IZEA Secures Million Dollar Influencer Marketing Contract Expansion

Rhea-AI Summary

IZEA Worldwide, Inc. (NASDAQ: IZEA) has announced a $1 million contract expansion with a Fortune 500 consumer electronics manufacturer. This follows a successful start to Q3 2021, with Managed Services bookings increasing by 187% to $11.1 million in Q2 2021 compared to $3.9 million in Q2 2020. The company is set to release its Q2 financial results on August 12, 2021. Although bookings do not directly translate to revenue, they reflect the strong demand for IZEA's services in influencer marketing.

Positive

• New $1 million contract expansion with a Fortune 500 client.
• Managed Services bookings surged 187% to $11.1 million in Q2 2021.

Negative

• None.

Orlando, Florida, July 21, 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 a new $1 million contract expansion to provide influencer marketing services to a Fortune 500 consumer electronics manufacturer.

“Team IZEA is off to a strong start for Q3 2021, bolstered by several meaningful contract awards from repeat customers,” said Ted Murphy, Founder, Chairman and CEO of IZEA. “We have already set a record for the best Managed Services bookings in the month of July, and we are continuing to see strong demand for our expertise in the influencer marketing industry.”

IZEA recently announced that Managed Services bookings in the second quarter of 2021 increased 187% to $11.1 million as compared to the second quarter of 2020, which were $3.9 million. IZEA’s net income and cash flow results will be announced, along with the rest of the company’s financial performance, as part of its Q2 2021 earnings release, which is tentatively scheduled for August 12, 2021.

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 9-month period on average, though larger contracts may be recognized over longer periods of time.

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: bookings failing to produce corresponding revenue; 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 recent contract did IZEA announce?

IZEA announced a $1 million contract expansion to provide influencer marketing services.

How much did IZEA's Managed Services bookings increase?

Managed Services bookings increased by 187% to $11.1 million in Q2 2021.

When will IZEA release its Q2 2021 financial results?

IZEA will release its Q2 2021 financial results on August 12, 2021.

What is the significance of bookings for IZEA?

Bookings are an indicator of total sales activity, although they may not directly translate to revenue.