Izea reports Q3 bookings $7.7M, down 18% y/y
IZEA Worldwide reported total bookings of $7.7M for the third quarter of 2019, an 18% decrease compared to $9.5M in the same quarter of the prior year. SaaS Licensing bookings decreased 79% to $332,000, compared to $1.5M. SaaS Marketplace bookings decreased 43% to $1.6M, compared to $2.8M. The SaaS Licensing and marketplace comparison includes bookings attributed to TapInfluence at the time of the acquisition in Q3 last year. Managed Services bookings increased 12% to $4.9 million, compared to $4.4M. Legacy Workflow bookings decreased 7% to $619,000, compared to $668,000. The company said, "Managed services bookings returned to growth in this quarter, but with an average of 26% less managed services sales personnel compared to Q3 last year. We are seeing a significant increase in average bookings per sales person in managed services which should benefit us as we begin to ramp the size of that team back up. We have made adjustments to our pricing models and offerings to accommodate a broader customer set and use case. Monthly licensing fees for IZEAx hit a new record in Q3, and were up 745% as compared to Q3 2018. However, we continued to see challenges with churn of prior TapInfluence customers and an impact on monthly licensing fees as well as bookings. Overall, the count of customers licensing our platforms hit an all-time high in the quarter. We intend to continue to diversify our customer base through the addition of new features and functionality to address the needs of brands and agencies."