Banzai (NASDAQ: BNZI) Q3 2024 Preliminary Financial Results: Profitability in Sight Following $14.5M Annualized Adjusted Net Income Improvement; 31% Annualized ARR Growth Rate

Management to Host Third Quarter 2024 Results Conference Call on Thursday, November 14, 2024 at 5:30 p.m. Eastern Time

SEATTLE, Nov. 07, 2024  — Banzai International, Inc. (NASDAQ: BNZI) (“Banzai” or the “Company”), a leading marketing technology company that provides essential marketing and sales solutions, today announced preliminary select financial results for the third quarter ended September 30, 2024.

Get our FREE Newsletter! Discover Stocks with +1,000% Upside Potential!
Join over 100,000 investors and business leaders worldwide. Discover the Next Super Stock before the rest of the crowd.
Your privacy is our priority. Your email address will never be sold or shared with anyone else.

Key Financial & Operational Highlights for the Third Quarter of 2024

  • Preliminary, unaudited Q3 2024 Adjusted Net Loss was approximately ($0.9) million, a $3.6 million sequential improvement from Q2 2024 Adjusted Net Loss of ($4.5) million. This represents an annualized improvement of $14.5 million.

  • Net Revenue Retention (NRR) reached a historic high in Q3 2024.

  • Preliminary, unaudited Q3 2024 Annual Recurring Revenue (ARR) of approximately $4.4 million, a 7% sequential increase from Q2 2024. This represents a 31% annualized ARR growth rate.

  • Preliminary, unaudited Adjusted EBITDA was approximately ($1.4) million, a $0.5 million sequential improvement from Q2 2024 EBITDA of ($1.8) million. This represents an annualized improvement of $1.8 million.

  • As of September 30, 2024, cash of approximately $4.2 million was at an all-time high.

“In the third quarter of 2024 we achieved preliminary, unaudited historic record NRR, and strong improvements from the second quarter in both ARR and adjusted Net Income,” said Joe Davy, Founder and CEO of Banzai. “We are making significant progress against our annualized goals through our recently launched comprehensive initiative designed to significantly improve Net Income while maintaining our growth outlook. We look forward to providing additional updates at our conference call and quarter financial results on November 14.”