IZEA WORLDWIDE, INC. “IZEA saw a slowdown in new bookings in the latter portion of Q2 which impacted the outcome for the overall quarter,” said
“It is important to note that the overwhelming majority of those Q2 opportunities that did not close within the quarter remain intact,” continued Murphy. “This is in contrast to what we saw with the early onset of COVID-19 in 2020, when many opportunities were immediately pulled, and customers went unresponsive for a prolonged period of time. It took several quarters for us to see an incredible bookings rebound after that global economic shockwave. We currently believe this impact will be shorter in duration.”
“The company remains ahead of our internal bookings plans for the front half of 2022,” Murphy added. “Team IZEA is focused on growth. We anticipate that bookings will increase in the back half based on our current pipeline of high-probability customer opportunities.”
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. Revenues from Managed Services bookings are typically recognized over a nine-month period on average.
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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
Attachment
- IZEA Announces Q2 Managed Services Bookings of
$9.3M
Toni-Ann Burke IZEA Worldwide, Inc. Phone: 407-674-6911 Email: ir@izea.com
IZEA Announces Q2 Managed Services Bookings of $9.3M
Record First-Half Bookings of $21.5M , Up 22% Year-Over-Year
2022 GlobeNewswire, Inc., source
