IZEA Q2 2021 Managed Services Bookings Already Exceed All of Q2 2020

Rhea-AI Summary

IZEA Worldwide announced a significant increase in Managed Services bookings for Q2 2021, surpassing total bookings for Q2 2020 within the first two weeks. A notable multi-million-dollar contract with a Fortune 500 manufacturer was secured. Bookings have risen by 10% from Q2 2020, which itself saw a 47% increase from Q2 2019. The company’s ongoing strategic investments are driving growth despite global challenges posed by COVID-19.

Positive

• Managed Services bookings exceeded Q2 2020 total in early April.
• 10% growth in Managed Services bookings compared to Q2 2020.
• 47% increase in Managed Services bookings compared to Q2 2019.
• Secured multi-million-dollar contract with a Fortune 500 manufacturer.

Negative

• None.

Company Awarded Mid-Seven Figure Influencer Marketing Services & Software Contract

Orlando, Florida, April 13, 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 IZEA’s Managed Services bookings for Q2 2021 have already exceeded the total amount of Managed Services bookings for the entirety of the same quarter last year. The company has signed a variety of contracts in early April, including a multi-million-dollar influencer marketing agreement that includes both software and services for a Fortune 500 Manufacturer. In the first two weeks of Q2 2021, Managed Services bookings has already grown 10% compared to all of Q2 2020, which was up 47% as compared to Q2 2019.

Bookings are a measure of all sales orders minus any known 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, though larger contracts may be recognized over longer periods of time.

“We have been making substantial strategic investments in areas of the business that we believe will benefit our customers today while simultaneously driving long term growth for our company,” said Ted Murphy, Founder, Chairman and CEO of IZEA. “Those investments have already started to have a dramatic positive impact on the momentum and trajectory of sales, allowing us to flourish despite the macro global challenges associated with the ongoing COVID-19 pandemic.”

“Our Managed Services team set a record for the best Q4 bookings ever at the end of 2020, then followed that with another record for the best Q1 bookings ever – delivering 130% year over year growth – announced only two weeks ago,” continued Murphy. “We are putting customer needs at the center of our universe at a time when they need data, insights, and creativity more than ever. Our customers are rewarding us with new business and expanding their partnerships with IZEA. While we have already seen some meaningful contractual wins in April, our pipeline for the balance of Q2 continues to be substantial.”

“Team IZEA is incredibly excited about the opportunities that these recent wins will afford our influencer network,” continued Murphy. “The core of our mission is to Champion The Creators, and we are thrilled to provide them with new collaboration projects to partner with the world’s leading brands on a variety of social media platforms.”

To work with IZEA as either an influencer or a marketer visit IZEA.com.

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.

FAQ

What is the recent achievement of IZEA regarding Managed Services bookings?

IZEA's Managed Services bookings for Q2 2021 have already exceeded the total amount for Q2 2020.

How much have Managed Services bookings increased compared to Q2 2020?

Managed Services bookings have grown by 10% compared to Q2 2020.

What significant contract did IZEA secure recently?

IZEA secured a multi-million-dollar influencer marketing agreement with a Fortune 500 manufacturer.

How does IZEA's current performance compare to previous years?

Bookings are up 47% compared to Q2 2019.

What is IZEA's strategy during the ongoing pandemic?

IZEA is making strategic investments aimed at benefiting customers while driving long-term growth.