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Orlando, Oct. 11, 2019 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA), operator of IZEAx®, the premier online marketplace connecting brands and publishers with influential content creators, reported total bookings of $7.7 million for the third quarter of 2019, an 18% decrease compared to $9.5 million in the same quarter of the prior year.
Q3 2019 Bookings Summary Compared to Q3 2018
The SaaS Licensing and marketplace comparison includes bookings attributed to TapInfluence at the time of the acquisition in Q3 last 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.
“Managed services bookings returned to growth in this quarter, but with an average of 26% less managed services sales personnel compared to Q3 last year. We are seeing a significant increase in average bookings per sales person in managed services which should benefit us as we begin to ramp the size of that team back up.”
“We have made adjustments to our pricing models and offerings to accommodate a broader customer set and use case. Monthly licensing fees for IZEAx hit a new record in Q3, and were up 745% as compared to Q3 2018. However, we continued to see challenges with churn of prior TapInfluence customers and an impact on monthly licensing fees as well as bookings. Overall, the count of customers licensing our platforms hit an all-time high in the quarter. We intend to continue to diversify our customer base through the addition of new features and functionality to address the needs of brands and agencies.”
IZEA plans to provide financial results for the third quarter on November 14, 2019.
About IZEA Worldwide, Inc.
IZEA Worldwide, Inc. (“IZEA”) operates online platforms that connect marketers with content creators. IZEA platforms automate influencer marketing and custom content development, allowing brands and agencies to scale their marketing programs. IZEA influencers include everyday creators as well as celebrities and accredited journalists. Creators are compensated for producing unique content such as long and short form text, videos, photos, status updates, and illustrations for marketers or distributing such content on behalf of marketers through their personal websites, blogs, and social media channels. Marketers receive influential content and engaging, shareable stories that drive awareness. For more information about IZEA, visit https://izea.com/.
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 of sales activity, revenue and margins based on bookings, plans to increase the size of our sales team, the financial impact of investments in our software business, and continuation of new IZEAx customers and their effect on future sales.
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.
Martin Smith IZEA Worldwide, Inc. Phone: 407-674-6911 Email: firstname.lastname@example.org