IZEA Worldwide Inc (NASDAQ:IZEA) Q4 2022 Earnings Call Transcript March 30, 2023 5:00 PM ET
Company Participants
Ryan Schram - President, COO and Director
Peter Biere - CFO and Treasurer
Ted Murphy - Founder, Chairman and CEO
Conference Call Participants
Jon Hickman - Ladenburg
Operator
Greetings. Welcome to IZEA Worldwide, Inc. Fourth Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded.
I will now turn the conference over to Ryan Schram, President and Chief Operating Officer. Thank you. You may begin.
Ryan Schram
Good afternoon, and thank you for joining us for IZEA's earnings call covering the fourth quarter of 2022. I'm Ryan Schram, President and Chief Operating Officer at IZEA, and joining me on the call are IZEA Chief Financial Officer, Peter Biere; and IZEA's 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 fourth quarter of 2022. If you'd 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 the company's financial results and be advised that some of the statements that we make 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, provide additional context for the fourth quarter of 2022 and highlight our full year performance.
Revenue has hit an all-time record level of $41.1 million in 2022, growing 37% over 2021 and representing the third straight year of top line improvement for IZEA. We narrowed our EBITDA loss in 2022 by 12%, also a consecutive 3-year improvement, moving steadily toward profitability. Total revenue for the fourth quarter of 2022 was $8.8 million, 15% lower compared to the prior year quarter. Managed services revenue was $8.4 million in the fourth quarter, also 15% below the prior year quarter.