IZEA(US:IZEA)2025-03-27 21:48Financial Data and Key Metrics Changes - Total revenue for 2024 was $35.9 million, a slight decline of 1% from $36.2 million in 2023 [7] - Managed Services revenue for 2024 was $35.1 million, down 2% from 2023, but grew 16.3% when excluding a non-recurring customer and divested revenue [8][11] - Net loss for 2024 was $18.9 million, an increase of $11.5 million compared to a net loss of $7.4 million in 2023 [12] - Adjusted EBITDA for Q4 2024 was negative $1.5 million, compared to negative $1.1 million in Q4 2023 [19] Business Line Data and Key Metrics Changes - Total revenue for Q4 2024 was approximately $11 million, a 23.7% increase year-over-year [13] - Managed Services revenue in Q4 2024 was $10.9 million, growing 24% compared to the prior year quarter [13] - Managed Services bookings grew about 45% to $11 million in Q4 2024 compared to $7.6 million in Q4 2023 [14] - SaaS Services revenue totaled $117,000 in Q4 2024, slightly up from $111,000 in the prior year quarter [15] Market Data and Key Metrics Changes - The company divested its Australian subsidiary, Hoozu, which accounted for $3.4 million in 2024 revenue but was unprofitable [11] - The focus is shifting to an "America-first" strategy to mitigate geopolitical, tariff, and currency risks [24] Company Strategy and Development Direction - The company is simplifying its product offerings to enhance customer experience and focusing on high-growth market segments [25] - A strategic reset was initiated in Q4 2024, emphasizing cost structure improvements and a path to breakeven on a cash basis [26] - The share buyback commitment was increased from $5 million to $10 million, reflecting confidence in the company's value [23] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's future and the ability to deliver additional value to stakeholders [30] - The strategic actions taken in Q4 are expected to accelerate the path to profitability [29] Other Important Information - The company had $51.1 million in cash and investments as of December 31, 2024, a decrease of $3.3 million from the prior year quarter [19] - There is no debt on the balance sheet, positioning the company well for future growth and acquisition opportunities [21] Q&A Session Summary - No specific questions or answers were documented in the provided content, indicating the end of the Q&A session without notable inquiries or responses [32]