IZEA - IZEA Worldwide's Managed Services bookings falls 50% in Q1
2023-04-10 16:34:52 ET
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IZEA Worldwide ( NASDAQ: IZEA ) on Monday said its Managed Services team logged contract bookings of $6.1 million in the first quarter of 2023, down from $12.1 million for the same period last year.
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The company said year-over-year decrease in overall bookings in Q1 was in part due to the unwinding of business with one large customer who had an outsized impact on Q1 of last year.
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“The overall volume of sales was strong in this quarter, but total bookings suffered from a decrease in average deal size. We are seeing a softness in customer budgets this year compared to last year,” CEO Ted Murphy said.
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IZEA Worldwide's Managed Services bookings falls 50% in Q1