IZEA Tops 115% Year over Year Growth in Q3 Managed Services Bookings to Date
September 14 2021 - 10:00AM
IZEA Worldwide, Inc. (NASDAQ: IZEA), the premier provider of
influencer marketing technology, data, and services for the world’s
leading brands, announced today that it has been awarded a variety
of contracts from both new and existing clients, propelling IZEA’s
Managed Services Bookings to top 115% growth in Q3 2021 to date, as
compared to Q3 2020. Managed Services Bookings for the quarter are
currently $8.5 million as compared to $4.0 million in 2020, already
making it the best Q3 in company history with half the month of
September remaining. This is IZEA’s third consecutive quarter of
triple digit growth for Managed Services Bookings.
Bookings are a measure of all sales orders minus
any known or expected cancellations or refunds with respect to such
sales orders or refunds. Management uses bookings to inform
expectations of total sales activity. Bookings are not always an
indicator of revenue for the quarter and could be subject to future
adjustment. Revenue from Managed Services bookings are typically
recognized over a 9-month period on average, though larger
contracts may be recognized over longer periods of time.
IZEArecognizes Managed Services revenue based on a percentage of
completion.
“We continue to see strong sales momentum for
IZEA’s influencer marketing services,” said IZEA Founder and CEO
Ted Murphy. “We are signing up more new customers - and those new
customers are spending more per customer on average as compared to
the same quarter last year. The count of new customers signed in
the third quarter of 2021 thus far has more than doubled from the
same quarter last year, and the dollars booked from new customers
has more than tripled.”
“At the same time, many of IZEA’s existing
customers have expanded their influencer marketing programs this
year,” continued Murphy. “Bookings from existing customers are $5.2
million so far in Q3, and make up about 62% of total bookings
within the quarter. This is a healthy balance of expansion within
current customer relationships while aggressively adding new
accounts with room for future growth.”
About IZEA Worldwide, Inc.IZEA
Worldwide, Inc. (“IZEA”) is a marketing technology company
providing software and professional services that enable brands to
collaborate and transact with the full spectrum of today’s top
social influencers and content creators. The company serves as a
champion for the growing Creator Economy, enabling individuals to
monetize their content, creativity, and influence. IZEA launched
the industry’s first-ever influencer marketing platform in 2006 and
has since facilitated nearly 4 million transactions between online
buyers and sellers. Leading brands and agencies partner with IZEA
to increase digital engagement, diversify brand voice, scale
content production, and drive measurable return on investment.
Safe Harbor Statement
All statements in this release that are not based
on historical fact are “forward-looking statements” intended to
qualify for the safe harbor from liability established by the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements, which are based on certain assumptions and describe our
future plans, strategies and expectations, can generally be
identified by the use of forward-looking terms such as “may,”
“will,” “would,” “could,” “should,” “expect,” “anticipate,” “hope,”
“estimate,” “believe,” “intend,” "likely," "projects," “plans,”
"pursue," "strategy" or "future," or the negative of these words or
other words or expressions of similar meaning. Examples of
forward-looking statements include, among others, statements we
make regarding expectations concerning IZEA’s ability to increase
revenue and bookings, growth or maintenance of customer
relationships, and expectations concerning IZEA’s business
strategy. Forward-looking statements involve inherent risks and
uncertainties which could cause actual results to differ materially
from those in the forward-looking statements, as a result of
various factors including, among others, the following: competitive
conditions in the content and social sponsorship segment in which
IZEA operates; failure to popularize one or more of the marketplace
platforms of IZEA; our ability to establish effective disclosure
controls and procedures and internal control over financial
reporting; our ability to satisfy the requirements for continued
listing of our common stock on the Nasdaq Capital Market; changing
economic conditions that are less favorable than expected; and
other risks and uncertainties described in IZEA’s periodic reports
filed with the Securities and Exchange Commission. The
forward-looking statements made in this release speak only as of
the date of this release, and IZEA assumes no obligation to update
any such forward-looking statements to reflect actual results or
changes in expectations, except as otherwise required by law.
Martin Smith
IZEA Worldwide, Inc.
Phone: 407-674-6911
Email: ir@izea.com
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