ORLANDO, Fla., Sept. 09, 2024 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA), a leading provider of influencer marketing technology today announced the appointment of Patrick Venetucci as the company's new Chief Executive Officer. A transformational leader with a proven track record of spearheading rapid growth and innovation, Mr. Venetucci brings more than 30 years of experience in the marketing and media industries, as well as extensive M&A expertise. "Patrick's experience is a great fit for IZEA ...

ORLANDO, Fla., Aug. 22, 2024 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA), the premier provider of technology, data, and services for the Creator Economy, released the 2024 China edition of its research report, "Trust in Influencer Marketing," today. The report is based on Chinese consumer sentiment and examines the effectiveness of influencer marketing in terms of consumer trust and engagement. The survey found that social shopping is far more accepted in China than in the United States. 92% of ...

ORLANDO, Fla., Aug. 20, 2024 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA), the premier provider of technology, data, and services for the Creator Economy, released its research report, "Influencers & The 2024 Election," today. The report is based on United States consumer sentiment and examines how social media influences political engagement and sentiment and the role of influencers in shaping political opinions. The survey found that 52% of social media users believe that influencers have a res ...

ORLANDO, Fla., Aug. 19, 2024 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA), the premier provider of technology, data, and services for the Creator Economy, today announced that IZEA Flex has been named the Best Influencer Marketing Platform in the 2024 MarTech Breakthrough Awards. This annual program, conducted by MarTech Breakthrough—a leading market intelligence organization—celebrates the top companies, technologies, and products in the global marketing, sales, and advertising technology indust ...

ORLANDO, Fla., Aug. 15, 2024 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA), the premier provider of technology, data, and services for the Creator Economy, today announced it has appointed Justin Teo as its new Country Manager for its China operations. Based in Shanghai, Teo has more than 20 years of experience in marketing leadership and brings a wealth of knowledge and expertise in retail and MarTech. He previously served as Chief Digital Officer/Head of Digital at Edelman and Chief Digital Offi ...

[Q2 2024 Performance Overview](index=1&type=section&id=Q2%202024%20Performance%20Overview) IZEA's Q2 2024 performance reflects a revenue decrease driven by Managed Services, strong SaaS growth, and notable operational advancements including new AI product launches [Financial Summary](index=1&type=section&id=Financial%20Summary) IZEA's second quarter 2024 revenue decreased 14.9% year-over-year to $9.1 million, primarily due to a 16.6% decline in Managed Services, while SaaS Services revenue surged 244.3%, and net loss widened to $2.2 million from $1.0 million, despite a strong balance sheet with $56.5 million in cash and investments and no long-term debt Q2 2024 Financial Summary vs. Q2 2023 | Metric | Q2 2024 | Q2 2023 | Change | | :--- | :--- | :--- | :--- | | Total Revenue | $9.1 million | $10.7 million | -14.9% | | Managed Services Revenue | $8.9 million | $10.6 million | -16.6% | | SaaS Services Revenue | $0.2 million | $0.1 million | +244.3% | | Net Loss | $2.2 million | $1.0 million | +120.0% | | Adjusted EBITDA | $(1.6) million | $(0.6) million | -166.7% | - The company reported a strong liquidity position with **$56.5 million** in cash, cash equivalents, and investments as of June 30, 2024, and carries no long-term debt[2](index=2&type=chunk) [Operational Highlights](index=1&type=section&id=Operational%20Highlights) During the second quarter, IZEA achieved significant operational milestones, including winning multiple Viddy Awards for its "Barbie" movie campaign, recognition for its technology, and the unveiling of IZZY, a new AI assistant for influencer marketing - Key operational achievements in Q2 2024 include: - Won multiple Viddy Awards for the "Barbie" movie campaign - IZEA Flex and FormAI were featured on PR Daily's 2024 PR Tech Hot List - Unveiled and launched IZZY, an AI assistant for influencer marketing, in a private beta - Recognized as a Top Place to Work and a Great Place to Work[2](index=2&type=chunk) [Management Commentary](index=1&type=section&id=Management%20Commentary) CEO Ted Murphy reported a record quarter for Managed Services bookings, anticipating a return to year-over-year revenue growth, and highlighted a promising resurgence in the SaaS business with an all-time record number of active SaaS customers - Excluding revenue from a non-recurring customer parted with in 2023, Managed Services revenue demonstrated strong underlying growth of **22% year-over-year**[3](index=3&type=chunk) - The company achieved a record quarter for Managed Services bookings, leading to a **$1.1 million** sequential increase in revenue backlog, which now stands at **$15.6 million**[3](index=3&type=chunk) - The SaaS business is showing a promising resurgence, concluding Q2 with a new all-time record number of active SaaS customers, a positive trend that has continued into Q3[3](index=3&type=chunk) [Detailed Financial Analysis](index=1&type=section&id=Detailed%20Financial%20Analysis) This section provides a detailed analysis of IZEA's Q2 2024 financial performance, focusing on revenue trends, cost structures, and overall profitability [Revenue Analysis](index=1&type=section&id=Revenue%20Analysis) Total revenue for Q2 2024 was $9.1 million, a 14.9% decrease from Q2 2023, primarily due to a 16.6% decline in Managed Services revenue, while SaaS Services revenue showed significant growth, increasing 244.3% to $243,353, and Managed Services bookings grew robustly to $10.3 million Revenue by Service Type (Three Months Ended June 30) | Service Type | 2024 Revenue | 2023 Revenue | % Change | | :--- | :--- | :--- | :--- | | Managed Services | $8,850,463 | $10,618,381 | (16.6)% | | SaaS Services | $243,353 | $70,678 | 244.3% | | **Total Revenue** | **$9,093,816** | **$10,689,059** | **(14.9)%** | - Excluding the impact of a non-recurring customer from 2023, Managed Services revenue increased by **$1.6 million**, or **21.7%**, over the prior-year quarter[4](index=4&type=chunk) - Managed Services bookings increased to **$10.3 million** compared to **$7.3 million** in the prior-year quarter, with organic growth accounting for over **90%** of the bookings[4](index=4&type=chunk) [Costs, Expenses, and Profitability](index=1&type=section&id=Costs%2C%20Expenses%2C%20and%20Profitability) Total costs and expenses decreased slightly by 3.1% to $12.0 million, and while cost of revenue improved to 56.9% of revenue, increased spending on sales & marketing and general & administrative expenses, combined with lower revenue, resulted in a wider net loss of $2.2 million, or $(0.13) per share Profitability Metrics (Q2 2024 vs. Q2 2023) | Metric | Q2 2024 | Q2 2023 | | :--- | :--- | :--- | | Net Loss | $2.2 million | $1.0 million | | Loss Per Share | $(0.13) | $(0.07) | | Adjusted EBITDA | $(1.6) million | $(0.6) million | - Cost of revenue decreased to **$5.2 million** (**56.9% of revenue**) from **$6.3 million** (**58.5% of revenue**) in the prior-year quarter, indicating improved margins[5](index=5&type=chunk) - Operating expenses increased, with Sales and marketing costs rising **13.2%** to **$3.2 million** and General and administrative costs rising **6.5%** to **$3.4 million**, primarily due to investments in demand generation and increased human capital costs[6](index=6&type=chunk) [Financial Statements](index=4&type=section&id=Financial%20Statements) This section presents IZEA's consolidated financial statements, including balance sheets, statements of operations, and statements of comprehensive loss for the reporting period [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2024, IZEA reported total assets of $72.7 million, a decrease from $79.4 million at the end of 2023, while maintaining a strong liquidity position with cash and cash equivalents of $44.3 million, and total liabilities decreased to $12.0 million from $14.1 million, with total stockholders' equity at $60.8 million Selected Balance Sheet Data (Unaudited) | Account | June 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $44,301,866 | $37,446,728 | | Total current assets | $62,295,193 | $60,351,403 | | Total assets | $72,739,351 | $79,425,466 | | Total current liabilities | $11,644,789 | $13,593,413 | | Total liabilities | $11,965,518 | $14,112,078 | | Total stockholders' equity | $60,773,833 | $65,313,388 | [Consolidated Statements of Operations](index=6&type=section&id=Consolidated%20Statements%20of%20Operations) For the three months ended June 30, 2024, IZEA's revenue was $9.1 million with total costs and expenses of $12.0 million, resulting in a loss from operations of $2.9 million, and a net loss for the quarter of $2.2 million, compared to a net loss of $1.0 million in the same period of 2023 Statement of Operations Summary (Three Months Ended June 30) | Account | 2024 | 2023 | | :--- | :--- | :--- | | Revenue | $9,093,816 | $10,689,059 | | Total costs and expenses | $11,983,124 | $12,364,839 | | Loss from operations | $(2,889,308) | $(1,675,780) | | Net loss | $(2,194,828) | $(1,033,426) | | Basic and diluted loss per share | $(0.13) | $(0.07) | [Consolidated Statements of Comprehensive Loss](index=7&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Loss) For the second quarter of 2024, the total comprehensive loss was $2.1 million, including a net loss of $2.2 million partially offset by other comprehensive income, which compares to a total comprehensive loss of $1.0 million in the prior-year quarter Comprehensive Loss Summary (Three Months Ended June 30) | Account | 2024 | 2023 | | :--- | :--- | :--- | | Net loss | $(2,194,828) | $(1,033,426) | | Total other comprehensive income (loss) | $(76,158) | $(10,100) | | **Total comprehensive loss** | **$(2,118,670)** | **$(1,023,326)** | [Appendix](index=3&type=section&id=Appendix) The appendix clarifies the use of key financial metrics, provides a reconciliation of GAAP to non-GAAP measures, and includes a standard safe harbor statement [Use of Key Metrics and Non-GAAP Financial Measures](index=3&type=section&id=Use%20of%20Key%20Metrics%20and%20Non-GAAP%20Financial%20Measures) The company explains its use of Managed Services bookings as a measure of business health and Adjusted EBITDA as a non-GAAP measure for consistent period-to-period comparisons - Managed Services bookings are a key metric reflecting sales orders in a period, used by management to plan staffing and go-to-market activities, but may not be used to predict quarterly revenues due to timing differences in revenue recognition[9](index=9&type=chunk) - Adjusted EBITDA is a non-GAAP measure defined as earnings or loss adjusted for interest, taxes, depreciation, amortization, stock-based compensation, and other specific non-cash or unusual items, used to facilitate period-to-period comparisons[10](index=10&type=chunk) [Reconciliation of GAAP Net loss to Non-GAAP Adjusted EBITDA](index=9&type=section&id=Reconciliation%20of%20GAAP%20Net%20loss%20to%20Non-GAAP%20Adjusted%20EBITDA) This section provides a detailed reconciliation from GAAP Net Loss to non-GAAP Adjusted EBITDA, showing that for Q2 2024, a net loss of **$2.2 million** was adjusted for non-cash items, resulting in an Adjusted EBITDA loss of **$1.6 million**, compared to **$0.6 million** in Q2 2023 Adjusted EBITDA Reconciliation (Three Months Ended June 30) | Line Item | 2024 | 2023 | | :--- | :--- | :--- | | **Net loss (GAAP)** | **$(2,194,828)** | **$(1,033,426)** | | Non-cash stock-based compensation | $394,931 | $207,875 | | Depreciation and amortization | $225,748 | $110,432 | | Other adjustments | $14,223 | $81,319 | | **Adjusted EBITDA (Non-GAAP)** | **$(1,559,968)** | **$(636,955)** | [Safe Harbor Statement](index=4&type=section&id=Safe%20Harbor%20Statement) This is a standard legal disclaimer that classifies forward-looking statements within the release under the Private Securities Litigation Reform Act of 1995, cautioning that these statements involve inherent risks and uncertainties that could cause actual results to differ materially from expectations - The release contains forward-looking statements regarding future financial performance, product development, and business strategy, which are subject to risks and uncertainties, and the company assumes no obligation to update them[11](index=11&type=chunk)

ORLANDO, Fla., Aug. 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 second quarter ended June 30, 2024. Q2 2024 Financial Summary Compared to Q2 2023 Total revenue decreased 14.9% to $9.1 million, compared to $10.7 million Managed Services revenue decreased 16.6% to $8.9 million, compared to $10.6 million SaaS Services revenue increased 2 ...

Company Overview - IZEA Worldwide, Inc. is a marketing technology company that provides software and professional services for brands to collaborate with social influencers and content creators [5] - The company has facilitated nearly 4 million transactions between online buyers and sellers since launching the first influencer marketing platform in 2006 [5] - IZEA aims to empower individuals in the Creator Economy to monetize their content, creativity, and influence [5] Financial Results Announcement - IZEA will hold a conference call to discuss its second quarter 2024 financial results on August 14, 2024, at 5:00 p.m. Eastern Daylight Time [2][4] - The call will be hosted by key executives including Chairman and CEO Ted Murphy, President and COO Ryan Schram, and CFO Peter Biere [3]

Core Insights - The report "Trust in Influencer Marketing" reveals that 59% of Australian consumers trust sponsored posts by influencers more than those by A-list celebrities, indicating a shift in consumer trust towards influencers [3][4] - The survey indicates that 70% of 18-to-29-year-olds have made purchases after seeing products used by influencers, highlighting the effectiveness of influencer marketing among younger demographics [2][4] Insights for Influencers and Consumers - 46% of all respondents have purchased products promoted by influencers, showcasing the direct impact of influencer marketing on consumer purchasing behavior [4] - 59% of respondents are more likely to trust an influencer's sponsored post over one from a celebrity, emphasizing the importance of authenticity in influencer marketing [4] Insights for Marketers - 53% of social media users prefer content created by social media influencers over that from marketing professionals, suggesting a need for brands to adapt their marketing strategies [5] - 54% of respondents aged 18-29 have purchased a product directly from a social media app, indicating a growing trend of social commerce [5] Insights for Social Media Audiences - The most popular social media platforms in Australia include Facebook, YouTube, Instagram, and TikTok, which are crucial for marketers to consider in their strategies [6] - 48% of 18-to-29-year-olds follow more than 21 influencers, reflecting the high engagement levels with influencer content among younger audiences [6] Research Methodology - The findings are based on responses from 1,006 social media users in Australia aged 18 and above, providing a robust sample for understanding consumer behavior [7]

Company Overview - IZEA Worldwide, Inc. is a global leader in creator marketing, providing software and professional services that enable brands to collaborate with top social influencers and content creators [7] - The company has facilitated nearly 4 million transactions between online buyers and sellers since launching the industry's first influencer marketing platform in 2006 [7] Acquisition Details - IZEA announced the acquisition of The Reiman Agency, a boutique sports and celebrity marketing firm, enhancing its capabilities in the creator economy [2][4] - Alden Reiman, the Founder and CEO of The Reiman Agency, has been appointed as Managing Director, bringing extensive experience from his previous roles in sports and media [3][4] Strategic Implications - The acquisition is seen as a significant step in expanding IZEA's capabilities and capturing new opportunities in the evolving landscape of sports-oriented influencer marketing, particularly with the introduction of Name, Image, and Likeness (NIL) regulations [4] - The collaboration aims to leverage advanced technology and shared infrastructure to drive efficiencies and growth, positioning IZEA at the forefront of the creator economy [4]