IZEA Worldwide, Inc. (NASDAQ:IZEA) Q1 2023 Earnings Conference Call May 15, 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
Jon Hickman - Ladenburg
Operator
Greetings, and welcome to the IZEA Worldwide First Quarter 2023 Earnings Conference 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. Please go ahead.
Ryan Schram
Good afternoon, everyone, and thank you for joining us for IZEA's earnings call covering the first 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. We're glad to have you with us today.
Earlier this afternoon, the company issued a press release detailing our performance for the first quarter of 2023. If you like to review those details, all of our investor information can be found online on our Investor Relations site at izea.com/investors.
Before we begin, please take note of the Safe Harbor paragraph included in today's press release covering the company'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 March 31, 2023, compared to the prior year's quarter, and I'll breakdown results for our Managed Services and SaaS license businesses, and then provide some balance sheet highlights.
Total revenue for the first quarter of 2023 was $8.7 million, 1.7% or $153,000 lower than the prior-year quarter. Our net cash loss, or EBITDA, was $2.2 million for the quarter, 3% below the prior-year quarter. Our net loss in the current quarter totaled $2.8 million or $0.04 per share on 62.4 million shares compared to a loss of $2.5 million or $0.04 per share on 62.1 million.