Software Licensing and Marketplace Spend Drive All-Time Record Quarterly Bookings As Company Crosses Eight Digit Quarterly Milestone
Orlando, FL (January 7, 2019) – IZEA Worldwide, Inc. (NASDAQ: IZEA), operator of IZEAx®, the premier online marketplace connecting brands and publishers with influential content creators, reported total bookings of $11.2 million for the fourth quarter of 2018, a 115% increase compared to $5.2 million in the same quarter of the prior year.
Total bookings are a measure of all sales orders, plus platform spend by self-service customers, 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. Subsequent revenue recognition and effective margins vary by revenue stream, and bookings are not always an indicator of revenue for the quarter and could be subject to future adjustment.
“We are pleased to have not only exceeded ten million dollars of quarterly bookings for the first time, but to have pushed through the eleven million dollar marker as well,” said Ted Murphy, IZEA’s Chairman and CEO. “This is a milestone quarter for us and underscores the transition we have been making towards a more balanced mix of software and services sales. During the fourth quarter, approximately 61% of our bookings came from a combination of software licensing and marketplace spend.”
“IZEA benefited from significant increases in marketplace spend this holiday season, along with license renewals from key software customers and annual commitments from some of our long-time managed services customers,” continued Murphy. “We continue to build bookings momentum and see success from the adjustments we have made in our sales organization. Our customers are responding well to our unique combination of software technology and services. We are optimistic about the year ahead and are looking forward to the release of IZEAx 3.0 in the coming months.”
IZEA plans to report financial results for the fourth quarter of 2018 on March 28, 2019.