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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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