Banzai Q1 revenue down 8.3% YoY to $1.1M; net loss widens; debt restructuring with Yorkville

Banzai International, Inc.

ARR at March 2024 was $4.9M, up 14.2% from Q4 2023 and 5% YoY.
Revenue $1.1M (-8.3% YoY); net loss $4.5M vs $3.8M YoY.
Adjusted EBITDA loss widened to $1.5M from $0.6M; cash only $1.0M.
Agreed with Yorkville to repay $2M of $2.7M notes, obtaining 90-day standstill on conversions.
Targets Dec 2024 ARR of $8.1M-$10M, contingent on acquisitions of Cliently and Boast.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Banzai International, Inc. reported the first quarter ended March 31, 2024 results: revenue approximately $1,079 thousand, net income net losses of approximately $4.5 million.

Period: the first quarter ended March 31, 2024
Revenue: approximately $1,079 thousand
Net income: net losses of approximately $4.5 million
Result: reported results

Exact text from the filing

team evaluates its financial and operating results utilizing this non-GAAP measure. For the three months ended March 31, 2024, Banzai reported total revenue of approximately $1,079 thousand, representing a decrease of approximately $98 thousand, or approximately 8.3%, compared to the three months for the same period ended March 31, 2023. This decrease is primarily

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Banzai International, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-139915

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