IZEA Worldwide, Inc. Q3 FY2024 earnings call

• On 9/6, management and board changes occurred; Patrick Venetucci became CEO. - Patrick's first 60 days included a listening tour, strategic workshops, and hiring a Chief Talent Officer. - Q3 business accomplishments: won new business from Nestle, Danone, etc.; work on Barbie movie won awards; launched IZZY AI assistant; won awards for company culture. - Focus on go-to-market, top line growth, profitability; 2025 business plan underway.

Total revenue for Q3 2024 was approximately $8.8 million, 12% above prior year quarter. Excluding the large nonrecurring customer, revenues grew 27%. Managed Services demand grew 11% to $7.9 million in Q3 2024, with revenue at $8.6 million, 10% higher than Q3 2023. Excluding the nonrecurring customer, it was up 25%. Managed Services backlog was $14.6 million as of 9/30/2024, a decrease of $1 million from Q2 2024. SaaS Services revenue was $206,000 in Q3 2024, compared to $57,000 in prior year quarter.

• Focused on go-to-market model to drive top line growth. - Aim to put the company on a path to profitability. - 2025 business plan process is underway, with more to be shared at next investor meeting.

• Forward-looking statements involve risks and uncertainties; actual results may differ materially. - Goodwill related to 2019 acquisition of Tapinfluence was impaired, leading to a $4 million noncash charge.

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