IZEA Worldwide, Inc. (NASDAQ:IZEA) Q2 2023 Earnings Conference Call August 14, 2023 5:00 PM ET
Company Participants
Ryan Schram - President and Chief Operating Officer
Peter Biere - Chief Financial Officer
Ted Murphy - Founder, Chairman and Chief Executive Officer
Conference Call Participants
Operator
Greetings, and welcome to the IZEA Worldwide Second Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Ryan Schram, President and Chief Operating Officer. Please go ahead.
Ryan Schram
Good afternoon, everyone, and welcome to IZEA's earnings call covering the second quarter of 2023. I'm Ryan Schram, President and Chief Operating Officer at IZEA. And joining me on the call are IZEA's Chief Financial Officer, Peter Biere; and IZEA Founder, Chairman and Chief Executive Officer, Ted Murphy. Thanks for being with us today.
Earlier this afternoon, the company issued a press release detailing our performance for the second quarter of 2023. If you like to review those details, all of our investor information can be found online on our Investor Relations website at izea.com/investors.
Before we begin, please take note of the Safe Harbor paragraph included in today's press release covering IZEA's financial results and be advised that some of the statements that we made today regarding our business, operations and financial performance may be considered forward looking. And such statements involve a number of risks and uncertainties that could cause actual results to differ materially. We encourage you to consider the disclosures contained in our SEC filings for a detailed discussion of these factors.
Our commentary today will also include the non-GAAP financial measure of adjusted EBITDA. Reconciliations between GAAP and non-GAAP metrics for our reported results can also be found in our earnings release issued earlier today as well as in our publicly available filings.
And with that, I'm pleased to introduce IZEA's Chief Financial Officer, Peter Biere. Peter?
Peter Biere
Thank you, Ryan, and good afternoon, everyone. I'll review our operating results for the quarter ended June 30, 2023, compared to the prior year's quarter and discuss balance sheet highlights. Total revenue for the second quarter of 2023 was $10.7 million, 15% or $1.9 million lower than the prior year quarter. Our net cash loss or EBITDA was negative $637,000 for the quarter compared to a gain of $254,000 for the prior year quarter. Our net loss in the current quarter totaled $1 million or $0.07 per share on 15.5 million shares compared to a loss of $170,000 or $0.01 per share on 15.6 million shares. These share counts are adjusted for our June 2023 four-for-one reverse split.