IZEA Worldwide, Inc. (NASDAQ: IZEA), operator of IZEAx, the premier online marketplace connecting brands and publishers with influential content creators, reported total bookings of $7.8 million for the first quarter of 2019, an 18% increase compared to $6.6 million in the same quarter of the prior year. During the first quarter, approximately 38% of bookings came from a combination of software licensing and marketplace spend.
Total bookings are a measure of all sales orders, plus platform spend by self-service customers, 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. Subsequent revenue recognition and effective margins vary by revenue stream, and bookings are not always an indicator of revenue for the quarter and could be subject to future adjustment.
The investments we have made in our software business are beginning to have a substantial impact on the company, said Ted Murphy, IZEAs Chairman and CEO. SaaS Licensing Bookings increased 1,124% from Q1 last year. Our SaaS licensing revenue committed under contract for 2019 is already 37% greater than that of all of 2018. We welcomed many new customers to IZEAx in Q1, including multiple billion-dollar retailers, advertising agencies, and two public relations firms in the global top ten by client billings. We expect the marketplace spend of these new IZEAx customers to begin to ramp in Q2 and Q3 of this year.
About IZEA Worldwide, Inc.
IZEA Worldwide, Inc. (IZEA) operates online platforms that connect marketers with content creators. IZEA platforms automate influencer marketing and custom content development, allowing brands and agencies to scale their marketing programs. IZEA influencers include everyday creators as well as celebrities and accredited journalists. Creators are compensated for producing unique content such as long and short form text, videos, photos, status updates, and illustrations for marketers or distributing such content on behalf of marketers through their personal websites, blogs, and social media channels. Marketers receive influential content and engaging, shareable stories that drive awareness. For more information about IZEA, visit https://izea.com/.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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 anticipates, believes, estimates, expects, intends, may, plans, projects, will, would or other comparable terms. Examples of forward-looking statements include, among others, statements we make regarding expectations of sales activity, revenue and margins based on bookings, especially SaaS licensing bookings, the financial impact of investments in our software business, and continuation of new IZEAx customers and their effect on future sales.
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; changing economic conditions that are less favorable than expected; and other risks and uncertainties described in IZEAs periodic reports filed with the Securities and Exchange Commission. IZEA assumes no obligation to update any such forward-looking statements to reflect actual results or changes in expectations, except as otherwise required by law.
IZEA Worldwide, Inc.
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