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Sep 30, 2020
IZEA Q3 2020 Earnings Report
IZEA's financial results for Q3 2020 were reported, showing a revenue decrease but improvement in Adjusted EBITDA compared to both Q3 2019 and Q2 2020.
Key Takeaways
IZEA Worldwide, Inc. reported a 9% decrease in total revenue to $4.0 million compared to Q3 2019. However, the company saw improvements in both revenue and Adjusted EBITDA compared to the second quarter of 2020. The company ended the quarter with a strong cash balance of $30.6 million.
Total revenue decreased by 9% year-over-year to $4.0 million.
Managed Services revenue decreased slightly by 1% to $3.5 million.
SaaS Services revenue decreased significantly by 39% to $522,000.
Net loss was $1.3 million, compared to a net loss of $1.2 million in Q3 2019.
IZEA
IZEA
IZEA Revenue by Segment
Revenue by Segment
Managed Services Revenue
CapyFin.comSaaS Services Revenue
CapyFin.com Forward Guidance
IZEA is focused on returning to revenue growth by broadening its customer base with emphasis on self-service revenue streams.
Positive Outlook
- Strategic investments in technology
- Strategic investments in marketing
- Strategic investments in people
- Broadening customer base
- Emphasis on self-service revenue streams
Challenges Ahead
- Impacts that COVID-19 has had on the marketing budgets of some existing clients
- Challenges associated with the political environment
- Acquisition of new enterprise customers has been very slow since March
- Many existing customers have reduced their marketplace spend
- Challenges with enterprise SaaS until the macro environment stabilizes