IZEA Scores Contracts, Shares Gain

IZEA Worldwide Inc (NASDAQ:IZEA) rose Friday after reporting $1.1 million in contract wins.

The Orlando-based company revealed Friday t has secured a significant managed services contract to promote an international fashion brand.

In addition, the company was awarded its first ever contract to promote a Fortune 100 consumer packaged goods company, as well as a variety of contracts from both SaaS and Managed Services customers. In total, the company secured SaaS Licensing and Managed Services bookings of approximately $1.1 million, within the second full calendar week of August.

Management uses bookings to inform expectations of total sales activity. Subsequent revenue recognition and effective margins vary by revenue stream, and bookings are not always an indicator of revenue for the quarter and could be subject to future adjustment.

"This was a particularly strong week for us and a positive start in August," said Ted Murphy, Founder and CEO of IZEA.

"There has been an extraordinary effort by our sales team to build momentum. We expect to exceed our total managed services bookings for all of Q2 at the close of this month and continue to focus on diversification of our client base."

IZEA Worldwide, Inc. operates IZEAx, the premier online marketplace that connects marketers with content creators.

Shares moved up 5.8 cents, or 15.2%, to 44.3 cents.