Banzai Gives Business Update Including End-of-Year 2023 ARR, Additional Executed LOI and End-of-Year 2024 ARR Target
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Insights
The announcement of Banzai International's Annual Recurring Revenue (ARR) for December 2023 at $4.6 million and its projected ARR for December 2024 between $8.1 and $10 million is a significant indicator of the company's growth trajectory. ARR is a crucial metric for assessing the health and potential scalability of a company, especially in the technology sector where Banzai operates. It suggests a strong, predictable revenue stream, which is highly valued by investors. The guidance provided for the next year's ARR shows confidence in the company's growth strategy and the potential impact of the acquisition on future earnings.
The non-binding LOI to acquire Mixed Analytics could be a strategic move to enhance Banzai's marketing technology (MarTech) suite. This acquisition is poised to provide Banzai with advanced data analytics capabilities, which can be a competitive advantage in the MarTech industry. The integration of Mixed Analytics' API Connector could potentially lead to increased efficiency in Banzai's data management and a broader offering to its clients, which might result in cross-selling opportunities and an expanded customer base. However, it is important to note that the deal is currently non-binding and there is no certainty until a definitive agreement is reached and regulatory approvals are obtained.
Banzai's targeted ARR for December 2024 suggests an ambitious growth plan. The acquisition of Mixed Analytics appears to be a calculated move to tap into the growing demand for data-driven marketing solutions. By incorporating Mixed Analytics' tools, Banzai can offer a more comprehensive service to its clients, potentially leading to increased customer retention and acquisition. The mention of notable clients such as HubSpot, Google and L’Oreal indicates that Mixed Analytics has a strong market presence, which Banzai could leverage to gain a foothold in new segments.
Furthermore, the integration of Mixed Analytics' API Connector into Banzai's suite of products could streamline the process of data importation for marketers, a value proposition that is likely to resonate with the target market. Given the increasing importance of data analytics in strategic decision-making, this acquisition could position Banzai as a more integral partner for businesses looking to enhance their marketing efforts. This could lead to an increase in market share and a stronger competitive position for Banzai within the MarTech industry.
An analysis of Banzai's ARR growth and acquisition strategy provides insight into broader economic trends within the technology sector. The move to acquire a data analytics firm reflects the growing emphasis on big data and analytics in business decision-making. Banzai's growth targets suggest optimism in the sector's expansion and in the company's ability to capture market share through strategic acquisitions. The company's focus on ARR as a performance metric underscores the shift towards subscription-based business models, which are becoming increasingly prevalent due to their ability to provide stable, recurring revenue.
However, it is essential to consider the economic context in which these projections are made. Factors such as market saturation, economic downturns, or shifts in consumer behavior could impact Banzai's ability to meet its ARR targets. The integration of a newly acquired company also presents challenges, including cultural alignment and the successful implementation of technology. These factors must be managed effectively to realize the projected growth and to avoid potential pitfalls that could affect the company's financial performance.
- ARR for December 2023 was
$4.6 million - Executed LOI to Acquire Mixed Analytics, a Data Analytics Solution
- Banzai Targets December 2024 ARR to be
$8.1 -$10 million
SEATTLE, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Banzai International, Inc. (NASDAQ: BNZI) (“Banzai” or the “Company”), a leading marketing technology company that provides essential marketing and sales solutions, today announced a business update that includes December 2023 Annual Recurring Revenue (“ARR”), the execution of a non-binding letter of intent (the “LOI”) to acquire Mixed Analytics as well as the Company’s target December 2024 ARR.
Banzai has estimated its December 2023 ARR at
“We are excited to report an uptick in ARR toward the end of last year and look forward to the growth ahead of us,” said Mark Musburger, CFO of Banzai. “While we will report our Full Year 2024 earnings after we complete the year, we believe the market will benefit from an update on an important performance measurement to help assess our business at this point and going forward.”
Acquisition of Mixed Analytics Would Further Strengthen Suite of Integrated MarTech Solutions
Banzai also announced today that is has signed a non-binding LOI to acquire Mixed Analytics, a data analytics solution that offers an API Connector, enabling users to turn Google Sheets into a data pipeline for direct API data importation from numerous sources like Facebook, YouTube, Instagram, Mailchimp and more. Mixed Analytics helps marketers solve the problem of consistent, flexible data integration to Google Sheets.
The profitable and growing company was founded in 2012 and serves customers from various industries including HubSpot, Google, eBay, Monday.com, L’Oreal and Coinbase. Banzai intends to integrate the capabilities of Mixed Analytics with other Banzai products as part of the Company’s acquisition and cross-selling strategy.
Ana Kravitz, Founder of Mixed Analytics, commented: "Mixed Analytics was built to make API data more accessible and easier to navigate. It allows marketers to pull marketing and sales data from thousands of applications into their spreadsheets so they can analyze their data and uncover insights in one place. I'm excited about the possibility of Mixed Analytics joining Banzai's portfolio. Their expertise in marketing technology and data-driven solutions makes it the perfect home for the future of Mixed Analytics."
End-of-Year 2024 Target
Banzai targets December 2024 ARR to be
The midpoint target, or
“We continue to believe that 2024 will be a breakout year for Banzai. We’ve signed over 150 new customers in January alone and have signed LOIs to acquire four mission-critical MarTech companies,” said Joe Davy, CEO and Founder of Banzai. “Additionally, we are seeing a robust pipeline for potential future acquisitions, as the trend for consolidation in our industry is gaining momentum.”
Annual recurring revenue refers to revenue, normalized on an annual basis, that Banzai expects to receive from its customers for providing them with products or services. The December 2024 ARR information provided above is based on Banzai’s current estimates of internal growth, the completion of the IGLeads, Cliently, Boast and Mixed Analytics acquisitions and those companies contributing ARR based on current levels and is not a guarantee of future performance. 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.
About Banzai
Banzai is a marketing technology company that provides essential marketing and sales solutions for businesses of all sizes. On a mission to help their customers achieve their mission, Banzai enables companies of all sizes to target, engage, and measure both new and existing customers more effectively. Banzai customers include Square, Hewlett Packard Enterprise, Thermo Fisher Scientific, Thinkific, Doodle and ActiveCampaign, among thousands of others. Learn more at www.banzai.io. For investors, please visit https://ir.banzai.io/
Forward-Looking Statements
Certain statements included in this press release are forward-looking statements within the meaning of “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “believe,” “may,” “will,” “estimate,” “target,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “propose,” “plan,” “project,” “forecast,” “predict,” “potential,” “seek,” “future,” “outlook,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to statements regarding growth in annualized recurring revenue for 2024, growth in Banzai’s business generally, Banzai’s proposed acquisitions and their completion and the potential success and financial contributions of those acquisitions, if completed, the pipeline for future acquisitions by Banzai, estimates and forecasts of, financial and performance metrics, including ARR, projections of market opportunity and market share, expectations and timing related to commercial product launches or success, ability to accelerate and otherwise be successful pursuing Banzai’s go-to-market strategy and capitalize on commercial opportunities . These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Banzai’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. These forward-looking statements are subject to a number of risks and uncertainties, including: the rate of ongoing customer acquisitions; the failure to enter into definitive agreements with, or complete the acquisition of, Mixed Analytics and other proposed acquisition targets; the failure to identify and enter into definitive agreements with, or complete the acquisition of, acquisition targets that the company is currently analyzing or may identify in the future; the failure to maintain Nasdaq listing of Banzai’s securities; changes in domestic and foreign business, market, financial, political and legal conditions; uncertainty of the projected financial information with respect to Banzai; Banzai’s ability to successfully and timely develop, sell and expand its technology and products, and otherwise implement its growth strategy; risks relating to Banzai’s operations and business, including information technology and cybersecurity risks, loss of customers and deterioration in relationships between Banzai and its employees; increased competition; potential disruption of current plans, operations and infrastructure of Banzai as a result of operating as a new public company; difficulties managing growth and expanding operations; the impact of geopolitical, macroeconomic and market conditions; the ability to successfully select, execute or integrate future acquisitions into the business, which could result in material adverse effects to operations and financial conditions; and those factors discussed in its Annual Report on Form 10-K and subsequent Quarterly Reports , the registration statement on Form S-4 declared effective on November 13, 2023, and the definitive proxy statement / prospectus contained therein, in each case, under the heading "Risk Factors," the registration statement on Form S-1 declared effective on February 14, 2024, and the definitive proxy statement / prospectus contained therein, in each case, under the heading "Risk Factors," and other documents of Banzai filed, or to be filed, with the Securities and Exchange Commission. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, forward-looking statements reflect Banzai’s expectations, plans or forecasts of future events and views as of the date of this press release. Banzai anticipates that subsequent events and developments will cause Banzai’s assessments to change. However, while Banzai may elect to update these forward-looking statements at some point in the future, Banzai specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Banzai’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Contacts:
Investors
Ralf Esper
Gateway Group
949-574-3860
bnzi@gateway-grp.com
Media
Raven Carpenter
BLASTmedia
banzai@blastmedia.com
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