Banzai International, Inc.

Listed Company

BNZIWCIK 0001826011NasdaqNon-AcceleratedSmaller ReportingServices-Prepackaged SoftwareDelawareFY ends Dec 31

Period

FY 2025

Revenue

$12.16M

Net Income

$-22.49M

Total Assets

$31.63M

Equity

$8.06M

Shares Out

10.55M

Op. Cash Flow

$-15.70M

Business

Banzai International, Inc. is a SaaS marketing-technology company that provides tools to help businesses market and sell more efficiently. Its platform includes products such as OpenReel, Demio, Boost, Reach, Curate and CreateStudio, covering video creation and hosting, webinar delivery, demand-generation and AI-driven newsletters, sold primarily via recurring subscription licenses. The company organizes around product families spanning demand generation, digital events/webinars, video production and email/newsletter solutions and grows through product development and acquisitions. It serves global B2B customers through self-service channels, direct sales, partners, affiliates and digital marketing.

Summary from filing dated 2025-04-15

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	12	5	5	5	—
Cost of revenue	2	1	1	2	—
Gross profit	10	3	3	3	—
General and administrative expenses	27	17	13	9	2
Depreciation and amortization expense	1	24,179	7,160	—	—
Total operating expenses	28	17	13	10	—
Operating loss	−18	−13	−10	−6	−3
GEM settlement fee expense	0	200,000	0	—	—
Interest income	−2,955	−10	−813	0	—
Gain on extinguishment of liabilities	−4	−680,762	0	56,653	—
Gain on release of Vidello revenue holdback	−973,000	0	—	—	—
Loss on debt issuance	444,000	653,208	0	—	—
Loss on private placement issuance	5	0	—	—	—
Loss on issuance of term notes	110,500	0	—	—	—
Loss on issuance of convertible bridge notes	152,826	0	—	—	—
Loss on extinguishment of debt, net	2	1	—	—	—
Change in fair value of convertible notes	−2	693,000	−34,000	—	—
Change in fair value of term notes	173,055	88,588	0	—	—
Change in fair value of convertible bridge notes	−46,253	−10,176	0	—	—
Yorkville prepayment premium expense	0	80,760	0	—	—
Loss on Yorkville SEPA advances	974,079	0	—	—	—
Vidello earnout expense	485,720	0	—	—	—
Failed acquisition costs	1	0	—	—	—
Goodwill impairment	0	3	0	—	—
Other (income) expense, net	−726,572	88,329	−62,985	−150,692	—
Total other expenses, net	4	18	5	9	—
Loss before income taxes	−22	−32	−14	−15	12
Income tax expense	60,617	0	0	0	—
Net loss	−22	−32	−14	−15	12
Deemed dividend - Series A and Series B warrant modification (net of tax)	0	−418,360	0	—	—
Net loss attributable to common shareholders	−22	−31	−14	—	—
Basic (per share)	−5.95	−69.75	−6	−2.4	—
Diluted (per share)	−5.95	−69.75	−6	−2.4	—
Basic (shares)	4	445,817	2	6	—
Diluted (shares)	4	445,817	2	6	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	259,205	1	2	1	711,652
Accounts receivable, net of allowance for credit losses of $41,341 and $24,210, respectively	709,203	936,321	105,049	68,416	74,727
Prepaid expenses and other current assets	445,089	643,674	741,155	333,507	—
Total current assets	1	3	3	1	975,845
Property and equipment, net	8,246	3,539	4,644	11,803	—
Intangible assets, net	8	4	0	—	—
Goodwill	22	19	2	2	2
Operating lease right-of-use assets	55,871	72,565	134,013	307,258	—
Deferred offering costs	121,788	0	—	—	—
Other assets	4,000	11,154	38,381	38,381	—
Total assets	32	26	5	5	231
Accounts payable	2	8	6	1	342,538
Accrued expenses and other current liabilities	4	4	5	745,373	—
Convertible notes, carried at fair value	2	0	—	—	—
Notes payable, carried at fair value	3	4	0	—	—
Private placement warrant liability	295,603	0	—	—	—
Earnout liability	990,673	14,850	59,399	289,099	—
Due to related party	0	167,118	67,118	0	—
Deferred revenue	4	4	1	930,436	—
Operating lease liabilities, current	22,823	22,731	234,043	284,963	—
Total current liabilities	22	28	37	29	2
Deferred revenue, non-current	93,726	117,643	0	—	—
Deferred tax liability	1	10,115	0	—	—
Operating lease liabilities, non-current	33,922	49,974	0	234,043	—
Total liabilities	24	28	37	30	21
Commitments and contingencies (Note 15)	—	—	—	—	—
Common stock, $0.0001 par value, 275,000,000 (250,000,000 Class A and 25,000,000 Class B) shares authorized and 10,546,333 (10,315,219 Class A and 231,114 Class B) and 819,516 (588,402 Class A and 231,114 Class B) shares issued and outstanding at December 31, 2025 and 2024, respectively	1,055	82	259	645	0
Preferred stock, $0.0001 par value, 75,000,000 shares authorized, 1 and 1 shares issued and outstanding at December 31, 2025 and 2024, respectively	—	0	0	0	0
Additional paid-in capital	109	76	15	8	0
Accumulated other comprehensive (loss) income	−85,377	0	—	—	—
Accumulated deficit	−101	−78	−47	−32	−20
Stockholders' equity (deficit)	8	−3	−32	−24	−16
Total liabilities and stockholders' equity (deficit)	32	26	5	5	231

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Provision for credit losses on accounts receivable	17,131	18,462	−102,112	92,619	—
Non-cash share issuance for marketing expenses	0	245,252	0	—	—
Non-cash shares issued for consulting expenses	974,261	0	—	—	—
Non-cash settlement of GEM commitment fee	0	200,000	2	—	—
Discount at issuance on notes carried at fair value	2	747,962	686,016	—	—
Non-cash share issuance for Yorkville redemption premium	0	80,760	0	—	—
Amortization of operating lease right-of-use assets	16,694	137,717	173,245	152,018	—
Stock based compensation expense	3	1	1	770,336	—
Gain on release of due to related party	−67,118	0	—	—	—
Loss on Private Placement Issuance	5	0	—	—	—
Change in fair value of convertible notes, carried at fair value	−2	693,000	—	—	—
Change in fair value of convertible promissory notes	0	0	−34,000	—	—
Accounts receivable	209,987	15,828	65,479	−86,308	—
Prepaid expenses and other current assets	198,585	551,645	−407,648	425,011	—
Other assets	7,154	27,227	0	52,591	—
Accounts payable	−381,632	1	5	660,844	325,557
Deferred revenue	−740,066	−6,315	283,660	−129,604	—
Accrued expenses	110,421	498,051	4	825,809	933,760
Operating lease liabilities	−15,960	−237,607	−284,963	−243,596	—
Earnout liability	587,784	−44,549	−229,700	−710,901	—
Deferred revenue - long-term	−23,917	10,573	0	—	—
Deferred tax liability	−256,310	10,115	0	—	—
Other long-term liabilities	0	−75,000	0	−37,837	—
Net cash used in operating activities	−16	−10	−2	−5	−1
Cash paid for acquisition of Vidello, net of cash acquired	−3	0	—	—	—
Cash paid for asset acquisition of Superblocks	−1,500	0	—	—	—
Cash acquired in acquisition of OpenReel	0	82,219	0	—	—
Net cash provided by (used in) investing activities	−3	82,219	0	−10,806	0
Payment of GEM commitment fee promissory note	−215,057	−1	—	—	—
Payment of Vidello transition holdback	−500,000	0	—	—	—
Proceeds from related party advance	0	100,000	—	—	—
Repayment of related party advance	−100,000	0	—	—	—
Proceeds from term notes, net of issuance costs	5	3	0	—	—
Repayment of term notes	−9	−2	0	—	—
Repayments of private placement notes	−1	0	—	—	—
Proceeds from Yorkville redemption premium	0	35,040	0	—	—
Proceeds from issuance of convertible notes, net of issuance costs	10	3	—	—	—
Proceeds received for exercise of Pre-Funded warrants	0	2,072	0	—	—
Proceeds from issuance of shares to Yorkville under the SEPA	19	880,943	—	—	—
Proceeds from shares issued to Verista	49,800	—	—	—	—
Payment of deferred offering costs - ATM	−238,330	0	—	—	—
Proceeds from issuance of common stock and pre-funded warrants under private placement	329,996	0	—	—	—
Proceeds from issuance of common stock and warrants	4	6	—	—	—
Net cash provided by financing activities	18	8	3	4	0
Effect of exchange rate changes on cash and cash equivalents	−76,216	0	—	—	—
Net decrease in cash	−828,292	−1	—	—	−1
Cash paid for interest	1	338,393	955,848	630,454	—
Cash paid for taxes	10,621	5,113	9,862	−4,875	—
Shares issued to Roth for advisory fee	0	578,833	0	—	—
Shares issued to GEM	0	784,943	—	—	—
Shares issued for marketing expenses	0	334,772	0	—	—
Shares issued to MZHCI for investor relations services	0	94,800	0	—	—
Shares issued for exercise of Pre-Funded warrants	0	2,072	0	—	—
Deemed dividend - Series A and Series B warrant modification	0	418,360	0	—	—
Shares issued to CP BF for debt restructuring	0	1	0	—	—
Shares issued to Alco for debt restructuring	0	1	0	—	—
Shares issued for Hudson consulting fee	974,261	166,501	—	—	—
Shares issued to Perkins Coie LLP for payment of outstanding debt	0	919,700	—	—	—
Settlement of GEM commitment fee	0	200,000	0	—	—
Consideration transferred for acquisition of Vidello	2	0	—	—	—
Assets acquired in acquisition of Vidello	8	0	—	—	—
Liabilities assumed in acquisition of Vidello	4	0	—	—	—
Consideration transferred for acquisition of OpenReel	0	21	0	—	—
Assets acquired in acquisition of OpenReel	0	24	—	—	—
Liabilities assumed in acquisition of OpenReel	0	4	—	—	—
Right-of-use assets obtained in exchange for lease obligations	0	76,269	0	762,603	—
Conversion of private placement convertible notes, carried at fair value	4	0	—	—	—
Shares issued for 1800 Diagonal Note conversions of debt	444,317	0	—	—	—
Shares issued to Yorkville of aggregate commitment fee	0	500,000	—	—	—

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