IZEA Worldwide, Inc. (NASDAQ:IZEA) Q1 2024 Earnings Conference Call May 15, 2024 5:00 PM ET

Company Participants

Ryan Schram - President & Chief Operating Officer
Peter Biere - Chief Financial Officer
Ted Murphy - Founder, Chairman & Chief Executive Officer

Operator

Good day, ladies and gentlemen, and welcome to IZEA Worldwide. Inc.'s First Quarter 2024 Earnings Call. At this time, all participants are in listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note, this conference is being recorded.

I would now turn the conference over to President and Chief Operating Officer, Ryan Schram. You may go ahead, sir.

Ryan Schram

Good afternoon, everyone, and welcome to IZEA's earnings call covering the first quarter of 2024. 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 here with us today.

Earlier this afternoon, the company issued a press release detailing IZEA's performance during Q1 2024. If you would like to review those details, all of our investor information can be found online on IZEA's 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 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 and in our publicly available filings.

And with that, I'd now like to introduce and turn the call over to IZEA's Chief Financial Officer, Peter Biere. Peter?

Peter Biere

Thank you, Ryan, and good afternoon, everyone.

I'll review operating results for the quarter ended March 31, 2024 compared to the prior-year's quarter and discuss certain balance sheet highlights.

We saw strong demand for Managed Services during the first quarter of 2024, resulting in a 53% lift in bookings over the prior-year quarter and the highest total in seven quarters. This demand will begin to show in revenues over the next several quarters and we believe bodes well for our growth resurgence.