IZEA Worldwide, Inc. (NASDAQ: IZEA) zoomed after signing a brand-direct relationship with a top 50 U.S. retailer. IZEA expects Q3 bookings above $9.5 million and net revenue of $5.0 million to $5.25 million.
Total bookings is a measure of all sales orders, plus total platform spend by self-service customers, minus any cancellations or refunds. Management uses bookings as an indicator of total sales activity.
The Orlando-based company says that, after the successful completion of a pilot program, the retailer is now licensing the company’s technology to manage its influencer marketing initiatives.
"We are very excited by the progress that our SaaS business development team is making. We continue to build our relationships with both brands and agencies which license IZEA technologies to discover, organize, and transact with social media influencers," commented CEO Ted Murphy.
"With the recent acquisition of TapInfluence and signing of new IZEAx customers, both monthly SaaS license fees and marketplace spend have increased significantly. Gross marketplace billings generated from customers using our influencer marketing platforms in a self-serve capacity have increased from approximately $45k in all of Q2 2018, to $1.5 million in August alone."
IZEA operates online platforms that connect marketers with content creators. IZEA platforms automates influencer marketing and custom content development, allowing brands and agencies to scale their marketing programs. IZEA influencers include everyday creators as well as celebrities and accredited journalists.
Shares in the company opened trading Tuesday up 45 cents, or 29.8%, to $1.96.
