IZEA Announces Q2 Managed Services Bookings of $9.3M
IZEA Worldwide reported record bookings of $21.5 million for the first half of 2022, a 22% increase year-over-year.
However, second-quarter bookings fell to $9.3 million from $11.1 million in Q2 2021. CEO Ted Murphy noted a slowdown in new bookings attributed to macroeconomic factors, with clients delaying marketing commitments. Despite this, he expressed confidence in exceeding internal bookings targets and anticipates growth in the second half of the year based on a strong pipeline of opportunities. Bookings reflect sales orders minus cancellations.
- First-half bookings of $21.5 million, up 22% year-over-year.
- Strong internal bookings performance expected for the second half of 2022.
- Managed Services contracts showing growth despite Q2 decline.
- Second-quarter bookings decreased to $9.3 million from $11.1 million year-over-year.
- Slowdown in new bookings in Q2 due to macroeconomic influences.
Record First-Half Bookings of
Orlando, Florida, July 11, 2022 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA), the premier provider of influencer marketing technology, data, and services for the world’s leading brands, announced today that its Managed Services team secured contracts totaling
“IZEA saw a slowdown in new bookings in the latter portion of Q2 which impacted the outcome for the overall quarter,” said Ted Murphy, IZEA Founder and CEO. “We believe this is largely reflective of the macro-economic climate as customers delayed marketing commitments to assess the broader landscape.”
“It is important to note that the overwhelming majority of those Q2 opportunities that did not close within the quarter remain intact,” continued Murphy. “This is in contrast to what we saw with the early onset of COVID-19 in 2020, when many opportunities were immediately pulled, and customers went unresponsive for a prolonged period of time. It took several quarters for us to see an incredible bookings rebound after that global economic shockwave. We currently believe this impact will be shorter in duration.”
“The company remains ahead of our internal bookings plans for the front half of 2022,” Murphy added. “Team IZEA is focused on growth. We anticipate that bookings will increase in the back half based on our current pipeline of high-probability customer opportunities.”
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. Revenues from Managed Services bookings are typically recognized over a 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 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.
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