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Banzai Q3 2024 Preliminary Financial Results: Profitability in Sight Following $14.5M Annualized Adjusted Net Income Improvement; 31% Annualized ARR Growth Rate

GlobeNewswire LogoGlobeNewswire2w ago

Banzai Q3 2024 Preliminary Financial Results: Profitability in Sight Following $14.5M Annualized Adjusted Net Income Improvement; 31% Annualized ARR Growth Rate - GlobeNewswire

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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.

Toll-free replay number:1-844-512-2921International replay number:1-412-317-6671Replay ID:13749747   Adjusted Net Income (Loss) Adjusted Net Income (Loss) for the three months period quarter ended as of September 30, 2024 was ($0.89M), reflecting Net income of ($7.49M) before Change in fair value adjustment of common stocks warrant issued to Colpac and Alco of $6.6M and is approximately an increase in earnings of $3.63M compared to the adjusted net loss of ($4.52M) for the prior quarter three months period ended as of June 30, 2024 of which, reflecting a net loss of ($4.16M) before Change in fair value adjustments of warrant liability due to 3rd party and related party of $0.2M and $0.2M, respectively.

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.

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Article Details

Author / Journalist: Banzai International, Inc.

Category: Technology

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 13:31:00 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: globenewswire.com

Language: English

Article Length: 1010 words

Reading Time: 6 minutes read

Sentences: 33 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © GlobeNewswire

News ID: 23461383

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Main Topics: Technology

Official Website: globenewswire.com

Update Frequency: 1 posts per day

Year Established: 1998

Headquarters: China

News Last Updated: 18 hours ago

Coverage Areas: China

Ownership: Independent Company

Publication Timezone: GMT +8:00

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News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #116

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