ORLANDO, Fla.--(BUSINESS WIRE)--IZEA Worldwide, Inc. (NASDAQ: IZEA), operator of IZEAx®, the premier online marketplace connecting brands and publishers with influential content creators, reported total bookings of $11.2 million for the fourth quarter of 2018, a 115% increase compared to $5.2 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 pleased to have not only exceeded ten million dollars of quarterly bookings for the first time, but to have pushed through the eleven million dollar marker as well,” said Ted Murphy, IZEA’s Chairman and CEO. “This is a milestone quarter for us and underscores the transition we have been making towards a more balanced mix of software and services sales. During the fourth quarter, approximately 61% of our bookings came from a combination of software licensing and marketplace spend.”
“IZEA benefited from significant increases in marketplace spend this holiday season, along with license renewals from key software customers and annual commitments from some of our long-time managed services customers,” continued Murphy. “We continue to build bookings momentum and see success from the adjustments we have made in our sales organization. Our customers are responding well to our unique combination of software technology and services. We are optimistic about the year ahead and are looking forward to the release of IZEAx 3.0 in the coming months.”
IZEA plans to report financial results for the fourth quarter of 2018 on March 28, 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 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.