The following is a summary of the IZEA Worldwide, Inc. (IZEA) Q2 2024 Earnings Call Transcript:

Financial Performance:

• IZEA's Q2 2024 revenue was approximately $9.1 million, a decline of 14.9% compared to the previous year, impacted by the loss of a large customer.

• Managed Services revenue decreased by 16.6% to $8.9 million due to the previous year's loss of a non-recurring customer.

• Net loss for the quarter was $2.2 million, compared to a net loss of $1 million in Q2 2023.

• Adjusted EBITDA was negative $1.6 million for Q2 2024, worsening from negative $0.6 million in the previous year.

• Cash and investments at the end of the quarter totaled $56.5 million.

Business Progress:

• Managed Services bookings in Q2 2024 rose by 40%, totaling $10.3 million.

• Significant expansion in the SaaS Services, with revenue tripling compared to the previous year.

• Acquisition of 26 Talent and The Reiman Agency to diversify revenue and strengthen the client portfolio.

• The company is transitioning towards revenue growth, expected from Q3 2024 onwards.

Opportunities:

• IZEA's Managed Services business has a strong and growing booking backlog, creating potential for future revenue growth.

• Expansion into new markets and the acquisition strategy could further diversify the revenue streams and enhance client portfolio.

Risks:

• Continued revenue shortfall from the loss of a large customer impacts profitability.

• Inflation and other rising operational costs could affect profit margins.

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