Banzai International (NASDAQ: BNZI) Reports Strong Q3 2024 Financial Results

Bainbridge Island, Washington, November 7, 2024 – Banzai International, Inc. (NASDAQ: BNZI) unveiled its preliminary financial outcomes for the third quarter ending September 30, 2024, demonstrating substantial improvements. These results set an optimistic tone for the company, indicating progress against its annual goals.

The preliminary unaudited Adjusted Net Loss for Q3 2024 stood at approximately ($0.9) million, showcasing a significant $3.6 million enhancement from the prior quarter. This improvement translates to an annualized adjusted net income increase of $14.5 million, reflecting the company’s commitment to achieving profitability.

In addition, Banzai International reported noteworthy achievements in other key areas for Q3 2024. Net Revenue Retention (NRR) reached a peak, annual recurring revenue (ARR) showed an uptick to around $4.4 million, indicating a 31% annualized ARR growth rate, and adjusted EBITDA saw an enhancement to approximately ($1.4) million. The company had an all-time high cash balance of roughly $4.2 million as of September 30, 2024.

Joe Davy, the Founder and CEO of Banzai, expressed satisfaction with the results, highlighting the record NRR and robust improvements in ARR and adjusted Net Income over the previous quarter. He attributed these positive outcomes to the company’s strategic initiatives to bolster net income while sustaining growth prospects.

To discuss these results further, Banzai International is set to host a conference call on Thursday, November 14, 2024, at 5:30 p.m. Eastern Time. During this call, management will elaborate on the financial highlights and the strategic direction of the company. Interested parties can access the call using the provided details.

Banzai International, a marketing technology firm, remains focused on offering vital marketing and sales solutions to businesses of all sizes. The company’s commitment to helping customers achieve their goals underpins its mission, guiding its efforts towards effective customer engagement and measurable outcomes.

For more information on Banzai International and its investor relations, please visit their official website. The company encourages stakeholders to stay informed about their progress and future prospects.

Press Contact:
Rachel Meyrowitz
Director, Demand Generation, Banzai
[email protected]

Investor Relations:
Chris Tyson
Executive Vice President
MZ Group – MZ North America
949-491-8235
[email protected]

We will keep you updated on any further developments as they arise.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Banzai International’s 8K filing here.

Banzai International Company Profile

7GC & Co Holdings Inc does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. The company intends to identify business opportunities in the field of technology.