IZEA - IZEA rockets 33% as revenue beat drives surprise profit

IZEA Worldwide (NASDAQ:IZEA) rose 32.6% after hours Wednesday on heavy volume after its fourth-quarter earnings came in with a surprise profit on revenues that outstripped expectations. Revenues overall rose 62% to a record $10.34 million. That came due to a jump in its core stream of Managed Services revenue of 69%, to $9.9 million. SaaS revenue fell by 17%, to $0.4 million. Combined with costs and expenses that rose just 37%, the company swung to a net gain of $0.3 million from a net loss of $1.1 million in the year-ago period. EBITDA also swung to a gain of $0.5 million from a loss of $0.5 million. Managed Services bookings hit a quarterly record as well, and IZEA hit an all-time record count of customers licensing SaaS products (up 81%). “It has taken several quarters for the leap in bookings we saw early last year to be reflected in revenue

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IZEA rockets 33% as revenue beat drives surprise profit