IZEA Worldwide, Inc.

Greetings and welcome to the IZEA Worldwide fourth quarter and full year 2025 earnings call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during this conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, John Francis, Vice President, Sales and Marketing Operations. Thank you. You may begin.

Good afternoon, everyone, and welcome to IZEA's earnings call covering the fourth quarter of 2025. I'm John Francis, VP Sales and Marketing Operations at IZEA. And joining me on the call are IZEA's Chief Executive Officer, Patrick Venitucci, and IZEA's Chief Financial Officer, Peter Bieri. Thank you for being with us today. Earlier this afternoon, the company issued a press release detailing IZEA's performance during Q4 2025. If you would like to review those details, please visit our investor relations website at IZEA.com slash investors. Before we begin, please take note of the safe harbor paragraph included in today's press release covering IZEA's financial results and be advised that some of the statements we make today regarding our business, operations, and financial performance may be considered forward-looking and such statements involve a number of risks and uncertainties that could cause actual results to differ materially. We encourage you to consider the disclosures contained in our SEC filings for a detailed discussion of these factors. Our commentary today will also include the non-GAAP financial measures of adjusted EBITDA and revenues excluding divested operations. Reconciliations between GAAP and non-GAAP metrics for our reported results can also be found in our earnings release issued earlier today and in our publicly available filings. And with that, I would now like to introduce and turn the call over to IZEA's Chief Executive Officer, Patrick Venitucci. Patrick?

Thank you, John, and good afternoon, everyone. At the end of 2024, the leadership team and I made a commitment to accelerate our path to profitability. I'm pleased to announce that at the end of 2025, we delivered on that commitment. Year on year, we broke even, increased cash, held managed services revenue relatively flat, excluding Whozoo, and grew our enterprise accounts faster than the market. We achieved a net profit swing of $18.9 million, which is not only a first for this company, but is a notable event in the context of micro-cap public company turnarounds. Annual revenue was $31.2 million, a 13% decrease that reflects a deliberate strategic pivot toward long-term profitability compounded by broader macroeconomic headwinds. During the year, we successfully exited international markets and off-boarded lower-margin SMB accounts to prioritize a high-potential enterprise portfolio. These internal shifts coincided with government-induced disruptions as DOGE and trade policies negatively impacted our government and retail accounts. Looking at the fourth quarter, revenue was $6.1 million, down 45% year-over-year. More than half of this variance was a direct result of our strategic client rationalization. While the balance can be attributed to delayed bookings in the second half, of the year on a few key enterprise accounts in a conservative holiday marketing environment. Despite these strategic shifts and external headwinds, managed services revenue, excluding HUSU, remained resilient, finishing the year down a modest 2%. This relative stability masks significant underlying growth, considering our enterprise accounts expanded well above industry growth rates. As we've strengthened and expanded our relationships with enterprise clients, we've been rewarded with more business. We have successfully scaled five enterprise accounts beyond the million-dollar threshold, each delivering double or triple-digit growth. Having largely worked through the attrition of our legacy S&B accounts, we believe the client portfolio is close to being stabilized, allowing the higher growth potential of our enterprise business to take center stage. Our sales and marketing efforts are attracting new clients, and our pipeline reached a new high for the year, with invitations to larger pitches growing. Lastly, we produced new work for Stellantis, Warner Brothers, Georgia Pacific, Danone, and many other leading brands, consistently delighting our clients. Our restructured cost base was instrumental in our return to profitability this year. We achieved a 40% reduction in total operating expenses, driving a significant turnaround in cash operating profit to $0.7 million, a substantial recovery from last year's $11.1 million cash operating loss. This disciplined approach further strengthened our balance sheet, putting an end to the cash burn. By implementing advanced human capital management systems We have institutionalized this class discipline to ensure our profitability is both sustainable and scalable. Looking ahead, our strategy is centered on a few core pillars. We are building deeper vertical expertise and executing key account plans on our enterprise accounts to maximize value for these high potential clients. We are refocusing our SMB efforts on boutique accounts, clients with franchise business models, so that our solution frameworks are highly repeatable. We are investing in high-tier talents who can level up our capabilities in creator strategy, media, and commerce, which our enterprise clients are demanding. At the same time, we are extremely active in M&A discussion, searching for companies that can build these capabilities faster and accelerate the growth of our enterprise client portfolio. It's important to note that given our low operating margin, an acquisition could be instantly accretive. Operationally, we are preparing to launch a proprietary technology platform which will enable our account managers to manage integrated creator campaigns at enterprise scale efficiently and effectively. This platform is infused with AI and tightly integrated with our unified operating model. In summary, we've reset the company's economic model in 2025 by creating operating leverage beyond cost reduction, establishing durable break-even economics where future revenue growth is expected to translate directly into profitability. This work has positioned the company for long-term success with a more focused client portfolio, a stronger leadership team, an engaging culture, significant client opportunity, and incredible possibilities with IZEA's technology platform. With all of this momentum and opportunity ahead of us, I am optimistic about the future of this company and our ability to deliver additional value to all of our stakeholders, shareholders, clients, and employees alike. With that, I'll turn the call over to Peter Beery, our Chief Financial Officer, for a closer look at the financial results.