Reports Highest Annual Revenue in Company History of $8.3 Million
Orlando, Florida (March 19, 2015) – IZEA, Inc. (OTCQB: IZEA), operator of the premiere online marketplace that connects brands with influential content creators, today announced record results for its fourth quarter ended December 31, 2014.
Financial Highlights include:
- Revenue for the quarter increased 26% to a record $2.5 million compared to Q4 2013.
- Gross profit margin for the quarter was 65.6%, up from 56.5% during the same period in 2013.
- Bookings for the quarter grew 40% year over year to a record $2.7 million.
- New opportunity pipeline for the quarter increased 76% year-over-year to $16 million.
- Revenue for the 2014 fiscal year was $8.3 million, an increase of 26% over 2013.
- Annual bookings reached $9.0 million, an increase of 24% over 2013.
Fourth Quarter Operational Highlights:
- Completed user migration from legacy systems to IZEAx.
- IZEAx aggregate network reach increased 138% to 2.3 billion fans and followers at the end of the quarter, compared with Q3 2014.
- IZEAx registered users increased 153% to 243,000 compared with Q3 2014.
- Three new IZEAx partners, including Bent Pixels and Frederator.
“IZEA made significant investments in client services and engineering ahead of revenue last year, and that investment is beginning to be reflected in our organic growth momentum,” said Ted Murphy, IZEA’s Chairman and Chief Executive Officer. “I am proud of what our team accomplished in 2014 and have never been more optimistic about our future. The investments we made last year, combined with our acquisition of Ebyline, Inc. in January 2015, have set the stage for a transformational year ahead for the company. We project 177% bookings growth in 2015, with $25 million in bookings driving an estimated $23 million in revenue.”
2014 Annual Results
Revenue for 2014 was $8,322,274 compared to $6,626,943 in 2013, an increase of 26%. Gross profit for the year was $5,476,441, up from $3,928,579 in 2013, an increase of 39%. Operating expenses for the year were $10,122,644, compared to $6,841,635 in 2013, due to investments in sales, marketing and engineering.
Net income for the year was $3,184,064 compared to a net loss of $(3,321,992) during the same period last year, primarily due to a $7,845,214 gain on the change in the fair value of derivatives. Operating EBITDA was $(3,719,556) compared to $(1,682,155) in 2013, primarily due to investments in marketing and new hires.
Basic and diluted income per common share for the year was $.06 and $.05, respectively, compared to basic and diluted loss per common share of $(.27) for 2013.
Investor Conference Call
The Company will host a conference call today at 4:00p.m. ET, during which IZEA management will discuss the financial results and be available to answer any questions from investors.
Conference Date: 03/19/15
Conference Start Time: 4:00 pm Eastern
Dial-In Number : 1-201-689-8471
Electronic replay of the conference call will be available through March 26, 2015 by dialing 1-858-384-5517 and entering PIN number 13602917. IZEA will also post a downloadable file onto the Investor Relations area of http://corp.izea.com.
Safe Harbor Statement
http://corp.izea.com/safe-harbor-statement