izea-20250630

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

FORM 10-Q

(Mark One)


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period June 30, 2025


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _________________ to _________________

Commission File No.: 001-37703

IZEA WORLDWIDE, INC.

(Exact name of registrant as specified in its charter)


Nevada						37-1530765
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)


1317 Edgewater Dr., # 1880, Orlando, FL						32804
(Address of principal executive offices)						(Zip Code)

Registrant’s telephone number, including area code: (407) 674-6911

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol (s)

Name of each exchange on which registered

Common Stock, par value $0.0001 per share

IZEA

The Nasdaq Capital Market

Series A Junior Participating Preferred Stock Purchase Rights

The Nasdaq Capital Market

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No o

Table of Contents

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☐

Accelerated filer

☐

Non-Accelerated Filer

☒

Smaller reporting company

☒

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No x

As of August 8, 2025, there were 17,008,577 shares of our common stock outstanding.

Table of Contents

IZEA Worldwide, Inc.

Form 10-Q

For the Quarterly Period Ended June 30, 2025


Table of Contents			Page
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements			1
Unaudited Consolidated Balance Sheets as of June 30, 2025 and December 31, 2024			1
Unaudited Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2025 and 2024			2
Unaudited Consolidated Statements of Comprehensive Income (Loss) for the Three and Six Months Ended June 30, 2025 and 2024			3
Unaudited Consolidated Statements of Stockholders’ Equity for the Three and Six Months Ended June 30, 2025 and 2024			4
Unaudited Consolidated Statement of Cash Flows for the Six Months Ended June 30, 2025 and 2024			5
Notes to the Unaudited Consolidated Financial Statements			7
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operation			28
Item 3. Quantitative and Qualitative Disclosures About Market Risk			38
Item 4. Controls and Procedures			39

PART II. OTHER INFORMATION
Item1. Legal Proceedings			41
Item 1A. Risk Factors			41
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds			41
Item 3. Defaults Upon Senior Securities			42
Item 4. Mine Safety Disclosures			42
Item 5. Other Information			42
Item 6. Exhibits			43

Signatures			46

Table of Contents

PART I - FINANCIAL INFORMATION

ITEM 1. — FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

IZEA Worldwide, Inc.

Unaudited Consolidated Balance Sheets


	June 30, 2025		December 31, 2024
Assets
Current assets:
Cash and cash equivalents	$	50,643,015	$	44,644,468
Accounts receivable, net	6,177,880		7,781,824
Prepaid expenses	545,794		1,079,045
Short term investments	—		6,427,488
Other current assets	22,370		97,215
Total current assets	57,389,059		60,030,040

Property and equipment, net of accumulated depreciation	58,890		103,574



Software development costs, net of accumulated depreciation	2,182,241		2,086,660

Total assets	$	59,630,190	$	62,220,274

Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	957,100	$	1,511,747
Accrued expenses	2,631,553		3,734,123
Contract liabilities	6,661,453		8,188,651

Total current liabilities	10,250,106		13,434,521

Finance obligation, less current portion	—		4,034


Total liabilities	$	10,250,106	$	13,438,555

Commitments and Contingencies (Note 9)

Stockholders’ equity:
Preferred stock; $0.0001 par value; 10,000,000 shares authorized; no shares issued and outstanding	—		—
Common stock; $0.0001 par value; 50,000,000 shares authorized; shares issued: 17,803,029 and 17,518,018, respectively, shares outstanding: 16,913,906 and 16,931,169, respectively.	1,780		1,752
Treasury stock at cost: 889,123 and 586,849 shares at June 30, 2025 and December 31, 2024, respectively	(2,344,698)		(1,622,065)
Additional paid-in capital	155,009,102		154,593,800
Accumulated deficit	(103,234,787)		(104,297,055)
Accumulated other comprehensive income (loss)	(51,313)		105,287
Total stockholders’ equity	49,380,084		48,781,719
Total liabilities and stockholders’ equity	$	59,630,190	$	62,220,274

See accompanying notes to the consolidated financial statements.

IZEA Worldwide, Inc.

Unaudited Consolidated Statements of Operations


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Revenue	$	9,133,232	$	9,093,816	$	17,101,595	$	16,046,699

Costs and expenses:
Cost of revenue	4,386,612		5,177,600		8,788,186		9,145,575
Sales and marketing	962,017		3,206,979		2,083,799		6,263,270
General and administrative	2,897,551		3,372,797		5,838,058		7,155,883
Depreciation and amortization	149,242		225,748		309,594		429,934
Total costs and expenses	8,395,422		11,983,124		17,019,637		22,994,662

Income (loss) from operations	737,810		(2,889,308)		81,958		(6,947,963)

Other income (expense):
Change in the fair value of digital assets	—		(26,043)		—		80,116
Interest expense	(1,784)		(1,999)		(3,438)		(4,000)
Other income (expense), net	469,042		634,226		983,748		1,304,091
Total other income (expense), net	467,258		606,184		980,310		1,380,207

Net income (loss) before income taxes	$	1,205,068	$	(2,283,124)	1,062,268		(5,567,756)
Tax benefit	—		88,296		—		107,078
Net income (loss)	1,205,068		(2,194,828)		$	1,062,268	$	(5,460,678)

Weighted average common shares outstanding – basic	16,947,527		16,437,460		16,980,960		16,470,467
Basic income (loss) per common share	$	0.07	$	(0.13)	$	0.06	$	(0.33)

Weighted average common shares outstanding - diluted	17,817,378		16,437,460		17,827,552		16,470,467
Diluted income (loss) per common share

SEC Form 10-Q filed by IZEA Worldwide Inc.