Banzai Announces Strategic Business Initiatives to Improve Net Income by up to $13.5 Million Annually
Banzai International, Inc. - Class A (BNZI)
Company Research
Source: GlobeNewswire
Plan Substantially Extends Cash Runway while Maintaining Growth Plan with Continued Investment in Software Platform and Marketing SEATTLE, Oct. 09, 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 a comprehensive initiative designed to significantly improve its Net Income while maintaining its growth outlook. The Company plans to accomplish this through a reduction of its annual operational expenses by up to $9.9 million by March 31, 2025, along with a reduction in other expenses by up to $3.6 million. Overall improvement in Net Income is expected to be approximately $13.5 million annually when fully implemented. The strategic initiative includes a broad range of measures including strategic workforce adjustments, operational consolidation, and various other cost-saving actions. These measures are aimed at increas
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BNZI
News
- Banzai Signs Acquisition of Vidello, Growing TTM Revenue 59% to $17.3M and Adding $2.3M in EBITDAGlobeNewswire
- Banzai Completes Acquisition of OpenReel, Expects to Exceed $10.0 Million 2024 Revenue GuidanceGlobeNewswire
- Banzai Appoints Nancy Norton as Chief Legal OfficerGlobeNewswire
- Banzai Announces Definitive Agreement to Acquire OpenReel, Growing TTM Revenue 152% to $10.9MGlobeNewswire
- Banzai to Participate in the iAccess Alpha Virtual Best Ideas Winter Conference on December 10-11, 2024GlobeNewswire
BNZI
Sec Filings
- 12/23/24 - Form SCHEDULE
- 12/20/24 - Form 8-K
- 12/19/24 - Form 8-K
- BNZI's page on the SEC website