IZEA - Earnings call transcript Q3 2018

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Operator

Greetings and welcome to the IZEA Inc., Third Quarter 2018 Earnings Call. At this time all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to Ryan Schram, Chief Operating Officer. you. Thank begin. Please

Ryan Schram

Heald; welcome am and And QX earnings Officer, XXXX me Good Murphy. Schram, our Founder, with for performance. third to the Chief issued I Michael Financial quarter Chief us Ryan is Officer, IZEA. IZEA's Operating with call. today release today, being a Earlier afternoon XXXX IZEA's Thanks IZEA's and Officer joining press Chairman afternoon. details Executive and company Chief Ted this pertaining to at

those review be to like all Investor of website can you If information investor details, found Relations IZEA’s our on at izea.com/investors.

begin, are note and statements. financial and today's not to a statements expectations subject trends those call. from assume made These SEC. periodic due forecast discuss inherent reports of events, recently our be our on forward-looking management press please release Before forward-looking most during obligations could And Safe IZEA's we of the any our based team company team's differ with and factors, or update our at earnings Actual upon. risks The call, mentioned number including results to business company’s the that our take filed of results. Harbor appears relied management paragraph course will that martially make unduly covering of that statements team uncertainties in no the be should the to today’s in and end as predictions outlook the are advised of the today

and under directly recent in measure of measures in most In of presented Form non-GAAP A billings izea.com. to Investors section adjusted financial filings reconciliation certain addition, our XX-Q measures, these also discussion gross update most and is comparable the available refer the our specifically SEC EBITDA. to GAAP will today our

quarter disclosures performance Officer, out of I am appropriate third way, the in a Heald, of IZEA's company’s Financial to Michael to Chief introduce summary colleague of the my the and XXXX. With Michael? provide pleased the

Michael Heald

compared million Thank revenue good the accounting $X.X the from quarter $X.X to compared of to of in was campaigns. basis sales third reported along everyone. quarter commitment some XXXX. of total revenue amounts Services QX QX $X.X afternoon, And annual larger fewer Revenue Ryan. IZEA decreased third to Lower in million XX% in Managed typically XXXX XX% an for running XXXX revenue million short-term a XXXX. you, the $X commit million of in and approximately quarter smaller customers smaller in our decrease customers that result on with of from

orders excludes compared customer Bookings XX platforms $X,XXX revenue from platform, which from IZEAx QX XXXX to in not or or increased campaigns, $X.X million development of QX XXXX, XXXX sales licensing of in for and do marketplaces, base. primarily due to Legacy bookings million. Workflow $X.X the built to revenue the license This Gross its complete. in of acquisition QX $X.X $XXX,XXX which $X.X Fee QX TapInfluence accounting in campaigns QX our XX% as Marketplace as result platform from fees in revenue are Cost Revenue not compared million at revenue a of this in but with IZEAx consists QX amounted increased The SaaS quarter Spend started, represent IZEAx of which XXXX. $XX,XXX for the to yet $X.X million through backlog the Fees. to QX resources in million Marketplace TapInfluence XX% from fee Fees of excludes QX in to we revenue in services XX% the end which in percentage in revenue not quarter Ebyline adjustments $X.X backlog from million, approximately $XXX,XXX up and Revenue revenue and invest have revenue unbilled $XXX,XXX yet XXXX lower by and of of XXXX. year. revenues sales XXXX. in was Fee Spend and and a to TapInfluence in of well of Spend that billings for our increase XXXX. XXXX. in have Spend in Cost $XX,XXX quarter been cancellations the Marketplace increased Legacy along Marketplace $X.X less for Fees improved combined offered of were our million Managed is unearned million the into. any SaaS received license QX in XXXX revenue $XXX,XXX revenue Services, as $X.X was times the compared Marketplace Licensing QX Software in in QX total from QX million to Spend through decreased Workflow, XXXX. compared consisted revenue $X.X

consists services and revenue of the who creators, those under contracts. for personnel primarily of obligations to responsible Services the Managed and content sponsorship for cost are internal Our our fulfillment paid our our provide who primarily our direct of costs costs third-party

X% with in Total QX XXXX third to costs for $XXX,XXX the and $XXX,XXX or X% XXXX to an loss to revenue in including XXXX due fulfillment period due QX a reduction for quarter the of of Net in revenue share, fixed legal of XXXX. XX% departmental $X.XX in internal X% have these estimated to in of QX negative fulfillment revenue. percentage an the not third Included compared $XXX,XXX accrual was $XXX,XXX the to do an cost million negative internal to million decreases. XXXX. costs. QX as internal decreased from in this a due for net were expenses revenue that accrual of $X.X and XXXX per expenses XXXX loss of expenses share year-over-year, quarter of or personnel same fluctuate cost our was $XXX,XXX legal the when in percentage compared to non-recurring QX Adjusted larger $X.XX becoming increased to approximately cost $X a QX XXXX $X.X as QX Total a Although XXXX. was revenue our costs our This during costs primarily a cost million, QX largely is positive a prior in $XXX,XXX $XXX,XXX, of EBITDA to lower year. per in XXXX, compared in negative decreased compared

This end equity XX, the $X.X as in the result As $X.X hand the in more stockholders' million we a of September significant QX were XXXX, Net and doubled billings gross receivables at $X.X had from $X.X quarter. XXXX at of QX cash the in million. million. than XXXX, on of million has of of end the increase

hand In million end on QX the credit of includes XXXX Bridge $X.X million cash at with on outstanding Ryan? addition, facility Bank. approximately our $X

Ryan Schram

Michael. Thanks,

had summer. and good now teams we has productive marketing a across third leading And a TapInfluence arguably taken for the in content notice of and reason, IZEA. of of with industry practitioners States the Notably, are Canada roster home quarter. influencer for marketplace Our acquisition United this Thanks team. new largest business the busy on and the to for the our

core cannot. failure. to has a staying is just of It accomplish a complacent and tomorrow's success can breed companies things today's However, continuing system us simply about made other focused part belief IZEA’s

return a which new mentioned opportunity of generation, lead our on began XX% year specific pipeline continued an the of momentum our reaching as As year-over-year. end positive Year-over-year and increase value for positive created during third momentum during $XX our dollar opportunity throughout business. growth the the is earnings new has indicator last important of the period focused to total is declines pipeline call, proposals an at team XXXX, million during quarter presented last

in returning-clients, from wins upcoming company. rank clauses. client due for of form and a XX holiday Fortune brand corporation retailer, also The company a of XXX top quarter based of a manufacturer marketing these sectors investment XXX diverse provider. XX healthcare top third to numerous with from refers and XX presented direct services new a influencer Fortune levels, an industry contracts relationship the Fortune a Fortune by a The customer, saw company name, with including The chain XX instead confidentiality wins relationship and US restaurant program a standard a expansion and category including new brand and automobile financial commitments array

visibility to as detailed an highlight as notable in possible public setting. effort around provide important shareholders in commitments to manner our However, particularly feel we a whilst momentum it’s to in

Another for exclusive Pinterest more with will partner highlight and iOS. marketing marketing to Pinterest web Search, of marketing. QX content well and has IZEA IZEAx, influencers Influencer Pinterest in to including also official IZEA was contents. data Profiles. as now of discover inclusion insights brands are their IZEA Unity profiles Unity add Lists on enable licensors the through as of an made The to the as program IZEAx Pinterest easily Android provides in selection to app their API IZEAx partner’s that to Influencers available and access able the this

TapInfluence We acquisition for IZEA. have capitalized provided the on the catalyst

the to well improved supporting integration year the XXXX research by as conducted aligned Following to concept Right our Consulting, received IZEA we feedback sessions by platforms. innovation space. Brain of but but and independent colossal time points now consistent out from cities industry the of of in essential IZEA’s of and the Economy and combined vantage influencer was articulated the Now. company SaaS become firms and coordinated Consumer combined and the week, schedule marketing research the weeks GMI and All-in-all, with goal proposition customer the set around That and reports spending our value content the This The commissioned continued showcasing Labor we with The by the a efficient both it Last joint strengths. its holiday categories Research marketplaces Creator technology, big of was and executive on the SaaS findings and has managed newly Last the marketers. for the consolidation. and in has creators, showcasing consumers and from timeline an roadmap, influencer clear. announced collaboration continues to and Day as vision thought partnership Xth was marketing of teammates, Lightspeed small, ambitious team in both our it invest newly leadership, base services, impartial enhanced not view study travel success. response of included industry-leading two briefing State around roadshow IZEA least, require with details technology on

consumer-perceived show within general all within marketing One highlights by of marketing both the in reflected remain top of content effectiveness seen study the shows a trend continued of at consumers marketing ranked in Effectiveness influencer perceptual Message of decline full having influencer approaches as the effectiveness marketers also the Both while line. year, marketing gains, time key last messages made or effectiveness than over for approaches more four were line Momentum gains strongest increasing XX marketing, types marketers. messages year downward flat All-in-all amongst messages by traditional the the by year-to-year spectrum points and same and measure. of effectiveness advertising influencer

If would available other learn about an these findings and interesting for izea.com. to from like is this on free download summary more year’s executive you study,

perspective commentary for Officer, the call Executive ahead Ted colleague, I'll Now Murphy. and IZEA's for and my Chairman on quarter some the over on Chief road the additional third turn for IZEA's company, Ted?

Ted Murphy

Thank you, Ryan.

fragmented the We solidifies marketing generated in excited the acquisition and acquisition believe catalyst of of by have the QX. in further company. otherwise provided in the raised momentum highlights operation We space we the the TapInfluence our leadership operating The the a an scale influencer additional in and meaningful position quarter that market. capital our are for

As able streamlining Ryan to quickly We to post realize cost moved the acquisition. mentioned, integrate reductions combined benefit organizations were through diligent of the of operations. have two we a swiftly

transformed that it a millions IZEA was took positive on company year umbrella overall a under team impact and of dollars losing our to Our the EBITDA. have per

leveraging Our core its to task has enhance experience engineering property aspects IZEAx. already team been user intellectual of in

renewed meaningfully to before This interface commitment design marketing leap each a inside quarter. through self-service This marketed means. will brand the will user This addition a is as coincide current IZEAx is this of and The marketing will go refresh a refreshing of identity. into new anticipate become better of of search of with clients forward gorgeous. it standalone to with materials. away IZEA from all This the not marketplace any of our in be set being Services of be new For service newly us new radically version offering We Discovery. introduction work the these this overhaul of izea.com instance, releasing of revenue It this to the our a towards platform, and launch the the and and via work a credit the reported dovetails year-end. a a discovery an tool teams with but much platform, in offer rank scheduled IZEA moving the discovery will to called has brand-new our is done algorithm services and prefer brand-new fantastic does card. sign-up the bigger The discovery We TapInfluence take combined IZEAx and business be software have with complementary by job forward. brand Tap to managed tech-enabled our Managed see mean to continue capacity. offerings line will with other licensing that slipstream

technology That spend most more quarter. an opportunity to those of is the is and brands agencies million see and Billings gross the to licensing within invest their for or in services managed and makes our both is and of billings as Consider spending operations the continue to scale, from influencer out who IZEA believe the half content X.X opportunity for to in this technology management on the efforts. measurement platforms. the marketing our X.X want However, in technology work of gross scaling of greatest we of We possible areas. licensing million that and grow XX% QX to focusing bring customers

to aligning of that next out past core We've that We’re in investing we’ve upgrades support possible best X.X for during growth IZEAx incremental of years our period. strategy the generation been IZEAx. with order in rolled the resources the two is to At significant experience. and provide the and IZEAx, customers internal that

powerful and X.X is X.X. partnership IZEAx most opportunities to created IZEAx have to aspect with yet TapInfluence the even integration The of with of and tech acquisition released. the the Pinterest release innovate be of However, more

we is QX this In creator's. be certain is slew able will release brand-new QX result to in discounted to with of Discovery to XXXX in IZEAx launch content our for request creators PAYPOP of rollout XXXX payment expected Meanwhile, X% begin posting features With posted a feature IZEAx acquisition. their a a plan to expect we of designed for exchange also upon TapInfluence and payout We the developed and XX%. new a the in version days PAYPOP, creators a after ranging verification pay from or received. XX to currently qualified as immediate

slowly immediately will full the additional understand could We receiving exchange over cash and get wait cash be the prior choose a if to a payment that from impact did roll $XXX, XX time. IZEA to a and in to cases example, be usage program For customer plan paid creator $XX for providing post. to order out most margin typical post on patterns In for this days creator in the amount. flow or the paid

by margin are the excited expansion we this opportunities However, presents.

in as opportunity our within is to considerable continue economy. influencer as We industry explore opportunities well space. marketing consolidation broader for creator There growth the

our customers. evaluating in serve better improve is base, and M&A our team opportunities active that management organizations revenue Our could efficiency expand with

and important look have put continue and fuel remains resources development EBITDA have where of EBITDA this may we will successfully to in sales We to was That delivered against towards desire I Growth to that goals: investment Discovery; pursue launch As and on pipeline opportunities; reflected we certain us, becoming the continue initiatives, our be in products focused impact Close QX, marketing we which to balance on we we some said, customers. our remain with believe have we upcoming and incremental TapInfluence key IZEAx of already in quarters. to we on intend then. barring XXXX, positive, in QX. XXXX transactions and the additional positive transition continue EBITDA established; EBITDA now our versus in of and is order opportunity again reduction significant positive marketing new growth. four to between aggressively that the QX We EBITDA will much space. any the pipeline in be momentum our and a remainder deploy of There believe loss

would executing spending us what excited IZEA. to incredibly with like open hold plans Our Thank now for by focused your for afternoon. team XXXX on will Q&A. for I the on is time this I'm and you call our

Operator

[Operator Instructions] you. Thank

line Our proceed. first comes Craig-Hallum Des with Group. Capital question Lauriers from Eric Please

Eric Des Lauriers

that. first on after some then couple, follow-ups A and the acquisition TapInfluence

So going side. integration far, well like it especially the seems the is on cost so pretty

You next a be talk process mentioned could should I you transitioning if to little wondering completed more to clients year. to take about a that why about it was bit complete? year and

Ted Murphy

that -- platforms. to a are definitely want we process sure similar everything in We deliberate function are a differences They and TapInfluence. slow IZEAx two have some they definitely make in accustomed that they function but functions differently. customers we that between making There the process are those to have because

So for their they gathering make are their and that all our those meeting Tap make is it when is than the experience. feedback. of experience from basically customers getting move a IZEAx plus with were we're to they that sure move from they And more significantly right goal now parity that

got to that those to IZEAx We make also people we've out over. prior X.X want sure bringing

Eric Des Lauriers

just service essentially it will the that perhaps able be you necessarily or stay long year the it about managed So them platform that's to think you take right way services, in platform just now? to it’s and until to to guys about offer not is going to from transfer that IZEAx how the to a will how TapInfluence guys of take long

Ted Murphy

some already functions are TapInfluence. customers depends Well. To inside are on starting clear specific the of what be of and what It customers’ kind migration. needs that have who we really using they're

and programs. post execute we’ve and customers some are to on choose those them content our aware already those of making of we’re our with customers number had cross-selling doing services, already making promoted are aware We of we them a

the until move cross-selling seeing we’re within that to make some not going customer’s are satisfied specific we TapInfluence met current are from but IZEAx needs are we that to the platform. already So

Eric Des Lauriers

sense. then the million. have revenues continue that XXXX quarter had wondering have sort one if that it's somewhat climb makes run that rate an us we could going annual And or around should if up explain expect you revenue I of another been was steadily I trend subscription Okay, should help subscription X.X we help and to us Thanks. TapInfluence, X this and something noticed then I suggests to think slowly million so on that forward expect or of that the understand near? decreasing or

Ted Murphy

Yes.

that was a going they at be that look influencer spend thousand of on-board to a would software the of a decent I customers they turned on expect that lot should didn't after on this. through think necessarily When they the platform had like still type workflow several the but made retention sales them, if customers, a majority money Tap I acquisition those say them were because of warrant who able bring the more that that have platform pretty team long-term historically TapInfluence, dollars spending of pretty platform were quickly really of customers out customers that and a would amounts month you customers to weren't qualified were those significant that enterprise have to spending the the in we were those of marketing we customers rate.

selling at new this point. sign look customers we are to we up for As a new TapInfluence IZEAx at can of license sales, nobody only

there. incredibly we’re side, happening IZEAx by the what's On excited

been that churn fantastic. this zero We in up signed we’ve have the feedback customers had and IZEAx has year

about customers, are the power there and really we we've really like that overall. that in users kind TapInfluence feeling of base we’re of are the solid got people a good pretty now feel So

Eric Des Lauriers

running Managed the could out shaking you it’s I clarity I campaign that in year then cited customers helps. the decrease of if concentration and your of as your of smaller be customers number decrease was little set there. to a beginning in out year wondering you a to the short-term mentioned to more guys smaller And Services you speak appreciate how way sort expectations? believe. I sort to of compared you the got the and of a that beginning you Okay, pursuing the strategy

Ted Murphy

do want take to Ryan, that? you

Ryan Schram

of Hey, Eric. things on sure. going Yes, couple here. is There a

does say investors by will four Services starting should there to that quarters. quarter. annual customer fiscal on pipeline up of that one expect diversity just reported who as forward-looking that as from unit. pretty thought I on programs three, Managed to Services happens think average average there's Managed kind for quarter quarter would re-commitments, we that the of the yes, a the and obviously we we a on number on us only a it, a really number of from that customers period benefit you're deals for sizes for to in not in their be deal worked referring fact that And is some whereby of calendar in size seeing kind this give you're looking And for an but on pipeline overall those are so that deal certain some to multiple provide it I year composition go that pleased bigger basis, it in we’re virtue that reliant the to has comp to for. just of re-upping we’re wide basis are there possibility terms a that are perspective, also that four of see a our quarter spectrum commitments

Eric Des Lauriers

much way levels last to our high to came margin this question you expect range Thanks. persist you kind from I those expectations. other? we forward wondering around of ahead move just in continue if hang me. one TapInfluence or to materially or then should integrate the And of was just expect gross as efficient going margins Gross them XXs how

Michael Heald

overall just that expansion a PAYPOP margin positive forward think of obviously initiatives I get there. do A the Spend right on now like are additionally, Spend a this pretty quarter necessarily that's backwards increase licensing that of and I a how slide to be pleased rolling dependent in that's also lot Marketplace like, has going of we’re marketplace I has model we that a And safe margin this We're more But definitely that that we looks with software lot fees. to right out to should that certainly help the what you as story think think that but I There there. impact developing now. margin. going by overtime. think continues Marketplace is to bet, don't the kind on that if that from are

Operator

you. Thank

Our from Hickman John Thalmann. line proceed. next question comes with of Please Ladenburg

John Hickman

who Ryan new What really for or could if take Ted the don't it’s you pipeline you third I like that million what the to know what of on everything that? sales wants but elaborate this closes -- million. quarter, $XX business the does elaborate XX or mean, on could

Ryan Schram

proposals Absolutely, in that all is value we period report total that the so John of of clients time. of during number the front pipeline placed

SaaS So correct. $XX we million different converted and Services the business different and well the percentages sell dollar when were in to we the year, that's percentages your put every Managed throughout as that that’s unit. If as obviously question, about by our answer pocket, business conversion to we the talk on

John Hickman

Okay, took so year early last and on are normalized, were of were seeing lengthening proposal times part -- historical of long then it the with concerned it or a back those earlier theoretically, year, experiencing now? to we times close in and the how this you you norms what this

Ryan Schram

so They take when just for to what's really and and direct lot to larger different sizes longer concern a often farm the it’s and then fantastic. basically doing working brand which want back and focusing those those but deals is that bet on we’re the we're they on us, we that. when correlation now wins great are close close The

previously, a not that just deal widening from to we ability increase the part to example, digit digit been So after able partially belief by to. low this or ones really referring going of we’ve in on year, are three our and but was it growth wider the what that focus was consistent yes seven variety is for of a have that that pipeline five compared quarter to asked with answer was benefit which digits spectrum that, XX% driven seeing that solid of sizes been has six investments, the fact team last I in Eric

Ted Murphy

that would I that pipeline John increased thing last just over QX of itself other the that not has diversity it’s dramatically The it's the pipeline add has too. year, is increased of there

So proposals the increased that put has in we’ve raw opportunity count, the XX%. front number of by customers of

in bigger So sales order goals. reliance hit we have less to our on contracts those

John Hickman

as -- as Ted can long for quantify give going of at you us talking, all your of idea into can you’re So QX? any you momentum bookings the

Ted Murphy

nicely for that and continue in having is SaaS mean business heading. person ultimately We to we market, about I a Yes, bookings back had platform a and were This is so and revenue. for now. SaaS type sales recognition a really This that of month. recovering. on side. through not say going trail I'd mentioned quarters, a quarter but there's good thing high is I well. all-time depending -- December that on where had is Managed And four us renewal on our Services a any Those feel churn far Services business operations per huge we’ve commitments average in signed that’s those on also -- an or us, see I were the premature right this feel hit bookings what from is customers well us. of revenue I our this on is. into Managed the a progressing from we and we're a our what TapInfluence out premature is originally it major say be some customers I that couple SaaS our in years these have the on big year Ryan The acquired like for The through been as really big think we quarter translate to gains efficiencies really are the going customers mix that a would product renewal longer-term we've rolled got were

are So, that would we’ve got to from going and pretty and the where to about close sequentially but plenty I'm revenue we feeling to do year, QX expect are out I up QX. of good be work bookings

John Hickman

guess And from that's you. just. me. Thank I it

Operator

Thank you. Instructions] [Operator

question of the next proceed. a private comes Ringer, investor. line Our Nick Please from

Unidentified Analyst

of just could a how acquisition was to your your services one and to business that's your new that's So if give has do my questions capabilities you little wondering, of largely affected TapInfluence. of with also background contributing I opportunities? on how bit

Ted Murphy

I'll take one. let Ryan that

Ryan Schram

to accretive Sure. perspective from benefit play that dimensions. our was multiple Nick a SaaS were is TapInfluence it organization. They pure The in

consistently technology from company has tech brand is in have a So clients hearing to software-focused our we they that in so and both technology addressed in like personnel, we're ladened really opening clients brand IZEA provide hybrid very agency looking solution, as I a our what bring are the been outlined a or the in for business yesteryear” that only not ability for my the but for the not thought the of People direction. totally look business, the being here, opportunity of who leadership then nuanced base looking are a but looking when has “agencies new working to level of to they're Ted briefly needed. expert expertise services When very his very lines necessarily in able provide IZEA in those to at relationship. valuable that prepared customer the this as well remarks quarter remarks, this

way doing tell these marketing is for we I family So and pleased has their combined efficient, very just to with we’re we and had meet some And the an newly content companies response. and opportunity face-to-face win. about this been having that myself a actionable as the personally frankly of been story real IZEA adding I like Tap a customers in a influencer now positive and lot to we've many feel been response. We've with think

John Hickman

plan move to Yes, a you how Could to that the your in on touch a how had hear you through increase software. revenue you're bit from forward good. I'm business to focusing expect to the pretty curious very increase continuing with on good software impact on licensing the it's Alright, that and software revenue I that future? there licensing. your little you nice saw focusing

Ryan Schram

it's a plan. really Sure, three-part

up IZEAx of here hard win saying legacy in we’re to a is that on I customers customers. ago the quarter on the on is like was very would other working some the We've that coming four. say on first two near-term. The been critical business Ted moment TapInfluence Mid-to-long-term focusing maintaining and those new part are points towards focusing of renewals continuing

zero so have of to lot far, do there. that percent we We work churn are but of proud a

continue provide experience building. see to people we've been them the value that of positive with help that all We and tools really the

area not also, migration The marketing only us. growth third tied customers the IZEAx, a does finding Tap What also place have growth for step we’re naturally but is for really in potential ability partially of marketplace toward incremental expanding marketing, and those to one a but the for relationships. content influencer to that posts, is is that all frankly, legacy promoted

we The other and IZEAx, in Bowl have Tap customers that's of great, for some our say or are execution I’ll opportunity. we but that and Managed your whether services a in a up-sell who interesting goes Services cross-sell I who or nuance reverse. keep same licensing help that’s The who great thing a license are planning business that course Super for need say is both camps, it's software,

doing some or themselves license people would programs actually to and continue to work us to than realizes that Services were they smaller our platform those. engage that they for be with Managed We for or manually could more who maybe in have love normally they years execute they us but they doing and

about more our I a of this Nick tell unified So dimensions we software see going of opportunity multiple approach story we with about to us. front services think growth opportunity more the of we’re in lot can do And this. and that

Operator

Thank you.

comes proceed. line the Shino, Investor. is next Joe Our Please a of from who Private question

Unidentified Analyst

do the fan forward. market going for a company be simple. is is what market big story, people the why? or to and of of is about like question it the this like There line not seem do, lot and excited you it always question the but growth my will as for a going where seem guess My take it feel the it am I seems doesn't the good as positives buying I it's sure of I on, guess I’m and here discounted a to on lot

Ted Murphy

regulations case of to We changed nano-cap or in. size. that the have difficult space I precluded market the our recommending stocks in brokers it’s of a one, take this I'll really lot think that be have a know the micro-cap from our

a a bit of be can that so challenge us. for And

of all value also but impact can deliver we management of I more think we think believe is that executing stock. to and be we What best low-float We that a do and But that to it’s thinly and market, shareholder a ultimately pretty be we time. investors will that way continue little we kind company believe and shares recognize to that incredible frustration ultimately of of execution would will relatively the over the aware and the of on a focus that and as kind traded here it. we that be things your do it by the and supportive those recognized to built as is try we’ve bit to team management certainly we really wake team deliver

Operator

would reached We’ve I the to closing Q&A for our Schram call like to hand remarks. back you. end the Ryan now Thank of over session.

Ryan Schram

and We thank we support. website, for on a to visit IZEA for investor your as is this participation Thanks encourage us afternoon always, izea.com/investors. again the website, evening. Have your it’s and relations joining wonderful you which available everybody our

Operator

teleconference. Thank you. This concludes today’s

now thank And participation. your lines at may You time. for this you your disconnect

IZEA Worldwide (IZEA) 14 Nov 182018 Q3 Earnings call transcript