Business
IZEA Reports Record Annual Revenue in FY2022, up 37% Year over Year
ORLANDO, Fla., March 30, 2023 (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., March 30, 2023 (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 fourth quarter ended December 31, 2022. FY 2022 Financial Summary Compared to FY 2021 Total revenue increased 37% to $41.1 million, compared to $30.0 millionNet loss was $4.5 million, compared to a net loss of $3.1 millionAdjusted EBITDA* improved to $2.8 million, compared to $3.1 million Q4 2022 Financial Summary Compared to Q4 2021 Total revenue decreased 15% to $8.8 million, compared to $10.3 millionManaged Services revenue decreased 15% to $8.4 million, compared to $9.9 millionSaaS Services revenue decreased 17% to $0.37 million, compared to $0.45 millionTotal costs and expenses were approximately $10.2 million for both periodsNet loss was $0.9 million compared to net income of $0.3 millionAdjusted EBITDA* for the quarter was $(0.3) million, compared to $0.5 millionCash and investments at December 31, 2022 totaled $70.0 million with no long-term debt Q4 2022 Operational Highlights Launched IZEA Flex and The Creator Marketplace as new SaaS offeringsEstablished sales operations in China and the United KingdomAwarded 5 distinctions from Comparably, including Best CEO, Best Career Growth, and Best Leadership Team * 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“Team IZEA delivered our strongest annual revenue in the history of the company in 2022, and I am incredibly proud of the work our team put forth in order to deliver this growth,” Ted Murphy, IZEA’s Chairman and CEO. “In 2022 we launched two new platforms, established sales operations in China and the United Kingdom, and dramatically improved our operational efficiency at the same time. Our average revenue per FTE grew by 55% last year, an all-time record.” \"While 2022 was a boom year for our company, it is clear that the macroeconomic environment began to change in the back half of last year. Our team has been making a variety of adjustments over the past year to focus our efforts on driving efficiency. We expect the remainder of the first half of 2023 to contain continued turbulence, ...