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IZEA Worldwide, Inc. (IZEA)

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0.8751-0.0328 (-3.61%)
At close: 4:00PM EST

0.8900 +0.01 (1.70%)
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Neutralpattern detected
Previous Close0.9079
Open0.8960
Bid0.8754 x 1300
Ask0.8889 x 3000
Day's Range0.8692 - 0.9079
52 Week Range0.0700 - 3.1300
Volume931,457
Avg. Volume2,147,980
Market Cap42.407M
Beta (5Y Monthly)2.74
PE Ratio (TTM)N/A
EPS (TTM)-0.3040
Earnings DateNov 12, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est0.75
  • Benzinga

    Insider Buys IZEA Worldwide Shares

    A Form 4 filing filed with the SEC on Thursday, November 19 showed that President and Murphy Edward H bought 5,000 shares of IZEA Worldwide Inc (NASDAQ:IZEA) at an average price of $0.75. The transaction moved the executive's stake in IZEA Worldwide Inc. to 457,811 shares. Shares of IZEA Worldwide fell by 0.5% from the previous closing price.The Importance of Insider Transactions While transactions from an insider shouldn't be used as the sole item to make an investment or trading decision, an insider buying or selling stock in their company can be a good added factor that leads to more conviction in a decision.Insiders buying stock after a notable sell off can indicate an insider's long-term belief in the success of the company; insiders buying stock at new highs can be an indication the exec doesn't feel the stock is overvalued. Insiders who sell stock at new lows could be anticipating some capitulation moment. If the insider sells at new highs, it could point to the intention to "take some profit" and "lock in a gain."Important Transaction Codes Wall Street tends to focus on insider transactions which take place in the open market, viewed inside a Form 4 filing via codes P for purchase and S for sale. If the transaction was an open-market transaction, that means that the insider made a concious decision for the company's stock moving forward.Transaction codes other than P or S are often viewed with less conviction as they are often not tied to a decision by the exec. As an example, transaction code C indicates the conversion of an option. Transaction code A indicates the insider may have been forced to sell shares in order to receive compensation the exec was promised upon being hired by a company. See more from Benzinga * Click here for options trades from Benzinga * Benzinga's Top Upgrades, Downgrades For November 13, 2020 * 12 Communication Services Stocks Moving In Thursday's After-Market Session(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Shake® : The Creator Marketplace® - Opens for Business
    GlobeNewswire

    Shake® : The Creator Marketplace® - Opens for Business

    Orlando, Florida, Nov. 12, 2020 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA), the premier provider of influencer marketing technology, data, and services for the world’s leading brands, today announced that transactions have been enabled for all registered Shake users. Buyers are now able to purchase digital services from sellers who are social media influencers, photographers, writers, musicians, and more. Creators are able to list available “Shakes” on their accounts in the platform and transact with interested buyers. “We are thrilled to open the Shake marketplace for all buyers and sellers,” commented IZEA Founder, Chairman, and CEO Ted Murphy. “The launch of this platform underscores our commitment to developing technology that generates more opportunities for creators to collaborate with buyers and earn a living developing digital content. Shake will dramatically expand our buyer universe beyond the enterprise customers we serve today, opening the door for brands and agencies of all types and sizes to become part of the IZEA ecosystem. This is day one for Shake and the beginning of a much broader transformation for our company that will continue to unfold over the coming years.”The Shake platform is aimed at digital creatives seeking freelance “gig” work. According to the Bureau of Labor Statistics, there are 1.6 million “gig economy” workers in the United States alone. Business Insider Intelligence data from December 2019 predicts that the influencer marketing industry as a whole is projected to reach $15 billion by 2022.Key Information About Shake:Creators First™ Pricing IZEA’s standard transaction fee is 15% of the sale price, while competitor Fiverr has a combined take rate of 27% between buyer and seller fees. A minimal floor of $50 per listing vs. $5 on competing platforms is designed to ensure fair compensation for creators. The current average listing price is $1,642.Curated Listings and Categories Shake is focused on high quality digital services that are commonly offered by advertising agencies, media companies, and talent agencies. Listings are reviewed and curated in an effort to provide buyers with the best possible experience.Individual and Commercial Content Licenses Digital services can be offered as either personal or full commercial licenses, allowing creators to sell personalized video messages or even video conferences directly to their fan base.Public Marketplace In comparison to IZEA’s current platform which offers large enterprise customers access to IZEA’s private network of influencers and content creators, Shake is public. There is no subscription needed to see the creators who are interested in working directly with buyers.Universal Accounts and Finances IZEAx and Shake share a common user authentication service and financial backend, among other IZEAx technologies. Enterprise IZEAx customers can make purchases through Shake with their existing accounts and funds. Creators will also be able to use their funds earned in either IZEAx or Shake to hire other creators in the platform.IZEA kicked off its broadest marketing effort ever today, starting with a social media influencer campaign powered by IZEA’s influencer marketing platform, IZEAx Unity Suite. Shake will also be promoted through a variety of paid media channels including Facebook, Instagram, TikTok, search, and display. Ads will feature select Shake listings and directly promote opportunities to collaborate with Shake creators.Influencer Marketing Diversity Mandate In tandem with the launch of the Shake campaign, IZEA has mandated that no less than 40% of the influencer sponsorships and paid promotions of Shakes are allocated to further promote diversity efforts by allocating marketing spend to non-white creators and those who are members of the LGBTQ community.To become a buyer or seller in Shake visit shake.izea.comAbout IZEA Worldwide, Inc. IZEA Worldwide, Inc. (“IZEA”) is a marketing technology company providing software and professional services that enable brands to collaborate and transact with the full spectrum of today’s top social influencers and content creators. The company serves as a champion for the growing Creator Economy, enabling individuals to monetize their content, creativity, and influence. IZEA launched the industry’s first-ever influencer marketing platform in 2006 and has since facilitated nearly 4 million transactions between online buyers and sellers. Leading brands and agencies partner with IZEA to increase digital engagement, diversify brand voice, scale content production, and drive measurable return on investment.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, plans to increase the size of our sales team, 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 IZEA’s 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. CONTACT: Martin Smith IZEA Worldwide, Inc. Phone: 407-674-6911 Email: ir@izea.com

  • GlobeNewswire

    IZEA Reports Q3 2020 Financial Results

    ORLANDO, Fla., Nov. 12, 2020 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA), the premier provider of influencer marketing technology, data, and services for the world’s leading brands, reported its financial and operational results for the third quarter ended September 30, 2020. Q3 2020 Financial Summary Compared to Q3 2019 * Total revenue down 9% to $4.0 million, compared to $4.4 million. * Managed Services unit revenue decreased 1% to $3.5 million, compared to $3.6 million. * SaaS Services unit revenue decreased 39% to $522,000, compared to $853,000. * Total costs and expenses decreased to $5.3 million, compared to $5.6 million. * Net loss was $1.3 million, compared to a net loss of $1.2 million. * Adjusted EBITDA* improved to $(0.7) million, compared to $(1.3) million.Q3 2020 Operational Highlights * Raised gross proceeds of $10.3 million from sale of securities through an at-the-market offering. In total, we have raised $25.7 million at an average price of $1.94 per share. * Opened pre-registration for the Shake Marketplace. * Announced launch of BrandGraph Pulse with Slack and Microsoft Teams Integration. * Formed Influence+United and onboarded multiple global influencer marketing partners.* Adjusted EBITDA is a non-GAAP financial measure. Refer to the definition and reconciliation of this measure under “Use of Key Metrics and Non-GAAP Financial Measures”.Management Commentary“While revenue was down year over year in Q3, we saw a material improvement in both revenue and Adjusted EBITDA quarter over quarter. Revenue increased 29% and Adjusted EBITDA improved 43% compared to the second quarter ended in June 2020,” said Ted Murphy, IZEA’s Chairman and CEO. “Managed Services revenue in Q3 was close to flat year over year, despite the large gaps in new business we saw in March and April and the ongoing challenges associated with COVID-19 and the political environment. There was no way for IZEA to completely avoid the impacts that COVID-19 has had on the marketing budgets of some of our existing clients, but I believe our team has done a fantastic job adjusting our sales approach and finding new opportunities to bridge the gap.”“There was a bigger impact in our SaaS Services unit, as we expected,” continued Murphy. “We were already in the midst of a change in pricing model for enterprise customers from last year which would impact 2020 revenue even without the events that have unfolded since the pandemic was declared. The acquisition of new enterprise customers has been slow since March, and many of our existing customers have reduced their marketplace spend. We expect to see challenges with enterprise SaaS until such time that the macro environment stabilizes, and marketers feel more comfort in making long term commitments.”“Despite the decreases in overall SaaS revenue, our count of active SaaS customers is growing and hit an all-time high again this quarter,” said Murphy. “We continue to see growth with IZEAx Discovery, our $149/mo self-service offering. New customer signups for IZEAx Discovery hit an all-time high in October and were up 2.6x from October of last year. Monthly revenue for IZEAx Discovery also hit an all-time high in October and was up more than 25% from September of this year, which was the previous record. We are beginning to invest much more aggressively in our marketing efforts to broaden our customer base and drive more of this self-service growth. Early indications are that our marketing efforts are working, and we believe there are ongoing performance optimizations to make each dollar we spend more effective as we gather more data.”“IZEA ended the quarter with $30.6 million in cash, the strongest our balance sheet has ever been,” said Murphy. “Our team has been working to prudently make strategic investments in technology, marketing, and people to best position ourselves for 2021 and beyond. Our primary focus for the year ahead is returning to revenue growth by broadening our customer base with emphasis on self-service revenue streams.”Q3 2020 Financial ResultsTotal revenue in the third quarter of 2020 was down 9% to $4.0 million, compared to $4.4 million in the third quarter of 2019, with revenue from Managed Services decreasing by $44,000 or 1% to $3.5 million in the third quarter of 2020 compared to the third quarter of 2019 and revenue from SaaS Services decreasing by $331,000 or 39% in the third quarter of 2020 compared to the third quarter of 2019.Revenue from Managed Services decreased slightly due to marketers canceling or pausing planned advertising campaigns or events in March and throughout the third quarter of 2020 as a result of uncertainty or inability to offer their products for sale as a result of business or event shutdowns due to COVID-19. Despite the delay in the execution of existing orders from our customers, we experienced a slight increase in net sales orders in the third quarter of 2020 compared to the second quarter of 2020, as marketers who were still advertising shifted more of their spend to influencer marketing campaigns.Revenue from SaaS Services decreased primarily as a result of lower marketplace spend levels (“gross billings,” a key metric as further defined below) from our SaaS marketers and, as a result of competitive pricing efforts, our margins on those spends were reduced. Our gross billings for SaaS Services decreased 35% to $2.0 million in Q3 2020, compared to $3.1 million in Q3 2019. Our SaaS marketers decreased their spend levels as they transitioned from the TapInfluence platform to IZEAx and curtailed spending in March 2020 and throughout Q3 2020. The reduction in these gross billings resulted in the $331,000 decrease in SaaS Services Revenue in the third quarter of 2020 compared to the third quarter of 2019.Total costs and expenses decreased 5% in the third quarter of 2020 to $5.3 million compared to $5.6 million in the corresponding quarter of 2019. This decrease was due to a $203,000 reduction in cost of revenue as a result of the lower sales, a $61,000 reduction in amortization costs as assets were fully amortized in the quarter, and cost reduction efforts affecting personnel, software subscriptions, hosting costs, rent, travel and marketing expenditures. The improvement between periods is more than $1 million after removing the effect of a $794,000 gain on the final settlement of our acquisition cost liabilities recorded in the prior year quarter. The gain resulted due to the actual closing market price of our common stock on the date of settlement being lower than the 30-day volume weighted average price used to calculate the number of shares used to pay for the acquisition liability pursuant to the terms of the purchase agreements.Net loss in the third quarter of 2020 was $1.3 million or $(0.03) per share, as compared to a net loss of $1.2 million or $(0.04) per share in the third quarter of 2019, based on 45.8 million and 32.4 million shares outstanding, respectively.Adjusted EBITDA (a non-GAAP measure management uses as a proxy for operating cash flow, as defined below) improved 42% or $531,000 to $(0.7) million compared to $(1.3) million in the third quarter of 2020 and 2019, respectively. Adjusted EBITDA as a percentage of revenue in the third quarter of 2020 was negative eighteen percent (18)% compared to negative twenty-eight percent (28)% in the third quarter of 2019. Despite the decline in revenue, we were able to improve Adjusted EBITDA through the steps taken to curb spending during these months of uncertainty.We raised $10.3 million from sale of securities through our at-the-market offering (the “ATM”) in Q3 2020. To date, we have raised total gross proceeds through the ATM of $25.7 million between June and August 2020. Our cash balance as of September 30, 2020 was $30.6 million.Conference CallIZEA will hold a conference call to discuss its third quarter 2020 results on Thursday, November 12th at 5:00 p.m. Eastern time. Management will host the call, followed by a question and answer period.Date: Thursday, November 12, 2020 Time: 5:00 p.m. Eastern time Toll-free dial-in number: 1-855-327-6837 International dial-in number: 1-631-891-4304The conference call will be webcast live and available for replay via the investors section of our website at https://izea.com/. Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. A replay of the call will be available after 8:00 p.m. Eastern time on the same day through November 19, 2020.Toll-free replay number: 1-844-512-2921 International replay number: 1-412-317-6671 Replay ID: 10011744About 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 identify social trends and 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/.Use of Key Metrics and Non-GAAP Financial Measures We define gross billings, a key metric, as the total dollar value of the amounts earned from our customers for the services we performed, or the amounts billed to our customers for their self-service purchase of goods and services on our platforms. Gross billings for Legacy Workflow and Marketplace Spend (which are included in SaaS Services) differs from revenue for these services reported in our consolidated statements of operations. These services are presented net of the amounts we pay to the third-party creators providing the content or sponsorship services. Gross billings for all other revenue types equal the revenue reported in our consolidated statements of operations.We consider this metric to be an important indicator of our performance as it measures the total dollar volume of transactions generated through our marketplaces. Tracking gross billings allows us to evaluate our transaction totals on an equal basis in order for us to see our contribution margins by revenue stream so that we can better understand where we should be allocating our resources.  Additionally, because we invoice our customers on a gross basis based on our services or their transactions plus a fee, tracking gross billings is critical as it pertains to our credit risk and cash flow."Adjusted EBITDA" is a non-GAAP financial measure under the rules of the Securities and Exchange Commission. EBITDA is commonly defined as "earnings before interest, taxes, depreciation and amortization." IZEA defines “Adjusted EBITDA,” also a non-GAAP financial measure, as earnings or loss before interest, taxes, depreciation and amortization, non-cash stock related compensation, gain or loss on asset disposals or impairment, changes in acquisition cost estimates, and certain other unusual or non-cash income and expense items such as gains or losses on settlement of liabilities and exchanges, and changes in the fair value of derivatives, if applicable. We believe that Adjusted EBITDA provides useful information to investors as it excludes transactions not related to our core cash-generating operating business activities, and it provides consistency to facilitate period-to-period comparisons. We believe that excluding these transactions allows investors to meaningfully trend and analyze the performance of our core cash-generating operations.All companies do not calculate gross billings and Adjusted EBITDA in the same manner. These metrics as presented by IZEA may not be comparable to those presented by other companies. Moreover, these metrics have limitations as analytical tools, and you should not consider them in isolation or as a substitute for an analysis of our results of operations as reported under GAAP. A reconciliation of GAAP to non-GAAP results is included in the financial tables included in this press release.Safe Harbor Statement All statements in this release that are not based on historical fact are “forward-looking statements” intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. 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 “may,” “will,” “would,” “could,” “should,” “expects,” “anticipates,” “estimates,” “believes,” “intends,” “likely,” “projects,” “plans,” “pursue," “strategy” or “future,” or the negative of these words or other words or expressions of similar meaning. Examples of forward-looking statements include, among others, statements we make regarding expectations regarding future results and the realization of revenue from bookings, expectations with respect to operational efficiency, and expectations concerning IZEA’s business strategy. 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: our ability to raise additional funding needed to fund our business operation in the future, uncertainty relating to the effects of COVID-19, competitive conditions in the content and social sponsorship segment in which IZEA operates; failure to popularize the IZEAx marketplace platform; our ability to satisfy the requirements for continued listing of our common stock on the Nasdaq Capital Market; changing economic conditions that are less favorable than expected; and other risks and uncertainties described in IZEA’s periodic reports filed with the Securities and Exchange Commission. The forward-looking statements made in this release speak only as of the date of this release, and 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.Press Contact Martin Smith IZEA Worldwide, Inc. Phone: 407-674-6911 Email: ir@izea.com  IZEA Worldwide, Inc. Unaudited Consolidated Balance Sheets    September 30, 2020 December 31, 2019 Assets    Current assets:    Cash and cash equivalents$30,617,921  $5,884,629  Accounts receivable, net3,981,132  5,596,719  Prepaid expenses385,128  400,181  Other current assets140,291  153,031  Total current assets35,124,472  12,034,560       Property and equipment, net260,994  309,780  Goodwill4,016,722  8,316,722  Intangible assets, net768,879  1,611,516  Software development costs, net1,480,288  1,519,980  Security deposits—  151,803  Total assets$41,651,355  $23,944,361       Liabilities and Stockholders’ Equity    Current liabilities:    Accounts payable$1,333,281  $2,252,536  Accrued expenses1,267,553  1,377,556  Contract liabilities7,028,687  6,466,766  Current portion of notes payable1,157,103  —  Right-of-use liability—  83,807  Total current liabilities10,786,624  10,180,665       Finance obligation, less current portion65,604  45,673  Notes payable, less current portion778,092  —  Total liabilities11,630,320  10,226,338       Commitments and Contingencies—  —       Stockholders’ equity:    Preferred stock; $.0001 par value; 10,000,000 shares authorized; no shares issued and outstanding—  —  Common stock; $.0001 par value; 200,000,000 shares authorized; 48,331,379 and 34,634,172, respectively, issued and outstanding4,833  3,464  Additional paid-in capital99,610,374  74,099,328  Accumulated deficit(69,594,172) (60,384,769) Total stockholders’ equity30,021,035  13,718,023       Total liabilities and stockholders’ equity$41,651,355  $23,944,361    IZEA Worldwide, Inc. Unaudited Consolidated Statements of Operations    Three Months Ended September 30, Nine Months Ended September 30,  2020 2019 2020 2019 Revenue$4,036,120  $4,411,086  $11,934,827  $13,128,706           Costs and expenses:        Cost of revenue (exclusive of amortization)1,701,770  1,904,287  5,256,536  5,821,237  Sales and marketing1,403,037  1,518,165  4,154,871  4,238,074  General and administrative1,827,267  1,752,126  6,165,597  6,596,485  Impairment of goodwill—  —  4,300,000  —  Depreciation and amortization372,483  433,094  1,250,859  1,317,423  Total costs and expenses5,304,557  5,607,672  21,127,863  17,973,219           Loss from operations(1,268,437) (1,196,586) (9,193,036) (4,844,513)          Other income (expense):        Interest expense(16,448) (27,734) (42,542) (242,935) Other income, net30,085  51,285  26,175  91,447  Total other income (expense), net13,637  23,551  (16,367) (151,488)          Net loss$(1,254,800) $(1,173,035) $(9,209,403) $(4,996,001)          Weighted average common shares outstanding – basic and diluted45,772,638  32,421,043  38,879,218  22,506,929  Basic and diluted loss per common share$(0.03) $(0.04) $(0.24) $(0.22)                  Revenue Details: Three Months Ended September 30,Nine Months Ended September 30,  2020 2019 2020 2019 Managed Services Revenue$3,513,806  $3,558,109  $10,129,210  $10,416,912           Legacy Workflow Fees—  44,170  —  135,791  Marketplace Spend Fees120,630  266,037  482,817  955,328  License Fees358,879  505,634  1,184,423  1,545,222  Other Fees42,805  37,136  138,377  75,453  SaaS Services Revenue522,314  852,977  1,805,617  2,711,794           Total Revenue$4,036,120  $4,411,086  $11,934,827  $13,128,706    IZEA Worldwide, Inc. Reconciliation of GAAP Net loss to Non-GAAP Adjusted EBITDA (Unaudited)    Three Months Ended September 30,  Nine Months Ended September 30,  2020  2019  2020  2019 Net loss$(1,254,800) $(1,173,035) $(9,209,403) $(4,996,001) Non-cash stock-based compensation 108,568   179,866   356,846   498,071  Non-cash stock issued for payment of services 31,250   37,509   93,749   112,504  Gain on settlement of acquisition costs payable —   (793,849)  —   (602,410) Increase in value of acquisition costs payable —   889   —   6,222  Interest expense 16,448   27,734   42,542   242,935  Depreciation and amortization 372,483   433,094   1,250,859   1,317,423  Impairment of goodwill —   —   4,300,000   —  Other non-cash items 1,283   31,998   (22,423)  23,903  Adjusted EBITDA$(724,768) $(1,255,794) $(3,187,830) $(3,397,353)                  Revenue$4,036,120  $4,411,086  $11,934,827  $13,128,706  Adjusted EBITDA as a % of Revenue (18)%  (28)%  (27)%  (26)%   IZEA Worldwide, Inc. Gross Billings (Unaudited)   Gross billings by revenue type:  Three Months Ended September 30,Nine Months Ended September 30,  2020 2019 2020 2019 Managed Services Gross Billings$3,513,806  $3,558,109  $10,129,210  $10,416,912           Legacy Workflow Fees—  609,375  —  1,871,056  Marketplace Spend Fees1,605,729  1,942,995  4,702,383  7,199,141  License Fees358,879  505,634  1,184,423  1,545,222  Other Fees42,805  37,136  138,377  75,453  SaaS Services Gross Billings2,007,413  3,095,140  6,025,183  10,690,872           Total Gross Billings$5,521,219  $6,653,249  $16,154,393  $21,107,784