Orlando, Florida (August 27, 2021) – 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 surpassed $23.5 million in Managed Services Bookings Year to Date, already making 2021 the best year in company history for bookings – with one third of the fiscal year still remaining. Total managed services bookings for the full 2020 fiscal year were $17.3 million.
“We started to see a material uptick in year over year bookings beginning in Q4 of 2020, and that trend has continued throughout 2021,” commented Ted Murphy, Founder and CEO of IZEA. “We have added three new Fortune 500 customers in the month of August alone, and Managed Services bookings for the third quarter so far are already up 50% compared to Q3 2020, with another month to go. SaaS customer count has broken its previous record thus far in the third quarter, led primarily by IZEAx Discovery and continued expansion of IZEAx Unity Suite among smaller brands and agencies.”
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. Revenue from Managed Services bookings are typically recognized over a 9-month period on average, though larger contracts may be recognized over longer periods of time. IZEA recognizes Managed Services revenue based on a percentage of completion.
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