AcquisitionsMay 15, 2026, 04:13 PM
Banzai to Acquire ConnectAndSell Assets; Q1 Revenue $2.7M, Net Loss $8.4M
AI Summary
Banzai International, Inc. reported financial results for Q1 2026, alongside announcing a non-binding Letter of Intent to acquire assets of ConnectAndSell, an AI-powered sales enablement platform. This acquisition is expected to increase Banzai's annual revenue and expand its AI platform capabilities. For the first quarter, the company reported revenue of $2.7 million, a gross profit of $2.2 million, and a net loss of $8.4 million. Despite increased losses, Banzai strengthened its balance sheet by reducing debt by $4.5 million and converting $3.8 million of debt to equity.
Key Highlights
- Signed a non-binding Letter of Intent to acquire assets of ConnectAndSell, expected to increase annual revenue and expand AI capabilities.
- Q1 2026 Revenue was $2.7 million, a 20.2% decrease year-over-year and 4% sequentially.
- Q1 2026 Gross Profit was $2.2 million, achieving a gross margin of 80.7%.
- Q1 2026 Net Loss was $8.4 million, compared to $3.6 million in Q1 2025.
- Q1 2026 Adjusted EBITDA Loss increased to $1.9 million.
- Reduced debt by $4.5 million in Q1 2026, with year-to-date debt reduction of $7.4 million.
- Stockholder's Equity remained at $8.1 million as of March 31, 2026.
- Customer base includes over 150,000 total customers as of March 31, 2026.
Price Impact
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