IZEA - NASDAQ

Good afternoon everyone and welcome to I

Thank you, Ryan and good afternoon everyone. I'll review operating results for the quarter ended June 30, 2024 compared to the prior year's quarter and discuss certain balance sheet highlights. We saw a strong demand from Managed Services during the second quarter of 2024, resulting in a 40% lift in bookings over the prior year quarter and the highest total in eight quarters. This demand is expected to be reflected in revenues over the coming quarters and we believe it indicates a strong potential for our growth. Managed Services bookings for the second quarter of 2024 totaled $10.3 million compared to $7.3 million in the prior year's quarter, a 40.3% increase. The increase was largely attributable to a robust sales pipeline that has continued to develop over the past several quarters. As a reminder, I

Thanks Peter and good afternoon everyone. I'm excited to share the progress we've made in the second quarter of 2024 and to highlight the strides we're making in both our Managed Services and technology enablement initiatives. I

Thank you, Ryan. We are operating against our three-year plan to reach $76 million in annual revenue by 2026. In addition to revenue, achieving sustainable profitability in this time frame is absolutely key for management and the Board and we know it is important to our investors. Our intent is to deliver a meaningful EBITDA improvement in 2025 and begin to show EBITDA-positive quarters in the back half of 2026. 2024 is a transition year for us. We continue to experience lower revenue comparisons after parting ways with a large customer last year, but this is now over. We expect to begin seeing year-over-year revenue growth in the third quarter. The loss in revenue has been hurting our profitability as well, but we're progressing nicely forward as we fill the revenue gap with more profitable customers. The bookings growth we've seen this year is beginning to show in higher revenues. We have also been taking measures to reduce some human capital resources and other expenses where appropriate. In Q2, we made a slew of technology announcements ranging from our AI influencer marketing assistant, I