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IZEA Q4 2024 Earnings Report
IZEA reported a significant increase in Q4 2024 revenue and Managed Services bookings, alongside strategic cost reductions and new business wins, despite an overall net loss.
Key Takeaways
IZEA Worldwide, Inc. reported a 23.7% increase in total revenue to $11.0 million for Q4 2024, compared to $8.9 million in Q4 2023. Managed Services bookings saw a substantial 52.8% increase to $11.7 million. The company's net loss for the quarter was $4.6 million, including $2.7 million in one-time charges.
Total revenue for Q4 2024 increased by 23.7% to $11.0 million.
Managed Services bookings surged by 52.8% to $11.7 million in Q4 2024.
The company reported a net loss of $4.6 million for Q4 2024, which included $2.7 million in one-time charges.
Strategic workforce reductions are expected to save $5.1 million annually in full-time and contract labor costs.
Revenue by Segment
Forward Guidance
The company is focused on accelerating its path to profitability through strategic changes to its cost structure, go-to-market model, and technologies. They anticipate continued growth in Managed Services and aim to enhance talent programs.
Positive Outlook
- Targeted workforce reductions are expected to yield $5.1 million in annual cost savings.
- Divestiture of Hoozu investment is expected to improve cash flow by eliminating a cash-negative operation.
- New business wins from significant clients like Academy Sports, NHTSA, and Navy Federal Credit Union indicate strong market demand.
- Successful project execution for major clients like Warner Bros.' Superman film, Vital Proteins, and Danone, surpassing performance goals.
- Recruitment of a Chief Talent Officer to strengthen talent programs for attracting, retaining, and developing top talent.
Challenges Ahead
- The company reported a net loss of $4.6 million for the quarter, including $2.7 million in one-time charges.
- Adjusted EBITDA remained negative at $(1.5) million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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