Orlando, FL (October 11, 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 $7.7 million for the third quarter of 2019, an 18% decrease compared to $9.5 million in the same quarter of the prior year.
Q3 2019 Bookings Summary Compared to Q3 2018
- SaaS Licensing bookings decreased 79% to $332,000, compared to $1.5 million.
- SaaS Marketplace bookings decreased 43% to $1.6 million, compared to $2.8 million.
The SaaS Licensing and marketplace comparison includes bookings attributed to TapInfluence at the time of the acquisition in Q3 last year.
- Managed Services bookings increased 12% to $4.9 million, compared to $4.4 million.
- Legacy Workflow bookings decreased 7% to $619,000, compared to $668,000.
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.
“Managed services bookings returned to growth in this quarter, but with an average of 26% less managed services sales personnel compared to Q3 last year. We are seeing a significant increase in average bookings per sales person in managed services which should benefit us as we begin to ramp the size of that team back up.”
“We have made adjustments to our pricing models and offerings to accommodate a broader customer set and use case. Monthly licensing fees for IZEAx hit a new record in Q3, and were up 745% as compared to Q3 2018. However, we continued to see challenges with churn of prior TapInfluence customers and an impact on monthly licensing fees as well as bookings. Overall, the count of customers licensing our platforms hit an all-time high in the quarter. We intend to continue to diversify our customer base through the addition of new features and functionality to address the needs of brands and agencies.”
IZEA plans to provide financial results for the third quarter on November 14, 2019.