Orlando, Florida (April 5, 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 set a Managed Services bookings record for the best Q1 in company history. The announcement comes just one quarter after IZEA set a record for its best Q4 Managed Services bookings. IZEA continued the strong momentum that began in Q4, both adding a variety of new customers as well as benefiting from meaningful increases from existing customers. IZEA’s Managed Services bookings climbed 130% year over year in Q1 despite the impact the pandemic has had on a portion of IZEA’s historical customer base.
“This is the strongest Q1 Team IZEA has ever delivered, on multiple fronts,” said Ted Murphy, IZEA’s Chairman and CEO. “Not only have Managed Services bookings more than doubled, but we have also seen record signups for our SaaS offerings. Our total active SaaS customer base reached record numbers at the end of Q1 2021 – largely driven by IZEAx Discovery, our powerful and affordable influencer discovery tool.”
Bookings are a measure of all sales orders minus any known 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.
“We believe our investments in marketing and engineering are having a material impact on our trajectory as a company. In addition to the contracts we signed in Q1, we begin Q2 with a strong pipeline of additional opportunities with leading brands,” continued Murphy. “This quarter will also usher in a variety of meaningful platform upgrades to Shake, BrandGraph, and IZEAx, which we believe will attract additional customers for our SaaS offerings moving forward.”