IZEA Awarded Influencer Marketing Contract for New Fortune 100 Client
Company Continues Expansion of Customers in Regulated Industries
Orlando, Florida, Nov. 01, 2021 (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 been awarded a first time contract for a Fortune 100 financial services company. The mid-six figure contract is for managed influencer marketing services and expected to be completed by the end of 2021.
“Our team has done an incredible job establishing and expanding relationships with leading brands throughout 2021,” said Ted Murphy, Founder, Chairman and CEO of IZEA. “I am particularly proud of the progress we have made in regulated and complex industries. We have seen new business in banking, insurance, and alcohol, along with the award of contracts to promote governmental agencies. These relationships often require more time, resources, and persistence to initially navigate, but are also material in size and long-term opportunity for IZEA. We are delighted to add another Fortune 100 company to our client roster and excited by the potential to expand the relationship in 2022 and beyond.”
IZEA recently announced that it set a Managed Services bookings record for the best quarter in company history during Q3. Managed Services bookings in Q3 of 2021 increased 181% year over year to $11.3 million as compared to Q3 of 2020, which were $4.0 million. IZEA’s net income and cash flow results will be announced along with the rest of its financial performance when it announces Q3 earnings, which is scheduled for November 10, 2021.
Bookings are a measure of all sales orders minus any known cancellations or refunds in the same time period 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 adjustments. Revenue from Managed Services bookings is typically recognized over a 9-month period on average, though larger contracts may be recognized over more extended periods of time. IZEA recognizes Managed Services revenue based on a percentage of completion.
To work with IZEA as either an influencer or a marketer visit IZEA.com.
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 drive measurable return on investment.
Safe Harbor Statement
All statements in this release that are not based on historical fact are “forward-looking statements” intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. 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 “may,” “will,” “would,” “could,” “should,” “expect,” “anticipate,” “hope,” “estimate,” “believe,” “intend,” “likely,” “projects,” “plans,” “pursue,” “strategy” or “future,” or the negative of these words or other words or expressions of similar meaning. Examples of forward-looking statements include, among others, statements we make regarding expectations concerning IZEA’s ability to increase revenue and bookings, growth or maintenance of customer relationships, 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; our ability to establish effective disclosure controls and procedures and internal control over financial reporting; our ability to satisfy the requirements for continued listing of our common stock on the Nasdaq Capital Market; 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. The forward-looking statements made in this release speak only as of the date of this release, and 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.
CONTACT: Martin Smith IZEA Worldwide, Inc. Phone: 407-674-6911 Email: ir@izea.com
