Banzai Q3 2024 Preliminary Financial Results: Profitability in Sight Following $14.5M Annualized Adjusted Net Income Improvement; 31% Annualized ARR Growth Rate
Banzai International (NASDAQ: BNZI) reported preliminary Q3 2024 results showing significant financial improvements. The company achieved a $0.9 million Adjusted Net Loss, representing a $3.6 million improvement from Q2 2024's $4.5 million loss. Annual Recurring Revenue (ARR) reached $4.4 million, showing a 7% sequential increase and a 31% annualized growth rate. The company reported record-high Net Revenue Retention and cash position of $4.2 million. Adjusted EBITDA improved to ($1.4) million, a $0.5 million enhancement from Q2 2024, representing an annualized improvement of $1.8 million.
Banzai International (NASDAQ: BNZI) ha riportato risultati preliminari per il terzo trimestre del 2024, mostrando significativi miglioramenti finanziari. L'azienda ha registrato una perdita netta rettificata di 0,9 milioni di dollari, con un miglioramento di 3,6 milioni di dollari rispetto alla perdita di 4,5 milioni di dollari nel secondo trimestre del 2024. I Ricavi Ricorrenti Annuali (ARR) hanno raggiunto i 4,4 milioni di dollari, mostrando un aumento sequenziale del 7% e un tasso di crescita annualizzato del 31%. L'azienda ha riportato un tasso di ritenzione delle entrate nette ai massimi storici e una posizione liquida di 4,2 milioni di dollari. L'EBITDA rettificato è migliorato a (-1,4) milioni di dollari, un miglioramento di 0,5 milioni di dollari rispetto al secondo trimestre del 2024, rappresentando un miglioramento annualizzato di 1,8 milioni di dollari.
Banzai International (NASDAQ: BNZI) reportó resultados preliminares del tercer trimestre de 2024, mostrando mejoras financieras significativas. La compañía logró una pérdida neta ajustada de $0.9 millones, lo que representa una mejora de $3.6 millones respecto a la pérdida de $4.5 millones del segundo trimestre de 2024. Los Ingresos Anuales Recurridos (ARR) alcanzaron los $4.4 millones, mostrando un aumento secuencial del 7% y una tasa de crecimiento anualizada del 31%. La compañía reportó la más alta retención de ingresos netos y una posición de efectivo de $4.2 millones. El EBITDA ajustado mejoró a (-1.4) millones de dólares, un incremento de $0.5 millones desde el segundo trimestre de 2024, representando una mejora anualizada de $1.8 millones.
반자이 인터내셔널(NASDAQ: BNZI)는 2024년 3분기 preliminari 결과를 보고하며 상당한 재정 개선을 나타냈습니다. 회사는 조정된 순손실 90만 달러를 기록하여 2024년 2분기의 450만 달러 손실에 비해 360만 달러 개선되었습니다. 연간 반복 수익(ARR)은 440만 달러에 도달하여 7%의 순차적 증가와 31%의 연율 성장률을 보였습니다. 회사는 사상 최고 수준의 순수익 유지율과 420만 달러 현금 보유액을 보고했습니다. 조정된 EBITDA는 (-140만 달러)로 개선되어 2024년 2분기 대비 50만 달러의 향상을 보여주었으며, 연율적으로 180만 달러의 개선을 나타냈습니다.
Banzai International (NASDAQ: BNZI) a rapporté des résultats préliminaires pour le troisième trimestre 2024 montrant des améliorations financières significatives. L'entreprise a enregistré une perte nette ajustée de 0,9 million de dollars, représentant une amélioration de 3,6 millions de dollars par rapport à la perte de 4,5 millions de dollars du deuxième trimestre 2024. Les Revenus Annuels Récurrents (ARR) ont atteint 4,4 millions de dollars, montrant une augmentation séquentielle de 7% et un taux de croissance annualisé de 31%. L'entreprise a signalé un taux de fidélisation des revenus nets record et une position de trésorerie de 4,2 millions de dollars. L'EBITDA ajusté s'est amélioré à (-1,4) million de dollars, soit une amélioration de 0,5 million de dollars par rapport au deuxième trimestre 2024, représentant une amélioration annualisée de 1,8 million de dollars.
Banzai International (NASDAQ: BNZI) hat vorläufige Ergebnisse für das dritte Quartal 2024 veröffentlicht, die erhebliche finanzielle Verbesserungen zeigen. Das Unternehmen erzielte einen angepassten Nettoverlust von 0,9 Millionen US-Dollar, was eine Verbesserung von 3,6 Millionen US-Dollar im Vergleich zum Verlust von 4,5 Millionen US-Dollar im zweiten Quartal 2024 darstellt. Der jährlich wiederkehrende Umsatz (ARR) erreichte 4,4 Millionen US-Dollar, was einem sequenziellen Anstieg von 7% und einer annualisierten Wachstumsrate von 31% entspricht. Das Unternehmen berichtete von einer Rekord-Retention-Rate für Netto-Umsätze und einer Liquiditätsposition von 4,2 Millionen US-Dollar. Das angepasste EBITDA verbesserte sich auf (-1,4) Millionen US-Dollar, eine Verbesserung um 0,5 Millionen US-Dollar im Vergleich zum zweiten Quartal 2024, was eine annualisierte Verbesserung von 1,8 Millionen US-Dollar darstellt.
- Significant $3.6M sequential improvement in Adjusted Net Loss
- 31% annualized ARR growth rate
- Record-high Net Revenue Retention in Q3
- Cash position reached all-time high at $4.2M
- $0.5M sequential improvement in Adjusted EBITDA
- Still operating at a net loss of $0.9M in Q3
- Negative Adjusted EBITDA of $1.4M
Insights
The Q3 2024 preliminary results show significant financial improvements for Banzai. The Adjusted Net Loss narrowed to
The cash position reached an all-time high of
While still operating at a loss, the substantial quarter-over-quarter improvements in key metrics suggest the company is executing well on its path to profitability while maintaining growth momentum.
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 (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 preliminary select financial results for the third quarter ended September 30, 2024.
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 , a7% sequential increase from Q2 2024. This represents a31% 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.”
Third Quarter 2024 Results Conference Call
Banzai Founder & CEO Joe Davy and Interim CFO Alvin Yip 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, November 14, 2024 |
| Time: | 5:30 p.m. Eastern Time, 2:30 p.m. Pacific Time |
| Toll-free dial-in number: | 1-877-425-9470 |
| International dial-in number: | 1-201-389-0878 |
| Conference ID: | 13749747 |
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact MZ Group at 1-949-491-8235.
The conference call will be broadcast live and available for replay at https://viavid.webcasts.com/starthere.jsp?ei=1694251&tp_key=65eec38e9b and via the investor relations section of the Company's website here.
A replay of the webcast will be available after 9:30 p.m. Eastern Time through February 14, 2025.
| Toll-free replay number: | 1-844-512-2921 |
| International replay number: | 1-412-317-6671 |
| Replay ID: | 13749747 |
Adjusted Net Income (Loss)
Adjusted Net Income (Loss) for the three months period quarter ended as of September 30, 2024 was (
Adjusted EBITDA
For the three months ended September 30, 2024, Banzai’s Adjusted EBITDA was approximately
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
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
Rachel Meyrowitz
Director, Demand Generation, Banzai
media@banzai.io
FAQ
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