On November 7, 2024, Banzai International, Inc., a leading marketing technology company, released its preliminary financial results for the third quarter ending September 30, 2024. The unaudited report showed a significant improvement in the company's financial health, with an adjusted net loss of approximately $0.9 million, marking a $3.6 million improvement from the previous quarter. The annualized adjusted net income showed a remarkable increase of $14.5 million. Banzai also reported a historic high in Net Revenue Retention (NRR) and a 31% annualized growth rate in Annual Recurring Revenue (ARR), which reached approximately $4.4 million. Adjusted EBITDA for the quarter was approximately negative $1.4 million, yet this still represented a $0.5 million improvement from the second quarter. The company's cash reserves were at an all-time high of approximately $4.2 million...Show More

On November 7, 2024, Banzai International, Inc., a leading marketing technology company, released its preliminary financial results for the third quarter ending September 30, 2024. The unaudited report showed a significant improvement in the company's financial health, with an adjusted net loss of approximately $0.9 million, marking a $3.6 million improvement from the previous quarter. The annualized adjusted net income showed a remarkable increase of $14.5 million. Banzai also reported a historic high in Net Revenue Retention (NRR) and a 31% annualized growth rate in Annual Recurring Revenue (ARR), which reached approximately $4.4 million. Adjusted EBITDA for the quarter was approximately negative $1.4 million, yet this still represented a $0.5 million improvement from the second quarter. The company's cash reserves were at an all-time high of approximately $4.2 million as of September 30, 2024. Banzai's CEO, Joe Davy, expressed optimism about the company's trajectory and announced a conference call scheduled for November 14, 2024, to discuss the results in detail. The full financial results will be included in the Quarterly Report on Form 10-Q to be filed with the U.S. Securities and Exchange Commission by the same date.