Business
IZEA Sets All-Time Quarterly Managed Services Bookings Record, Tops $11.5 Million in Q1 to Date
Orlando, Florida, March 24, 2022 (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, Florida, March 24, 2022 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA), the premier provider of influencer marketing technology, data, and services for the world’s leading brands, announced today that it has set a new all-time record for quarterly Managed Services bookings. Managed Services bookings for the first quarter to date have surpassed $11.5 million, compared with $6.45 million in Q1 2021, an increase of over 80% year over year. IZEA has surpassed the previous quarterly Managed Services bookings record of $11.3 million, set in Q3 of 2021. Three-Year Completed Q1 Managed Services Bookings Progression:Q1 2019: $3.48 millionQ1 2020: $2.85 millionQ1 2021: $6.45 millionQ1 2022: $11.5 million to date Bookings are a measure of all sales orders 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. Bookings are not always an indicator of revenue for the quarter and could be subject to future adjustment. Revenue from Managed Services bookings is typically recognized over a nine-month period on average. “We have seen a significant positive progression in Managed Services bookings showing a recovery following the initial onset of COVID-19 in March of 2020,” said Ted Murphy, IZEA Founder and CEO. “Our focus on providing the highest quality service to our customers is being rewarded with both new contracts and expansion of existing relationships. IZEA continues to show positive momentum with Managed Services bookings in the month of March despite the environment of global financial and geopolitical challenges.” 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 today’s top social influencers and content creators. The company serves as a champion for the growing Creator Economy, enabling individuals to monetize their content, creativity, and influence. IZEA launched the industry’s first-ever influencer marketing platform in 2006 and has since facilitated nearly 4 million transactions between online buyers and sellers. Leading brands and agencies partner with IZEA to increase digital engagement, diversify brand voice, scale content production, and...