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 from 68.6% in FY2024, 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 36%.

• Customer base surpassed 150,000, including blue-chip clients across healthcare, technology, and financial services in over 90 countries.

• Strategic acquisitions, including Superblocks and the proposed ConnectAndSell deal, are expected to more than double annualized revenue and enhance platform capabilities.

Financial highlights

• Q4 2025 revenue: $2.8 million, up 116% year-over-year; full year 2025 revenue: $12.2 million, up 169%.

• Q4 gross profit: $2.3 million, up 148% year-over-year; full year gross profit: $10 million, up 221%.

• Gross margin for 2025: 82%, up from 68.6% in 2024.

• Q4 net loss: $5 million, improved from $7.9 million year-over-year; full year net loss: $22.5 million, improved from $31.5 million.

• Adjusted EBITDA loss for 2025: $7.3 million, slightly higher than $6.5 million in 2024.

• Cash at year-end: $0.3 million, with $1.3 million raised post-year-end via ATM agreement.

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

Outlook and guidance

• Expectation to more than double annualized revenue to over $27 million upon closing the ConnectAndSell acquisition.

• Anticipate ConnectAndSell to be EBITDA accretive in its first full year, with potential for $2–4 million in EBITDA contribution.

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

• Continued focus on transitioning CreateStudio to a SaaS model and maintaining an active pipeline of acquisition opportunities.