$BNZI
Banzai International Inc

2024 Q2 Form 10-Q Financial Statement

#000095017024096912 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q2
Revenue $1.068M $0.00
YoY Change
Cost Of Revenue $330.0K $379.3K
YoY Change -12.99%
Gross Profit $738.2K $814.0K
YoY Change -9.32%
Gross Profit Margin 69.11%
Selling, General & Admin $940.9K
YoY Change 214.96%
% of Gross Profit 115.59%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.261K $1.621K
YoY Change -22.21%
% of Gross Profit 0.17% 0.2%
Operating Expenses $4.320M $1.314M
YoY Change 228.88% 339.72%
Operating Profit -$3.582M -$1.314M
YoY Change 172.68% 339.71%
Interest Expense $672.7K
YoY Change -78.7%
% of Operating Profit
Other Income/Expense, Net -$576.4K $3.734K
YoY Change -15536.48%
Pretax Income -$4.158M -$637.2K
YoY Change 552.59% -122.29%
Income Tax $6.624K $96.84K
% Of Pretax Income
Net Earnings -$4.165M -$734.1K
YoY Change 467.4% -125.77%
Net Earnings / Revenue -389.92%
Basic Earnings Per Share -$0.15 -$0.54
Diluted Earnings Per Share -$0.15 -$0.07
COMMON SHARES
Basic Shares Outstanding 27.09M 6.460M
Diluted Shares Outstanding 27.09M 6.460M

Balance Sheet

Concept 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $592.6K
YoY Change 150.94%
Cash & Equivalents $471.7K $592.6K
Short-Term Investments
Other Short-Term Assets $10.72K $44.25K
YoY Change -75.77% -73.77%
Inventory
Prepaid Expenses $44.25K
Receivables $26.16K $109.5K
Other Receivables
Total Short-Term Assets $1.579M $636.8K
YoY Change 147.92% 57.3%
LONG-TERM ASSETS
Property, Plant & Equipment $1.819K
YoY Change
Goodwill $2.172M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $53.64M
YoY Change -76.72%
Total Long-Term Assets $2.258M $53.64M
YoY Change -95.79% -76.72%
TOTAL ASSETS
Total Short-Term Assets $1.579M $636.8K
Total Long-Term Assets $2.258M $53.64M
Total Assets $3.837M $54.27M
YoY Change -92.93% -76.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.430M $1.629M
YoY Change 479.0% 365.62%
Accrued Expenses $2.682M
YoY Change 174.26%
Deferred Revenue
YoY Change
Short-Term Debt $2.300M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $35.61M $25.69M
YoY Change 38.6% 1458.81%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $75.00K $9.747M
YoY Change -99.23% 0.0%
Total Long-Term Liabilities $75.00K $9.747M
YoY Change -99.23% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $35.61M $25.69M
Total Long-Term Liabilities $75.00K $9.747M
Total Liabilities $35.69M $35.44M
YoY Change 0.7% 211.01%
SHAREHOLDERS EQUITY
Retained Earnings -$55.40M -$16.37M
YoY Change 238.42% 54.1%
Common Stock $3.695K $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$31.85M -$16.37M
YoY Change
Total Liabilities & Shareholders Equity $3.837M $54.27M
YoY Change -92.93% -76.48%

Cashflow Statement

Concept 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$4.165M -$734.1K
YoY Change 467.4% -125.77%
Depreciation, Depletion And Amortization $1.261K $1.621K
YoY Change -22.21%
Cash From Operating Activities -$746.3K
YoY Change 207.91%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$488.8K
YoY Change
Cash From Investing Activities -$488.8K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.023M
YoY Change
NET CHANGE
Cash From Operating Activities -746.3K
Cash From Investing Activities -488.8K
Cash From Financing Activities 1.023M
Net Change In Cash -212.6K
YoY Change -12.29%
FREE CASH FLOW
Cash From Operating Activities -$746.3K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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dei Entity Registrant Name
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Banzai International, Inc.
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DE
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435 Ericksen Ave
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Suite 250
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dei Security12b Title
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Class A common stock, par value $0.0001 per share
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NonCashShareIssuanceForYorkvilleRedemptionPremium
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us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
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us-gaap Operating Lease Right Of Use Asset Amortization Expense
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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GainsLossesOnExtinguishmentOfDebt
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bnzi Gains Losses On Debt Issuance
GainsLossesOnDebtIssuance
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bnzi Gains Losses On Debt Issuance
GainsLossesOnDebtIssuance
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bnzi Change In Fair Value Of Convertible Promissory Notes
ChangeInFairValueOfConvertiblePromissoryNotes
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bnzi Change In Fair Value Of Convertible Promissory Notes
ChangeInFairValueOfConvertiblePromissoryNotes
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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bnzi Deferred Offering Costs Operating Activities
DeferredOfferingCostsOperatingActivities
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bnzi Deferred Offering Costs Operating Activities
DeferredOfferingCostsOperatingActivities
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
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us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
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IncreaseDecreaseInAccruedLiabilities
-123399
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-336332
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-152335
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-138804
bnzi Increase Decrease In Earnout Liability
IncreaseDecreaseInEarnoutLiability
-22274
bnzi Increase Decrease In Earnout Liability
IncreaseDecreaseInEarnoutLiability
-200000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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bnzi Payment Of Gem Commitment Fee
PaymentOfGemCommitmentFee
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bnzi Payment Of Gem Commitment Fee
PaymentOfGemCommitmentFee
0
bnzi Proceeds From Yorkville Redemption Premium
ProceedsFromYorkvilleRedemptionPremium
35040
bnzi Proceeds From Yorkville Redemption Premium
ProceedsFromYorkvilleRedemptionPremium
0
bnzi Proceeds Received For Exercise Of Pre Funded Warrants
ProceedsReceivedForExerciseOfPreFundedWarrants
866
bnzi Proceeds Received For Exercise Of Pre Funded Warrants
ProceedsReceivedForExerciseOfPreFundedWarrants
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us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3446362
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Interest Paid Net
InterestPaidNet
313813
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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bnzi Shares Issued To Roth For Advisory Fee Amount
SharesIssuedToRothForAdvisoryFeeAmount
278833
bnzi Shares Issued To Roth For Advisory Fee Amount
SharesIssuedToRothForAdvisoryFeeAmount
0
us-gaap Stock Issued1
StockIssued1
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us-gaap Stock Issued1
StockIssued1
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bnzi Shares Issued For Marketing Expenses
SharesIssuedForMarketingExpenses
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bnzi Shares Issued For Marketing Expenses
SharesIssuedForMarketingExpenses
0
bnzi Settlement Of Gem Commitment Fee
SettlementOfGemCommitmentFee
200000
bnzi Settlement Of Gem Commitment Fee
SettlementOfGemCommitmentFee
0
bnzi Shares Issued To Yorkville For Aggregate Commitment Fee
SharesIssuedToYorkvilleForAggregateCommitmentFee
500000
bnzi Shares Issued To Yorkville For Aggregate Commitment Fee
SharesIssuedToYorkvilleForAggregateCommitmentFee
0
bnzi Shares Issued To Yorkville For Redemption Premium
SharesIssuedToYorkvilleForRedemptionPremium
115800
bnzi Shares Issued For Exercise Of Pre Funded Warrants
SharesIssuedForExerciseOfPreFundedWarrants
866
bnzi Issuance Of Convertible Promissory Note
IssuanceOfConvertiblePromissoryNote
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bnzi Issuance Of Convertible Promissory Note
IssuanceOfConvertiblePromissoryNote
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dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2015-09-30
CY2024Q2 us-gaap Cash
Cash
500000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4165108
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22223722
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22223722
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6456378
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.15
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.15
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.54
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EarningsPerShareDiluted
-0.54
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.39
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.39
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.12
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.12
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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29611115
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
670247
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
350000000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
75000000
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
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bnzi Payment Term
PaymentTerm
P30D
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1068197
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1193321
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2147669
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2370382
bnzi Accounts Receivable Contractual Term
AccountsReceivableContractualTerm
The Company receives payments from customers based upon agreed-upon contractual terms, typically within 30 days of invoicing the customer.
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
105049
CY2024Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
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CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
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CY2023Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
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CY2024Q2 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
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us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
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CY2023Q2 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
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us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
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CY2024Q2 us-gaap Capitalized Contract Cost Net Current
CapitalizedContractCostNetCurrent
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CY2023Q4 us-gaap Capitalized Contract Cost Net Current
CapitalizedContractCostNetCurrent
51472
CY2023Q4 us-gaap Capitalized Contract Cost Net Current
CapitalizedContractCostNetCurrent
51472
CY2024Q1 bnzi Commissions Incurred
CommissionsIncurred
31610
CY2024Q1 bnzi Deferred Commissions Recognized
DeferredCommissionsRecognized
44620
CY2024Q1 us-gaap Capitalized Contract Cost Net Current
CapitalizedContractCostNetCurrent
38462
CY2024Q2 bnzi Commissions Incurred
CommissionsIncurred
48316
CY2024Q2 bnzi Deferred Commissions Recognized
DeferredCommissionsRecognized
47634
CY2024Q2 us-gaap Capitalized Contract Cost Net Current
CapitalizedContractCostNetCurrent
39144
CY2022Q4 us-gaap Capitalized Contract Cost Net Current
CapitalizedContractCostNetCurrent
69737
CY2023Q1 bnzi Commissions Incurred
CommissionsIncurred
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CY2023Q1 bnzi Deferred Commissions Recognized
DeferredCommissionsRecognized
104289
CY2023Q1 us-gaap Capitalized Contract Cost Net Current
CapitalizedContractCostNetCurrent
54376
CY2023Q2 bnzi Commissions Incurred
CommissionsIncurred
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CY2023Q2 bnzi Deferred Commissions Recognized
DeferredCommissionsRecognized
75001
CY2023Q2 us-gaap Capitalized Contract Cost Net Current
CapitalizedContractCostNetCurrent
40152
CY2024Q2 bnzi Bifurcated Embedded Derivative Liabilities Current
BifurcatedEmbeddedDerivativeLiabilitiesCurrent
0
CY2023Q4 bnzi Bifurcated Embedded Derivative Liabilities Current
BifurcatedEmbeddedDerivativeLiabilitiesCurrent
0
CY2024Q2 bnzi Conversion Upon Simple Agreements For Future Equity
ConversionUponSimpleAgreementsForFutureEquity
0
CY2023Q4 bnzi Conversion Upon Simple Agreements For Future Equity
ConversionUponSimpleAgreementsForFutureEquity
0
CY2024Q2 bnzi Service Trade
ServiceTrade
302055
CY2023Q4 bnzi Service Trade
ServiceTrade
364384
CY2024Q2 us-gaap Prepaid Insurance
PrepaidInsurance
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CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
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CY2024Q2 us-gaap Prepaid Advertising
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CY2023Q4 us-gaap Prepaid Advertising
PrepaidAdvertising
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CY2024Q2 bnzi Prepaid Software Costs
PrepaidSoftwareCosts
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CY2023Q4 bnzi Prepaid Software Costs
PrepaidSoftwareCosts
29887
CY2024Q2 bnzi Prepaid Commissions
PrepaidCommissions
39144
CY2023Q4 bnzi Prepaid Commissions
PrepaidCommissions
51472
CY2024Q2 bnzi Prepaid Data License And Subscription Costs
PrepaidDataLicenseAndSubscriptionCosts
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CY2023Q4 bnzi Prepaid Data License And Subscription Costs
PrepaidDataLicenseAndSubscriptionCosts
53124
CY2024Q2 bnzi Prepaid Merchant Fees
PrepaidMerchantFees
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CY2023Q4 bnzi Prepaid Merchant Fees
PrepaidMerchantFees
26224
CY2024Q2 bnzi Prepaid Consulting Costs
PrepaidConsultingCosts
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CY2023Q4 bnzi Prepaid Consulting Costs
PrepaidConsultingCosts
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CY2024Q2 us-gaap Other Assets Current
OtherAssetsCurrent
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CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
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CY2024Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
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CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
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CY2024Q2 bnzi Accrued Accounting And Professional Services Costs
AccruedAccountingAndProfessionalServicesCosts
2458192
CY2023Q4 bnzi Accrued Accounting And Professional Services Costs
AccruedAccountingAndProfessionalServicesCosts
1511889
CY2024Q2 bnzi Accrued Subscription Costs
AccruedSubscriptionCosts
510549
CY2023Q4 bnzi Accrued Subscription Costs
AccruedSubscriptionCosts
22110
CY2024Q2 bnzi Sales Tax Payable Current
SalesTaxPayableCurrent
363883
CY2023Q4 bnzi Sales Tax Payable Current
SalesTaxPayableCurrent
314873
CY2024Q2 bnzi Excise Tax Payable Current
ExciseTaxPayableCurrent
223717
CY2023Q4 bnzi Excise Tax Payable Current
ExciseTaxPayableCurrent
223717
CY2024Q2 bnzi Accrued Legal Costs
AccruedLegalCosts
159417
CY2023Q4 bnzi Accrued Legal Costs
AccruedLegalCosts
2694439
CY2024Q2 bnzi Accrued Payroll And Benefit Costs
AccruedPayrollAndBenefitCosts
123335
CY2023Q4 bnzi Accrued Payroll And Benefit Costs
AccruedPayrollAndBenefitCosts
185504
CY2024Q2 us-gaap Deposit Liability Current
DepositLiabilityCurrent
52000
CY2023Q4 us-gaap Deposit Liability Current
DepositLiabilityCurrent
54102
CY2024Q2 bnzi Accrued Streaming Service Costs
AccruedStreamingServiceCosts
48218
CY2023Q4 bnzi Accrued Streaming Service Costs
AccruedStreamingServiceCosts
37765
CY2024Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
324717
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
149841
CY2024Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
4264028
CY2023Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
5194240
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
861496
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
887219
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1214096
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
930436
bnzi Contract With Customer Liability Billings
ContractWithCustomerLiabilityBillings
2255811
CY2023 bnzi Contract With Customer Liability Billings
ContractWithCustomerLiabilityBillings
4781924
bnzi Contract With Customer Liability Revenue Recognition Of Deferred Revenue Prior Year
ContractWithCustomerLiabilityRevenueRecognitionOfDeferredRevenuePriorYear
-861496
CY2023 bnzi Contract With Customer Liability Revenue Recognition Of Deferred Revenue Prior Year
ContractWithCustomerLiabilityRevenueRecognitionOfDeferredRevenuePriorYear
-930436
bnzi Contract With Customer Liability Revenue Recognition Of Deferred Revenue Current Year
ContractWithCustomerLiabilityRevenueRecognitionOfDeferredRevenueCurrentYear
-1286173
CY2023 bnzi Contract With Customer Liability Revenue Recognition Of Deferred Revenue Current Year
ContractWithCustomerLiabilityRevenueRecognitionOfDeferredRevenueCurrentYear
-3567828
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1322238
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1214096
CY2023Q4 bnzi Number Of Promissory Notes In Connection With Merger
NumberOfPromissoryNotesInConnectionWithMerger
2
bnzi Warrants Exercise Price Description
WarrantsExercisePriceDescription
The Public Warrants have an exercise price of $11.50 per share, subject to adjustments, and will expire five years from the Merger Closing Date. The exercise price and number of shares of Class A common stock issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a share dividend, or recapitalization, reorganization, merger or consolidation.
bnzi Contractual Term
ContractualTerm
P60D
bnzi Warrants Exercisable Description
WarrantsExercisableDescription
Once the Public Warrants become exercisable, the Company may redeem the outstanding Public Warrants:•in whole and not in part;•at a price of $0.01 per Warrant;•upon a minimum of 30 days' prior written notice of redemption (the "30-day redemption period"); and•if, and only if, the closing price per share of Class A Common Stock equals or exceeds $18.00 per share (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a Public Warrant as described under the heading “- Warrants—Public Stockholder Warrants—Anti-dilution Adjustments”) for any 20 trading days within a 30-trading day period ending three trading days before the Company sends the notice of redemption to the warrant holders.
CY2024Q2 bnzi Fair Value Of Warrants
FairValueOfWarrants
79000
CY2023Q4 bnzi Fair Value Of Warrants
FairValueOfWarrants
641000
CY2024Q2 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P0Y3M3D
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
46140
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
50440
CY2024Q2 us-gaap Sublease Income
SubleaseIncome
52542
CY2023Q2 us-gaap Sublease Income
SubleaseIncome
51082
CY2024Q2 us-gaap Lease Cost
LeaseCost
-6402
CY2023Q2 us-gaap Lease Cost
LeaseCost
-642
us-gaap Operating Lease Cost
OperatingLeaseCost
93384
us-gaap Operating Lease Cost
OperatingLeaseCost
101888
us-gaap Sublease Income
SubleaseIncome
105084
us-gaap Sublease Income
SubleaseIncome
102165
us-gaap Lease Cost
LeaseCost
-11700
us-gaap Lease Cost
LeaseCost
-277
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
87579
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
86320
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-152335
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-138804
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
46434
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
134013
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
81708
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
234043
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
81708
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
234043
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y3M3D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y9M3D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0683
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0676
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
82679
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
82679
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
971
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
81708
bnzi Addendum To Letter Agreements Description
AddendumToLetterAgreementsDescription
Pursuant to the Roth Addendum, in lieu of payment in cash of the full amount of any advisory fees or other fees or expenses, incurred in 2024, and owed under the Roth Engagement Agreements (collectively, the “Roth Fee”), the Company (i) issued to Roth 175,000 shares (the “Roth Shares”) of the Company’s Class A Common Stock on February 2, 2024, and (ii) on or before June 30, 2024, will pay to Roth an amount in cash equal to $300,000 or, if the Company determines that such payment should not be made in cash due to the Company’s cash position at such time, issue to Roth a number of shares of Class A Common Stock equal to $300,000 divided by the daily VWAP for the trading day immediately preceding June 30, 2024 (any such shares, the “Additional Roth Shares”). The Company registered the Roth Shares and 600,000 shares of Class A Common Stock (in addition to the Roth Shares) on a registration statement to cover any issuances of Additional Roth Shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
us-gaap Common Stock Voting Rights
CommonStockVotingRights
The Class A Common Stock and Class B Common Stock entitle their holders to one vote per share and ten votes per share, respectively, on each matter properly submitted to the stockholders entitled to vote thereon.
CY2024Q2 us-gaap Legal Fees
LegalFees
409000
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
75000000
CY2024Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
11.98
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.75
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.85
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.80
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.9903
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.042
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.045
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0346
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0431
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
748086
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.87
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y5M4D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
103662
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1398500
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.91
bnzi Share Based Compensation Arrangement By Share Based Payment Award Options Granted Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm
P9Y10M13D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
464130
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
4.78
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1682456
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.71
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y2M1D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1807
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
433767
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
4.96
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P8Y4M2D
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
1807
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.17
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
8.53
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
1262655
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
2575808
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y9M18D
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y11M19D
CY2024Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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