Orlando, FL (July 1, 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 $5.9 million for the second quarter of 2019, a 63% increase compared to $3.6 million in the same quarter of the prior year.
Q2 2019 Bookings Summary Compared to Q2 2018
- SaaS Licensing bookings increased 920% to $455,000, compared to $45,000.
- SaaS Marketplace bookings increased 3187% to $2.2 million, compared to $70,000.
- Managed Services bookings decreased 3% to $2.6 million, compared to $2.7 million.
- Legacy Workflow bookings decreased 23% to $605,000, compared to $785,000.
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.
“Our investment in software growth is evident in our Q2 numbers. We saw a significant increase in both marketplace spend and SaaS licensing in the quarter,” said Ted Murphy, IZEA’s Chairman and CEO. “More importantly, we signed a number of marquee software clients in Q2 that are beginning to ramp their marketplace spend heading into the back half of the year.”
“Managed services bookings were essentially flat year over year, but with an average of 35% less managed services sales personnel compared to Q2 last year. We are getting significantly more average bookings per sales person in managed services which should benefit us as we begin to ramp the size of that team back up.”