Company Drives Year over Year Growth in Q1 Managed Services Bookings
Orlando, Florida (February 12, 2021) – IZEA Worldwide, Inc. (NASDAQ: IZEA), the premier provider of influencer marketing technology, data, and services for the world’s leading brands, announced today that it has been awarded an expansion of its previously announced mid six-figure contract with a branch of the U.S. military, reflecting a 30% increase in overall deal size.
“We are very excited to see an expansion of this managed services contract with a branch of the U.S. military, following the successful launch of the initial campaign,” said Ted Murphy, IZEA’s Chairman and CEO.
The contract has, along with other recent wins, propelled IZEA into quarterly growth for Managed Services bookings. IZEA Managed Services bookings for Q1 2021 to date now exceeds Managed Services bookings for all of Q1 2020. The announcement follows a record-breaking January, which was the best January for Managed Services in the history of the company.
Bookings are a measure of all sales orders 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. Bookings are not always an indicator of revenue for the quarter and could be subject to future adjustment. Revenue from Managed Services bookings are typically recognized over a 6-month period on average.
“There are many opportunities to utilize influencer marketing for government initiatives, particularly while we are all impacted by the pandemic,” said Murphy. “We see additional possibilities for utilizing influencer marketing as vaccination efforts begin to gain steam. It is our hope to partner with governmental agencies as well as pharmaceutical companies and retailers to aid in vaccine awareness and educational efforts.”
“While we continue to monitor the unpredictable global impacts of the pandemic, team IZEA currently has momentum on multiple fronts,” continued Murphy. “I am delighted to be at a point where we have already exceeded our quarterly Managed Services bookings number compared to all of Q1 last year. The company is also seeing continued positive sales momentum with IZEAx Unity Suite new customer wins, particularly among the more affordable pricing tiers introduced last year. We are still absorbing the overall revenue impacts for these pricing strategy adjustments, but our active base of software customers is growing and is the largest it has ever been.”
For more information about Influencer Marketing for the COVID Vaccine visit: http://izea.me/covid-marketing