Orlando, Florida, Sep 14, 2021 (GLOBE NEWSWIRE via COMTEX) --
Orlando, Florida, Sept. 14, 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 variety of contracts from both new and existing clients, propelling IZEA's Managed Services Bookings to top 115% growth in Q3 2021 to date, as compared to Q3 2020. Managed Services Bookings for the quarter are currently $8.5 million as compared to $4.0 million in 2020, already making it the best Q3 in company history with half the month of September remaining. This is IZEA's third consecutive quarter of triple digit growth for Managed Services Bookings.
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 9-month period on average, though larger contracts may be recognized over longer periods of time. IZEA
recognizes Managed Services revenue based on a percentage of completion.
"We continue to see strong sales momentum for IZEA's influencer marketing services," said IZEA Founder and CEO Ted Murphy. "We are signing up more new customers - and those new customers are spending more per customer on average as compared to the same quarter last year. The count of new customers signed in the third quarter of 2021 thus far has more than doubled from the same quarter last year, and the dollars booked from new customers has more than tripled."
"At the same time, many of IZEA's existing customers have expanded their influencer marketing programs this year," continued Murphy. "Bookings from existing customers are $5.2 million so far in Q3, and make up about 62% of total bookings within the quarter. This is a healthy balance of expansion within current customer relationships while aggressively adding new accounts with room for future growth."
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.
Martin Smith IZEA Worldwide, Inc. Phone: 407-674-6911 Email: email@example.com
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