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IZEA Reports Q2 2021 Financial Results
ORLANDO, Fla., Aug. 12, 2021 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA), the premier provider of influencer marketing technology, data, and
About this update from Izea Worldwide, Inc.
[{"type":"text","content":"ORLANDO, Fla., Aug. 12, 2021 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA), the premier provider of influencer marketing technology, data, and services for the world’s leading brands, reported its financial and operational results for the second quarter ended June 30, 2021. Q2 2021 Financial Summary Compared to Q2 2020 Total revenue increased 109% to $6.5 million, compared to $3.1 million.Managed Services unit revenue increased 146% to $6.1 million, compared to $2.5 million.SaaS Services unit revenue decreased 34% to $425,000, compared to $645,000.Total costs and expenses increased 74% to $8.6 million, compared to $4.9 million.Net loss was $0.1 million, compared to a net loss of $1.8 million.Adjusted EBITDA* decreased to $(1.4) million, compared to $(1.3) million. Q2 2021 Operational Highlights Managed Services bookings reached 187% year over year growth in Q2 to hit an all-time record of $11.1 million.Hit all-time record count of customers licensing IZEA SaaS products.Company joined Russell Microcap® Index.Unveiled next generation of IZEAx® Unity Suite.Announced BrandGraph Compare, Themes, and TikTok Support.Added four partners to IZEA’s Talent Partner Program.Completed sale of $35 Million of common stock through its ATM offering at an average of $4.98 per share. * Adjusted EBITDA is a non-GAAP financial measure. Refer to the definition and reconciliation of this measure under “Use of Key Metrics and Non-GAAP Financial Measures”. Management Commentary “The second quarter was a continuation and acceleration of the strong sales momentum we first started to see at the end of 2020,” said Ted Murphy, IZEA’s Chairman and CEO. “The record $11.1 million in Managed Services bookings we saw in this quarter will have a positive impact on revenue this year and carry over into early 2022.” “On our first quarter investor call I shared that our goal was to deliver at least 30% annual revenue growth per year for each of the next three years, or a 30% compound annual growth rate,” continued Murphy. “That remains our longer term goal, but based on current bookings and first half revenue numbers it is clear that we will far exceed this goal in 2021. As of July, Managed Services bookings for 2021 have already exceeded all that of 2020. We will likely exceed 30% year over year bookings growth again in Q3. Our pipeline remains very strong ...