Full-Year 2016 Bookings up 23% to $30.0M
Orlando, FL (January 9, 2017) – IZEA, Inc. (NASDAQ: IZEA), operator of IZEAx, the premier online marketplace connecting brands and publishers with influential content creators, reported record bookings of $8.1 million for the fourth quarter of 2016, up 11% from $7.3 million in the same year-ago quarter. Full-year 2016 bookings were $30.0 million, up 23% from $24.5 million in 2015.
The record fourth quarter bookings were driven by strong demand for both influencer marketing and custom content services, with large increases in annual commitments by repeat customers.
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“At the start of our fourth quarter extraordinary circumstances led to uncommonly large bookings reductions of $1.4 million, due primarily to a client departmental layoff and a client bankruptcy,” said Ted Murphy, IZEA’s chairman and CEO. “Client commitments also slowed leading up to the election. However, this initial hesitation rebounded quickly in November and our team was able to significantly make up for lost time. As we look to 2017, we believe the macroeconomic outlook has stabilized and our sales cadence should follow suit.”
Bookings is a measure of sales orders minus any cancellations or refunds in a given period. Management uses bookings as a leading indicator of future revenue recognition as revenue is typically recognized within 90-120 days of booking. However, larger contracts, such as some of those booked in Q4, may be recognized over twelve months from the original booking date.
The company plans to provide financial results for the fourth quarter and full year 2016 on March 28, 2017.
IZEA will be announcing IZEAx 2.0 at IZEAFest on February 10-11th, 2017. To register for the event go to http://www.izeafest.com.