IZEA Worldwide, Inc. (NASDAQ:IZEA) Q4 2024 Earnings Conference Call March 27, 2025 5:00 PM ET Company Participants Matt Gray - Vice President, Marketing Peter Biere - Chief Financial Officer Patrick Venetucci - Chief Executive Officer Operator Greetings, and welcome to the IZEA Worldwide, Inc. Fourth Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. [Operator Instructions] As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to Matt ...

Table of Contents FORM 10-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________________ to _________________ Commission File No.: 001-37703 IZEA WORLDWIDE, INC. (Exact name of registrant as specified in its charter) | N ...

Revenue Growth - Total revenue in Q4 2024 increased 23.7% to $11.0 million, compared to $8.9 million in Q4 2023[4] - Managed Services revenue increased by 24.0% to $10.9 million in Q4 2024, compared to $8.8 million in Q4 2023[7] - Managed Services bookings increased 52.8% to $11.7 million in Q4 2024, compared to $7.6 million in Q4 2023[7] - Revenue for Q4 2024 was $11,002,517, representing a 24% increase from $8,892,916 in Q4 2023[27] - Managed Services Revenue accounted for 99% of total revenue in Q4 2024, totaling $10,885,094, up 24% from $8,781,825 in Q4 2023[27] - SaaS Services Revenue increased by 74% year-over-year, reaching $822,987 in 2024 compared to $473,913 in 2023[27] Costs and Expenses - Total costs and expenses increased 28.0% to $14.2 million in Q4 2024, compared to $11.1 million in Q4 2023[7] - Total costs and expenses for Q4 2024 were $14,181,270, up from $11,081,417 in Q4 2023, reflecting a 28% increase[27] - Impairment expense for Q4 2024 was $113,755, while the company recorded a significant impairment of goodwill and intangible assets totaling $4,130,477 for the full year[29] Net Loss - Net loss in Q4 2024 was $4.6 million, compared to a net loss of $1.5 million in Q4 2023[8] - Net loss for Q4 2024 was $4,623,264, compared to a net loss of $1,526,657 in Q4 2023, indicating a significant increase in losses[25] - The company reported a total comprehensive loss of $4,396,551 for Q4 2024, compared to a loss of $1,263,931 in Q4 2023[25] - Adjusted EBITDA for Q4 2024 was $(1.5) million, compared to $(1.1) million in the same period last year[9] - Adjusted EBITDA for Q4 2024 was $(1,480,243), compared to $(1,105,973) in Q4 2023, showing a worsening operational performance[29] - The company experienced a loss on divestiture of $2,286,083 in Q4 2024, contributing to the overall net loss[29] Cash and Investments - Cash, cash equivalents, and investments as of December 31, 2024 totaled $51.1 million[9] Workforce and Divestiture - Targeted workforce reductions are expected to save $5.1 million annually in full-time and contract labor costs[7] - The company divested its Hoozu investment, which generated $3.4 million in revenue in 2024 and incurred a $0.7 million annual net loss[7] - New business was won from clients including Academy Sports, NHTSA, and Navy Federal Credit Union[7] Shares Outstanding - The weighted average common shares outstanding increased to 16,965,350 in Q4 2024 from 16,269,346 in Q4 2023[25]

ORLANDO, Fla., March 27, 2025 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA), a leading influencer marketing company that makes Creator Economy solutions for marketers, reported its financial and operational results for the fourth quarter and year ended December 31, 2024. Q4 2024 Financial Summary Compared to Q4 2023 Total revenue increased 23.7% to $11.0 million, compared to $8.9 millionManaged Services bookings increased 52.8% to $11.7 million, compared to $7.6 millionManaged Services revenue inc ...

ORLANDO, Fla., March 21, 2025 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ:IZEA), the premier provider of services, technology, and data for the Creator Economy, announced today that its conference call to review and discuss its fourth quarter 2024 and full-year financial results will begin at 5:00 p.m. Eastern Daylight Time on March 27, 2025. IZEA's Chief Executive Officer Patrick Venetucci and Chief Financial Officer Peter Biere will host the call, followed by a question and answer period. Date: Thurs ...

Company Overview - IZEA Worldwide, Inc. is a leading provider of influencer marketing solutions within the Creator Economy, enabling brands to collaborate with top social influencers and content creators [4] - The company launched the first influencer marketing platform in 2006 and has facilitated nearly 4 million transactions between online buyers and sellers [4] - IZEA has partnered with leading brands and agencies, including half of the Fortune 50, to enhance digital engagement and drive measurable ROI [4] Leadership Appointment - Frank Carvalho has been appointed as Executive Vice President of Sales and Marketing, bringing over 30 years of global marketing experience [1][2] - Carvalho previously served as Chief Marketing Officer at Foap, where he expanded the company's global presence and strengthened partnerships with major social platforms [1] - His background includes leadership roles at agencies like Leo Burnett and Publicis Groupe, and with brands such as Coca-Cola, Merck, and Vodafone [2] Strategic Goals - Carvalho's expertise in marketing and understanding of the Creator Economy is expected to drive growth and innovation at IZEA [3] - The company aims to deepen partnerships and enhance its market position to empower creators, platforms, and brands globally [3] - CEO Patrick Venetucci emphasized that Carvalho's leadership will accelerate momentum and strengthen client partnerships [3]

Financial Data and Key Metrics - Total revenue for Q3 2024 was $8.8 million, a 12% increase compared to the prior year quarter Excluding revenue from a nonrecurring customer, revenue grew 27% year-over-year [7] - Managed Services revenue was $8.6 million, up 10% from Q3 2023 Excluding the nonrecurring customer, Managed Services revenue increased by $1.7 million or 25% [10] - SaaS Services revenue totaled $206,000, up significantly from $57,000 in the prior year quarter [11] - Net loss for Q3 2024 was $8.8 million or negative $0.52 per share, compared to a net loss of $2 million or negative $0.13 per share in Q3 2023 [14] - Adjusted EBITDA was negative $2.8 million, compared to negative $1.5 million in the prior year quarter [14] - Cash and investments totaled $54.4 million as of September 30, 2024, a decrease of $2.1 million during the quarter [15] Business Line Performance - Managed Services demand grew 11% to $7.9 million in Q3 2024, slightly lower than the first half of 2024 due to timing and reduced marketing budgets in emerging markets [8] - Managed Services backlog totaled $14.6 million on September 30, 2024, a decrease of $1 million from Q2 2024 but an increase of $3.4 million year-to-date [9] - SaaS Services revenue growth was driven by active use of IZEA's AI tools by customers [11] Market and Operational Highlights - The company won new business from major clients including Nestle, Danone, Coursera, and NHTSA [25] - IZEA launched IZZY, an AI assistant for marketers, leveraging its rich data set to enhance creator campaign decisions [26] - The company received multiple awards for its work, including the Global Influencer Marketing Awards and recognition as a Great Place to Work [26] Strategic Direction and Industry Competition - The company is focused on simplifying, fortifying, and focusing its go-to-market model to drive top-line growth and achieve profitability [27] - Resources are being shifted from merely growing business segments to those with profitable growth potential [27] - The 2025 business plan process is underway, with more strategic direction to be shared at the next investor meeting [28] Management Commentary on Operating Environment and Future Outlook - Management expressed optimism about the company's future, citing a strong talent base, extensive client list, and robust tech product innovation pipeline [23] - The company is making progress in its transformational changes, with the Board and management confident in delivering value to stakeholders [28] Other Important Information - The company incurred a $4 million noncash charge due to goodwill impairment related to the 2019 acquisition of Tapinfluence [13] - IZEA adopted a Safe Harbor 10b5-1 plan to purchase shares, acquiring 51,503 shares at an average price of $2.74 for a total investment of $142,273 [16] - The company has no debt and is in a solid position to execute on organic growth and acquisition opportunities [17] Q&A Session Summary - No questions were asked during the Q&A session [30][33]

Financial Performance - Total revenue for the three months ended September 30, 2024, was $8,831,794, representing a 12% increase from $7,894,901 in the same period of 2023[134] - Total revenue for the nine months ended September 30, 2024 was $24,878,493, a decrease of $2,443,189 or 9% compared to the same period in 2023[144] - Managed Services revenue increased by $788,199, or 10%, from $7,837,725 in 2023 to $8,625,924 in 2024, with recurring customer revenue rising by $1.7 million, or 25%[135] - Managed Services revenue decreased by $2.8 million, or 10%, during the nine months ended September 30, 2024, while SaaS Services revenue increased by $342,742, or 94%[146] - SaaS Services revenue surged to $205,870 in Q3 2024, a 260% increase from $57,176 in Q3 2023, driven by a higher number of licensees[135] - Managed Services Bookings for the three months ended September 30, 2024 was $7.9 million, compared to $7.1 million for the same period in 2023[155] - Total gross billings for the three months ended September 30, 2024, reached $9,276,178, representing a 14% increase from $8,110,050 in the prior year[157] - SaaS Services gross billings for the three months ended September 30, 2024, were $650,254, a significant 139% increase from $272,325 in the same period of 2023[157] Expenses and Losses - Cost of revenue for Q3 2024 was $5,210,104, an 11% increase from $4,685,437 in Q3 2023[134] - General and administrative expenses rose significantly by 93% to $5,840,027 in Q3 2024, compared to $3,032,759 in Q3 2023[134] - The impairment of goodwill was recorded at $4,016,722 in Q3 2024, marking a 100% increase from zero in Q3 2023[134] - Total costs and expenses for Q3 2024 amounted to $18,186,022, a 73% increase from $10,536,041 in Q3 2023[134] - Net loss for Q3 2024 was $8,768,319, a 342% increase from $1,982,938 in Q3 2023[134] - General and administrative expense for the three months ended September 30, 2024 increased by $2.8 million, or approximately 93%, primarily due to higher human capital costs related to executive departures[138] - Net loss from operations for the nine months ended September 30, 2024 was $14.2 million, an increase of $8.4 million from the net loss of $5.8 million for the same period in 2023[153] - The company reported a net loss of $8,768,319 for the three months ended September 30, 2024, compared to a net loss of $1,982,938 in the same period of 2023[161] - Adjusted EBITDA for the three months ended September 30, 2024, was $(2,833,720), which is a decline from $(1,549,080) in the same period of 2023[161] Cash and Financial Position - Cash and cash equivalents increased to $46.0 million as of September 30, 2024, up from $37.4 million as of December 31, 2023[162] - The company incurred net cash used for operating activities of $(8,657,588) during the nine months ended September 30, 2024, compared to $(5,679,905) in the same period of 2023[163] - The company has a total accumulated deficit of $99.7 million as of September 30, 2024[162] Corporate Developments - The company acquired 26 Talent, an Australian talent management agency, on July 1, 2024, enhancing its capabilities in the Asia-Pacific region[127] - The company appointed Patrick J. Venetucci as the new CEO on September 6, 2024, following the resignation of Ted Murphy and Ryan Schram[127] - The Board of Directors has established a Strategic and Capital Allocation Committee to review business strategies and formulate a plan for sustainable profitability[165] Accounting and Reporting - No material changes to critical accounting policies were reported in the Annual Report for the year ended December 31, 2023[167] - For a summary of significant accounting policies, refer to "Note 1 Company and Summary of Significant Accounting Policies" in the Quarterly Report[167] - Recent accounting pronouncements are detailed in "Note 1. Company and Summary of Significant Accounting Policies" in the Quarterly Report[168] - Market risk disclosures are not applicable to smaller reporting companies[169]

IZEA Reports Q3 2024 Revenue of $8.8 Million ORLANDO, Fla. (November 14, 2024) - IZEA Worldwide, Inc. (NASDAQ: IZEA), a premier provider of influencer marketing technology, data, and services for the Creator Economy, reported its financial and operational results for the third quarter ended September 30, 2024. Q3 2024 Financial Summary Compared to Q3 2023 • Total revenue increased 12% to $8.8 million, compared to $7.9 million • Managed Services bookings increased 11% to $7.9 million, compared to $7.1 millio ...

ORLANDO, Fla., Nov. 14, 2024 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA), a premier provider of influencer marketing technology, data, and services for the Creator Economy, reported its financial and operational results for the third quarter ended September 30, 2024. Q3 2024 Financial Summary Compared to Q3 2023 Total revenue increased 12% to $8.8 million, compared to $7.9 millionManaged Services bookings increased 11% to $7.9 million, compared to $7.1 millionManaged Services revenue increased 1 ...