Orlando, FL (October 4, 2018) – IZEA Worldwide, Inc. (NASDAQ: IZEA), operator of IZEAx®, the premier online marketplace connecting brands and publishers with influential content creators, reported total bookings of $9.5 million for the third quarter of 2018, a 20% increase compared to $7.9 million in the same quarter of the prior year.
Total bookings are a measure of all sales orders, plus platform spend by self-service customers, 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. Subsequent revenue recognition and effective margins vary by revenue stream, and bookings are not always an indicator of revenue for the quarter and could be subject to future adjustment.
“We are excited by the momentum we have coming out of the third quarter,” said Ted Murphy, IZEA’s Chairman and CEO. “Managed Services bookings saw a strong rebound from the previous quarter and were up 62% from Q2 to $4.4 million in Q3. The concentrated effort we have put towards building and diversifying our pipeline over the past several quarters is beginning to pay off. Our new opportunity pipeline value to date is up 32% year-over-year, with a 50% increase in the overall number of opportunities during that same period. This is our fourth consecutive quarter of year over year pipeline growth.”
“In addition to the rebound we saw in Managed Services, we also booked $1.6 million under SaaS license contracts in Q3 2018 as a result of our acquisition of TapInfluence as well as growth in IZEAx licensing,” continued Murphy. “We have had zero churn from IZEAx customers signed this year and continue to see an increase in IZEAx marketplace spend each quarter. As we look to the future, recurring SaaS licensing fees and marketplace spend will be an increasing focus of our team and we expect it will begin to represent a larger portion of both bookings and revenue.”
IZEA plans to provide financial results for the third quarter on November 14, 2018.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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 “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “will,” “would” or other comparable terms. Examples of forward-looking statements include, among others, statements we make regarding expectations concerning IZEA’s ability to increase its revenue and sales pipeline, expectations with respect to operational efficiency, 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; 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. 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.
