Annual Managed Services Bookings Increase $22.2 Million to $39.5 Million for the Full Year
Orlando, Florida (January 10, 2022) – 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 set a Managed Services bookings record for the best Q4 in company history. The announcement is the latest in a string of records for the company. In 2021, IZEA set new managed services bookings records in Q1, Q2, and Q3, with the most recent quarter being a capstone to a remarkable year of growth for the company.
IZEA set its last record for the best Q4 managed services bookings in company history in 2020. That year, the company saw managed services bookings of $6.6 million. A year later in Q4 2021, managed services bookings rose 62% to $10.6 million — the company’s third consecutive quarter of eight-digit bookings. Full-year 2021 managed services bookings totaled $39.5 million, increasing $22.2 million year-over-year from $17.3 million in 2020.
“Team IZEA has delivered an incredibly strong Q4 on multiple fronts,” said Ted Murphy, IZEA’s Chairman and CEO. “Not only did we top our record-breaking 2020 managed services bookings number in 2021, we have also set a new record for the number of customers licensing our software.”
“We added a significant number of new customers both large and small in 2021,” continued Murphy. “We are also benefiting from meaningful spending increases from key accounts, some of which expanded their commitments by millions of dollars in the year. The investments that we have made to provide the highest quality software and services are earning us more opportunities to win and expand relationships with brands and agencies. We are very well positioned for revenue growth in 2022 and exited 2021 with strong pipeline momentum.”
“IZEA ended the year with a strong balance sheet and approximately $75 million in cash,” said Murphy. “We intend to continue our investment in sales, technology, and marketing throughout 2022 as we expand our share of the influencer marketing industry we created.”
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 adjustments. Revenue from Managed Services bookings are typically recognized over nine months on average.