IZEA Worldwide, Inc. ( (IZEA) ) has released its Q3 earnings. Here is a breakdown of the information IZEA Worldwide, Inc. presented to its investors.
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IZEA Worldwide, Inc., a notable player in the influencer marketing industry, offers a range of marketing technology and services tailored to the Creator Economy, helping brands connect with social influencers and content creators.
In the third quarter of 2024, IZEA reported an increase in revenue, reaching $8.8 million, up 12% compared to the previous year. Despite this growth, the company faced a significant rise in costs and expenses, leading to a net loss of $8.8 million.
Key financial highlights include a 10% increase in Managed Services revenue, totaling $8.6 million, and a remarkable 260% growth in SaaS Services revenue. However, the company also reported a substantial increase in total costs and expenses, primarily due to a $4 million non-cash charge for goodwill impairment, higher human capital costs, and expenses related to management transition.
Looking forward, IZEA’s management remains optimistic about future growth, expecting positive year-over-year growth in the upcoming quarters. The company continues to expand its client base with new business from major brands like Nestlé and Danone, and its innovative AI assistant, IZZY, promises to enhance its marketing offerings further.
