IZEA Expands Military Contract
IZEA Worldwide, Inc. reports significant growth in Q1 2021 with a 30% increase in a mid six-figure contract with a U.S. military branch. Managed Services bookings have already surpassed Q1 2020, marking a record-breaking January for the company. IZEA aims to leverage influencer marketing for governmental vaccine awareness initiatives amid the pandemic. The active customer base for their software has reached an all-time high, although adjustments in pricing strategies are still being assessed for revenue impact.
- 30% increase in contract size with U.S. military
- Managed Services bookings in Q1 2021 exceeded total bookings in Q1 2020
- Record-breaking January for Managed Services
- Largest active base of software customers ever recorded
- None.
Company Drives Year over Year Growth in Q1 Managed Services Bookings
Orlando, Florida, Feb. 12, 2021 (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 it has been awarded an expansion of its previously announced mid six-figure contract with a branch of the U.S. military, reflecting a
“We are very excited to see an expansion of this managed services contract with a branch of the U.S. military, following the successful launch of the initial campaign,” said Ted Murphy, IZEA’s Chairman and CEO.
The contract has, along with other recent wins, propelled IZEA into quarterly growth for Managed Services bookings. IZEA Managed Services bookings for Q1 2021 to date now exceeds Managed Services bookings for all of Q1 2020. The announcement follows a record-breaking January, which was the best January for Managed Services in the history of the company.
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 6-month period on average.
“There are many opportunities to utilize influencer marketing for government initiatives, particularly while we are all impacted by the pandemic,” said Murphy. “We see additional possibilities for utilizing influencer marketing as vaccination efforts begin to gain steam. It is our hope to partner with governmental agencies as well as pharmaceutical companies and retailers to aid in vaccine awareness and educational efforts.”
“While we continue to monitor the unpredictable global impacts of the pandemic, team IZEA currently has momentum on multiple fronts,” continued Murphy. “I am delighted to be at a point where we have already exceeded our quarterly Managed Services bookings number compared to all of Q1 last year. The company is also seeing continued positive sales momentum with IZEAx Unity Suite new customer wins, particularly among the more affordable pricing tiers introduced last year. We are still absorbing the overall revenue impacts for these pricing strategy adjustments, but our active base of software customers is growing and is the largest it has ever been.”
For more information about Influencer Marketing for the COVID Vaccine visit: http://izea.me/covid-marketing
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.
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