Banzai International reported Q2 2024 revenue of $1.07 million, down 10.5% from $1.19 million in Q2 2023, with gross profit declining to $738,189. The company's net loss widened to $4.17 million compared to $3.49 million in the prior year quarter, primarily due to increased operating expenses and lower revenue.Operating expenses rose 47.4% to $4.32 million, driven by higher salaries, marketing costs, and professional services expenses. The company's cash position decreased to $471,747 as of June 30, 2024, from $2.09 million at year-end 2023, while maintaining a working capital deficit of approximately $34 million.Management secured additional financing through a $2.5 million registered direct offering in May 2024 and issued convertible notes to Yorkville. However, the company noted substantial doubt about its ability to continue as a going concern, citing recurring losses and negative cash flows. Banzai plans to seek additional funding through its SEPA arrangement and other equity financings in 2024.

Banzai International reported Q2 2024 revenue of $1.07 million, down 10.5% from $1.19 million in Q2 2023, with gross profit declining to $738,189. The company's net loss widened to $4.17 million compared to $3.49 million in the prior year quarter, primarily due to increased operating expenses and lower revenue.Operating expenses rose 47.4% to $4.32 million, driven by higher salaries, marketing costs, and professional services expenses. The company's cash position decreased to $471,747 as of June 30, 2024, from $2.09 million at year-end 2023, while maintaining a working capital deficit of approximately $34 million.Management secured additional financing through a $2.5 million registered direct offering in May 2024 and issued convertible notes to Yorkville. However, the company noted substantial doubt about its ability to continue as a going concern, citing recurring losses and negative cash flows. Banzai plans to seek additional funding through its SEPA arrangement and other equity financings in 2024.