“IZEA ended Q4 with Managed Services bookings that were largely in line with Q4 2022, despite a variety of headwinds we had to overcome throughout the year,” stated
“In 2023, we parted ways with a large customer that represented over 20% of our annual bookings in 2022. As we set our sights on rebuilding from the loss in 2023, one of our primary goals was customer and revenue diversification,” continued Murphy. “I am pleased to share that we finished 2023 with the largest number of active customers we have ever had, including a SaaS customer base that hit an all-time high in December. We believe we will see a return to year-over-year Managed Services bookings growth in 2024, with quarterly SaaS revenue continuing to build from the low point we hit in Q3 of 2023.”
Bookings are a measure of all sales orders 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. Bookings are not always an indicator of revenue for the quarter and could be subject to future adjustments. Revenues from Managed Services bookings are typically recognized over a seven to nine-month period on average.
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Attachment
- IZEA Announces Q4 2023 Managed Services Bookings
Matt Gray IZEA Worldwide, Inc. Phone: 407-674-6911 Email: ir@izea.com
IZEA Announces Q4 2023 Managed Services Bookings
IZEA's Managed Services team secured contract bookings totaling $7.7 million in the fourth quarter of 2023
2024 GlobeNewswire, Inc., source