IZEA Worldwide, Inc. the premier provider of influencer marketing technology, data, and services for the world’s leading brands, announced that it has been awarded a new $1 million contract expansion to provide influencer marketing services to a Fortune 500 consumer electronics manufacturer.
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“Team IZEA is off to a strong start for Q3 2021, bolstered by several meaningful contract awards from repeat customers,” said Ted Murphy, Founder, Chairman and CEO of IZEA. “We have already set a record for the best Managed Services bookings in the month of July, and we are continuing to see strong demand for our expertise in the influencer marketing industry.”
IZEA recently announced that Managed Services bookings in the second quarter of 2021 increased 187% to $11.1 million as compared to the second quarter of 2020, which were $3.9 million. IZEA’s net income and cash flow results will be announced, along with the rest of the company’s financial performance, as part of its Q2 2021 earnings release, which is tentatively scheduled for August 12, 2021.
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Bookings are a measure of all sales orders minus any known 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.
