SaaS Licensing Bookings Increase 1,124% Year over Year
Orlando, FL (April 9, 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 $7.8 million for the first quarter of 2019, a 18% increase compared to $6.6 million in the same quarter of the prior year. During the first quarter, approximately 38% of bookings came from a combination of software licensing and marketplace spend.
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.
“The investments we have made in our software business are beginning to have a substantial impact on the company,” said Ted Murphy, IZEA’s Chairman and CEO. “SaaS Licensing Bookings increased 1,124% from Q1 last year. Our SaaS licensing revenue committed under contract for 2019 is already 37% greater than that of all of 2018. We welcomed many new customers to IZEAx in Q1, including multiple billion-dollar retailers, advertising agencies, and two public relations firms in the global top ten by client billings. We expect the marketplace spend of these new IZEAx customers to begin to ramp in Q2 and Q3 of this year.”