Banzai International (BNZI) Q4 2025 earnings summary

Executive summary

• Achieved full year 2025 revenue of $12.2 million, up 169% year-over-year, and Q4 2025 revenue of $2.8 million, up 116% from Q4 2024, driven by acquisitions and strong product performance.

• Gross margin expanded to 82% for FY2025, up 1,342 basis points year-over-year, with Q4 gross margin at 81.9%.

• Net loss improved to $(22.5) million for FY2025, a 29% improvement from FY2024, with Q4 net loss improving by $2.9 million.

• Customer base surpassed 150,000 across 90+ countries, including blue-chip clients and enterprises.

• Closed three acquisitions since December 2024, including Superblocks, OpenReel, and Vidello, with a proposed ConnectAndSell deal expected to more than double annualized revenue.

Financial highlights

• Q4 2025 revenue: $2.8 million (+116% YoY); FY2025 revenue: $12.2 million (+169% YoY).

• Q4 gross profit: $2.3 million (+148% YoY); FY2025 gross profit: $10 million (+221% YoY).

• Q4 net loss: $(5.0) million (36% improvement YoY); FY2025 net loss: $(22.5) million (29% improvement YoY).

• Adjusted EBITDA loss for FY2025: $(7.3) million (vs. $(6.5) million in FY2024); net cash used in operations: $15.7 million.

• Stockholders' equity increased by $10.8 million to $8.1 million as of December 31, 2025.

Outlook and guidance

• Proposed ConnectAndSell acquisition expected to increase annual revenue by ~$15 million and be EBITDA accretive in its first full year.

• Combined company revenue projected at ~$27 million pro forma, with gross margin expected to rise post-acquisition.

• Strategic priorities include strengthening the balance sheet, accelerating organic growth, investing in AI innovation, and expanding in healthcare and enterprise segments.

• Focus remains on expanding enterprise and mid-market customer relationships and transitioning CreateStudio to a SaaS model.

• Active pipeline of acquisition opportunities in key industries is maintained.