IZEA Tops Record For Annual Managed Service Bookings

Rhea-AI Summary

IZEA Worldwide, Inc. (NASDAQ: IZEA) has reported record-breaking bookings, surpassing $23.5 million in Managed Services Year to Date, marking 2021 as its best year in company history with one third of the fiscal year remaining. The total bookings for the full 2020 fiscal year were $17.3 million. The company added three new Fortune 500 customers in August, and bookings for Q3 2021 are up 50% compared to Q3 2020. Revenue from Managed Services is recognized over an average period of 9 months.

Positive

• Surpassed $23.5 million in Managed Services Bookings Year to Date, setting a record.
• Q3 2021 bookings are up 50% compared to Q3 2020.
• Three new Fortune 500 customers added in August.

Negative

• None.

Orlando, Florida, Aug. 27, 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 surpassed $23.5 million in Managed Services Bookings Year to Date, already making 2021 the best year in company history for bookings - with one third of the fiscal year still remaining. Total managed services bookings for the full 2020 fiscal year were $17.3 million.

“We started to see a material uptick in year over year bookings beginning in Q4 of 2020, and that trend has continued throughout 2021,” commented Ted Murphy, Founder and CEO of IZEA. “We have added three new Fortune 500 customers in the month of August alone, and Managed Services bookings for the third quarter so far are already up 50% compared to Q3 2020, with another month to go. SaaS customer count has broken its previous record thus far in the third quarter, led primarily by IZEAx Discovery and continued expansion of IZEAx Unity Suite among smaller brands and agencies.”

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 9-month period on average, though larger contracts may be recognized over longer periods of time. IZEA recognizes Managed Services revenue based on a percentage of completion.

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 

performance under customer contracts, expectations of operating results that remain subject to completion of financial closing procedures, IZEA’s ability to increase revenue and bookings, growth or maintenance of customer relationships, and expectations concerning industry trends or 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 are the Managed Services bookings for IZEA in 2021?

IZEA has surpassed $23.5 million in Managed Services Bookings Year to Date in 2021.

How do current bookings compare to previous years for IZEA?

Total bookings for the full 2020 fiscal year were $17.3 million, indicating significant growth in 2021.

When is revenue from Managed Services typically recognized?

Revenue from Managed Services bookings is typically recognized over an average period of 9 months.

How many new customers did IZEA add in August 2021?

IZEA added three new Fortune 500 customers in August 2021.

What percentage increase did IZEA see in Q3 bookings compared to Q3 2020?

IZEA saw a 50% increase in Managed Services bookings for Q3 2021 compared to Q3 2020.