Banzai International, Inc. has reported its financial performance for the first quarter ended March 31, 2024, in its latest Quarterly Report on Form 10-Q. The company experienced a revenue decline of 8.3% to $1.08 million compared to the same period in the previous year. Net losses widened to $4.5 million, up from $3.8 million in Q1 2023, while operating expenses surged by 35.9% to $4.31 million. Banzai's cash reserves have dwindled to $1.03 million, and the company is facing a working capital deficit of $33.1 million and an accumulated deficit of $51.3 million. The company also reported outstanding debt of approximately $16.62 million. Banzai is currently not meeting specific financial covenants of its loan agreement with CP BF Lending, LLC, and its ability to continue as a going concern is in question, hinging on its ability to secure additional funding. The company is closely monitoring various key performance metrics to assess its operational performance. As an emerging growth company, Banzai is subject to reporting exemptions and notes that future results may not align with Legacy Banzai's historical data due to the Business Combination.

Banzai International, Inc. has reported its financial performance for the first quarter ended March 31, 2024, in its latest Quarterly Report on Form 10-Q. The company experienced a revenue decline of 8.3% to $1.08 million compared to the same period in the previous year. Net losses widened to $4.5 million, up from $3.8 million in Q1 2023, while operating expenses surged by 35.9% to $4.31 million. Banzai's cash reserves have dwindled to $1.03 million, and the company is facing a working capital deficit of $33.1 million and an accumulated deficit of $51.3 million. The company also reported outstanding debt of approximately $16.62 million. Banzai is currently not meeting specific financial covenants of its loan agreement with CP BF Lending, LLC, and its ability to continue as a going concern is in question, hinging on its ability to secure additional funding. The company is closely monitoring various key performance metrics to assess its operational performance. As an emerging growth company, Banzai is subject to reporting exemptions and notes that future results may not align with Legacy Banzai's historical data due to the Business Combination.