IZEA Sets All-Time Quarterly Managed Services Bookings Record, Tops $11.5 Million in Q1 to Date

Rhea-AI Summary

IZEA Worldwide has announced a record for quarterly Managed Services bookings, surpassing $11.5 million in Q1 2022, an 80% increase from $6.45 million in Q1 2021. This surpasses the previous record of $11.3 million set in Q3 2021. The steady growth reflects recovery from COVID-19 impacts, with a continued focus on high-quality service leading to new contracts. The company emphasizes that bookings, an indicator of sales activity, do not directly correlate with revenue and may be adjusted in the future.

Positive

• Managed Services bookings for Q1 2022 reached $11.5 million, up 80% from Q1 2021.
• Surpassed previous booking record of $11.3 million from Q3 2021.

Negative

• None.

Orlando, Florida, March 24, 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 it has set a new all-time record for quarterly Managed Services bookings. Managed Services bookings for the first quarter to date have surpassed $11.5 million, compared with $6.45 million in Q1 2021, an increase of over 80% year over year. IZEA has surpassed the previous quarterly Managed Services bookings record of $11.3 million, set in Q3 of 2021.

Three-Year Completed Q1 Managed Services Bookings Progression:
Q1 2019: $3.48 million
Q1 2020: $2.85 million
Q1 2021: $6.45 million
Q1 2022: $11.5 million to date

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 is typically recognized over a nine-month period on average.

“We have seen a significant positive progression in Managed Services bookings showing a recovery following the initial onset of COVID-19 in March of 2020,” said Ted Murphy, IZEA Founder and CEO. “Our focus on providing the highest quality service to our customers is being rewarded with both new contracts and expansion of existing relationships. IZEA continues to show positive momentum with Managed Services bookings in the month of March despite the environment of global financial and geopolitical challenges.”

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.

Attachment

• IZEA Sets All-Time Quarterly Managed Services Bookings Record, Tops $11.5 Million in Q1 to Date

FAQ

What is the Managed Services bookings record reported by IZEA in Q1 2022?

IZEA reported Managed Services bookings of over $11.5 million in Q1 2022, marking an 80% increase year over year.

How does IZEA's Q1 2022 Managed Services bookings compare to previous years?

In Q1 2022, IZEA's bookings of $11.5 million significantly increased from $6.45 million in Q1 2021 and $3.48 million in Q1 2019.

What does IZEA say about the future of its bookings?

IZEA indicates that bookings are not always an indicator of revenue for the quarter and may be subject to future adjustments.

What challenges did IZEA mention regarding its bookings?

IZEA acknowledged global financial and geopolitical challenges but reported positive momentum in Managed Services bookings.