IZEA Announces Q2 2024 Managed Services Bookings of $10.3 Million
July 08 2024 - 10:00AM
IZEA Worldwide, Inc. (NASDAQ: IZEA), the premier provider of
technology, data, and services for the Creator Economy, announced
today its Managed Services team secured contract bookings totaling
$10.3 million in the second quarter of 2024, a 40% increase from
$7.3 million in the second quarter of 2023.
“In the second quarter of 2024, we continued to deliver
impressive growth in Managed Services bookings, a testament to the
hard work of our team and our overarching growth strategy,” said
Ted Murphy, Founder, Chairman, and CEO of IZEA. “While we benefited
from some of our acquisitions in the quarter, more than 90% of
these bookings were generated organically, underscoring the
underlying strength of IZEA’s core offering.”
“Managed Services reported a robust 46% year-over-year growth in
the first half of the fiscal year, achieving $19.6M in net bookings
compared to $13.3M during the same period in 2023,” continued
Murphy. “We expect improving overall financial performance in the
back half of 2024 as we begin to see the benefits from these
bookings. Our pipeline remains strong, with the addition of
multiple new managed services clients, including a new Fortune 50
customer.”
“While Managed Services remains our primary key revenue driver,
we are also experiencing continued growth of our SaaS customer
base, particularly with FormAI,” he continued. “We concluded the
quarter with a record number of active SaaS customers.”
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 adjustments.
Revenues from Managed Services bookings are typically recognized
over a seven to nine-month period on average.
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 a measurable return on
investment.
Safe Harbor Statement
All statements in this release that are not based on historical
fact are “forward-looking” and 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,”
“optimistic,” “believe,” “intend,” “ought to,” “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
product development and platform launches, future financial
performance and operating results, including regarding recognition
of bookings as revenues, 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 maintain 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.
- IZEA Announces Q2 2024 Managed Services Bookings of $10.3
Million
Nicole O’Hara
IZEA Worldwide, Inc.
Phone: 407-674-6911
Email: ir@izea.com
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