Yahoo Finance

• Annual Revenue 2024: $35.9 million, down 1% from $36.2 million in 2023.

• Managed Services Revenue 2024: $35.1 million, down 2% from 2023.

• Managed Services Revenue Growth (Excluding Hoozu and Non-recurring Customer): 16.3% in 2024.

• Net Loss 2024: $18.9 million, increased from $7.4 million in 2023.

• Q4 2024 Revenue: Approximately $11 million, up 23.7% from the prior year quarter.

• Q4 2024 Managed Services Revenue: $10.9 million, up 24% from the prior year quarter.

• Q4 2024 Managed Services Revenue Growth (Excluding Hoozu and Non-recurring Customer): 21.9% over the prior year period.

• Q4 2024 Managed Services Bookings: $11 million, up 45% from $7.6 million in the prior year's fourth quarter.

• Q4 2024 SaaS Services Revenue: $117,000, compared to $111,000 in the prior year quarter.

• Q4 2024 Cost of Revenue: $6.8 million or 62% of revenue, compared to $4.7 million or 53.1% of revenue in the prior year quarter.

• Q4 2024 Expenses (Excluding Cost of Revenue): $7.3 million, up 15.3% from $6.4 million in the prior year quarter.

• Q4 2024 Net Loss: $4.6 million or negative $0.27 per share, compared to a net loss of $1.5 million or negative $0.09 per share in Q4 2023.

• Q4 2024 Adjusted EBITDA: Negative $1.5 million, compared to negative $1.1 million in the prior year quarter.

• Cash and Investments as of December 31, 2024: $51.1 million, a decrease of $3.3 million from the prior year quarter.

• Stock Buyback Program: 385,947 shares purchased at an average share price of $2.60, totaling $1 million investment by March 25, 2025.

• Warning! GuruFocus has detected 4 Warning Signs with IZEA.

Release Date: March 27, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Managed Services revenue grew 16.3% in 2024, excluding divested and non-recurring customer revenues, indicating a healthy core customer base.

• Fourth quarter 2024 revenue increased by 23.7% compared to the prior year, with Managed Services revenue growing 24%.

• The company implemented cost-cutting measures, including workforce reductions and divesting unprofitable ventures, expected to reduce cash burn and improve profitability.

• IZEA Worldwide Inc (NASDAQ:IZEA) has no debt on its balance sheet, providing financial stability and flexibility.

• The company increased its share buyback commitment from $5 million to $10 million, demonstrating confidence in its undervalued shares and future growth potential.

Negative Points

• Total revenue for 2024 declined slightly by 1% compared to 2023, indicating challenges in maintaining overall revenue growth.

• The company reported a net loss of $18.9 million for 2024, an increase from the $7.4 million loss in 2023, driven by strategic actions and one-time charges.

• Fourth quarter 2024 net loss was $4.6 million, compared to a $1.5 million loss in the same quarter of 2023, reflecting increased expenses.

• Total cost of revenue increased to 62% of revenue in Q4 2024, up from 53.1% in the prior year quarter, due to a greater mix of higher cost deliveries.

• Adjusted EBITDA for Q4 2024 was negative $1.5 million, worsening from negative $1.1 million in the prior year quarter, indicating ongoing operational challenges.