IZEA Worldwide, Inc., a premier provider of influencer marketing technology, data, and services for the world’s leading brands, reported its financial and operational results for the fourth quarter ended December 31, 2023.
Q4 2023 Financial Summary Compared to Q4 2022
- Total revenue increased 1.0% to $8.9 million, compared to $8.8 million
- Total costs and expenses increased 8.5% to $11.1 million, compared to $10.2 million
- Net loss was $1.5 million, compared to a net loss of $0.9 million
- Adjusted EBITDA* for the quarter was a loss of $1.1 million, compared to a loss of $0.3 million
- Cash, cash equivalents and investments as of December 31, 2023 totaled $64.2 million with no long-term debt
Q4 2023 Operational Highlights
- IZEA named “Best Influencer Marketing Company” in 2023 MarTech Breakthrough Awards Program
- Expanded sales presence into the South Korea market
- Launched Offers, Creator Experience, and Offer Negotiation in IZEA Flex
- Launched GPT-4 and AI Video Generation Tool in FormAI in IZEA’s Creator Marketplace
FY 2023 Financial Summary Compared to FY 2022
- Total revenue decreased 12% to $36.2 million, compared to $41.1 million
- Net loss was $7.3 million, compared to a net loss of $4.5 million
- Adjusted EBITDA* was a loss of $5.5 million, compared to a loss of $2.8 million
* Adjusted EBITDA is a non-GAAP financial measure. For the definition and reconciliation of this measure, refer to “Use of Key Metrics and Non-GAAP Financial Measures.”
Management Commentary
“Last year we made comprehensive strategic adjustments to better position ourselves for 2024 and beyond,” commented Ted Murphy, Founder and CEO of IZEA. “This included shifts in organizational frameworks, as well as updates to our platforms and pricing strategies. We made these challenging yet necessary transitions to improve our operations, setting the stage for an upcoming era of ambitious global expansion through both organic and inorganic initiatives. I’m happy to report that we are beginning to see the positive outcomes of these changes in the first quarter of this year.”
“Year-over-year managed services bookings growth has returned in Q1 of 2024, fueled by a strong pipeline in Q4 of 2023, and an all-time record breaking pipeline in Q1 of 2024. Not only have we seen a pipeline record in terms of dollar value, we have also seen a jump in terms of number of opportunities, which is core to our revenue diversification strategy moving forward. While Managed Services represents the overwhelming majority of revenue, SaaS revenue has begun to rebound after hitting a low point in Q3 of 2023. We ended 2023 with a record count of active SaaS customers, and that trend has continued into the first quarter.”
“We are excited and optimistic about the years ahead, and believe that IZEA is well positioned to capitalize on global opportunities in the creator economy.”
For more such updates, follow us on Google News Martech News