IZEA Worldwide Inc.
03/27/2025 | Press release | Archived content
Earnings Press Release (Period Ending December 31, 2024)
ORLANDO, Fla. (March 27, 2025) - IZEA Worldwide, Inc. (NASDAQ: IZEA), a leading influencer marketing company that makes Creator Economy solutions for marketers, reported its financial and operational results for the fourth quarter and year ended December 31, 2024.
Q4 2024 Financial Summary Compared to Q4 2023
Total revenue increased 23.7% to $11.0 million, compared to $8.9 million
Managed Services bookings increased 52.8% to $11.7 million, compared to $7.6 million
Managed Services revenue increased 24.0% to $10.9 million, compared to $8.8 million
Total costs and expenses increased 28.0% to $14.2 million, compared to $11.1 million
Net loss was $4.6 million, including $2.7 million of one-time charges, compared to a net loss of $1.5 million
Adjusted EBITDA* for the quarter was $(1.5) million, compared to $(1.1) million
Cash, cash equivalents, and investments as of December 31, 2024 totaled $51.1 million
Q4 2024 Highlights
Targeted workforce reductions save $5.1 million in full-time and contract labor annually
Divestiture of Hoozu investment; $3.4 million in 2024 revenue, $0.7 million annual net loss, cash negative
Won new business from Academy Sports, NHTSA, and Navy Federal Credit Union
Produced new work for Warner Bros.' Superman film, Vital Proteins, and Danone, surpassing performance goals
Recruited Kerry Griffin, Chief Talent Officer, to enhance talent programs to attract, retain and develop top talent
FY 2024 Financial Summary Compared to FY 2023
Total revenue was $35.9 million, compared to $36.2 million
Net loss was $18.9 million, including $8 million in one-time charges, compared to a net loss of $7.4 million
Adjusted EBITDA* was $(8.6) million, compared to $(5.5) million
* 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
"We saw another healthy increase in Managed Services bookings and revenue in Q4," commented Patrick Venetucci, CEO. "A transformational change is happening at IZEA. We took swift action in Q4 to fortify, simplify and focus our operations. The changes that we made to our cost structure, go-to-market model and technologies are accelerating our path to profitability."
Q4 2024 Financial Results
Total revenue in the fourth quarter of 2024 increased 23.7% to $11.0 million, compared to $8.9 million in the fourth quarter of 2023. Revenue from Managed Services increased by 24.0% to $10.9 million in the fourth quarter of 2024. Revenue from SaaS Services increased by 5.7% to $117,423 in the fourth quarter of 2024 compared to the fourth quarter of 2023.
Cost of revenue increased to $6.8 million in the fourth quarter of 2024, or 62.2% of revenue, compared to $4.7 million, or 53.1%, in the prior-year quarter. The nominal cost increase is due to higher revenues in the recent quarter, while the percentage cost increase was driven by lower average margins from our ongoing customer base.
Costs and expenses other than the cost of revenue totaled $7.3 million for the fourth quarter of 2024, $1.0 million or 15.3% above the prior-year quarter. Sales and marketing costs were $3.0 million during the fourth quarter of 2024, $0.4 million or 14.2% higher than the prior-year quarter. This increase was primarily driven by higher compensation costs and increased spending on general contractors, partially offset by lower advertising expenses. General and administrative costs totaled $3.7 million during the quarter, remaining nearly flat with a $0.1 million, or 3.8%, increase compared to the prior-year quarter. Severance and contract cancellation costs of $1.3 million reflected in total costs and expenses is related to our targeted workforce reductions, which represent approximately $5.1 million in annualized cost savings.
Net loss in the fourth quarter of 2024 was $4.6 million, or $(0.27) per share, as compared to a net loss of $1.5 million, or $(0.09) per share in the fourth quarter of 2023, based on 17.0 million and 16.4 million average shares outstanding, respectively.
Adjusted EBITDA (as defined below, a non-GAAP measure management uses as a proxy for operating cash flow) totaled $(1.5) million in the fourth quarter of 2024, compared with $(1.1) million in the comparative period. Adjusted EBITDA as a percentage of revenue in the fourth quarter of 2024 was a loss of 13% compared to a loss of 12% in the fourth quarter of 2023.
As of December 31, 2024, our cash, cash equivalents, and investments totaled $51.1 million. The company has no outstanding long-term debt.
We previously announced our commitment to repurchase up to $10.0 million of our stock in the open market, subject to certain restrictions. During the fourth quarter of 2024, we purchased a total of 199,011 shares at an average share price of $2.71 under our program for an aggregate investment of $0.5 million. Through March 25th, 2025, we've purchased 385,947 shares, investing $1.0 million under the program.
Conference Call
IZEA will hold a conference call to discuss its fourth quarter 2024 results on Thursday, March 27, 2025, at 5:00 p.m. EDT. IZEA's CEO Patrick Venetucci and CFO Peter Biere will host the call, followed by a question and answer period.
Date: Thursday, March 27, 2025
Time: 5:00 p.m. EDT
Toll-free dial-in number: 1-877-407-4018
International dial-in number: 1-201-689-8471
Please call the conference telephone number five (5) minutes before the start time. An operator will register your name and organization. A call replay will be made available approximately 3 hours after the conference ends until Thursday, April 3, 2025, at 11:59 p.m. EDT.
Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 13751682
IZEA Worldwide Inc. published this content on March 27, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on August 11, 2026 at 16:50 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]