Segment Reporting (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2025

Dec. 31, 2024

Segment Reporting [Abstract]

Summary of Information About Reported Segments

The tables below present information about reported segments for the three and six months ending June 30, 2025:

Three months ended June 30, 2025
		Banzai Operating				OpenReel				Vidello				Total Consolidated
Revenue		$	1,146,546			$	1,386,938			$	728,766			$	3,262,250
Cost of revenue			368,473				77,694				108,348				554,515
Gross profit			778,073				1,309,244				620,418				2,707,735

Expenses
People			1,666,047				40				-				1,666,087
Marketing and advertising			454,754				18,377				103,059				576,190
Technology			254,213				551,381				27,377				832,971
Other segment expenses1			1,027,031				26,906				73,022				1,126,959
Total expenses			3,402,045				596,704				203,458				4,202,207
Adjusted EBITDA			(2,623,972	)			712,540				416,960				(1,494,472	)
Transaction, PubCo. Expenses and Stock-based compensation			2,891,939				18,657				—				2,910,596
EBITDA		$	(5,515,911	)		$	693,883			$	416,960			$	(4,405,068	)

Six months ended June 30, 2025
		Banzai Operating				OpenReel				Vidello				Total Consolidated
Revenue		$	2,306,292			$	2,828,481			$	1,506,560			$	6,641,333
Cost of revenue			745,071				152,502				262,941				1,160,514
Gross profit			1,561,221				2,675,979				1,243,619				5,480,819

Expenses
People			3,869,793				89,888				-				3,959,681
Marketing and advertising			1,249,850				57,494				278,351				1,585,695
Technology			530,621				1,070,261				51,573				1,652,455
Other segment expenses1			1,696,159				47,034				262,536				2,005,729
Total expenses			7,346,423				1,264,677				592,460				9,203,560
Adjusted EBITDA			(5,785,202	)			1,411,302				651,159				(3,722,741	)
Transaction, PubCo. Expenses and Stock-based compensation			5,021,849				320,482				—				5,342,331
EBITDA		$	(10,807,051	)		$	1,090,820			$	651,159			$	(9,065,072	)

¹

Other segment expenses for each reportable segment includes travel and entertainment expenses, professional expenses other than those included in transaction and PubCo. expenses, insurance expenses, and expenses related to licenses.

The tables below present information about reported segments for the three and six months ending June 30, 2024:

		Banzai Operating				OpenReel1				Vidello¹				Total Consolidated
Three months ended June 30, 2024
		Banzai Operating				OpenReel1				Vidello1				Total Consolidated
Revenue		$	1,068,197			$	—			$	—			$	1,068,197
Cost of revenue			330,008				—				—				330,008
Gross profit			738,189				—				—				738,189

Expenses
People			1,323,758				—				—				1,323,758
Marketing and advertising			561,008				—				—				561,008
Technology			221,638				—				—				221,638
Other segment expenses2			114,003				—				—				114,003
Total expenses			2,220,407				—				—				2,220,407
Adjusted EBITDA			(1,482,218	)			—				—				(1,482,218	)
Transaction, PubCo. Expenses and Stock-based compensation			1,888,827				—				—				1,888,827
EBITDA		$	(3,371,045	)		$	—			$	—			$	(3,371,045	)

		Banzai Operating				OpenReel1				Vidello¹				Total Consolidated
Six months ended June 30, 2024
		Banzai Operating				OpenReel1				Vidello1				Total Consolidated
Revenue		$	2,147,669			$	—			$	—			$	2,147,669
Cost of revenue			711,388				—				—				711,388
Gross profit			1,436,281				—				—				1,436,281

Expenses
People			2,576,425				—				—				2,576,425
Marketing and advertising			929,746				—				—				929,746
Technology			430,425				—				—				430,425
Other segment expenses2			991,631				—				—				991,631
Total expenses			4,928,227				—				—				4,928,227
Adjusted EBITDA			(3,491,946	)			—				—				(3,491,946	)
Transaction, PubCo. Expenses and Stock-based compensation			3,279,795				—				—				3,279,795
EBITDA		$	(6,771,741	)		$	—			$	—			$	(6,771,741	)

¹

The OpenReel acquisition occurred on December 18, 2024 and therefore is presented at $0 for comparative purposes. The Vidello acquisition occurred on January 31, 2025 (refer to Note 4) and therefore is presented at $0 for comparative purposes.

²

Other segment expenses for each reportable segment includes travel and entertainment expenses, professional expenses other than those included in transaction and PubCo. expenses, the SEPA commitment fee expense and deferred fee expense, the GEM warrant expense, and the GEM commitment fee expense.

The table below presents information about reported segments for the year ending December 31, 2024:

2024
		Banzai Operating				OpenReel				Total Consolidated
Revenue		$	4,305,429			$	222,450			$	4,527,879
Cost of revenue			1,407,564				14,978				1,422,542
Gross profit			2,897,865				207,472				3,105,337

Expenses
People			6,209,488				17,642				6,227,130
Marketing and advertising			1,587,085				5,020				1,592,105
Technology			861,775				112,429				974,204
Other segment expenses1			811,519				6,856				818,375
Total expenses			9,469,867				141,947				9,611,814
Adjusted EBITDA			(6,572,002	)			65,525				(6,506,477	)
Transaction, PubCo. Expenses and Stock-based compensation			6,912,309				—				6,912,309
EBITDA		$	(13,484,311	)		$	65,525			$	(13,418,786	)

¹

Other segment expenses for each reportable segment includes travel and entertainment expenses, professional expenses other than those included in transaction and PubCo. expenses, insurance expenses, and expenses related to licenses.

The table below presents information about reported segments for the year ending December 31, 2023:

2023
		Banzai Operating				OpenReel1				Total Consolidated
Revenue		$	4,561,300			$	—			$	4,561,300
Cost of revenue			1,444,618				—				1,444,618
Gross profit			3,116,682				—				3,116,682

Expenses
People			5,809,973				—				5,809,973
Marketing and advertising			941,737				—				941,737
Technology			628,998				—				628,998
Other segment expenses2			7,679,506				—				7,679,506
Total expenses			15,060,214				—				15,060,214
Adjusted EBITDA			(11,943,532	)			—				(11,943,532	)
Transaction, PubCo. Expenses and Stock-based compensation			6,118,859				—				6,118,859
EBITDA		$	(18,062,391	)		$	—			$	(18,062,391	)

¹

The OpenReel acquisition occurred on December 18, 2024 (refer to Note 5) and therefore is presented at $0 for comparative purposes.

²

Other segment expenses for each reportable segment includes travel and entertainment expenses, professional expenses other than those included in transaction and PubCo. expenses, SEPA commitment fee and deferred fee expense, GEM warrant expense, and GEM commitment fee expense.

Summary of Reconciliation Between Reportable Segment Adjusted EBITDA to Consolidated Net Loss Before Income Taxes

A reconciliation between EBITDA by reportable segment to consolidated net loss before income taxes for the three months ended June 30, 2025, and 2024, is as follows:

		June 30, 2025				June 30, 2024
EBITDA by segment
Banzai Operating Co.		$	(5,515,911	)			(3,371,045	)
OpenReel			693,883				—
Vidello			416,960				—
Total			(4,405,068	)			(3,371,045	)

Reconciliation to loss before income taxes:
Changes in fair value of financial instruments			223,503				(350,000	)
Interest income
Interest expense			—				396,019
Interest expense – related party			536,639				385,474
Gain (loss) on extinguishment of liabilities, net			(145,221	)			—
Loss on debt issuance			169,200				—
Loss on Private Placement Issuance			1,190,000				—
GEM settlement fee expense			—				—
Loss on Yorkville SEPA advances			362,613				—
Yorkville prepayment premium expense			—				80,760
Loss on Yorkville SEPA advances			—				—
Depreciation and amortization			300,546				1,261
Other income, net			1,335,377				64,145
Loss before income taxes		$	(8,377,725	)		$	(3,948,704	)

A reconciliation between EBITDA by reportable segment to consolidated net loss before income taxes for the six months ended June 30, 2025, and 2024, is as follows:

		June 30, 2025				June 30, 2024
EBITDA by segment
Banzai Operating Co.		$	(10,807,051	)		$	(6,771,741	)
OpenReel			1,090,820				—
Vidello			651,159				—
Total			(9,065,072	)			(6,771,741	)
Adjusted EBIDTA by segment, Total			(9,065,072	)			(6,771,741	)

Reconciliation to loss before income taxes:
Changes in fair value of financial instruments			568,095				(329,000	)
Interest income			(2	)			(10	)
Interest expense			—				847,418
Interest expense – related party			895,020				962,987
Interest expense			895,020				962,987
Gain (loss) on extinguishment of liabilities, net			(2,718,732	)			(527,980	)
Loss on debt issuance			443,000				171,000
Loss on Private Placement Issuance			1,190,000				—
GEM settlement fee expense			—				200,000
Loss on Yorkville SEPA advances			747,137				—
Yorkville prepayment premium expense			—				80,760
Depreciation and amortization			547,237				2,825
Other income, net			1,210,846				60,027
Loss before income taxes		$	(11,947,673	)		$	(8,239,768	)

A reconciliation between reportable segment adjusted EBITDA to consolidated net loss before income taxes for the years ended December 31, 2024, and 2023, is as follows:

		December 31, 2024				December 31, 2023
EBITDA by segment
Banzai Operating Co.		$	(13,484,311	)		$	(18,062,391	)
OpenReel			65,525				—
Total			(13,418,786	)			(18,062,391	)

Reconciliation to loss before income taxes:
Changes in fair value of financial instruments			(478,288	)			(9,154,141	)
Interest income			(10	)			(813	)
Interest expense			—				1,068,447
Interest expense – related party			3,047,101				4,486,027
Interest expense			3,047,101				4,486,027
Gain (loss) on extinguishment of liabilities, net			390,801				—
Loss on conversion of liabilities			11,338,284				—
Loss on debt issuance			653,208				—
GEM settlement fee expense			200,000				—
Yorkville prepayment premium expense			80,760				—
Goodwill impairment			2,725,460				—
Depreciation and amortization			24,179				7,160
Other			113,108				(62,809	)
Loss before income taxes		$	(31,513,389	)		$	(14,406,262	)

Summary of Company's Revenue Generated by Saas Product

The following table presents the Company’s percentage of revenue generated by SaaS product for the three months ended June 30, 2025, and 2024:

		Three Months Ended June 30,				Three Months Ended June 30,				Six Months Ended June 30,				Six Months Ended June 30,
Revenue %		2025				2024				2025				2024
Reach			2.7	%			3.4	%			1.7	%			2.0	%
Demio			32.4	%			96.1	%			27.0	%			97.4	%
OpenReel			42.5	%			0.0	%			35.8	%			0.0	%
Vidello			22.4	%			0.0	%			35.5	%			0.0	%
Other			0.0	%			0.5	%			0.0	%			0.6	%
Total			100.0	%			100.0	%			100.0	%			100.0	%

The following table presents the Company’s revenue generated by SaaS product for the years ended December 31, 2024, and 2023:

		Year Ended December 31,				Year Ended December 31,
Revenue %		2024				2023
Reach			3.8	%			4.5	%
Demio			91.0	%			94.9	%
Other1			5.2	%			0.6	%
Total			100.0	%			100.0	%
Percentage			100.0	%			100.0	%

¹

Other includes Boost sales for the years ended December 31, 2024, and 2023 and OpenReel product sales from acquisition date (refer to Note 5) to December 31, 2024.