Orlando, Florida, October 5, 2021 (GLOBE NEWSWIRE) – IZEA in the world, Inc. (NASDAQ: IZEA), the leading provider of influencer marketing technology, data and services for the world’s largest brands, today announced that it has set a record for best-quarter managed service bookings of the company’s history. Managed service bookings in the third quarter of 2021 increased 181% year-on-year to $ 11.3 million from the third quarter of 2020, which stood at $ 4.0 million. Managed service bookings exceed the previous record of $ 11.1 million set in the second quarter of 2021. IZEA added a variety of new influencer marketing clients during the quarter, including several Fortune 500 brands.
Reservations are a measure of all sales orders less any known cancellations or refunds during the same period in relation to those sales orders or refunds. Management uses reservations to inform expectations of total sales activity. Reservations are not always an indicator of revenue for the quarter and may be subject to future adjustments. Revenue from managed service bookings is typically accrued over a period of 9 months on average, although larger contracts may be accrued over longer periods. IZEA recognizes revenue from managed services based on a percentage of completion.
“2021 has been a year of incredible growth and momentum for the IZEA team,” said Ted Murphy, President and CEO of IZEA. “We have made substantial investments throughout the organization and these new resources are starting to have a significant impact on our high-end performance. Our marketing and sales efforts have resulted in increased opportunities and conversions with new customers through Managed Services and SaaS offerings. We also benefit from expanding programs with existing customers.
“The changes we have made to our SaaS licensing plans and the aggressive new price points at the end of the third quarter of last year continue to have a positive impact on the increase in the number of customers,” continued Murphy. “The total number of active software customers hit a record high again in the third quarter and more than doubled since September of last year. The number of software customers was largely boosted by IZEAx Discovery, although the number of new Unity Suite customers also saw an increase compared to the second quarter of 2021. “
IZEA’s net income and cash flow results will be announced along with the rest of its financial performance when announcing third quarter results, which are tentatively scheduled for November 10, 2021. Managed service bookings from IZEA are only a measure of the financial performance of the company and should not be taken as an indicator of quarterly financial results, which depend on various factors including the amount of revenue recognized in the quarter, cost of sales and other operating expenses.
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 leading social influencers and content creators. ‘today. The company serves as a champion of the growth of the creator economy, allowing individuals to monetize their content, creativity and influence. IZEA launched the industry’s first influencer marketing platform in 2006 and has since facilitated nearly 4 million transactions between buyers and sellers online. Leading brands and agencies partner with IZEA to increase digital engagement, diversify brand voice, increase content production, and drive measurable ROI.
Safe Harbor Declaration
All statements in this release that are not based on historical fact are “forward-looking statements” intended to qualify for the safe harbor of 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”, “s ‘expect’, ‘anticipate,’ ‘hope’, ‘estimate’, ‘believe’, ‘intend’, ‘probably’, ‘plans’, ‘plans’, ‘pursue’, ‘a strategy’ or “the future”, or the negative of those words or other words or phrases with similar meaning. Examples of forward-looking statements include, among others, statements we make regarding expectations regarding IZEA’s ability to grow. income e t reservations, growth or maintenance of customer relationships, and expectations regarding IZEA’s business strategy. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those of forward-looking statements, due to various factors, including, but not limited to, the following: competitive conditions in the business segment content and social sponsorship in which IZEA operates; the inability to popularize one or more of IZEA’s market platforms; our ability to establish effective disclosure controls and procedures and internal control over financial reporting; our ability to meet the continuous listing requirements of our common shares on the Nasdaq Capital Market; changing economic conditions 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 press release speak only as of the date of this press release, and IZEA assumes no obligation to update these forward-looking statements to reflect actual results or changes in expectations, unless the law l ‘demands otherwise.