Business
IZEA Reports Q4 and FY2019 Financial Results
ORLANDO, Fla., March 30, 2020 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA), operator of IZEAx, the premier online marketplace connecting brands and
About this update from Izea Worldwide, Inc.
[{"type":"text","content":"ORLANDO, Fla., March 30, 2020 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA), operator of IZEAx, the premier online marketplace connecting brands and publishers with influential content creators, reported its financial and operational results for the fourth quarter and full year ended December 31, 2019.\n Q4 2019 Financial Summary Compared to Q4 2018 Total revenue down 8% to $5.8 million, compared to $6.3 million.Managed Services revenue increased 2% to $5.0 million, compared to $4.9 million.SaaS Services revenue decreased 43% to $777,000, compared to $1.4 million.Total Gross Billings* decreased 30% to $7.8 million, compared to $11.1 million.Total costs and expenses were $8.1 million, compared to $6.8 million.Net loss was $2.3 million, compared to a net loss of $693,000.Adjusted EBITDA* was $(1.3) million, compared to $23,000. FY2019 Financial Summary Compared to FY2018 Total revenue down 6% to $18.9 million, compared to $20.1 million.Managed Services revenue decreased 12% to $15.4 million, compared to $17.6 million.SaaS Services revenue increased 39% to $3.4 million, compared to $2.4 million.Total Gross Billings* decreased 3% to $29.0 million, compared to $30.0 million.Total costs and expenses were $26.1 million, compared to $25.5 million.Net loss was $7.3 million, compared to $5.7 million.Adjusted EBITDA* was $(4.7) million, compared to $(3.6) million. FY2019 Operational Highlights Completed $10M Public Offering.Launched IZEAx Discovery Self-Service.Launched IZEAx 3.0 Unity Suite.Released Pinterest and YouTube support in VizSearch®.Joined Forces with IRI to Launch InfluenceImpact.Beta Launch of BrandGraph® Social Intelligence Platform.Recognized as a Top 100 Employer by the Orlando Sentinel for the 4th year running. * Total Gross Billings and Adjusted EBITDA are non-GAAP financial measures. Refer to the definitions and reconciliations of these measures under “Use of Non-GAAP Financial Measures”. Management Commentary “2019 was a transitional year for our company as we integrated TapInfluence and shuttered the eByline technology platform,” said Ted Murphy, IZEA’s Chairman and CEO. “Following our capital raise in Q2 2019, we began making investments in sales, marketing, and engineering to support our growth initiatives. Those investments translated to the start of a topline rebound in Q4 of last year, with Managed Servi...