Banzai Reports Second Quarter 2025 Financial Results
Banzai (NASDAQ: BNZI) reported strong Q2 2025 financial results, with revenue reaching $3.3 million, representing a 205% increase from Q2 2024. The company achieved significant gross profit growth of 267% to $2.7 million, with gross margin expanding to 83.0%.
Annual Recurring Revenue (ARR) grew 182% to $12.6 million. The company strengthened its leadership team by appointing Dean Ditto as CFO and Michael Kurtzman as CRO. Banzai secured an $11.0 million debt facility and expanded its customer base to over 140,000 customers. Notable achievements include expanded agreements with RBC Capital Markets for their OpenReel solution.
Despite growth, the company reported a net loss of ($7.8) million in Q2 2025, compared to ($4.0) million in Q2 2024, while maintaining Adjusted EBITDA at ($1.5) million.
Banzai (NASDAQ: BNZI) ha comunicato risultati finanziari solidi per il secondo trimestre 2025: i ricavi sono arrivati a $3,3 milioni, in aumento del 205% rispetto al Q2 2024. L'utile lordo è cresciuto del 267% raggiungendo $2,7 milioni e il margine lordo si è ampliato al 83,0%.
L'Annual Recurring Revenue (ARR) è salito del 182% a $12,6 milioni. La società ha rafforzato il management nominando Dean Ditto CFO e Michael Kurtzman CRO. Banzai ha ottenuto una linea di credito di $11,0 milioni e ha ampliato la sua base clienti oltre 140.000 account. Tra i risultati rilevanti figurano estensioni contrattuali con RBC Capital Markets per la soluzione OpenReel.
Nonostante la crescita, il gruppo ha registrato una perdita netta di ($7,8) milioni nel Q2 2025, rispetto a ($4,0) milioni nello stesso periodo del 2024, mantenendo un Adjusted EBITDA di ($1,5) milioni.
Banzai (NASDAQ: BNZI) presentó sólidos resultados financieros en el segundo trimestre de 2025: los ingresos alcanzaron $3.3 millones, un 205% más que en el Q2 de 2024. El beneficio bruto aumentó un 267% hasta $2.7 millones, y el margen bruto se amplió hasta el 83.0%.
Los ingresos recurrentes anuales (ARR) crecieron un 182% hasta $12.6 millones. La compañía reforzó su equipo directivo nombrando a Dean Ditto como CFO y a Michael Kurtzman como CRO. Banzai aseguró una línea de deuda por $11.0 millones y amplió su base de clientes a más de 140,000. Entre los logros destacados figuran acuerdos ampliados con RBC Capital Markets para su solución OpenReel.
A pesar del crecimiento, la compañía registró una pérdida neta de ($7.8) millones en el Q2 2025, frente a ($4.0) millones en el Q2 2024, manteniendo un EBITDA Ajustado de ($1.5) millones.
Banzai (NASDAQ: BNZI)는 2025 회계연도 2분기에 견조한 실적을 발표했습니다. 매출은 $3.3 million으로 전년 동기 대비 205% 증가했습니다. 총이익은 267% 늘어난 $2.7 million을 기록했고, 총마진은 83.0%로 확대되었습니다.
연간 반복수익(ARR)은 182% 증가한 $12.6 million이었습니다. 경영진도 강화되어 Dean Ditto가 CFO로, Michael Kurtzman가 CRO로 각각 임명되었습니다. Banzai는 $11.0 million 규모의 부채 한도를 확보했고 고객 수를 140,000명 이상으로 확대했습니다. 주요 성과로는 OpenReel 솔루션과 관련해 RBC Capital Markets와의 계약 확대가 있습니다.
성장에도 불구하고 회사는 2025년 2분기에 순손실 ($7.8) million을 기록했으며, 이는 2024년 2분기의 ($4.0) million에서 악화된 수치입니다. 조정 EBITDA는 ($1.5) million을 유지했습니다.
Banzai (NASDAQ: BNZI) a publié de solides résultats pour le deuxième trimestre 2025 : le chiffre d'affaires a atteint 3,3 M$, soit une hausse de 205% par rapport au T2 2024. Le bénéfice brut a augmenté de 267% pour atteindre 2,7 M$ et la marge brute s'est élargie à 83,0%.
Les revenus récurrents annuels (ARR) ont progressé de 182% pour atteindre 12,6 M$. L'entreprise a renforcé son équipe dirigeante en nommant Dean Ditto CFO et Michael Kurtzman CRO. Banzai a obtenu une facilité de dette de 11,0 M$ et porté sa base clients à plus de 140 000. Parmi les réalisations notables figurent l'extension d'accords avec RBC Capital Markets pour la solution OpenReel.
Malgré cette croissance, la société a enregistré une perte nette de (7,8 M$) au T2 2025, contre (4,0 M$) au T2 2024, tout en maintenant un EBITDA ajusté de (1,5 M$).
Banzai (NASDAQ: BNZI) meldete starke Finanzergebnisse für das zweite Quartal 2025: der Umsatz belief sich auf $3,3 Millionen, ein Anstieg von 205% gegenüber Q2 2024. Der Bruttogewinn wuchs um 267% auf $2,7 Millionen und die Bruttomarge weitete sich auf 83,0% aus.
Der Annual Recurring Revenue (ARR) stieg um 182% auf $12,6 Millionen. Das Unternehmen verstärkte sein Führungsteam mit der Ernennung von Dean Ditto zum CFO und Michael Kurtzman zum CRO. Banzai sicherte sich eine Kreditlinie in Höhe von $11,0 Millionen und erweiterte seine Kundenbasis auf über 140.000 Kunden. Zu den bemerkenswerten Erfolgen zählen ausgeweitete Vereinbarungen mit RBC Capital Markets für die OpenReel-Lösung.
Trotz des Wachstums verzeichnete das Unternehmen im Q2 2025 einen Nettoverlust von ($7,8) Millionen gegenüber ($4,0) Millionen im Q2 2024, wobei das bereinigte EBITDA bei ($1,5) Millionen blieb.
- Revenue grew 205% year-over-year to $3.3 million in Q2 2025
- Gross margin expanded significantly to 83.0%, up from 69.1% in Q2 2024
- Annual Recurring Revenue (ARR) increased 182% to $12.6 million
- Secured $11.0 million debt facility for acquisitions and operations
- Customer base expanded to over 140,000 total customers
- Stockholder's Equity improved by $35 million to $3.2 million
- Net loss increased to ($7.8) million from ($4.0) million in Q2 2024
- Operating expenses increased significantly to $7.4 million from $4.1 million
- Cash balance remained relatively low at $2.3 million
- Net cash used in operations increased to $9.0 million from $3.8 million
Insights
Banzai's Q2 shows impressive 205% revenue growth but widening losses as the company balances expansion with path to profitability.
Banzai's Q2 2025 results show remarkable revenue acceleration, with the company achieving
The company's Annual Recurring Revenue (ARR) metric, which is a forward-looking indicator of revenue strength, reached
Despite these strong top-line metrics, Banzai's net loss widened significantly to
The company's balance sheet improvements are notable. Stockholders' equity turned positive at
The recent additions of a CFO and CRO with enterprise experience signal Banzai's strategic shift toward larger customers. This is evidenced by expanded agreements with enterprises like RBC Capital Markets for their OpenReel solution, suggesting a path to more stable, high-value contracts. Their total customer count has expanded to over 140,000.
Investors should monitor the company's cash burn rate closely. With
Revenue of
Gross Profit of
Management to Host Second Quarter 2025 Results Conference Call Today, Thursday, August 14, 2025 at 4:30 p.m. Eastern Time
SEATTLE, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Banzai International, Inc. (NASDAQ: BNZI) (“Banzai” or the “Company”), a leading marketing technology company that provides essential marketing and sales solutions, today reported financial results for the second quarter ended June 30, 2025.
Second Quarter 2025 and Subsequent Key Financial & Operational Highlights
- Revenue of
$3.3 million for Q2 2025, representing an increase of205% over Q2 2024. - Gross profit of
$2.7 million for Q2 2025, representing an increase of267% over Q2 2024. Gross margin was83.0% in Q2 2025, compared to69.1% in Q2 2024. - Annual Recurring Revenue (ARR) of
$12.6 million for Q2 2025, representing an182% increase in the same period year over year. - Cash balance was
$2.3 million as of June 30, 2025. - Stockholder’s Equity increased to
$3.2 million as of June 30, 2025, an increase of$35 million , compared to June 30, 2024. - Q2 2025 Net Loss was (
$7.8) million , compared to ($4.0) million in Q2 2024. - Q2 2025 Adjusted EBITDA was (
$1.5) million , compared to ($1.5) million in Q2 2024. - Secured an
$11.0 million dollar debt facility with an institutional investor to support acquisitions and ongoing operations. - Appointed Dean Ditto as Chief Financial Officer, bringing over 30 years’ experience as a strategic financial leader with a track record of implementing critical business initiatives that drive profitable growth at both public and private companies.
- Appointed Michael Kurtzman as Chief Revenue Officer, a veteran revenue and go-to-market executive, to scale Banzai’s leading video engagement, production, and webinar solutions.
- Expanded customer base to over 140,000 total customers as of August 14, 2025.
- Secured expanded agreements with RBC Capital Markets and other prominent enterprises for OpenReel.
“The second quarter was highlighted by continued revenue momentum, key additions to our leadership team, and a strengthened balance sheet as we move into our next phase of growth," said Joe Davy, Founder and CEO of Banzai. “Our Vidello and OpenReel businesses and strong performance for our products continued to drive revenue to
“Growth was driven by our focus on mid-market and enterprise customers, and on the Reach product through re-engineering and expanded sales efforts. In total, we now serve over 140,000 customers.
“We made significant improvements to our balance sheet and cost structure, which we believe will position us for sustainable profitability in the future. Most recently we secured new debt financing of up to
“We have secured expanded agreements with several prominent enterprises including RBC Capital Markets for our OpenReel solution, further cementing OpenReel’s position as a leading digital video creation platform for enterprise marketing teams. These agreements further validate our expansion strategy in the enterprise and mid-market. We are seeing solid traction in the financial sector, where the OpenReel Creator tool gives global financial firms the ability to offer standardized branded video with personalization at scale for their wealth managers, partners, and other stakeholders.
“Operationally, we strengthened our management team with the recent additions of Dean Ditto as Chief Financial Officer and Michael Kurtzman as Chief Revenue Officer. Dean is a veteran financial and technology leader with strong capabilities in scaling public technology companies and driving profitable growth. Michael is a seasoned revenue and go-to-market executive with more than 20 years of global experience driving growth across startups, growth-stage ventures, and Fortune 50 companies. He is heading operations and customer-facing functions of leading video engagement, production, and webinar solutions including Demio, CreateStudio, and OpenReel. The primary objective of his role will be to increase revenue in the Video business unit to
“Looking ahead, we are focused on accelerating self-service subscriber growth, enterprise and mid-market expansion, and customer retention, while ensuring the continuous evolution of our product offerings. We are making strategic investments in our software platform, sales and marketing, product development, acquisition strategy and other organic growth initiatives, while managing costs efficiently. We are strengthening our capital structure and balance sheet to support future growth and create long term shareholder value,” concluded Davy.
Second Quarter 2025 Financial Results
Banzai believes its non-GAAP financial measure ARR is more meaningful in evaluating its performance. The Company’s management team evaluates its financial and operating results utilizing this non-GAAP measure. For the three months ending June 30, 2025, ARR was
Total revenue for the three months ended June 30, 2025, was
Total cost of revenue for the three months ended June 30, 2025 was
Gross profit for the three months ended June 30, 2025, was
Total operating expenses for the three months ended June 30, 2025, were
Net loss for the three months ended June 30, 2025, was
Adjusted EBITDA for the three months ended June 30, 2025, was (
First Half 2025 Financial Results
Total revenue for the six months ended June 30, 2025, was
Total cost of revenue for the six months ended June 30, 2025 was
Gross profit for the six months ended June 30, 2025, was
Total operating expenses for the six months ended June 30, 2025, were
Net loss for the six months ended June 30, 2025, was
Adjusted EBITDA for the six months ended June 30, 2025, was (
Net cash used in operating activities for the six months ended June 30, 2025, was
Cash totaled
Annual Recurring Revenue (“ARR”) refers to annual run-rate revenue of subscription agreements from all customers in the last month of the measured period. These statements are forward-looking and actual ARR may differ materially. Refer to the “Forward-Looking Statements” section below for information on the factors that could cause Banzai’s actual ARR to differ materially from these forward-looking statements.
Second Quarter 2025 Results Conference Call
Banzai Founder & CEO Joe Davy and CFO Dean Ditto will host the conference call, followed by a question-and-answer session. The conference call will be accompanied by a presentation, which can be viewed during the webcast or accessed via the investor relations section of the Company’s website here.
To access the call, please use the following information:
| Date: | Thursday, August 14, 2025 |
| Time: | 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time) |
| Webcast Registration: | Banzai Q2 Financial Results Conference Call |
A replay of the webcast and the presentation utilized during the call will be available in the Company’s investor relations section here.
Note About Non-GAAP Financial Measures
Adjusted EBITDA
In addition to our results determined in accordance with U.S. GAAP, we believe that Adjusted EBITDA, a non-GAAP measure as defined below, is useful in evaluating our operational performance distinct and apart from certain irregular, non-cash, and non-operational expenses. We use this information for ongoing evaluation of operations and for internal planning purposes. We believe that non- GAAP financial information, when taken collectively with results under GAAP, may be helpful to investors in assessing our operating performance and comparing our performance with competitors and other comparable companies.
Non-GAAP measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We endeavor to compensate for the limitation of Adjusted EBITDA, by also providing the most directly comparable GAAP measure, which is net loss, and a description of the reconciling items and adjustments to derive the non-GAAP measure.
Adjusted EBITDA should only be considered alongside results prepared in accordance with GAAP, including various cash-flow metrics, net income (loss) and our other GAAP results and financial performance measures.
| Net Income/(Loss) to Adjusted EBITDA Reconciliation | ||||||||||||||||
| ($ in Thousands) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | Period-over- Period $ | Period-over- Period % | ||||||||||||
| Net loss | $ | (11,437 | ) | $ | (8,245 | ) | $ | (3,192 | ) | 38.7 | % | |||||
| Depreciation expense | 547 | 3 | 544 | 18133.3 | % | |||||||||||
| Stock based compensation | 667 | 245 | 421 | 171.5 | % | |||||||||||
| Interest expense | — | 847 | (847 | ) | -100.0 | % | ||||||||||
| Interest expense - related party | 895 | 963 | (68 | ) | -7.1 | % | ||||||||||
| Income tax expense | (157 | ) | 6 | (163 | ) | -2716.7 | % | |||||||||
| GEM commitment fee expense | - | 200 | (200 | ) | -100.0 | % | ||||||||||
| Gain on extinguishment of liabilities | (4,489 | ) | (528 | ) | (3,961 | ) | 750.2 | % | ||||||||
| Loss on debt issuance | 443 | 171 | 272 | 159.1 | % | |||||||||||
| Loss on issuance of term notes | 1,769 | — | 1,769 | nm | ||||||||||||
| Loss on Private Placement Issuance | 837 | — | 837 | nm | ||||||||||||
| Change in fair value of warrant liability | (12 | ) | (562 | ) | 550 | -97.9 | % | |||||||||
| Change in fair value of warrant liability - related party | 2 | (345 | ) | 347 | -100.6 | % | ||||||||||
| Change in fair value of bifurcated embedded derivative liabilities - related party | 62 | - | 62 | nm | ||||||||||||
| Change in fair value of convertible notes | 238 | 578 | (340 | ) | -58.8 | % | ||||||||||
| Change in fair value of term notes | 316 | — | 316 | nm | ||||||||||||
| Change in fair value of convertible bridge notes | (38 | ) | — | (38 | ) | nm | ||||||||||
| Loss on yorkville sepa advances | 747 | — | 747 | nm | ||||||||||||
| Other expense, net | 1,211 | 60 | 1,151 | 1918.3 | % | |||||||||||
| Transaction related expenses* | 4,677 | 3,175 | 1,502 | 47.3 | % | |||||||||||
| Adjusted EBITDA (Loss) | $ | (3,722 | ) | $ | (3,492 | ) | $ | (231 | ) | 6.6 | % | |||||
About Banzai
Banzai is a marketing technology company that provides AI-enabled marketing and sales solutions for businesses of all sizes. On a mission to help their customers grow, Banzai enables companies of all sizes to target, engage, and measure both new and existing customers more effectively. Banzai has over 140,000 customers including RBC, Dell Technologies, New York Life, Thermo Fisher Scientific, Thinkific, and ActiveCampaign. Learn more at www.banzai.io. For investors, please visit https://ir.banzai.io.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often use words such as “believe,” “may,” “will,” “estimate,” “target,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “propose,” “plan,” “project,” “forecast,” “predict,” “potential,” “seek,” “future,” “outlook,” and similar variations and expressions. Forward-looking statements are those that do not relate strictly to historical or current facts. Examples of forward-looking statements may include, among others, statements regarding Banzai International, Inc.’s (the “Company’s”): future financial, business and operating performance and goals; annualized recurring revenue and customer retention; ongoing, future or ability to maintain or improve its financial position, cash flows, and liquidity and its expected financial needs; potential financing and ability to obtain financing; acquisition strategy and proposed acquisitions and, if completed, their potential success and financial contributions; strategy and strategic goals, including being able to capitalize on opportunities; expectations relating to the Company’s industry, outlook and market trends; total addressable market and serviceable addressable market and related projections; plans, strategies and expectations for retaining existing or acquiring new customers, increasing revenue and executing growth initiatives; and product areas of focus and additional products that may be sold in the future. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity and development of the industry in which the Company operates may differ materially from those made in or suggested by the forward-looking statements. Therefore, investors should not rely on any of these forward-looking statements. Factors that may cause actual results to differ materially include changes in the markets in which the Company operates, customer demand, the financial markets, economic, business and regulatory and other factors, such as the Company’s ability to execute on its strategy. More detailed information about risk factors can be found in the Company’s Annual Report on Form 10-K and the Company’s Quarterly Reports on Form 10-Q under the heading “Risk Factors,” and in other reports filed by the Company, including reports on Form 8-K. The Company does not undertake any duty to update forward-looking statements after the date of this press release.
Investor Relations
Chris Tyson
Executive Vice President
MZ Group - MZ North America
949-491-8235
BNZI@mzgroup.us
www.mzgroup.us
Media
Nancy Norton
Chief Legal Officer, Banzai
media@banzai.io
| BANZAI INTERNATIONAL, INC. Condensed Consolidated Balance Sheets | ||||||||
| June 30, 2025 | December 31, 2024 | |||||||
| (Unaudited) | ||||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash | $ | 2,253,903 | $ | 1,087,497 | ||||
| Accounts receivable, net of allowance for credit losses of | 809,482 | 936,321 | ||||||
| Prepaid expenses and other current assets | 757,513 | 643,674 | ||||||
| Total current assets | 3,820,898 | 2,667,492 | ||||||
| Property and equipment, net | 10,703 | 3,539 | ||||||
| Intangible assets, net | 8,635,827 | 3,883,853 | ||||||
| Goodwill | 21,991,721 | 18,972,475 | ||||||
| Operating lease right-of-use assets | 61,101 | 72,565 | ||||||
| Bifurcated embedded derivative asset - related party | 1,000 | 63,000 | ||||||
| Deferred tax asset | 140,644 | — | ||||||
| Other assets | 13,984 | 11,154 | ||||||
| Total assets | 34,675,878 | 25,674,078 | ||||||
| LIABILITIES AND STOCKHOLDERS' DEFICIT | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | 3,095,393 | 7,782,746 | ||||||
| Accrued expenses and other current liabilities | 4,405,626 | 3,891,018 | ||||||
| Convertible notes - related party | 8,425,943 | 8,639,701 | ||||||
| Convertible notes | — | 215,057 | ||||||
| Convertible notes, carried at fair value | 2,676,000 | — | ||||||
| Notes payable, carried at fair value | 4,661,000 | 3,575,000 | ||||||
| Warrant liability | 3,000 | 15,000 | ||||||
| Warrant liability - related party | 4,600 | 2,300 | ||||||
| Private placement warrant liability | 361,000 | — | ||||||
| Earnout liability | 2,324,365 | 14,850 | ||||||
| Due to related party | 167,118 | 167,118 | ||||||
| Deferred revenue | 4,095,847 | 3,934,627 | ||||||
| Operating lease liabilities, current | 24,250 | 22,731 | ||||||
| Total current liabilities | 30,244,142 | 28,260,148 | ||||||
| Deferred revenue, non-current | 115,725 | 117,643 | ||||||
| Deferred tax liability | 1,120,218 | 10,115 | ||||||
| Operating lease liabilities, non-current | 37,414 | 49,974 | ||||||
| Total liabilities | 31,517,499 | 28,437,880 | ||||||
| Commitments and contingencies (Note 15) | ||||||||
| Stockholders' equity (deficit): | ||||||||
| Common stock, | 245 | 80 | ||||||
| Preferred stock, | — | — | ||||||
| Additional paid-in capital | 92,875,082 | 75,515,831 | ||||||
| Accumulated deficit | (89,716,948 | ) | (78,279,713 | ) | ||||
| Stockholders' equity (deficit) | 3,158,379 | (2,763,802 | ) | |||||
| Total liabilities and stockholders' equity (deficit) | $ | 34,675,878 | $ | 25,674,078 | ||||
| BANZAI INTERNATIONAL, INC. Unaudited Condensed Consolidated Statements of Operations | ||||||||||||||||
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Operating income: | ||||||||||||||||
| Revenue | $ | 3,262,250 | $ | 1,068,197 | $ | 6,641,333 | $ | 2,147,669 | ||||||||
| Cost of revenue | 554,515 | 330,008 | 1,160,514 | 711,388 | ||||||||||||
| Gross profit | 2,707,735 | 738,189 | 5,480,819 | 1,436,281 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| General and administrative expenses | 7,112,803 | 4,109,234 | 14,545,891 | 8,208,022 | ||||||||||||
| Depreciation and amortization expense | 300,546 | 1,261 | 547,237 | 2,825 | ||||||||||||
| Total operating expenses | 7,413,349 | 4,110,495 | 15,093,128 | 8,210,847 | ||||||||||||
| Operating loss | (4,705,614 | ) | (3,372,306 | ) | (9,612,309 | ) | (6,774,566 | ) | ||||||||
| Other expenses (income): | ||||||||||||||||
| GEM settlement fee expense | — | — | — | 200,000 | ||||||||||||
| Interest income | — | — | (2 | ) | (10 | ) | ||||||||||
| Interest expense | — | 396,019 | — | 847,418 | ||||||||||||
| Interest expense - related party | 536,639 | 385,474 | 895,020 | 962,987 | ||||||||||||
| Gain on extinguishment of liabilities | (145,221 | ) | — | (4,488,627 | ) | (527,980 | ) | |||||||||
| Loss on debt issuance | 169,200 | — | 443,000 | 171,000 | ||||||||||||
| Loss on Private Placement Issuance | 837,000 | — | 837,000 | — | ||||||||||||
| Loss on extinguishment of term notes | — | — | 1,769,895 | — | ||||||||||||
| Change in fair value of warrant liability | (8,000 | ) | (154,000 | ) | (12,000 | ) | (562,000 | ) | ||||||||
| Change in fair value of warrant liability - related party | — | (230,000 | ) | 2,300 | (345,000 | ) | ||||||||||
| Change in fair value of bifurcated embedded derivative assets - related party | 19,000 | — | 62,000 | — | ||||||||||||
| Change in fair value of convertible notes | 78,900 | 34,000 | 238,000 | 578,000 | ||||||||||||
| Change in fair value of term notes | 149,885 | — | 315,791 | — | ||||||||||||
| Change in fair value of convertible bridge notes | (16,282 | ) | — | (37,996 | ) | — | ||||||||||
| Yorkville prepayment premium expense | — | 80,760 | — | 80,760 | ||||||||||||
| Loss on Yorkville SEPA advances | 362,613 | — | 747,137 | — | ||||||||||||
| Other expenses, net | 1,335,377 | 64,145 | 1,210,846 | 60,027 | ||||||||||||
| Total other expenses, net | 3,319,111 | 576,398 | 1,982,364 | 1,465,202 | ||||||||||||
| Loss before income taxes | (8,024,725 | ) | (3,948,704 | ) | (11,594,673 | ) | (8,239,768 | ) | ||||||||
| Income tax expense (benefit) | (230,969 | ) | 6,624 | (157,438 | ) | 5,691 | ||||||||||
| Net loss | $ | (7,793,756 | ) | $ | (3,955,328 | ) | $ | (11,437,235 | ) | $ | (8,245,459 | ) | ||||
| Net loss per share | ||||||||||||||||
| Basic and diluted | $ | (4.08 | ) | $ | (14.09 | ) | $ | (7.24 | ) | $ | (30.43 | ) | ||||
| Weighted average common shares outstanding | ||||||||||||||||
| Basic and diluted | 1,911,276 | 280,675 | 1,578,814 | 270,940 | ||||||||||||
| BANZAI INTERNATIONAL, INC. Unaudited Condensed Consolidated Statements of Cash Flows | ||||||||
| For the Six Months Ended June 30, | ||||||||
| 2025 | 2024 | |||||||
| Cash flows from operating activities: | ||||||||
| Net loss | $ | (11,437,235 | ) | $ | (8,245,459 | ) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Depreciation and amortization expense | 547,237 | 2,825 | ||||||
| Provision for credit losses on accounts receivable | 49,898 | (2,191 | ) | |||||
| Non-cash share issuance for marketing expenses | — | 175,334 | ||||||
| Non-cash shares issued for consulting expenses | 632,500 | — | ||||||
| Non-cash settlement of GEM commitment fee | — | 200,000 | ||||||
| Discount at issuance on notes carried at fair value | 578,000 | — | ||||||
| Non-cash share issuance for Yorkville redemption premium | — | 80,760 | ||||||
| Non-cash interest expense | — | 596,693 | ||||||
| Non-cash interest expense - related party | 658,172 | 175,517 | ||||||
| Amortization of debt discount and issuance costs | — | 68,459 | ||||||
| Amortization of debt discount and issuance costs - related party | (1,740 | ) | 787,470 | |||||
| Amortization of operating lease right-of-use assets | 11,464 | 87,579 | ||||||
| Stock based compensation expense | 1,092,690 | 245,488 | ||||||
| Gain on extinguishment of liability | (4,488,627 | ) | (527,980 | ) | ||||
| Loss on debt issuance | 443,000 | 171,000 | ||||||
| Loss on Private Placement Issuance | 837,000 | — | ||||||
| Loss on extinguishment of term notes | 1,769,895 | — | ||||||
| Change in fair value of warrant liability | (12,000 | ) | (562,000 | ) | ||||
| Change in fair value of warrant liability - related party | 2,300 | (345,000 | ) | |||||
| Change in fair value of bifurcated embedded derivative liabilities - related party | 62,000 | — | ||||||
| Change in fair value of convertible promissory notes | 238,000 | 578,000 | ||||||
| Change in fair value of term notes | 315,791 | — | ||||||
| Change in fair value of convertible bridge notes | (37,996 | ) | — | |||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable | 76,941 | 81,079 | ||||||
| Prepaid expenses and other current assets | (113,839 | ) | (180,343 | ) | ||||
| Other assets | (2,830 | ) | — | |||||
| Accounts payable | (199,431 | ) | 2,989,940 | |||||
| Deferred revenue | (286,746 | ) | 108,142 | |||||
| Accrued expenses | 162,104 | (123,399 | ) | |||||
| Operating lease liabilities | (11,041 | ) | (152,335 | ) | ||||
| Earnout liability | 448,476 | (22,274 | ) | |||||
| Deferred revenue - long-term | (1,918 | ) | — | |||||
| Deferred tax liability | (354,791 | ) | — | |||||
| Net cash used in operating activities | (9,022,726 | ) | (3,812,695 | ) | ||||
| Cash flows from investing activities: | ||||||||
| Cash paid in acquisition of Vidello, net of cash acquired | (2,677,480 | ) | — | |||||
| Net cash used in investing activities | (2,677,480 | ) | — | |||||
| Cash flows from financing activities: | ||||||||
| Payment of GEM commitment fee promissory note | (215,057 | ) | (1,200,000 | ) | ||||
| Repayment of convertible notes (Yorkville) | (3,640,000 | ) | (750,000 | ) | ||||
| Proceeds from term notes, net of issuance costs | 4,250,000 | — | ||||||
| Repayment of term notes | (5,932,690 | ) | — | |||||
| Partial repayment of convertible notes - related party | (870,190 | ) | — | |||||
| Proceeds from Yorkville redemption premium | — | 35,040 | ||||||
| Proceeds from issuance of convertible notes, net of issuance costs | 5,302,000 | 2,250,000 | ||||||
| Proceeds received for exercise of Pre-Funded warrants | — | 866 | ||||||
| Proceeds from issuance of shares to Yorkville under the SEPA | 13,592,753 | — | ||||||
| Proceeds from shares issued to Verista | 49,800 | — | ||||||
| Proceeds from issuance of common stock and pre-funded warrants under private placement | 329,996 | — | ||||||
| Proceeds from issuance of common stock | — | 1,854,818 | ||||||
| Net cash provided by financing activities | 12,866,612 | 2,190,724 | ||||||
| Net increase (decrease) in cash | 1,166,406 | (1,621,971 | ) | |||||
| Cash at beginning of period | 1,087,497 | 2,093,718 | ||||||
| Cash at end of period | $ | 2,253,903 | $ | 471,747 | ||||
FAQ
What was Banzai's (BNZI) revenue growth in Q2 2025?
How much did Banzai's (BNZI) net loss increase in Q2 2025?
What is Banzai's (BNZI) current Annual Recurring Revenue (ARR)?
How much debt financing did Banzai (BNZI) secure in Q2 2025?
What was Banzai's (BNZI) gross margin in Q2 2025?
