Q1 Managed Services Bookings Already Exceeds 20% YoY Q1 Growth
Orlando, Florida, Feb. 23, 2021 (GLOBE NEWSWIRE) -- 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 been awarded a series of Managed Services contract expansions from repeat customers. The customers include two Fortune 200 clients, as well as other leading brands. The announcement adds to the recent expansion of a contract with a branch of the U.S. military.
“We are delighted to see our customers return and expand their relationship with IZEA during a time that remains challenging for many businesses,” said Ted Murphy, IZEA’s Chairman and CEO. “When the pandemic first hit, Team IZEA doubled down on white-glove customer service. I believe we are being rewarded for that commitment to our customer relationships with renewals and expansions of contracts by the world’s largest companies.”
IZEA Managed Services bookings for Q1 2021 to date are now more than 20% greater than Managed Services bookings for all of Q1 2020, with five weeks of business development activity still remaining in the quarter. The year over year bookings growth for Managed Services builds upon IZEA’s record Q4 2020 bookings. IZEA previously reported that its Managed Services bookings increased 48% in Q4 of 2020, as compared to Q4 2019.
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 are typically recognized over a 6-month period on average.
“As we look forward to March, we are focused on building upon the growth we have already established,” continued Murphy. “We have a robust pipeline of both new and existing customers, and we intend to capitalize on our momentum.”
About IZEA Worldwide, Inc.
IZEA Worldwide, Inc. (“IZEA”) is a marketing technology company providing software and professional services that enable brands to collaborate and transact with the full spectrum of today’s top social influencers and content creators. The company serves as a champion for the growing Creator Economy, enabling individuals to monetize their content, creativity, and influence. IZEA launched the industry’s first-ever influencer marketing platform in 2006 and has since facilitated nearly 4 million transactions between online buyers and sellers. Leading brands and agencies partner with IZEA to increase digital engagement, diversify brand voice, scale content production, and drive measurable return on investment.
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.
CONTACT: Martin Smith IZEA Worldwide, Inc. Phone: 407-674-6911 Email: firstname.lastname@example.org