Managed Services bookings momentum building in Q3
Orlando, FL (August 17, 2018) – IZEA, Inc. (NASDAQ: IZEA), operator of IZEAx®, the premier online marketplace connecting brands and publishers with influential content creators, is reporting several large new contract wins thus far in Q3.
IZEA recently secured a high six-figure influencer marketing services contract to support a product launch for a new Fortune 200 client. In addition, the company signed a number of six-figure contracts earlier in the quarter for a variety of clients including a Fortune 10 retailer, a Fortune 100 healthcare company, and Fortune 1000 software company. The company saw new commitments from repeat clients including a Fortune 50 automobile manufacturer and Fortune 500 consumer packaged goods company.
“We believe our Q3 managed services bookings will show a meaningful improvement over the previous quarter,” commented Ted Murphy, Founder and CEO of IZEA. “We are approximately halfway through Q3 and have already booked 90%+ of what we did in managed services bookings for the entirety of Q2. In addition to managed services, we also expect to see the benefit of SaaS and marketplace spend from our acquisition of TapInfluence in late July. From a sales perspective, July 2018 was our best July in the history of the company, with managed services bookings up 153% year over year.”
“We are beginning to see a rebound in bookings due to the heightened level of overall sales activity over the past three quarters,” continued Murphy. “Our Q2 new opportunity pipeline, and our July new opportunity pipeline, were both up year over year. We have been working hard to build the top of the funnel, and that effort is beginning to pay off. On average, we see the efforts of new opportunity pipeline development impacting bookings on an eight to ten month trailing basis. We have observed three quarters of this trend, and we believe we are at the beginning of a reversal in our bookings pattern, so long as this momentum continues.”
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based largely on IZEA’s expectations and are subject to a number of risks and uncertainties, certain of which are beyond IZEA’s control. Actual results could differ materially from these forward-looking statements as a result of, among other factors, 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 and changing economic conditions that are less favorable than expected. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this respect will in fact occur.
