IZEA Announces Q1 2024 Managed Services Bookings Of $9.3M, A 53% Increase YoY
Portfolio Pulse from Benzinga Newsdesk
IZEA Worldwide, Inc. (NASDAQ:IZEA) reported a 53% YoY increase in Q1 2024 Managed Services bookings, totaling $9.3 million, up from $6.1 million in Q1 2023. The growth is attributed to organic efforts and a record-setting sales pipeline. Additionally, the company saw a recovery in SaaS revenue, ending Q1 2024 with the highest number of SaaS customers ever. Bookings, which are not a direct indicator of revenue, are expected to be recognized over a seven to nine-month period.
April 04, 2024 | 2:08 pm
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POSITIVE IMPACT
IZEA Worldwide, Inc. reports a significant 53% increase in Managed Services bookings for Q1 2024, reaching $9.3 million, and a recovery in SaaS revenue with a record number of customers.
The substantial year-over-year growth in Managed Services bookings and the recovery in SaaS revenue, along with the highest ever count of SaaS customers, indicate strong operational performance and potential revenue growth. This positive news is likely to be viewed favorably by investors, potentially leading to a short-term increase in IZEA's stock price. The emphasis on organic growth and the strategic focus on diversifying revenue streams further bolster the company's outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100