IZEA Announces Q4 2023 Managed Services Bookings
12 January 2024 - 2:00AM
IZEA Worldwide, Inc. (NASDAQ: IZEA), the premier provider of
influencer marketing technology, data, and services for the world’s
leading brands and agencies, today announced its Managed Services
team secured contract bookings totaling $7.7 million in the fourth
quarter of 2023, down slightly from $7.9 million in the fourth
quarter of 2022.
“IZEA ended Q4 with Managed Services bookings that were largely
in line with Q4 2022, despite a variety of headwinds we had to
overcome throughout the year,” stated Ted Murphy, Founder and CEO
of IZEA. “We've navigated a transformative period for the company
while simultaneously laying the groundwork for a future of
expansion, and we are looking forward to the new year.”
“In 2023, we parted ways with a large customer that represented
over 20% of our annual bookings in 2022. As we set our sights on
rebuilding from the loss in 2023, one of our primary goals was
customer and revenue diversification,” continued Murphy. “I am
pleased to share that we finished 2023 with the largest number of
active customers we have ever had, including a SaaS customer base
that hit an all-time high in December. We believe we will see a
return to year-over-year Managed Services bookings growth in 2024,
with quarterly SaaS revenue continuing to build from the low point
we hit in Q3 of 2023.”
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.
To work with IZEA as either an influencer or a marketer, visit
izea.com. For news and resources, follow IZEA at x.com/izea.
About IZEA Worldwide, Inc.
IZEA Worldwide, Inc. (including its wholly-owned subsidiaries,
“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 Q4 2023 Managed Services Bookings
Matt Gray
IZEA Worldwide, Inc.
Phone: 407-674-6911
Email: ir@izea.com
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