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 | A Message on Behalf of Banzai International, Inc. |  | With thousands of engaged customers and marketing tools that enable brands to grow effortlessly, Banzai International, Inc. (NASDAQ: BNZI) looks positioned for exponential growth ahead!
Banzai International, Inc. (NASDAQ: BNZI) is a leading marketing technology company that provides essential marketing and sales solutions. Customers represent various industries, such as software, technology, healthcare, and finance.
Banzai has added 1,255 Customers in 2024, including Cisco, Nextiva, Sprinklr, Globe Life Insurance, and LoanDepot. This includes 867 new customers and 388 reactivating customers, highlighting Banzai's strong organic growth and customer loyalty.
How is $BNZI standing out? - The company anticipates TRIPLING revenue with the acquisition of OpenReel. Banzai has recently signed a definitive agreement to acquire OpenReel, a digital video creation platform, in a stock deal valued at $19.6 million. OpenReel's platform enables companies to create high-quality branded video content efficiently, serving enterprise customers including Bristol Myers Squibb, Ingram Micro, and DXC Technology. The acquisition will grow the company's TTM revenue by 152% to $10.9M!
- Strategic business initiatives to improve net income. Banzai announced $13.5M annual net income boost through cost-cutting initiatives and debt restructuring. Strategic cost-saving moves, including a 27% staffing reduction, aim to enhance scalability and extend cash runway.
- Impressive Q3 2024 financial results. The company reported that annual recurring revenue for the third quarter soared to $4.4 million, representing a 7% sequential increase from Q2 2024. Net Revenue Retention (NRR) also reached a historic high in Q3 2024 while 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 represented an annualized improvement of $14.5 million. The cash position reached an all-time high of $4.2 million!
>> Discover why BNZI has BLUE-SKY growth potential |
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