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IZEA Q1 loss narrows YOY

IZEA Worldwide Inc. said its normalized net income for the first quarter amounted to a loss of 31 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 44 cents per share.

The per-share loss narrowed 66.4% year over year from 91 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.6 million, compared with a loss of $2.6 million in the year-earlier period.

The normalized profit margin rose to negative 29.7% from negative 63.4% in the year-earlier period.

Total revenue increased 32.2% on an annual basis to $5.5 million from $4.1 million, and total operating expenses climbed 38.5% from the prior-year period to $8.0 million from $5.8 million.

Reported net income totaled a loss of $2.6 million, or a loss of 49 cents per share, compared to a loss of $4.3 million, or a loss of $1.48 per share, in the year-earlier period.