Orlando, Florida (March 24, 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 has set a new all-time record for quarterly Managed Services bookings. Managed Services bookings for the first quarter to date have surpassed $11.5 million, compared with $6.45 million in Q1 2021, an increase of over 80% year over year. IZEA has surpassed the previous quarterly Managed Services bookings record of $11.3 million, set in Q3 of 2021.
Three-Year Completed Q1 Managed Services Bookings Progression:
Q1 2019: $3.48 million
Q1 2020: $2.85 million
Q1 2021: $6.45 million
Q1 2022: $11.5 million to date
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 is typically recognized over a nine-month period on average.
“We have seen a significant positive progression in Managed Services bookings showing a recovery following the initial onset of COVID-19 in March of 2020,” said Ted Murphy, IZEA Founder and CEO. “Our focus on providing the highest quality service to our customers is being rewarded with both new contracts and expansion of existing relationships. IZEA continues to show positive momentum with Managed Services bookings in the month of March despite the environment of global financial and geopolitical challenges.”
Safe Harbor Statement
All statements in this release that are not based on historical fact are “forward-looking statements” intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “may,” “will,” “would,” “could,” “should,” “expect,” “anticipate,” “hope,” “estimate,” “believe,” “intend,” “likely,” “projects,” “plans,” “pursue,” “strategy” or “future,” or the negative of these words or other words or expressions of similar meaning. Examples of forward-looking statements include, among others, statements we make regarding expectations concerning IZEA’s ability to increase revenue and bookings, growth or maintenance of customer relationships, and expectations concerning IZEA’s business strategy. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including, among others, the following: competitive conditions in the content and social sponsorship segment in which IZEA operates; failure to popularize one or more of the marketplace platforms of IZEA; our ability to establish effective disclosure controls and procedures and internal control over financial reporting; our ability to satisfy the requirements for continued listing of our common stock on the Nasdaq Capital Market; changing economic conditions that are less favorable than expected; and other risks and uncertainties described in IZEA’s periodic reports filed with the Securities and Exchange Commission. The forward-looking statements made in this release speak only as of the date of this release, and IZEA assumes no obligation to update any such forward-looking statements to reflect actual results or changes in expectations, except as otherwise required by law.
