Q4 2024 Banzai International Inc Earnings Call

Operator: Banzai Fourth Quarter and Full Year 2024 Financial Results and Business Update Conference Call. A question and answer session will follow the formal presentation. As a reminder, this conference call is being recorded.

Operator: Banzai Q4 and full year 2024 financial results and business update conference call. A question and answer session will follow the formal presentation. As a reminder, this conference call is being recorded. Before we begin the formal presentation, I would like to remind everyone that statements made on this call and webcast may include predictions, estimates, or other information that might be considered forward-looking. While these forward-looking statements represent our current judgment on what the future holds, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this presentation. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events.

Year 2024 financial results and business update conference call a question and answer session will follow the formal presentation. As a reminder, this conference call is being recorded.

Operator: Before we begin the formal presentation, I would like to remind everyone that statements made on this call and webcast may include predictions, estimates, or other information that might be considered forward-looking. While these forward-looking statements represent our current judgment on what the future holds, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements which reflect our opinions only as of the date of this presentation. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events.

Before we begin the formal presentation.

I'd like to remind everyone that statements made on this call and webcast may be it may include predictions estimates or other information that might be considered forward looking.

While these forward looking statements represent our current judgment on what the future holds they are subject to risks and uncertainties that could cause actual results to differ materially you are cautioned not to place undue reliance on these forward looking statements, which reflect our opinions only as of the date of this.

Presentation.

Please keep in mind that we are not.

Oh boy buggies hating ourselves to revise or publicly release the results of any revision to these forward looking statements in light of new information or future events.

Operator: Throughout today's discussion, we will attempt to present some important factors relating to our business that may affect our prediction.

Operator: Throughout today's discussion, we will attempt to present some important factors relating to our business that may affect our predictions. You should also review our most recent Form 10-K and Form 10-Q for more complete discussion of these factors and other risks, particularly under the heading Risk Factors. A press release detailing these results was issued this afternoon and is available in the investor relations section of our company's website, banzai.io. Your host today, Joe Davy, Chief Executive Officer, and Alvin Yip, Chief Financial Officer, will present unaudited results of operations for Q4 and full year ended 31 December 2024. At this time, I will turn the call over to Banzai Chief Executive Officer, Joe Davy.

Throughout today's discussion we will attempt to present some important factors relating to our business that may affect our predictions you should also review our most recent Form 10-K and Form 10-Q for more complete discussion of these factors and other risks.

Operator: You should also review our most recent Form 10-K and Form 10-Q for more complete discussion of these factors and other risks. particularly under the heading risk.

Particularly under the heading risk factors.

Operator: A press release detailing these results was issued this afternoon and is available in the Investor Relations section of our company's website, Banzai.io.

A press release detailing these results was issued this afternoon and is available in the Investor Relations section of our company's website <unk> Dot I O. Your host today, Joe Davis, Chief Executive Officer, and Alvin yet Chief Financial Officer will present unaudited results of operations for the fourth quarter and full.

Operator: Your host today, Joe Davey, Chief Executive Officer, and Alvin Yip, Chief Financial Officer, will present unaudited results of operations for the fourth quarter and full year ended December 31st, 2024.

Speaker Change: Year ended December 31, 2024 at this time I will turn the call over to Banzai, Chief Executive Officer, Joe D. P.

Joe Davey: At this time, I will turn the call over to Banzai Chief Executive Officer, Joe Davey. Thank you and good afternoon everyone. I am pleased to welcome you to Banzai's fourth quarter and full year 2024 financial results conference call. We, let me just go ahead and flip to the next slide here, sorry. We are seeing an acceleration of growth at Banzai with the fourth quarter showing significant pro forma revenue growth. This is driven by the recently closed acquisitions of Vidello and Open Reel, as well as continued strong performance for our product. For the full year 2024, total revenue on a consolidated pro forma basis was $16.7 million, which represents a 267% annual growth compared to Banzai's standalone revenue in 2023.

Joe Davy: Thank you. Good afternoon, everyone. I am pleased to welcome you to Banzai's Q4 and full year 2024 financial results conference call. Let me just go ahead and flip to the next slide here. Sorry. We are seeing an acceleration of growth at Banzai, with the Q4 showing significant pro forma revenue growth. This is driven by the recently closed acquisitions of Vidello and OpenReel, as well as continued strong performance for our products. For the full year 2024, total revenue on a consolidated pro forma basis was $16.7 million, which represents a 267% annual growth compared to Banzai standalone revenue in 2023. Vidello's next generation video creation, editing, and marketing suite, and OpenReel's digital video creation platform combined to add approximately $13 million in revenue that enabled us to greatly exceed our previously announced 2024 guidance of $10 million.

Speaker Change: Thank you and good afternoon, everyone.

Speaker Change: I am pleased to welcome you to Banzai fourth quarter and full year 2024 financial results Conference call.

Speaker Change: Yeah.

Speaker Change: Let's go ahead, and Switzerland next slide here sorry.

Speaker Change: We are seeing an acceleration of growth at bond guy with the fourth quarter showing significant pro forma revenue growth.

This is driven by the recently closed acquisitions of <unk> and opened as well as continued strong performance for our products.

Speaker Change: For the full year 2024 total revenue on a consolidated pro forma basis was $16 7 million, which represents a 267% annual growth compared to banzai standalone revenue in 2023.

Joe Davey: Videlo's next generation video creation, editing, and marketing suite and Open Reel's digital video creation platform combined to add approximately $13 million in revenue that enabled us to greatly exceed our previously announced 2024 guidance of $10 million. We are also making continued progress towards the closing of the acquisition of Act-On software, which is projected to increase revenue by $27 million for the full year 2025 on a pro forma basis. Importantly, we recently paid off $20.3 million of debt, which fully satisfies outstanding debt obligations to key vendors and will deliver a material benefit to net income and shareholders' equity for 2025.

<unk> next generation video creation editing and marketing suite and open real digital video creation platform combined to add approximately $13 million in revenue that enabled us to greatly exceed our previously announced 2024 guidance of $10 million.

Joe Davy: We are also making continued progress towards the closing of the acquisition of Act-On Software, which is projected to increase revenue by $27 million for the full year 2025 on a pro forma basis. Importantly, we recently paid off $20.3 million of debt, which fully satisfies outstanding debt obligations to key vendors and will deliver a material benefit to net income and shareholders' equity for 2025. We have continued to drive growth with the addition of 1,300 customers through December 2024. Banzai now serves a customer base of nearly 90,000 customers, many of which are top-tier enterprises that rely on our technology to succeed. I will begin with a brief overview of Banzai for those of you that are newer to the story, and touch on the market opportunity and the long-term vision.

Speaker Change: We're also making continued progress towards the closing of the acquisition of <unk> on software, which is projected to increase revenue by $27 million for the full year 2025 on a pro forma basis.

Speaker Change: Importantly, we recently paid off $23 million of debt, which fully satisfies outstanding debt obligations.

Speaker Change: Two key vendors and will deliver a material benefit to net income and shareholders' equity for 2025.

Joe Davey: We have continued to drive growth with the addition of 1,300 customers through December 2024. Banzai now serves a customer base of nearly 90,000 customers, many of which are top tier enterprises that rely on our technology to succeed.

Speaker Change: We have continued to drive growth with the addition of 1300 customers through December 2024 bonds I know some of the customer base of nearly 90000 customers many of which are top tier enterprises that rely on our technology.

Joe Davey: I will begin with a brief overview of Banzai for those of you that are newer to the story and touch on the market opportunity in the long-term vision. I will then cover some highlights from 2024 including updates on each of our products and our go-forward strategy. and I'll just point out that this presentation is being run on Demio, which is a Banzai product and the care of myself and Alvin were created using Create Studio, which is another Banzai product. So I hope everybody enjoys using a couple of Banzai products. At Banzai, we're building a platform of AI-powered marketing solutions that make our customers' lives ten times faster and easier.

Speaker Change: I will begin with a brief overview of banzai for those of you that are newer to the story and touch on the market opportunity in the long term vision I will then cover some highlights from 2024, including updates on each of our products and our go forward strategy.

Joe Davy: I will cover some highlights from 2024, including updates on each of our products and our go-forward strategy. I'll just point out that this presentation is being run on Demio, which is a Banzai product. The beauty here of myself and Alvin were created using CreateStudio, which is another Banzai product. I hope everybody enjoys using a couple of Banzai products today. At Banzai, we're building a platform of AI-powered marketing solutions that make our customers' lives ten times faster and easier. Our products enable our customers, from small businesses to large global enterprises, to target, engage, and measure both new and existing customers more effectively. We're focused on the rapidly growing global MarTech market, driven by digital transformation, heightened demand for personalized experiences, and the proliferation of automation and AI. Marketers in the modern age must grapple with a vast and complex network of vendors.

Speaker Change: And I'll just point out.

Speaker Change: That.

Speaker Change: This presentation is being run on Vimeo, which is our banzai product.

Speaker Change: And the.

Speaker Change: <unk>.

Speaker Change: Sure of myself and Alvin.

Speaker Change: Were created using creative studio, which is another banzai product.

Speaker Change: So I hope everybody enjoys using.

Speaker Change: A couple of bonds I products today.

Speaker Change: At Bondi, we're building a platform of AI powered marketing solutions that make our customers lives 10 times faster and easier our products enable our customers from small businesses to large global enterprises to target.

Joe Davey: Our products enable our customers, from small businesses to large global enterprises, to target, engage, and measure both new and existing customers more effectively. We're focused on the rapidly growing global MarTech market, driven by digital transformation, heightened demand for personalized experiences, and the proliferation of automation and AI. Marketers in the modern age must grapple with a vast and complex network of vendors. Our core product suite addresses the issue of disjointed customer experiences and messy data by centralizing essential tools in one place, Banzai. We're continuing to bolster our family of products by acquisitions, positioning us strongly for capitalizing on industry consolidation.

Speaker Change: Both new and existing customers more effectively.

Speaker Change: We're focused on the rapidly growing global Martech market, driven by digital transformation heightened demand for personalized experiences and the proliferation of automation and AI.

Speaker Change: <unk> in the modern age must grapple with a vast and complex network of vendors are core product suite addresses the issue of disjointed customer experiences and messy data by centralizing essential tools in one place banzai.

Joe Davy: Our core product suite addresses the issue of disjointed customer experiences and messy data by centralizing essential tools in one place, Banzai. We're continuing to bolster our family of products via acquisitions, positioning us strongly for capitalizing on industry consolidation. Before we delve deeper into updates for each of our individual products, I'd like to cover some key highlights for 2024 and subsequent periods. First off, our 2024 pro forma revenue in total was $16.7 million, exceeding our previous guidance of $10 million by 67% and representing 267% annual growth. In Q1 2025, we completed a $20.3 million debt repayment ahead of schedule, which fully satisfied our outstanding debt obligations to several key vendors. We're extremely pleased to deliver this improvement on the balance sheet, which will also create a material benefit to net income for 2025.

Speaker Change: We're continuing to bolster our family of products via acquisitions positioning us strongly for capitalizing on industry consolidation.

Joe Davey: Before we delve deeper into updates for each of our individual products, I'd like to cover some key highlights for 2024 and subsequent periods. First off, our 2024 pro forma revenue in total was $16.7 million exceeding our previous guidance of $10 million by 67% and representing 267% annual growth. In the first quarter of 2025, we completed a $20.3 million debt repayment ahead of schedule, which fully satisfied our outstanding debt obligations to several key vendors. We're extremely pleased to deliver this improvement on the balance sheet, which will also create a material benefit to net income for 2025.

Speaker Change: Before we delve deeper into updates for each of our individual products I would like to cover some key highlights for 2024 and subsequent period.

Speaker Change: First off our 2024 pro Rep pro forma revenue in total was $16 7 million exceeding our previous guidance of $10 million by 67% and representing 267% annual growth in.

Speaker Change: In the first quarter of 2025, we completed a $23 million debt repayment ahead of schedule, which fully satisfied our outstanding debt obligations to several key vendors were extremely pleased to deliver this improvement on the balance sheet.

Speaker Change: Also create a material benefit to net income for 2025.

Joe Davey: We achieved annual recurring revenue of $6.8 million in the fourth quarter. This represents a 54% annualized ARR growth rate compared to Q3 2024. Uh, full year 2024 adjusted EBITDA was negative 6.5 million, which represents a 5.4 million dollar improvement from full year 2023 EBITDA of negative 11.9 million. We acquired Videlo, a technology provider of video hosting and marketing suite for businesses, and OpenReel, a leading digital video creation platform. We signed a definitive agreement to acquire Acton Software, an enterprise marketing automation platform provider, which is projected to increase full year 2025 revenue by $27 million on a pro forma basis.

Joe Davy: We achieved annual recurring revenue of $6.8 million in Q4. This represents a 54% annualized ARR growth rate compared to Q3 2024. Full year 2024 adjusted EBITDA was -$6.5 million, which represents a $5.4 million improvement from full year 2023 EBITDA of -$11.9 million. We acquired Vidello, a technology provider of video hosting and marketing suite for businesses, and OpenReel, a leading digital video creation platform. We signed a definitive agreement to acquire Act-On Software, an enterprise marketing automation platform provider, which is projected to increase full year 2025 revenue by $27 million on a pro forma basis. We grew our customer base from 2,700 customers at the end of 2023 to over 90,000 as of 31 March 2025. We launched CreateStudio 4.0, which is the latest version of CreateStudio's award-winning video creation app, developed by the recently acquired Vidello.

Speaker Change: We achieved annual recurring revenue of $6 8 million in the fourth quarter. This represents a five.

Speaker Change: 54% annualized growth rate compared to Q3 2024.

Speaker Change: Full year 2024, adjusted EBITDA was negative $6 5 million, which represents a $5 $4 million improvement from full year 2023, EBITDA of negative $11 9 million.

Speaker Change: We acquired Modelo, a technology provider of video hosting and marketing suite for businesses and open real a leading digital video creation platform.

Speaker Change: We signed a definitive agreement to acquire act on software and enterprise marketing automation platform provider, which is projected to increase full year 2025 revenue by $27 million on a pro forma basis.

Joe Davey: We grew our customer base from 2,700 customers at the end of 2023 to over 90,000 as of March 31st, 2025. We launched Create Studio 4.0, which is the latest version of Create Studio's award-winning video creation app, developed by the recently-acquired Vudelo. Finally, we launched Curate, an AI-powered newsletter platform designed to streamline content creation and audience engagement for organizations of all sizes. As we look at our long-term vision, we are building an AI-powered platform that provides marketing teams with the data, analytics, and integrated applications they need to win. We are consolidating mission-critical, subscale, MarTech products within the key themes, which we'll call our Four Horsemen of Marketing Technology.

Speaker Change: We grew our customer base from 27 100 customers at the end of 2023 to over 90000 as of March 31 2025.

Speaker Change: We launched create studio a 4.0, which is the latest version of <unk> Studios Award winning video creation App.

Speaker Change: <unk> by the recently acquired Modelo.

Joe Davy: Finally, we launched Curate, an AI-powered newsletter platform designed to streamline content creation and audience engagement for organizations of all sizes. As we look at our long-term vision, we are building an AI-powered platform that provides marketing teams with the data analytics and integrated applications they need to win. We are consolidating mission-critical sub-scale MarTech products within the key themes, which we'll call our four horsemen of marketing technology, attracting leads, engaging them through content, gathering and enriching data to drive business intelligence, and measuring results to improve operations. All products that we have built, will build, or acquire, will fit into this framework, which simply put, is focused on delivering more customer value over time. Through 31 March 2025, Banzai achieved a milestone in debt repayment under our September 2024 restructuring plan. We've now repaid $20.3 million of liabilities under that plan.

Speaker Change: Finally, we launched curate and AI powered newsletter platform designed to streamline content creation and audience engagement for organizations of all sizes.

Speaker Change: As we look at our long term vision, we are building an AI powered platform that provides marketing teams with the data analytics and integrated applications they need to win.

Speaker Change: We are consolidating mission critical subscale martech products within the key themes, which will call. Our four horsemen of marketing technology, attracting leads engagement through content gathering and enriching data to drive business intelligence and measuring results to improve operations.

Joe Davey: Attracting leads, engaging them through content, gathering and enriching data to drive business intelligence, and measuring results to improve operations. All products that we have built, will build, or acquire will fit into this framework, which simply put, is focused on delivering more customer value over time. Through March 31, 2025, Banzai achieved a milestone in debt repayment under our September 2024 restructuring plan. Now that we've repaid, we've now repaid $20.3 million of liabilities under that plan. This will impact both stockholders' equity and net income in 2025, and this is a very meaningful milestone for the company and positions us for future financial strength.

Speaker Change: All products that we have built will build or acquire will fit into the framework, which simply put is focused on delivering more customer value over time.

Speaker Change: Through March 31, 2025 bonds achieved a milestone in debt repayment under our September 2020 for restructuring plan.

Speaker Change: Now that we've repaid we've now repaid $23 million of liabilities under that plan.

Joe Davy: This will impact both stockholders' equity and net income in 2025. This is a very meaningful milestone for the company and positions us for future financial strength. Moving on to our products. In 2024 and Q1 2025, we completed the acquisitions of OpenReel and Vidello. These products will be operated under a consolidated video business unit within Banzai that is focused on helping marketers leverage video to engage their leads and customers more effectively. This consolidated business had pro forma revenues of $16.7 million in 2024, which represents 267% growth compared to Banzai standalone in 2023. I'll pause here and I'll point out that this slide, the scene that you're seeing here, are assets from CreateStudio. Our Vidello subsidiary makes CreateStudio, a leading product for creating 3D Pixar-style videos quickly and easily.

Speaker Change: This will impact both stockholders equity and net income in 2025.

Speaker Change: And this is a very meaningful milestone for the company and positions us for future financial strength.

Joe Davey: Moving on to our products. In 2024 and Q1 2025, we completed the acquisitions of OpenReel and Videlo. These products will be operated under a consolidated video business unit within Banzai that is focused on helping marketers leverage video to engage their leads and customers more effectively. This consolidated business had pro forma revenues of $16.7 million in 2024, which represents 267% growth compared to Banzai standalone in 2023. I'll pause here and I'll point out that this slide, the scene that you're seeing here are assets from Create Studio. Our Vidello subsidiary makes Create Studio, a leading product for creating 3D Pixar-style videos quickly and easily.

Speaker Change: Moving onto our products.

Speaker Change: In 2024, and Q1 2025, we completed the acquisitions of open real and Modelo. These.

Speaker Change: These products will be operated under a consolidated video a business unit within Banzai that is focused on helping marketers leverage video to engage their leads and customers more effectively.

This consolidated business had pro forma revenues of $16 $7 million in 2024, which represents 267% growth compared to Bondi Standalone in 2023.

Speaker Change: Al.

Speaker Change: Pause here and I'll point out that.

Speaker Change: This <unk>.

Speaker Change: Slide the seem that youre seeing here.

Speaker Change: Our assets from create studio.

Speaker Change: Our <unk> subsidiary makes create studio a leading product for creating three D. Pixar style video as quickly and easily. It includes over 1000 prebuilt assets customers can leverage in their projects and has over 85000 customers as of March 31 2025.

Joe Davey: It includes over 1,000 pre-built assets customers can leverage in their projects and has over 85,000 customers as of March 31, 2025. Videlo also includes products for video marketing, live images, and royalty-free audio. In February, we launched Create Studio 4.0, the latest version of the award-winning video creation app developed by our Videlos subsidiary. The Videlo business delivered $6.1 million in revenue and $1.5 million in net income in 2020.

Joe Davy: It includes over 1,000 pre-built assets customers can leverage in their projects and has over 85,000 customers as of 31 March 2025. Vidello also includes products for video marketing, live images, and royalty-free audio. In February, we launched CreateStudio 4.0, the latest version of the award-winning video creation app developed by our Vidello subsidiary. The Vidello business delivered $6.1 million in revenue and $1.5 million in net income in 2024. Meet OpenReel. Our OpenReel product enables customers to capture, create, and edit brand-compliant, production-ready videos. It enables remote capture from any device and AI-powered editing to streamline customer workflows. The OpenReel business has over 650 mid-market and enterprise customers and delivered $6.3 million in revenue and $0.1 million in net income in 2024. Finally, Demio. We're continuing to see traction with Demio, our AI-powered webinar platform, which you're all joining us on today.

Speaker Change: <unk> also includes products for video marketing live images and royalty free audio.

Speaker Change: In February we launched create studio a 4.0 the latest version of the award winning video creation App developed by our <unk> subsidiary.

Speaker Change: The modelo business delivered $6 $1 million in revenue and $1 5 million and net income in 2024.

Speaker Change: Okay.

Joe Davey: meet OpenREAL. Our Open Reel product enables customers to capture, create, and edit brand-compliant, production-ready videos. It enables remote capture from any device and AI-powered editing to streamline customer workflow. Open Reel Business has over 650 mid-market and enterprise customers and delivered $6.3 million in revenue and $0.1 million in net income in 2024.

Speaker Change: The open reel.

Speaker Change: Our open real product enables customers to capture create and edit brand compliant production ready videos. It enables remote capture from any device and AI powered editing to streamline customer workflows to.

Speaker Change: Open real business has over 650 mid market and enterprise customers and delivered $6 $3 million in revenue and $1 million and net income in 2024.

Okay.

Joe Davey: And finally, Demio. We're continuing to see traction with Demio, our AI-powered webinar platform, which you're all joining us on today. We've made enhancements to the platform's integration with HubSpot, Salesforce, and Pardot to offer advanced contact management, UTM tracking, and seamless data synchronization at both the session and contact level. Dimeo has an industry-first feature, Event Insights, pre-event analytics delivered to your inbox, tracking registrations, cancellations, room size alerts, peak days, and top channels. This empowers Dimeo users to make data-driven decisions and maximize attendee engagement to better leverage everyone's time. Our AI moderator to Demio powered by our own LLM custom designed to this purpose allows our customers to train an AI to join their webinars to assist their attendees.

Speaker Change: And finally demo.

Speaker Change: We're continuing to see traction with <unk>, our AI powered webinar platform, which you are all joining us on today.

Joe Davy: We've made enhancements to the platform's integration with HubSpot, Salesforce, and Pardot to offer advanced contact management, UTM tracking, and seamless data synchronization at both the session and contact levels. Demio has an industry-first feature, Event Insights, pre-event analytics delivered to your inbox, tracking registrations, cancellations, room size alerts, peak days, and top channels. This empowers Demio users to make data-driven decisions and maximize attendee engagement to better leverage everyone's time. Our AI Moderator to Demio, powered by our own LLM custom designed to this purpose, allows our customers to train an AI to join their webinars to assist their attendees. Demio is built to empower marketers to streamline their webinar management and marketing efforts, ultimately leading to better business decision-making and higher ROI for our customers. In January 2025, we announced the definitive agreement to acquire Act-On Software, Inc. Act-On is a leading marketing automation platform provider.

Speaker Change: We've made enhancements to the platform integration with hub spot Salesforce and <unk> to offer advanced contact management, UQM tracking and seamless data synchronization at both the session and contact levels Vimeo.

Speaker Change: <unk> has an industry first feature isn't insights prevent analytics delivered to your inbox tracking registration cancellations room size alerts peak days and top channels.

Speaker Change: This empowers vimeo users to make data driven decisions and maximize attendee engagement to better leverage everyone's time.

Speaker Change: AI moderator to <unk> powered by our own LLM custom designed to this purpose.

Speaker Change: Allows our customers to train and AI to join their webinars to assist their attendees.

Joe Davey: Demeo is built to empower marketers to streamline their webinar management and marketing efforts, ultimately leading to better business decision-making and higher ROI for our customers.

Speaker Change: <unk> was built to empower marketers to streamline their webinar management and marketing efforts ultimately leading to better business decision, making and higher ROI for our customers.

Joe Davey: In January 2025, we announced a definitive agreement to acquire Acton Software, Inc. Acton is a leading marketing automation platform provider. It's expected to be accreted to Banzai's overall revenue and net income in 2025.

Speaker Change: In January 2025, we announced the definitive agreement to acquire Act on software Inc.

Speaker Change: <unk> is a leading marketing automation platform provider that is expected to be accretive to <unk> overall revenue and net income in 2025.

Joe Davy: It's expected to be accretive to Banzai's overall revenue and net income in 2025. This acquisition is subject to the satisfaction or waiver of closing conditions and is still in progress. Curate, which we launched late last year, is a groundbreaking AI-powered newsletter platform that writes and grows itself. Leveraging OpenAI's GPT-4o to automate the newsletter creation process, Curate writes relevant branded articles that resonate with target audiences. They currently require significant time and resources to create and maintain. Curate was made to take down the cost and effort for our customers to create high-quality newsletters by 90%. This is a really cool product, by the way. If you're interested in a demo, send me an email after the end of this, and I'll make sure it happens.

Joe Davey: This acquisition is subject to the satisfaction or waiver of closing conditions and is still in progress.

Speaker Change: This acquisition is subject to the satisfaction or waiver of closing conditions and is still in progress.

Joe Davey: Curate, which we launched late last year, is a groundbreaking AI-powered newsletter platform that writes and grows itself. Leveraging OpenAI's GPT-40 to automate the newsletter creation process, Curate writes relevant, branded articles that resonate with target audiences. Newsletters are a key modern engagement tool for businesses to highlight their brands for their existing and prospective customers, but they currently require significant time and resources to create and maintain. Curate was made to take down the cost and effort for our customers to create high quality newsletters by 90%.

Speaker Change: Curate, which we launched late last year is a groundbreaking AI powered newsletter platform that Reits and grows itself.

Speaker Change: Leveraging <unk> to automate the newsletter creation process curate rights relevant branded articles that resonate with target audiences.

Speaker Change: Newsletters are a key modern engagement tool for businesses to highlight their brands for their existing and prospective customers, but they currently require significant time and resources to create and maintain.

Speaker Change: <unk> was made to take down the cost and effort for our customers to create high quality newsletters by 90%.

Joe Davey: This is a really cool product, by the way.

Speaker Change: This is a really cool product by the way if youre interested in the demo.

Joe Davey: If you're interested in the demo, send me an email after the end of this and I'll make sure it happens.

Send me an email with after the end of this and I'll make sure it happens.

Speaker Change: Okay.

Speaker Change: Okay.

Joe Davey: Driven by our acquisitions, we've substantially scaled our customer base to over 90,000 customers while retaining leaders from various industries. Some of our key customers and partners include Cisco, Adobe, Thermo Fisher Scientific, Microsoft, Dell, Capital One, RBC Global Asset Management, among thousands of others. We serve a variety of industries, including healthcare, financial services, e-commerce, technology, and media in over 90 countries. We're continuing to focus on targeting the mid-market and enterprise segment while still supporting small businesses. We're taking a disciplined approach to focus on acquiring stickier, higher-value customers.

Joe Davy: Driven by our acquisitions, we've substantially scaled our customer base to over 90,000 customers while retaining leaders from various industries. Some of our key customers and partners include Cisco, Adobe, Thermo Fisher Scientific Inc., Microsoft Corporation, Dell, Capital One, RBC Global Asset Management, among thousands of others. We serve a variety of industries, including healthcare, financial services, e-commerce, technology, and media in over 90 countries. We're continuing to focus on targeting the mid-market and enterprise segment while still supporting small businesses. We're taking a disciplined approach to focus on acquiring stickier, higher-value customers. Banzai continues to be focused on our strategy of building and buying new products across four key areas, attracting leads, engaging content, tracking, and intelligence. We feel these areas are key to marketing success, both now and in the future, for our customers. Our growth strategy is centered around our secret sauce, our land and expand model.

Speaker Change: Driven by our acquisitions, we've substantially scaled our customer base to over 90000 customers, while retaining leaders from various industries. Some of our key customers and partners include Cisco Adobe Thermo Fisher scientific Microsoft Dell capital, one RBC global asset management, among thousands of others.

Speaker Change: We serve a variety of industries, including health care financial services E Commerce technology and media in over 90 countries.

Speaker Change: We're continuing to focus on targeting the mid market and enterprise segment, while still supporting small businesses. We are taking a disciplined approach to focus on acquiring stickier higher value customers.

Joe Davey: Banzai continues to be focused on our strategy of building and buying new products across four key areas, attracting leads, engaging content, tracking, and intelligence. We feel these areas are key to marketing success, both now and in the future for our customers.

Speaker Change: Banzai continues to be focused on our strategy of building and buying new products across four key areas, attracting weeds engaging content tracking and intelligence we.

Speaker Change: We feel these areas are key to marketing success, both now and in the future for our customers.

Joe Davey: Our growth strategy is centered around our secret sauce, our land and expands model. The land phase is securing a customer for one Banzai solution based on their needs at the time. With the variety of complementary tools that are now in our product suite, we can then upsell that customer to increase NRR or the expansion phase.

Speaker Change: Our growth strategy is centered around our secret sauce, our land and expand model the.

Joe Davy: The land phase is securing a customer for one Banzai solution based on their needs at the time. With the variety of complementary tools that are now in our product suite, we can then upsell that customer to increase NRR or the expansion phase. We are targeting a 10% cross-sale rate per business unit in 2025. Our vision is to build a moat in two key areas, integrations and AI enablement. By combining multiple products on a single platform, we can simplify customers' workflows and deliver on our brand promise of 10 times faster and easier solutions. Long term, we believe AI enablement will be key to marketing success. We believe that adding more products with more data will enable us to deliver more powerful AI features over time.

Speaker Change: The land phase of securing a customer for one bond by solutions based on their needs at the time.

Speaker Change: With a variety of complementary tools that are now in our product suite. We can then upsell that customer to increase in IRR or the expansion phase.

Joe Davey: We're targeting a 10% cross-sale rate per business unit in 2025.

Speaker Change: We're targeting a 10% cross sell rate per business unit in 2025.

Speaker Change: Okay.

Joe Davey: Our vision is to build a moat in two key areas, integrations and AI enablement. By combining multiple products on a single platform, we can simplify customers' workflows and deliver on our brand promise of 10 times faster and easier solutions. Long-term, we believe AI enablement will be key to marketing success. We believe that adding more products with more data will enable us to deliver more powerful AI features over time.

Speaker Change: Our vision is to build a moat in two key areas integrations and AI enablement by.

Speaker Change: By combining multiple products on a single platform, we can simplify customers' workflows and deliver on our brand promise of 10 times faster and easier solutions.

Speaker Change: Long term, we believe AI enablement will be key to marketing success, we believe that adding more products with more data will enable us to deliver more powerful AI features over time.

Speaker Change: Okay.

Joe Davey: Our business model is based on a flywheel, where great products lead to growing customer usage, which then drives additional data and content on our product. This data and content enables us to create additional high value or create additional customer value through integrations, automations and AI features. Over time, we believe that this flywheel will be key to driving customer expansion and the continued organic growth of our business.

Joe Davy: Our business model is based on a flywheel, where great products lead to growing customer usage, which then drives additional data and content on our products. This data and content enables us to create additional customer value through integrations, automations, and AI features. Over time, we believe that this flywheel will be key to driving customer expansion and the continued organic growth of our business. We see an enormous potential for long-term value creation by scaling via strategic acquisitions in addition to organic growth. We are taking a diligent approach to evaluating potential candidates that can align with the key themes of Banzai's AI-driven platform. Again, attracting leads, engagement, data, and intelligence. The opportunity for Banzai is twofold. First, to increase our product capabilities by acquiring strategically aligned products that serve our core customer base.

Speaker Change: Our business model is based on a flywheel, where great products lead to growing customer usage, which then drives additional data and content on our products. This data and content enables us to create additional high value or create additional customer value through integrations automation and AI features.

Speaker Change: Overtime, we believe that this flywheel will be key to driving customer expansion and the continued organic growth of our business.

Joe Davey: We've seen enormous potential for long-term value creation by scaling via strategic acquisitions in addition to organic growth. We're taking a diligent approach to evaluating potential candidates that can align with the key themes of Banzai's AI-driven platform. Again, attracting leads, engagement, data, and intelligence.

Speaker Change: We've seen enormous potential for long term value creation by scaling via strategic acquisitions. In addition to organic growth, we're taking a diligent approach to evaluating potential candidates that can align with the key themes of bonds is AI driven platform again attracting.

Speaker Change: Leave engagement data and intelligence.

Joe Davey: The opportunity for Banzai is twofold. First, to increase our product capabilities by acquiring strategically aligned products that serve our core customer base. And second, by accelerating our path to profitability and scale, and hopefully to benefit from multiple expansion along the way.

Speaker Change: The.

Speaker Change: Attunity for bonds is twofold first to increase our product capabilities by acquiring strategically aligned products that serve our core customer base and second by accelerating our path to profitability and scale and hopefully to benefit from multiple expansion along the way.

Joe Davy: Second, by accelerating our path to profitability and scale, and hopefully to benefit from multiple expansion along the way. I will now turn the call over to Alvin Yip, interim Chief Financial Officer, to discuss our financial results. Alvin?

Alvin Yip: I will now turn the call over to Alvin Yip, Interim Chief Financial Officer, to discuss our financial results. Alvin, thank you, Joe. Hi, everyone.

Speaker Change: I will now turn the call over to <unk> interim Chief financial officer to discuss our financial results.

Albert: Albert Thank you Joe.

Alvin Yip: Thank you, Joe. Hi, everyone. I'm going to do a financial summary on the Q4 and the 12-month full year financial. Total revenue for Q4 2024 was $1.3 million, compared to $1.1 million in Q4 2023. However, we believe the non-GAAP metrics annual recurring revenue or ARR is more meaningful in evaluating the company's performance. ARR was $6.8 million for Q4 2024 and represents a 46% increase from Q4 2023. Gross profit for Q4 2024 was $0.9 million, compared to $0.8 million in Q4 2023. Gross margin was flat at 71% in Q4 2024, compared to 71% in Q4 2023. Total operating expense for Q4 2024 were $4.8 million, compared to $4 million in Q4 2023.

Hi, everyone, so I'm going to.

Alvin Yip: So I'm going to do a financial summary on the Q4 and the 12-month full-year financial year. Total revenue for the fourth quarter of 2024 was $1.3 million compared to $1.1 million in the fourth quarter of 2023. However, we believe the non-GAAP matrix, annual recurring revenue, or ARR, is more meaningful in evaluating the company's performance. ARR was $6.8 million for the fourth quarter of 2024 and represents a 46% increase from the fourth quarter of 2020. Gross profit for the fourth quarter of 2024 was 29 million compared to 0.8 million in the fourth quarter of 2020.

Albert: To us financial summary, on the Q4 and and the trough month full year financial.

Albert: Total revenue for the fourth quarter of 2024 was $1 3 million compared to $1 1 million in the fourth quarter of 2023.

Albert: However, we believe the non-GAAP matrix annual recurring revenue or <unk> is more meaningful in evaluating the company's performance.

Albert: <unk> was $6 8 million for the fourth quarter of 2024 and represents a 46% increase from the fourth quarter of 2023.

Albert: Gross profit for the fourth quarter of 2024 was.

Albert: One 9 million.

Albert: <unk> two 8 million in the fourth quarter of 2023 gross margin was flat at 71% in the fourth quarter of 2024 compared to a 71%.

Alvin Yip: gross margin was flat at 71% in the fourth quarter of 2024 compared to 71% in the fourth quarter of Total operating expense for the fourth quarter of 2024 were $4.8 million, compared to $4 million in the fourth quarter of 2020. Net loss for the fourth quarter of 2024 was 7.8 million compared to a net loss of 6.4 million in the fourth quarter of 2023. Non-GAAP-adjusted EBITDA for the fourth quarter of 2024 was $1.44 million, reflecting a net loss of $7.9 million before changing the value adjustment of common stocks warrant issued. Goodwill and other bifurcated embedded derivatives liabilities for a total of $4.2 million.

Albert: In the fourth quarter of 2023.

Albert: Total operating total operating expense for the fourth quarter of 2024 were $4 8 million compared to four 4 million in the fourth quarter of 2023.

Alvin Yip: Net loss for Q4 2024 was $7.8 million, compared to a net loss of $6.4 million in Q4 2023 year. Non-GAAP adjusted EBITDA for Q4 2024 was $1.44 million, reflecting a net loss of $7.9 million before changing the value adjustment of common stocks warrant issued, goodwill, and other bifurcated embedded derivative liabilities for a total of $4.2 million. Loss on extinguishment of debt and other expenses for $2.3 million, and is a sequential improvement of $0.03 million compared to the adjusted net loss of $1.47 million for Q3 2024. This represents an annualized improvement of approximately $0.12 million. Non-GAAP adjusted EBITDA had a loss of $1.44 million for Q4 2024, reflecting a sequential increase of approximately $7.8 million in earnings when compared to a loss of $9.2 million for Q4 2023.

Albert: Net loss for the fourth quarter of 2024 was $7 8 million compared to a net loss of $6 4 million in the fourth quarter of 2023 years.

Albert: non-GAAP adjusted EBITDA for the fourth quarter of 2024 was 144 million, reflecting a net loss of $7 9 million before changing the value adjustment of common stocks warrant issued.

Albert: Goodwill and other bifurcated embedded the repetition of liabilities for a total of $4 2 million.

Alvin Yip: loss on extinguishment of that and other expenses for 2.3 million. And it's a sequential improvement of 0.03 million compared to the adjusted net loss. of 1.47 million for the third quarter of 2024. This represents an annualized improvement of approximately point one two million. Non-GAAP-adjusted EBITDA had a loss of $1.44 million for the fourth quarter of 2024, reflecting a sequential increase of approximately $7.8 million in earnings when compared to a loss of $9.2 million for the fourth quarter of 2023.

Albert: The loss on extinguishment of debt and all expenses for $2 3 million and if.

Albert: Sequential improvement of points.

Albert: <unk> 3 million compared to the adjusted net loss.

Albert: One $4 7 million for the third quarter of 2024. This represents eight and annualized improvement of approximately.

Albert: One 2 million.

Albert: non-GAAP adjusted EBITDA had a loss of $1 4 million for the fourth quarter of 2024, reflecting a sequential increase of approximately $7 8 million in earnings when compared to a loss of $9 2 million for the fourth quarter of 2023.

Alvin Yip: This period-over-period increase in earnings is primarily attributed to the company's overall cost-cutting efforts made in general and administrative, marketing, and technology expenses, and represents an annualized improvement to adjusted EBITDA of approximately $31 million. Total pro forma revenue for the full year 2024 was $16.7 million, compared to the $4.6 million in the prior year, reflecting a sequential increase of approximately $12.1 million in earnings. Gross profit for the full year 2024 was $13.6 million, compared to $3.1 million in 2023. Gross margin was flat at 81% in the full year 2024, compared to 68% in 2023, reflecting a sequential increase of approximately 13%. Cash and cash equivalents total $1.1 million on 31 December 2024, as compared to $4.3 million on 30 September 2024, and $2.1 million on 31 December 2023. I will turn the call back to Joe for some closing remarks. Thank you, everyone.

Alvin Yip: This period-over-period increase in earnings is attributed to the company's overall cost-cutting effort made in general and administrative marketing and technology expenses, and represents an annualized improvement to adjusted EBITDA of approximately $31 million.

Albert: Period over period increase in earnings is primarily attributed to the company overall cost cutting effort may in general and administrative marketing and technology expenses and represents an annualized improvement to adjusted EBITDA of approximately 31 million.

Alvin Yip: Total performer revenue for the full year 2024 was $16.7 million compared to the $4.6 million in the prior year, reflecting a sequential increase of approximately $12.1 million in earnings. Gross profit for the full year 2024 was $13.6 million compared to $3.1 million in 2023. Growth margin was flat at 81% in the full year 2024, compared to 68% in 2023, reflecting a sequential increase of approximately 13%. Cash and cash equivalents total $1.1 million on December 31st, 2024, as compared to $4.3 million on September 30th, 2020. and 2.1 million on December 31st, 2020.

Albert: Total pro forma revenue for the full year 2024 was $16 7 million compared to the $4 6 million in the prior year, reflecting a sequential increase of approximately $12 1 million in earnings.

Albert: Gross profit for the full year 2024 was $13 6 million compared to $3 1 million in 2023.

Albert: Gross margin was flat at 81% in the full year 2024, compared to 868% in 2023, reflecting a sequential increase of approximately 17%.

Albert: Cash and cash equivalents totaled $1 1 million on December 31, 2024, as compared to $4 3 million on September 32024.

Albert: And $2 1 million on December 31, 2023.

Joe Davey: I will turn the call back to Joe for some closing.

Joe Davis: I will turn the call back to Joe for some closing remarks.

Albert: You bet.

Joe Davey: Thank you, Alvin. Hopefully everybody can see why we were so excited to share this update with you all.

Joe Davy: Thank you, Alvin. Hopefully, everybody can see why we were so excited to share this update with you all. Before I close, I would like to review our 2025 forecast for our consolidated company to include OpenReel and Vidello. I will give the disclaimer that this is a forecast and we like to be transparent here. As was said at the beginning of the call, this is a forward-looking projection and may change, and we are not required to disclose those changes if they occur. As you all know, we have taken the approach of trying to be transparent to the market, that is why we wanted to share this today. Our pro forma revenue for the full year of 2025 is projected to be just shy of $20 million, which would represent a 19% increase from full-year 2024 actual revenue.

Alvin Yet: Thank you Alvin.

Albert: Everybody can see why we were.

Albert: So excited to share this update with you all.

Joe Davey: Before I close, I'd like to review our 2025 forecast for our consolidated company to include OpenReel and Videlo. I'll give the disclaimer that this is a forecast and, you know, we like to be transparent here, but as was said at the beginning of the call, you know, this is a forward-looking this is a forward-looking projection and, you know, may change and we're, you know, not required to disclose those changes if they occur, but as you all know, we, you know, have taken the approach of trying to be transparent to the market and so that's why we wanted to share this today.

Albert: Before I close I'd like to review, our 2025 forecast for our consolidated company to include open reel and below.

Albert: I'll give the.

Albert: Disclaimer that this is a forecast and.

Albert: We we like to be transparent here, but as was said at the beginning of the call.

Speaker Change: Uh huh.

Albert: This this.

Speaker Change: This is a forward looking.

Speaker Change: This is a forward looking projection and.

Speaker Change: May change and we are.

Speaker Change: Sure.

Speaker Change:

Speaker Change: Not required to disclose those changes if they occur.

Speaker Change: As you all know we.

Speaker Change: Have taken.

Speaker Change: <unk> taken the approach of trying to be transparent to the market and so that's why we wanted to share. This today.

Joe Davey: Our pro forma revenue for the full year of 2025 is projected to be just shy of $20 million, which would represent a 19% increase from full year 2024 actual revenue. Our pro forma net income is projected to be $1.4 million in 2025, reflecting our transition to be a profitable company on a gap basis.

Speaker Change: Our pro forma revenue for.

Speaker Change: For the full year of 2025 is projected to be just shy of $20 million, which would represent a 19% increase from full year 2020 for actual revenue.

Joe Davy: Our pro forma net income is projected to be $1.4 million in 2025, reflecting our transition to be a profitable company on a GAAP basis, which is something that we're very excited about. In summary, we have a fortified balance sheet, a massive customer base, and an expanding product suite. We're making steady progress towards profitability and long-term growth. Something I would like to note is our minimal exposure to geopolitical and tariff risk that is impacting many global businesses at the moment. We have an asset-light, scalable business model, and as such, we're projecting substantial revenue growth in 2025. Apologies for that. We are consistently evaluating potential value-added acquisition opportunities that can further accelerate our growth.

Speaker Change: Our pro forma net income is projected to be $1 $4 million in 2025, reflecting our transition to be a profitable company on a GAAP basis.

Joe Davey: which is something that we're very excited about.

Speaker Change: Which is something that we're very excited about.

Speaker Change: Okay.

Joe Davey: In summary, with a fortified balance sheet, a massive customer base and an expanding product suite, we're making steady progress towards profitability and long-term growth.

Speaker Change: In summary, we have a fortified balance sheet, a massive customer base and an expanding product suite, we're making steady progress towards profitability and long term growth.

Joe Davey: Something I would like to note is our minimal exposure to geopolitical and tariff risk that is impacting many global businesses at the moment. We have an asset-light, scalable business model, and as such, we're projecting substantial revenue growth in 2025. We are consistently evaluating potential value added acquisition opportunities that can further accelerate our growth.

Speaker Change: Something I would like to note is our minimal exposure to geopolitical and tariff risk that is impacting many global businesses at the moment, we have an asset light scalable business model and as such we are projecting.

Speaker Change: Substantial revenue growth in 2025.

Speaker Change: Hum.

Speaker Change: Apologies for that.

Speaker Change: We are consistently evaluating potential value added acquisition opportunities that can further accelerate our growth we are well positioned for success as we execute on our strategic initiatives and I look forward to providing additional updates in the months to come as we work on building long term value for our shareholders.

Joe Davey: We're well positioned for success as we execute on our strategic initiatives and I look forward to providing additional updates in the months to come as we work on building long-term value for our shareholders.

Joe Davy: We're well-positioned for success as we execute on our strategic initiatives, and I look forward to providing additional updates in the months to come as we work on building long-term value for our shareholders. Thank you, everyone, for attending, and I would now like to answer your questions. Operator?

Operator: Thank you everyone for attending, and I would now like to answer your questions. Operator. Currently do not see any in the chat. Okay, we got one coming in. We've got a couple coming in.

Speaker Change: Thank you everyone for attending and I would now like to answer your questions.

Speaker Change: Yeah.

Speaker Change: Operator.

Operator: Currently do not see any in the chat. Okay, we got one coming in. We've got a couple coming in. What are your top strategic priorities for 2025 to maximize the value of OpenReel, Vidello, and Act-On, and how will these drive long-term shareholder value? How do you see Banzai's expanded portfolio positioning the company against competitors in the marketing technology space?

Speaker Change: Currently do not see any in the chat.

Speaker Change: Okay got one coming in.

Speaker Change: We've got a couple of coming in.

Joe Davey: What are your top strategic priorities for 2025 to maximize the value of OpenReal, Adelo, and ActOn, and how will these drive long-term shareholder value? How do you see Banzai's expanded portfolio positioning the company against competitors in the marketing technology space? Okay.

Speaker Change: What are your top strategic priorities for 2020 to maximize the value of open real Gallo and act on it.

Speaker Change: How long these drive long term shareholder value, how do you see <unk> expanded portfolio positioning the company against competitors in marketing technology space.

Speaker Change: Okay.

Joe Davy: Okay. First of all, thank you for the question. Our number one strategic priority is to integrate these products so they work seamlessly together, so a customer that uses one of those products can utilize any of the other ones. We think that the way I think about this is really simple, right? A customer comes to us on one of these products, they typically have a very specific problem to solve. Customers in the marketing world, they're not looking for tools, they're looking for marketing enablement. They're looking to solve a problem within their business, and they're looking for a specific solution to that problem. Over time, though, those customers tend to have additional problems.

Speaker Change: Okay.

Joe Davey: Uh First of all, thank you for the question. Our number one strategic priority is to integrate these products, so they work seamlessly together. So a customer that uses one of those products can utilize any of the other ones. And we think that this is basically, the way I think about this is really simple, right? Customer comes to us on one of these products, they typically have a very specific problem to solve. And customers in the marketing world, they're not looking for tools, they're looking for marketing enablement. So they're looking to solve a problem within their business, and they're looking for a specific solution to that problem.

Speaker Change: First of all thank you for the question.

Speaker Change: Our number one strategic priority is.

Speaker Change: To integrate these products.

Speaker Change: So.

Work seamlessly together, so a customer that uses.

Speaker Change: One of those.

Speaker Change: <unk> can.

Speaker Change: Utilize any of the other ones are.

Speaker Change: And we think that this is a.

Speaker Change: Basically.

Speaker Change: The way the way I think about this is really simple right.

Speaker Change: <unk> comes to us on one of these products. They typically have a very specific problem to solve.

Speaker Change: And.

Speaker Change: Customers in the marketing world, they're not looking for tools Theyre looking for marketing enablement, so they're looking to solve a problem within their business.

Speaker Change: They're looking for a specific solution to that problem over time, though those customers tend to have additional problems and so the analogy I love here is get a customer in one door just.

Joe Davey: Over time though, those customers tend to have additional problems. And so the analogy I love here is, get a customer in one door, just like you're at a stadium, get a customer in one of the entrances, but once they're in the stadium, you can sell them the same beer and hot dogs and pizza everywhere in the stadium. And that's basically our approach to integrating these products. We want the products to work together smoothly, so that it's really easy for customers to go buy that extra hot dog or go buy that extra. And so that's really what our focus is right now, technically.

Joe Davy: The analogy I love here is get a customer in one door, just like you're at a stadium. Get a customer in one of the entrances, but once they're in the stadium, you can sell them the same beer and hot dogs and pizza everywhere in the stadium. That's basically our approach to integrating these products. We want the products to work together smoothly so that it's really easy for customers to go buy that extra hot dog or go buy that extra beer. That's really what our focus is right now, technically. I would say from a business standpoint, this is really about operationally getting those teams to work together well.

Just like you're at a stadium.

Speaker Change: Get a customer in in one of the entrances, but once they are in the stadium.

Speaker Change: You can sell them the same beer hotdogs and pizza.

Speaker Change: Everywhere in the stadium and Thats basically.

Speaker Change: Our approach to integrating these products, we want the products to work together smoothly. So that it's really easy for customers to go buy that extra hotdogs go by that extra beer and.

Speaker Change: So that's really what our focus is right now technically.

Joe Davey: And then I would say from a business standpoint, this is really about operationally getting those teams to work together well. In other words, you know, integrating the different product teams, integrating the different you know, customer success teams, sales teams, marketing teams, so that we can kind of go to market with a single voice, so we can upsell customers in a cohesive way. So we think that a lot of the growth and the value of this strategy really comes from customer expansion and upsell over time, and so I think the the key is making the products work well together, and then making our teams work well together to go take those products to our customer base.

Speaker Change: And then I would say from a business standpoint. This is really about operationally getting those teams to work together well.

Joe Davy: In other words, integrating the different product teams, integrating the different customer success teams, sales teams, and marketing teams, so that we can go to market with a single voice, so we can upsell customers in a cohesive way. We think that a lot of the growth and the value of this strategy really comes from customer expansion and upsell over time. I think the key is making the products work well together and then making our teams work well together to go take those products to our customer base. That's a high level. I hope that answers your question. Let's see. I'm just going to go through these one by one. This question, when would 2025 Q1 results come out? Right now, we're expecting Q1 results to be out on 15 May 2025.

Speaker Change: In other words.

Speaker Change: Integrating the different product teams integrating the different.

Speaker Change: Customer success teams sales teams marketing teams.

Speaker Change: So that we can kind of go to market with a single voice. So we can upsell customers in a cohesive way so.

Speaker Change: We think that a lot of the growth and the value of this strategy really comes from customer expansion and upsell over time.

Speaker Change: And so I think the key is making the products work well together and then making our teams worked well together to go take those products to our customer base. So that's that's a high level I hope that answers your question.

Joe Davey: So that's a high level. I hope that answers your question. Let's see, I'm just going to go through these kind of one by one.

Speaker Change: Yeah.

Speaker Change: Yeah.

Speaker Change: Let's see I'm, just going to go through these kind of one.

Speaker Change: One by one.

Speaker Change:

Joe Davey: So this question, when would 2025 Q1 results come out?

Speaker Change: So this question when would 2025 Q1 results come out right now we're expecting Q1 results to be out on may 15th 2025.

Joe Davey: Right now we're expecting Q1 results to be out on May 15, 2025.

[Company Representative] (Banzai): Correct.

Speaker Change: Correct.

Joe Davey: This question from Sandra Gale, are you closing on Act-On soon? You know, I can tell you, Sandra, we're actively working on this. Obviously, can't give a specific date as to when that will be complete, but I can tell you that we're making meaningful progress towards that, and we will keep you updated.

Joe Davy: This question from Sandra Gale: Are you closing on Act-On soon? I can tell you, Sandra, we're actively working on this. Obviously, can't give a specific date as to when that will be complete. I can tell you that we're making meaningful progress towards that, and we will keep you updated. Let's see. I've got a question here about when do we expect the value of the stock will return to the old value. I think that's a really great question. I think that there have been a lot of factors impacting the stock price in the last few months. I would say probably the number one factor impacting the stock price in the last month and a half has been just the general market chaos that has impacted everyone.

Speaker Change: This question from Sandra Gale as you're closing on act on soon.

Speaker Change: I can tell you Sandra were actively working on this obviously can't give a specific date as to.

Speaker Change: When that will be complete.

Speaker Change: But I can tell you that we're making meaningful progress towards that end.

Speaker Change: We will keep you updated.

Speaker Change: Okay.

Joe Davey: Let's see, I've got a question here about when do we expect the value of the stock will return to the old value? And I think that's a really great question. And you know, I think that there have been a lot of factors impacting the stock price in, you know, the last few months. I would say probably the number one factor impacting the stock price in the last a month and a half has been just the general kind of market chaos that has impacted everyone. Hopefully what we'll see is, you know, as people start to realize, investors start to realize that, you know, our business is not really impacted by any of these potential tear-ups, that we have really minimal exposure to that, and also that I think we potentially stand to do really well in an environment where customers are trying to do more with less, trying to get more efficiency out of limited marketing dollars, trying to fight for every dollar of revenue.

Speaker Change: Let's see I've got a question here about.

Speaker Change: When do we expect the value of the stock will return to the old value and I think that's a really great question.

Speaker Change: And.

Speaker Change: I think.

Speaker Change: That there've been a lot of factors impacting the stock price.

Speaker Change: In the last.

Speaker Change: Few months I would say probably the number one factor impacting the stock price in the last.

Speaker Change: Month, and a half has been just the general kind of market chaos that has impacted everyone hopefully what we'll see.

Joe Davy: Hopefully, what we'll see is as people start to realize, investors start to realize that our business is not really impacted by any of these potential tariffs, that we have really minimal exposure to that. Also that I think we potentially stand to do really well in an environment where customers are trying to do more with less, trying to get more efficiency out of limited marketing dollars, trying to fight for every dollar of revenue. I think a lot of customers turn to better marketing technology to enable that. Our hope is that the market will recognize the value that we've already created through these acquisitions. I think that we'll start to reflect the benefit of some of these acquisitions more in our GAAP financials, starting in Q1.

Speaker Change: As as people start to realize investors start to realize that our business is not really impacted by.

Speaker Change: Any of these potential tariffs.

Speaker Change: We are really minimal exposure to that and also that I think we potentially stand to do really well.

Speaker Change: In an environment, where customers are trying to do more with less trying to get more efficiency out of limited marketing dollars trying to fight for every dollar of revenue I think a lot of customers turned to better marketing technology to enable that.

Joe Davey: I think, you know, a lot of customers turn to better marketing technology to enable that, and so, you know, our hope is that the market will kind of recognize the value that we've already created through these acquisitions. I think that we'll start to reflect the benefit of some of these acquisitions more in our gap financials starting in Q1. We reflected it just in a very, very small way in Q4, but I think we'll have a more full recognition of that in Q1, and then probably an even more full recognition of it starting in Q2, and so I think we'll start to see that phase in, and hopefully that will be viewed positively by the market.

Speaker Change: So our hope is that the market will recognize the value that we've already created through these acquisitions.

Speaker Change: I think that will start to reflect.

Speaker Change: The benefit of some of these acquisitions more in our GAAP financials, starting in Q1, we reflected it just in a very very small way.

Joe Davy: We reflected it just in a very, very small way in Q4, but I think we'll have a more full recognition of that in Q1. Then probably an even more full recognition of it, starting in Q2. I think we'll start to see that phase in and, hopefully, that will be viewed positively by the market. Our view is that we're working really hard to get the stock price back up to the levels that it's been at. We certainly doing everything that we can to make that happen. Thank you for the question. I always appreciate the tough ones. Let's see. Here's a question. How's market traction been for Reach 2.0? Can you share metrics around usage growth and new customers added for Reach 2.0 since launch? Can you comment on the acquisition pipeline?

Speaker Change: In Q4, but I think we'll have a.

Speaker Change: A more full recognition of that in Q1.

Speaker Change: And then probably an even more full recognition of it starting in Q2, and so I think we'll start to see that phase in and hopefully that will be the <unk>.

Speaker Change: Jude positively by the market. So our view is that.

Joe Davey: So, you know, our view is that we're working really hard to get the stock price back up to the levels that it's been at, and, you know, we're certainly doing everything that we can to make that happen. Thank you for the question. I always appreciate the tough ones. Let's see.

Speaker Change: We're working really hard to get the stock price back up.

Speaker Change: To the levels that it's been at and.

Speaker Change: We saw.

Speaker Change: Certainly doing everything we can to make that happen.

Speaker Change: Thank you for the question.

Speaker Change: I always appreciate the tough ones.

Speaker Change: Let's see here's a question housing market traction been for reach two point or can you share metrics around usage growth of new customers added to reach two point out since launch can you comment on the acquisition pipeline are there any plans to continue. So this is just going to say it was about five questions in one but I'll just try to run through them pretty quickly.

Joe Davey: Here's a question. How has market traction been for Reach 2.0? Can you share metrics around usage growth and new customers added for Reach 2.0 since launch?

Joe Davey: Can you comment on the acquisition pipeline? Are there any plans to continue? So this is, I'll just go ahead and say there's about five questions in one, but I'll just try to run through them pretty quickly. So first of all, market traction for Reach 2.0 has been good. These customers tend to be larger customers than the average, you know, Demio or Create Studio customer. And so there's fewer of them, but they're bigger. We've also seen some cross sales. We've seen existing customers utilizing Demio, for example, starting to utilize Reach 2.0. So that's been really great.

Joe Davy: Are there any plans to continue? I'll just go ahead and say, this is about five questions in one. I'll just try to run through them pretty quickly. First of all, market traction for Reach 2.0 has been good. These customers tend to be larger customers than the average Demio or CreateStudio customer. There's fewer of them, but they're bigger. We've also seen some cross-sales. We've seen existing customers utilizing Demio, for example, starting to utilize Reach 2.0. That's been really great. I don't think we've shared any specific metrics around the breakout of customers or anything like that. I can say we've been relatively pleased with the early results. I think the product is working really well for a number of the customers that are using it.

Speaker Change: No.

Speaker Change: First of all market traction for reached you pointed out has been good these customers tend to be larger customers.

Speaker Change: Then the average vimeo or create studio customer and so there's fewer of them, but they are bigger. We've also seen some cross sales we've seen existing customers utilizing <unk> for example.

Speaker Change: Turning to utilize reach to point out so that's been really great.

Joe Davey: I don't think we've shared any specific metrics around the breakout of customers or anything like that, but I can say, you know, we've been relatively pleased with the early results. I think, you know, the product is working really well for a number of the customers that are using it. And that's really the bellwether for any new product coming to the market is, you know, can you get customers that really love the product?

Speaker Change: Think we've shared any specific metrics.

Speaker Change: Around the breakout of customers or anything like that but I can say, we've been relatively pleased with the early results I think.

Speaker Change: Product is working really well for.

A number of the customers that are using it and thats really the bellwether for any new products coming to the market is can you get customers that really loved the product.

Joe Davy: That's really the bellwether for any new product coming to the market is can you get customers that really love the product? In terms of the acquisition pipeline, look, what I'll say here is we're very focused on Act-On right now, and that's our number one priority. Obviously, that's a huge transformative acquisition for the business. I can't comment on any specific companies that we're looking at or talking to, but I can say we're receiving new opportunities coming into the pipeline almost every day, at least every week. It's definitely a focus of ours, and we're seeing some really attractive assets on the market right now. I think there's going to be, hopefully, some interesting stuff that occurs there over the rest of this year, 2025. Plan is to continue with the acquisition strategy in 2025. Obviously, we are focused on organic growth as well.

Joe Davey: In terms of the acquisition pipeline, look, what I'll say here is we're very focused on Acton right now. And that's our number one priority. Obviously, that's a huge transformative acquisition for the business. I can't comment on any specific companies that we're looking at or talking to, but I can say, you know, we're receiving new, you know, opportunities coming into the pipeline almost every day, at least every week. It's definitely a focus of ours. And we're seeing some really attractive assets on the market right now. So I think there's going to be hopefully some interesting stuff that occurs there over the next over the rest of this year 2025.

Speaker Change: In terms of the acquisition pipeline.

Speaker Change: Look I'll, what I'll say here is we're very focused on act on right now and that's our number one priority obviously, that's a huge transformative acquisition for the business.

Speaker Change: I can I can't comment on any specific companies that we're looking at or talking to but I can say.

Speaker Change: We're receiving.

Speaker Change: New.

Speaker Change: Opportunities.

Speaker Change: Coming into the pipeline.

Speaker Change: Almost every day at least every week.

Speaker Change: It's definitely a focus of ours and we're seeing some really attractive assets on the market right now so.

Speaker Change: I think theres going to be hopefully some.

Speaker Change: Interesting stuff that occurs there over the next over the rest of this year 2025.

Joe Davey: plan is to continue with the acquisition strategy in 2025. Obviously, we are focused on organic growth as well. So we've got an operating business that we're growing organically, adding new customers, cross-selling. And then we're also looking at things that are, you know, value added to our customer base. One of the key things that we're always looking at is basically, do we think there's gonna create shareholder value or not? So, you know, I've heard comments from people about, you know, dilution and things like that. You know, we're always focused on, anytime we buy an asset, we think we're getting more than we're paying for it.

Speaker Change: Plan is to continue with the acquisition strategy in 2025.

Speaker Change: Obviously, we are focused on organic growth as well. So we've got an operating business that were growing organically, adding new customers cross selling.

Joe Davy: We've got an operating business that we're growing organically, adding new customers, cross-selling, and then we're also looking at things that are value add to our customer base. One of the key things that we're always looking at is basically, do we think this is going to create shareholder value or not? I've heard comments from people about dilution and things like that. Anytime we buy an asset, we think we're getting more than we're paying for it. We think that it's a one plus one equals three, and then our job is to run it well. In terms of Q4 net revenue retention, I don't think we disclosed a specific number, but I can say that Q4 net revenue retention hit a historic high. We saw very strong retention and expansion in Q4 compared to prior periods.

Speaker Change: And then we're also looking at things that are value added to our customer base one of the key things that we're always looking at.

Speaker Change: Is basically do we think there is going to create great shareholder value. We're not so I've heard comments from people about dilution and things like that.

Speaker Change: We're always focused on anytime we buy an asset we think we're getting more than we're paying for it. So we think that it's a one plus one equals three.

Joe Davey: So we think that, you know, it's a one plus one equals three and, you know, and then our job is to run it well.

Speaker Change: And.

Speaker Change: And then and then our job is to run it well.

Joe Davey: um In terms of Q4 net revenue retention, I can say, I don't think we disclosed a specific number, but I can say that Q4 net revenue retention hit a historic high. So we saw very strong retention and expansion in Q4 compared to prior periods.

Speaker Change:

Speaker Change: In terms of Q4 net revenue retention I can say I don't think we disclose a specific number but I can say that Q4 net revenue retention hit a historic high.

Speaker Change: So we saw very strong.

Speaker Change: Retention and expansion in Q4 compared to prior periods.

Joe Davey: And in terms of traction and specific verticals, I would say, you know, the ones that stand out to me as being the interesting opportunities right now are things like healthcare, financial services, insurance. We're seeing a lot of customer inbound, a lot of traction in those areas. We're also seeing opportunities with things in the data center space. You know, the cloud space. So I don't think we're, you know, we're not a business that's really built on going after any specific vertical. We're very diversified business. But I think there's a lot of opportunities in those areas.

Joe Davy: In terms of traction in specific verticals, I would say, the ones that stand out to me as being the interesting opportunities right now are things like healthcare, financial services, and insurance. We're seeing a lot of customer inbound, a lot of traction in those areas. We're also seeing opportunities with things in the data center space, the cloud space. We're not a business that's really built on going after any specific vertical. We're a very diversified business. I think there's a lot of opportunities in those areas, and we are looking at, are there specific things that we can go after in a specific vertical, specific use case for that vertical that we can build and we can own and be better than anybody else in that space. That's a big focus of ours right now. Thank you for the questions.

Speaker Change: And in terms of traction in specific verticals I would say the ones that.

Speaker Change: Stand out to me as being the interesting opportunities right now.

Speaker Change: Or are things like healthcare financial services.

Speaker Change: Insurance we're.

Speaker Change: We're seeing a lot of customer inbound a lot of traction in those areas.

Speaker Change: We're also seeing opportunities with.

Speaker Change: Things in the data center space.

Speaker Change: The cloud space. So I don't think we are.

Speaker Change: We're not a business that's really built on going after any specific vertical we're very diversified business.

Speaker Change: But I think there is.

Speaker Change: A lot of opportunities in those areas and we are looking at are there specific things that we can go after in a specific vertical specific use case for that vertical that we can build and we can own and be better than anybody else in that space. So that's a big focus of ours right now.

Joe Davey: And we are looking at, are there specific things that we can go after in a specific vertical, you know, specific use case for that vertical that we can build and we can own and be better than anybody else in that space. So that's a big focus of ours right now.

Speaker Change: Thank you for the questions.

Joe Davey: Okay, this is a good one. How's the integration with the new acquisitions going? I'll say I've already addressed the Act On question, so I won't touch that one again, but I'll say the integrations are going... Really fabulously, in my opinion. I think the teams are getting along really well. Been really impressed by how quickly everyone has started thinking of themselves as part of Team Banzai. We've already got customer cross-sales with every product, I think. Maybe there's one that's pending right now on a kind of enterprise deal. So we've already got a big pipeline for cross-sales across all the products.

Joe Davy: Okay, this is a good one. How's the integration with the new acquisitions going? I'll say I've already addressed the Act-On question, I won't touch that one again. I'll say the integrations are going really fabulously in my opinion. I think the teams are getting along really well. Been really impressed by how quickly everyone has started thinking of themselves as part of Team Banzai. We've already got customer cross-sales with every product, I think. Maybe there's one that's pending right now on a kind of enterprise deal. We've already got a big pipeline for cross-sales across all the products. Starting to see the first deals close. Product integrations are in the works. Product management is starting to think about this as a single video business unit. That's going really well.

Speaker Change: Okay. This is a good one how is the integration with the new acquisition is going.

Speaker Change: I'll say I've already addressed the act on questions. So I won't touch that one again, but I'll say the integrations are going.

Speaker Change: Really fabulously in my opinion.

Speaker Change: I think the teams are getting along really well I've been really impressed by how quickly everyone, who started thinking of themselves as part of team Banzai.

Speaker Change: We've already got customer cross sales with every product I think maybe there is one that's pending right now.

Speaker Change: Kind of enterprise deal so.

Speaker Change: We've already got a big pipeline for cross sales across all the products starting to see the first deals close.

Joe Davey: Starting to see the first deals close. Product integrations are in the works. Product management is starting to think about this as a single video business unit, and that's going really well.

Speaker Change: Product integrations are in the works.

Speaker Change: Product management is starting to think about this as a single.

Speaker Change: Video business unit, and that's going really well.

Joe Davey: And I think with Acton, we're thinking about that as a kind of a separate business unit, a marketing automation business unit that will expand the capabilities beyond that when it closes. So that's really exciting.

Joe Davy: I think with Act-On, we're thinking about that as a kind of a separate business unit, a marketing automation business unit that will expand the capabilities beyond that when it closes. That's really exciting. Thanks for the question. Let's see. Edward asked, I think we've kind of already touched on this, but I think one important question here is, will you need to focus on integrations of the three recent acquisitions first before you pursue new ones? I'll say, first of all, like I said, we're actively working on getting Act-On closed, but I think the way that the integrations have gone, we've been really, really pleased with them, and we don't foresee integration being a major barrier to doing additional acquisitions. I think we've got a great playbook for this. We've done a number of these now.

Speaker Change: And I think with with act on we're thinking about that as a kind of a separate business in the marketing automation business units that will expand the capabilities.

Speaker Change: <unk>.

Speaker Change: And that when it closes so that's really exciting.

Joe Davey: Thanks for the question. Let's see.

Speaker Change: Thanks for the question.

Speaker Change: Let's see.

Joe Davey: Edward asked, I think we've kind of already touched on this, but I think one important question here is, will you need to focus on integrations of the three recent acquisitions first before you pursue new ones? I'll say we're, first of all, like I said, we're actively working on getting Act On closed, but I think the way that the integrations have gone, we've been really, really pleased with them, and we don't foresee integration being a major barrier to doing additional acquisitions. I think we've got a great playbook for this. We've done a number of these now.

Speaker Change: Edward asked.

Speaker Change: I think we've kind of already touched on this but I think one important question.

Speaker Change: Here is what you need to focus on integration of the three recent acquisitions first before you put some new ones.

Speaker Change: Hey.

Speaker Change: First of all like I said, we're actively working on getting act on closed but.

Speaker Change: I think the way that the integrations have gone we've been really really pleased with them and we don't foresee.

Speaker Change: Integration being a major barrier to doing additional acquisitions I think we've got a great playbook for this we've done a number of these now.

Joe Davy: We're starting to build a muscle around this, and I think we could easily go do a couple more this year and continue to see some of that scale. Again, hopefully find some of these opportunities that are profitable, growing, have great products, sticky customers. The number one thing that we look at is, does this solve a new problem for our customer base? That's definitely still a focus for us. Thank you for the question. Okay, this question. How's the launch of Curate and Reach 2.0 performed? I mentioned a little bit about Reach 2.0. This is asking about Curate as well. I mean, Curate, first of all, launched, I think, just at the end of Q3 or the beginning of Q4. This is a pretty new product for us.

Joe Davey: We're starting to build a muscle around this. And I think we could easily go do a couple more, you know, this year, and continue to see some of that scale. And again, hopefully find some of these opportunities that are, you know, profitable, growing, have great products, sticky customers. And, you know, the number one thing that we look at is does this solve a new problem for our customer base? So that's definitely still a focus for us. Thank you.

Speaker Change: We're starting to build our muscle around this.

Speaker Change: And I think we could easily go do a couple more.

Speaker Change: This year and continue to see some of that scale and again hopefully find some of these opportunities that are profitable growing have great products sticky customers.

Speaker Change: And.

Speaker Change: The number one thing that we look at is does it solve a new problem for our customer base. So.

Speaker Change: That's definitely still a focus for us. Thank you for the question.

Speaker Change: Yes.

Joe Davey: Okay, this question, how's the launch of Curate and Reach 2.0 performed? I mentioned a little bit about Reach 2.0. I'll say, this is asking about Curate as well. I'll say, I believe we've got something like, I mean, Curate, first of all, launched I think just at the end of Q3, the beginning of Q4. So this is a pretty new product for us. I think, I wanna say this launched in October, November. So this is pretty new for us. But I think we've already got 12 or 13 workspaces live on this now. And so we're starting to see a lot of traction with Curate.

Speaker Change: Okay. This question how is the launch of cure and reached two point outperformed I mentioned, a little bit about reached two point out I'll say this is asking about curated as well.

Speaker Change: I'll say I believe we've got.

Speaker Change: Something like.

Speaker Change: I'm curious first of all launched.

Speaker Change: I think just just at the end of Q3, the beginning of Q4.

Speaker Change: So this is a pretty new products, whereas I think I want to say this launched in October November. So this is pretty new for us.

Joe Davy: I want to say this launched in October or November, so this is pretty new for us. I think we've already got 12 or 13 workspaces live on this now. We're starting to see a lot of traction with Curate. We've made a lot of improvements to the product based on initial customer feedback and stuff like that. Starting to get customers live on it, so I think it's going really well. I think our sales team is continuing to field interest around it. One thing that's been really interesting is we've seen a lot of customers that want to buy several of these products together. We've had a lot of opportunities come up for things like Demio, Reach, and Curate as a single bundle. I think that's going to be really interesting. Thank you for the question.

Speaker Change: But I think we've already got 12 or 13 Workspaces live on this now.

Speaker Change: And we're so we're starting to see a lot of traction with great.

Joe Davey: We've made a lot of improvements to the product based on initial customer feedback and stuff like that. Starting to get customers live on it. So I think it's going really well. And I think our sales team is continuing to field interest around it. One thing that's been really interesting is we've seen a lot of customers that wanna buy several of these products together. So we've had a lot of opportunities come up for things like Demio, Reach and Curate as a single bundle.

Speaker Change: We've made a lot of improvements to the product based on initial customer feedback and stuff like that.

Speaker Change: Starting to get customers live on it so I think it's going really well and I think our sales team is continuing to field interest around it.

Speaker Change: One thing that's been really interesting is we've seen a lot of customers that.

Speaker Change: That one by several of these products together. So we've had a lot of opportunities to come up for things like <unk> reach and cure rate is a single bundle and.

Joe Davey: And so I think that's gonna be really interesting.

Speaker Change: And so I think that's going to be really interesting.

Joe Davey: um So thank you for the thank you for the question. Patrick says, for the coming year, adding the first quarter acquisition back, I see revenues of $50 million and share count of $50 million. Can you please comment on this? I would say, look, directionally, that's probably about right. I think that you can work backwards in terms of your math to figure out what an appropriate, you know, share price would be under that, but, you know, I think it's probably north of where it is right now. You know, we've seen companies like Adobe that are trading for, I want to say, the last I looked at it was trading for about a 9.8 times revenue multiple.

Speaker Change: So thank you for the thank you for your question.

Speaker Change: Patrick says for the coming year, adding in the first quarter acquisition of Mac IC revenues of $50 million in share count of 50.

Joe Davy: Patrick says, "For the coming year, adding the first quarter acquisition of Act-On, I see revenues of $50 million and share count of 50 million. Can you please comment on this? I would say, look, directionally, that's probably about right. I think that you can work backwards in terms of your math to figure out what an appropriate share price would be under that. I think it's probably north of where it is right now. We've seen companies like Adobe that are trading for, I want to say, the last I looked at it, was trading for about a 9.8x revenue multiple. There are definitely businesses in the space with very attractive revenue multiples, and hopefully we'll start to realize a multiple more in that range. I think we shared earlier that we see gross margin definitely improving this year.

Speaker Change: $50 million can you. Please comment on this I would say look directionally, that's probably about right.

Speaker Change: I think that you can work backwards in terms of your math to figure out what an appropriate share price would be under that but.

Speaker Change: I think it's probably north of where it is right now.

Speaker Change: We've seen companies like Adobe that are trading for I won't say the last I looked at it was trading for about nine eight times revenue multiple so.

Joe Davey: So there are definitely businesses in the space with very attractive revenue multiples, and hopefully we'll start to realize a multiple more in that range. I think we shared earlier that, you know, we see gross margin definitely improving this year. I would say gross margin will probably be north of 80% for the year, and, you know, or at least in that range. And we are looking at positive net income for this year, hopefully, and I think Acton is accretive to all of those things. So, you know, it will add to revenue, it will add to net income, and it will probably contribute positively to gross margin as well once that closes.

Speaker Change: There are definitely businesses in this space with a very attractive revenue multiples and hopefully we'll start to realize a multiple more in that range.

Speaker Change: I think we shared earlier that.

Speaker Change: We see.

Speaker Change: Gross margin definitely improving this year.

Joe Davy: I would say gross margin will probably be north of 80% for the year, or at least in that range. We are looking at positive net income for this year, hopefully. I think Act-On is accretive to all of those things. It will add to revenue, it will add to net income, and it will probably contribute positively to gross margin as well once that closes. Thank you for the question, Patrick. Do I think the stock price will go up with the 2024 earnings? Well, I certainly hope so. It certainly looks like it has today, so that's positive. Hopefully, it continues to go up. Thank you for the question. I certainly think pretty much everything in our Q4 in 2024, there's a lot of positive news here to digest for the market.

Speaker Change: I would say gross margin will probably be north of 80%.

Speaker Change: For the year end.

Speaker Change: Or at least in that range.

Speaker Change: And we are looking at positive.

Speaker Change: Net income for this year, hopefully and I think act on is accretive to all of those things. So we will add to revenue it will add to net income.

Speaker Change: And it will probably contribute positively to gross margin as well once that closes. So thank you for the question Patrick.

Joe Davey: So thank you for the question. Do I think the stock price will go up with the 2024 earnings? Well, I certainly hope so. It certainly looks like it has today, so that's positive. Hopefully, it continues to go up.

Speaker Change: Okay.

Speaker Change: Do I think the stock price will go up with the 2024 earnings well I certainly hope so.

Speaker Change: It certainly looks like it has today.

Speaker Change: Today, So that's positive.

Speaker Change: Hopefully hopefully continues to go up.

Joe Davey: Thank you for the question. I certainly think, you know, pretty much everything in our Q4 in 2024, you know, there's a lot of positive news here to digest for the market. But I think we've made huge progress on a number of different fronts, cleaning up the balance sheet, you know, improving the, you know, improving the efficiency of the business, growing the top line, all of those things. You know, at the end of the day, I don't control the stock price, unfortunately. I wish I did, but, you know, I can control, do we run a good business and do we build a good business over time?

Speaker Change: Thank you for the question.

Speaker Change: I certainly think.

Speaker Change: Pretty much pretty much everything in our Q4 and 2024, there's a lot of positive news here to digest for the market.

Joe Davy: I think we've made huge progress on a number of different fronts. Cleaning up the balance sheet, improving the efficiency of the business, growing the top line, all of those things. At the end of the day, I don't control the stock price, unfortunately. I wish I did. I can control do we run a good business, and do we build a good business over time? Myself and the rest of the team, we're really just focused on every day trying to get more efficiency, get the balance sheet stronger, look at interesting businesses that we think strengthen our overall business. That's our goal. I believe over time that will build a stronger business and hopefully that will be reflected in our stock price. Thank you for the question. Okay, here's a question.

Speaker Change: I think we've made huge progress on a number of different fronts.

Speaker Change: Cleaning up the balance sheet.

Speaker Change: Improving the.

Speaker Change: Improving the efficiency of the business.

Speaker Change: Growing the top line all of those things.

Speaker Change: At the end of the day I don't control the stock price. Unfortunately.

Speaker Change: Ted.

Speaker Change: But I can control do we run a good business and do we build a good business over time so.

Joe Davey: So, you know, myself and the rest of the team, we're really just focused on every day trying to get more efficiency, get the balance sheet stronger, you know, look at interesting businesses that we think strengthen our overall business. So that's, that's, that's our goal. So, you know, I believe over time that will, that will, you know, build a stronger business and hopefully that will be reflected in our stock.

Speaker Change: Myself and the rest of the team we're really just focused on everyday trying to get more efficiency.

Speaker Change: Get the balance sheet stronger.

Speaker Change: Look at interesting businesses that we think.

Speaker Change: Strengthen our overall business so that's.

Speaker Change: That's our goal so I believe over time that will.

Speaker Change: That will build a stronger business and hopefully that will be reflected in our stock price.

Joe Davey: Thank you for the question. Okay, here's a question.

Speaker Change: Thank you for the question.

Okay.

Speaker Change: Okay. Here's a question what are you seeing in terms of web traffic and sales for Q1 2025, I can say.

Joe Davey: What have you seen in terms of web traffic and sales for Q1 2025? I can say, you know, first of all, we got a lot of websites because each of our products tends to sell through its own website. So we have a website for OpenReel, a website for Create Studio, a website for Demio. So, you know, I don't know that I can comment specifically on web traffic, but what I can comment on is, I think we saw really strong efficiency numbers in Q1. We launched a new website for the OpenReel business. That's gone really well since launch.

Joe Davy: What have you seen in terms of web traffic and sales for Q1 2025? I can say, first of all, we got a lot of websites because each of our products tends to sell through its own website. We have a website for OpenReel, a website for CreateStudio, a website for Demio. I don't know that I can comment specifically on web traffic, but what I can comment on is I think we saw really strong efficiency numbers in Q1. We launched a new website for the OpenReel business. That's gone really well since launch. We launched a new version of our CreateStudio product, CreateStudio 4. That had a tremendous sales response. We continue to see just a steady increase in efficiency of ROAS and sales efficiency for that product. I think Q1 was generally very positive.

Speaker Change: First of all we've got a lot of web sites, because each of our products tends to sell through its own.

Speaker Change: Through its own website. So we have a website for open <unk> website for create studio website for Vimeo.

Speaker Change: So I don't know that I can comment specifically on web traffic, but what I can comment on is I think we saw really strong.

Speaker Change: Efficiency numbers in Q1, we launched a new website.

Speaker Change: For the open real business.

Speaker Change: That's gone really well since launch.

Joe Davey: We launched a new version of our Create Studio product, Create Studio 4. That had a tremendous sales response. And we continue to see just a steady increase in efficiency of ROAS and, you know, sales efficiency for that product. So I think Q1 was generally very positive.

Speaker Change: We launched a new version of our create studio product create studio for that had a tremendous sales response.

Speaker Change: And we continue to see just a steady increase in efficiency of ROE as in.

Speaker Change: Sales efficiency for that product, so I think I think Q1.

Speaker Change: <unk> was.

Speaker Change: It was generally very positive.

Joe Davey: We're looking forward to sharing the Q1 numbers in about a month. So thank you for the question.

Joe Davy: We're looking forward to sharing the Q1 numbers in about a month. Thank you for the question. The question is for Act-On, would you expect that to be in Q1? If it closes sooner, it would be on Q2. The way GAAP accounting works is the financials of the acquired company are only integrated in post-closing. Our Q4 only included just a sliver of OpenReel because it was closed, I think, 13 days prior to the end of the quarter. We're expecting those results will be realized fully in Q1. In Q1, we closed on Vidello. We're going to recognize 2 months of that in Q1. If we close Act-On, let's say we close Act-On tomorrow.

We're looking forward to sharing the Q1 numbers in about a month. So thank you for the question.

Joe Davey: So the question is for Act-On, would you expect that to be in Q1 if it closes soon, or would it be on Q2? So the way GAAP accounting works is the financials of the acquired company are only integrated in post-closing. So, you know, RQ4 only included just a sliver of OpenREAL because it was closed, I think, 13 days prior to the end of the quarter. So we're expecting those results will be realized fully in Q1. And then in Q1, we closed on Videlo. So we're going to recognize two months of that in Q1. If we close Act-On, like let's say we close Act-On tomorrow, I'm not saying that's going to happen, but I'm saying is let's say we did, then it would only be from April 16th onward that we would include it.

Speaker Change: So the question is for act on would you expect that to be in Q1, it's closed sooner beyond Q2.

Speaker Change: No.

GAAP accounting works is the financials.

Speaker Change: Acquired company are only integrated in post closing so.

Speaker Change: Our Q4 only included just a sliver of open real because it was closed I think 13 days prior to the end of the quarter.

Speaker Change: So we're expecting those results will be realized fully in Q.

Speaker Change: Q1, and then in Q1, we closed on Modelo, So we're going to recognize.

Speaker Change: Two months of that in Q1.

Speaker Change: We close act on like let's say, we close act on Tomorrow.

Joe Davy: I'm not saying that's going to happen, but I'm saying is let's say we did, then it would only be from April 16th onward that we would include it. That would be included in Q2. Just to clarify, that's more of a GAAP accounting issue, I think we're going to see the acquisition financials integrated more in Q1, probably more in Q2, and hopefully onward from there. Thank you for the question. Let's see. This is a great question. Have you noticed any big change with lead times for sales cycles, signing new customers? Are CTOs and marketing departments more cautious about entering, acquiring, renewing new enterprise software? I will say, I'll just give you a couple anecdotes here. Our velocity right now is well below our target, which is a good thing, right? Velocity means how long does it take us to close a customer.

Speaker Change: That's gonna have I'm, saying is let's say we did then it would only be from April 16th onwards. We would include it so that would that would be included in Q2.

Joe Davey: So that would that would be included in Q2. Just to clarify, that's more of a GAAP accounting issue, but I think, you know, we're going to see the acquisition financials integrated more in Q1, probably more in Q2, and hopefully onward from there. Thank you for the question.

Speaker Change: Just to clarify that's more of a GAAP accounting issue, but.

Speaker Change: But I think we're going to see.

Speaker Change: The acquisition financials integrated.

Speaker Change: More in Q1, probably more in Q2 and hopefully onward from there. Thank you for the question.

Speaker Change: Okay.

Joe Davey: Let's see... This is a great question. Have you noticed any big change with lead times for sales cycles, signing new customers, are CTOs and marketing departments more cautious about entering and acquiring or renewing new enterprise software?

Speaker Change: Let's see.

Speaker Change: This is a great question have you noticed any big change with lead times for sales cycles, signing new customers. Our CTO is marketing departments more cautious about entering requiring renewing new enterprise software.

Joe Davey: I will say, I'll just give you a couple anecdotes here. Our velocity right now is well, well, well below our target, which is a good thing, right? Velocity means how long does it take us to close a customer? And so we're beating that velocity target on every product line, I think, right now. I'll also say, you know, We're not seeing, I don't think we're seeing customers being more cautious. I actually think we're seeing the opposite. We're seeing customers that are locking in longer term contracts to secure larger discounts. So I can say, you know, we just signed a five-year contract a couple of weeks ago.

Speaker Change: I will say.

Speaker Change: Just give you a couple of anecdotes here.

Speaker Change: Our our velocity right now is.

Speaker Change: Well well well below.

Speaker Change: Our target, which is a good thing right velocity means how long does it take us to close the customer so.

Joe Davy: We're beating that velocity target on every product line, I think, right now. I'll also say, I don't think we're seeing customers being more cautious. I actually think we're seeing the opposite. We're seeing customers that are locking in longer-term contracts to secure larger discounts. I can say we just signed a 5-year contract a couple of weeks ago. I don't think I can disclose what customer it was with right now, but we signed a 5-year contract with a customer that's a meaningful revenue to the company. They were able to lock in a discount over that period of time, which is good for them, and we were able to lock that customer in for 5 years, which is obviously good for us.

Speaker Change: We're beating that.

Speaker Change: <unk> target.

Speaker Change: On every product line I think right now.

Speaker Change: I'll also say.

Speaker Change: You know.

Speaker Change: We're not seeing.

Speaker Change: I don't think were seeing.

Speaker Change: Customers being more cautious I actually think we're seeing the opposite we're seeing customers that are locking in longer term contracts to secure larger discounts. So I can say we just.

Speaker Change: Signed a five year call.

Speaker Change: Contract a couple of weeks ago, I don't think I can disclose what customers with.

Joe Davey: I don't think I can disclose what customer it was with right now, but we signed a five-year contract with a customer that's a meaningful, you know, meaningful revenue to company. And, you know, they were able to lock in a discount over that period of time, which is good for them. And we were able to lock that customer in for five years, which is obviously good for us. So we've signed a number of these multi-year renewals in the last 90 days. And I think we're looking to do more of that. And in a lot of cases, customers are looking to lock in longer term cost savings and use that as an opportunity.

Speaker Change: Right now, but we signed a five year contract.

Speaker Change: With a customer that are meaningful.

Speaker Change: Meaningful revenue to the company.

Speaker Change: And.

Speaker Change: They were able to lock in a discount over that period of time, which is good for them and we were able to lock that customer in for five years, which is obviously good for us so.

Joe Davy: We've signed a number of these multiyear renewals in the last 90 days, and I think we're looking to do more of that. In a lot of cases, customers are looking to lock in longer-term cost savings and use that as an opportunity. I think when you've got a mission-critical product, customers aren't. It's not as much of a question of the renewal or not. A lot of times, it's a question of what's the structure that's going to be most efficient for them in terms of value. We can do something where we give the customer a little more value by offering them a multiyear contract. Look, I think that benefits both us and the customer. We like those situations. Thank you for the question. Why do all these acquisitions not translate into the share price increasing? That's a fantastic question.

Speaker Change: Signed a number of these multi year renewals in the last 90 days and I think we're looking to do more of that and a lot of cases customers are looking to.

Speaker Change: Lock in longer term cost savings and use that as an opportunity. So I think when you've got a mission critical products.

Joe Davey: So I think when you've got mission-critical products, you know, customers aren't You know, it's not as much of a question of the renewal or not. It's a lot. A lot of times it's a question of, you know, what's the what's the structure that's going to be most efficient for them in terms of value. And so we can do something where we get the customer a little more value by offering them a multi-year contract. Look, I think that benefits both us and the customers. So we like those situations. Thank you for the question.

Speaker Change: Customers aren't aren't.

Speaker Change: It's not as much of a question of the renewal or not it's a lot of times. It's a question of you.

Speaker Change: What's the.

Speaker Change: What's the structure thats going to be most efficient for them in terms of value and so we can do something where we give the customer a little more value by offering them a multi year contract look I think that benefits both us and the customers. So we like those situations.

Speaker Change: Thank you for the question.

Joe Davey: Why do all these acquisitions not translate into this share price increasing? I mean, that's a fantastic question. Again, I wish I knew, you know, why the share price, you know, the market has not responded better to a lot of the news that we've put out. I think the news we put out is phenomenal. I think, you know, you can go to PitchBook and you can look up, you know, companies are transacting at. But I think the last number that I saw was the average acquisition was something like 4.8x next 12-month revenue. And, you know, so far next 12-month revenue is $20 million.

Why do all of these acquisitions not translate into the share price increasing I mean, that's a fantastic question again.

Joe Davy: Again, I wish I knew why the share price, the market has not responded better to a lot of the news that we've put out. I think the news we put out is phenomenal. I think you can go to PitchBook and you can look up what companies are transacting at. I think the last number that I saw was the average acquisition was something like 4.8x next 12-month revenue. If our next 12-month revenue is $20 million, you could infer that that would put us somewhere in the $90 to $100 million range in terms of what somebody would be willing to pay for the company today. Now, I'm not saying that's the case. I'm not saying that we're looking to sell the company. We're not, because I think we have a lot more value that we can create here.

Speaker Change: I wish I I wish I knew.

Speaker Change: <unk>.

Speaker Change: Why.

Speaker Change: Share price.

Speaker Change: The market has not responded.

Speaker Change: Better to a lot of the news that we've put out I think the news we put out is phenomenal I think.

Speaker Change: You can you can go to pitch book and you can look up.

Speaker Change: What companies are are transacting at but I think the last number that I saw was the average.

Speaker Change: Sure.

Speaker Change: Acquisition was something like $4 eight acts.

Speaker Change: Next 12 month revenue.

Speaker Change: And so for our next 12 month revenue is $20 million.

Joe Davey: You know, you could infer that, you know, that would put us somewhere in the $90-$100 million range in terms of, you know, what somebody would be willing to pay for the company today. Now, you know, I'm not saying that's the case. I'm not saying that we're looking to sell the company. We're not, because I think we have a lot more value that we can create here. But I do think the share price right now is silly. So, you know, hopefully the market will start to recognize and start to price in some of the, you know, some of the huge milestones that we've achieved in the last 90 days.

Speaker Change: You could infer that that would put us somewhere in the $90 million to $100 million range in terms of.

Speaker Change: What somebody would be willing to pay for the company today now.

Speaker Change: I'm not saying, that's the case I'm not saying that we're looking to sell the company we're not.

Speaker Change: Because I think we have a lot more value that we can create here, but I.

Joe Davy: I do think the share price right now is silly. Hopefully, the market will start to recognize and start to price in some of the huge milestones that we've achieved in the last 90 days. Frankly, that's one reason that we're really excited to get this report out, because I think putting out 2024 helps. I think putting out Q1 will help. Really, I think hopefully the market will continue to respond. Thank you for the question. Here's a question from Van. Is Banzai open to the possibility of being acquired by some large cap MarTech company, and what's your opinion on the likelihood of that happening? You also mentioned hard work on showing profitability. Is it realistic for investors to expect that? If so, when do you think that you can deliver on that promise? Thanks. This is a great question, Van.

Speaker Change: I do think the share price right now is silly.

Speaker Change: So.

Speaker Change: Hopefully the market will.

Speaker Change: Start to recognize and start to price and.

Speaker Change: Some of the.

Speaker Change: Some of the huge milestones that we've achieved.

Joe Davey: And, you know, frankly, that's one reason that we're really excited to get this report out, because I think putting out 2024 helps. I think putting out Q1 will help. But, you know, really, I think hopefully the market will continue to respond. So thank you for the question.

Speaker Change: Last 90 days and frankly, that's one reason that we're really excited to get this report out because I think putting out 2024 helps I think putting out Q1 will help.

Speaker Change: But really I think hopefully the market will continue to respond. So thank you for the question.

Joe Davey: Here's a question from Van. Is Banzai open to the possibility of being acquired by some large-cap MarTech company? And what's your opinion on the likelihood of that happening? You also mentioned hard work on showing profitability. Is it realistic for investors to expect that? And if so, when do you think that you can deliver on that promise?

Speaker Change: Here's a question from van as bonds I open to the possibility of being acquired by some large cap Martech company and what's your opinion on the likelihood of that happening.

Speaker Change: You also mentioned hard work on showing profitability is it realistic to investors should expect that and if so when do you think that you can deliver on that promise.

Joe Davey: This is a great question, Van. Thank you. So let me start with the first one. I kind of just addressed this, but I frankly, you know, I would say We have been approached by a couple of folks. I'm not saying whether, you know, anything has come of that. We had very casual conversations. But I would say, definitely we are... Definitely our view is that there's more value still for us to create in this business. And so, you know, I think we're very, very focused on continuing to scale the business up, continuing to execute. I think this business is even more valuable when we get to $100 or $200 or $500 million in revenue.

Speaker Change: This is a great question Dan. Thank you. So let me start with the first one.

Joe Davy: Thank you. Let me start with the first one. I kind of just addressed this. I frankly, I would say we have been approached by a couple of folks. I'm not saying whether anything has come of that. Very casual conversations. I would say definitely our view is that there's more value still for us to create in this business. I think we're very focused on continuing to scale the business up, continuing to execute. I think this business is even more valuable when we get to 100 or 200 or 500 million in revenue. Right now our heads are down. We're very focused on trying to get to those milestones, very focused on trying to close Act-On, very focused on trying to look at the opportunities beyond that, continue to manage the business well, continue to grow organically, all of that.

Speaker Change: <unk>.

Speaker Change: Kind of just addressed this.

Speaker Change: But I frankly.

Speaker Change: I would say.

Speaker Change: We have been approached by a couple of folks im not saying whether.

Speaker Change: Anything is coming out very casual conversations.

Speaker Change: But I.

Speaker Change: I would say.

Speaker Change: Definitely we are.

Speaker Change: Definitely our view is that there is more value still for us to create in this business and so I think we're very very focused on continuing to scale the business up continuing to execute I think this business is even more valuable when we get to a 100 or 200 or $500 million.

Speaker Change: Revenue and so.

Joe Davey: And so, you know, right now our heads are down. We're very focused on trying to get to those milestones, very focused on trying to close on trying to look at the, you know, the opportunities beyond that, continue to manage the business well, continue to grow organically, all of that. So you know, right now we're just very focused on our knitting. And I think You know, there may be opportunistic things that happen in the future, but can't really comment on that very specifically right now, but definitely appreciate the question. you know, I think we'll see what happens.

Speaker Change: Right now our heads are down we are very focused on trying to get to those milestones three focus on trying to close act on very focused on trying to look at the many opportunities beyond that continue to manage the business well continue to grow organically all of that so.

Joe Davy: Right now we're just very focused on our knitting. I think there may be opportunistic things that happen in the future, but can't really comment on that very specifically right now. Definitely appreciate the question, and I think we'll see what happens. We create a really valuable business. I think as a general heuristic I've always had in my life, I think you create a valuable business, there's people that want to own that business. I'll just kind of leave that at that. Your second question here is about profitability. I think, as we said earlier, we are forecasting to show profitability in 2025.

Speaker Change: Right now, we're just very focused on.

Speaker Change: On on our knitting and I think.

Speaker Change: No.

Speaker Change: There may be opportunistic things that happen in the future.

Speaker Change: But can't really comment on that very specifically right now.

Speaker Change: But definitely appreciate the question.

Speaker Change: I think we'll see what happens we.

Joe Davey: We create a really valuable business. I think, you know, as a general heuristic I've always had in my life, I think you create a valuable business, there's people that want to own that business.

Speaker Change: We create a really valuable business I think as a general heuristic I've always had in my life. I think you can create a valuable business theres people that want to own that business.

Joe Davey: So I'll just kind of leave that at that.

Speaker Change: So I'll just kind of leave that at that.

Joe Davey: Your second question here is about profitability. I think, as we said earlier, we are forecasting to show profitability in 2025. So I think I can't comment on exactly when that's going to happen, but I think I'll just say, you know, we think that we are going to reflect a lot of the benefit of the acquisitions and other things that we've done strategically. The, you know, debt repayments, things like that. A lot of that will be reflected in Q1. I think it'll be fully, you know, more fully reflected in Q2. So hopefully as those things start to more fully reflect, the business will get more profitable.

Speaker Change: Your second question here is about profitability I think as we said earlier we are.

Forecasting to show profitability in 2025 so.

Joe Davy: I can't comment on exactly when that's going to happen, but I think I'll just say we think that we're going to reflect a lot of the benefit of the acquisitions and other things that we've done strategically, the debt repayments, things like that. A lot of that will be reflected in Q1. I think it'll be more fully reflected in Q2. Hopefully, as those things start to more fully reflect, the business will get more profitable and I think that people will hopefully be pleased with the financial results we deliver this year. I think at the end of the day, profitability is the result of having a great business that's operated efficiently. Having great products, great customer relationships, great processes, great discipline. That's really where our head's at right now, is working on that.

Speaker Change: I think I can't comment on exactly when that's going to happen, but I think.

Speaker Change: I will just say, we think that we're going to reflect a lot of the benefit of the acquisitions and other things that we've done strategically.

Speaker Change: The debt repayments things like that a lot of that will be reflected in Q1, I think it will be fully more fully reflected in Q2, so hopefully as those things start to more fully reflect the business will get more profitable.

Joe Davey: And, you know, I think that, you know, people will hopefully be pleased with the financial results we deliver this year. But I think at the end of the day, you know, profitability is the result of having a great business that's operated efficiently. So having great products, great customer relationships, you know, great processes, great, you know, discipline. And so that's, that's really where our heads at right now is working on that. And I believe that that will show up in terms of profitability over time in the business. So thanks for the question.

Speaker Change: And.

Speaker Change: I think that.

Speaker Change: I think that people will hopefully be pleased with the financial results. We delivered this year, but I think at the end of the day you know profitability is the result.

Speaker Change: Having a great business operated efficiently, so having great products great customer relationships.

Speaker Change: Great processes, great discipline, and so that's really where our heads at right now is working on that and I believe that that will show up in terms of profitability over time in the business.

Joe Davy: I believe that that will show up in terms of profitability over time in the business. Thanks for the question. Finally, question here from Mohammed, How do you react on tariffs? Well, look, I'll say just objectively, personally, I'm a fan of free trade. I don't think that tariffs are good for free trade. I'm a fan of entrepreneurship, I'm a fan of innovation, I'm a fan of people being able to sell their products to customers that find them most valuable. I'm a fan of open markets. In general, I'm not a huge fan of tariffs. I also studied economics in college, so I think you're hard-pressed to find a lot of economists who are big fans of tariffs. All that being said, I don't think the tariffs really impact our business.

Speaker Change: <unk>.

Speaker Change: For the question.

Joe Davey: Finally, question here from Mohamed. How do you react on tariffs? Well look, I'll say just objectively, I personally am a fan of free trade. I don't think that tariffs are good for free trade. I'm a fan of entrepreneurship. I'm a fan of innovation. I'm a fan of people being able to sell their products to customers that find them most valuable. So, you know, I'm a fan of open markets. So in general, I'm not a huge fan of tariffs. I also studied economics in college. So, you know, I think you're hard-pressed to find a lot of economists who are big fans of tariffs.

Speaker Change: Finally, a question here from Mohamad, how do you react on tariffs.

Speaker Change: I'll say just objectively.

Speaker Change: Personally I'm a fan of free trade.

Speaker Change: I don't think that tariffs.

Speaker Change: Our goods for free trade.

Speaker Change: Fan of entrepreneurship and the fan of.

Speaker Change: Innovation I'm, a fan of people being able to sell their products to customers that find the most valuable.

Speaker Change: So I'm a fan of open markets.

Speaker Change: So in general I am not a huge fan of tariffs I also studied economics.

Speaker Change: In college so.

Speaker Change: I think you're hard pressed to find a lot of economists who are big fans of tariffs.

Joe Davey: All that being said, I don't think the tariffs really impact our business. And as I said earlier, I think they actually, you know, there's a potential that they could create a positive tailwind for us. You know, if customers decide that they need to get more efficiency in their marketing, you know, if they decide that they need to leverage more AI, that they need to leverage more automation to gain that efficiency. Look, I think that could benefit us potentially. Our products are not really the kind of products that are subject to tariffs. So, and you know, most of our customers are in the U.S.

Speaker Change: All that being said I don't think the tariffs really impact our business.

Joe Davy: As I said earlier, I think there's a potential that they could create a positive tailwind for us. If customers decide that they need to get more efficiency in their marketing, if they decide that they need to leverage more AI, that they need to leverage more automation to gain that efficiency, look, I think that could benefit us potentially. Our products are not really the kind of products that are subject to tariffs, and most of our customers are in the US anyways, so I think it's not really probably a huge concern for us. Right now, the tariffs seem like they're mainly going to end up being between the US and China as things stand today, although things have been changing fast, so it's a dynamic environment.

Speaker Change: And as I said earlier I think they actually.

Speaker Change: Tension that they could create a positive tailwind for us.

Speaker Change: If customers decide that they need to get more efficiency in their marketing if they decide that they need to leverage more AI that they need delivered more automation.

Speaker Change: Again that efficiency look I think that could benefit us potentially.

Speaker Change: Our products are not really the kind of products that are subject to tariff. So.

And most of our customers are.

Speaker Change: In the U S.

Joe Davey: anyways. So I think it's not really probably a huge concern for us. I don't think we don't really, right now the tariffs seem like they're mainly going to end up being between the U.S. and China as things stand today. Although, you know, things have been changing fast, so it's a dynamic environment. But, you know, the Chinese market is not an important market for us as a business as it stands today. And so, you know, I don't really see the tariffs impacting our business adversely at all, but I appreciate the question and definitely it's something that we're getting asked about from time to time, because definitely people are curious about it and they're wondering what's going on.

Speaker Change: Anyway, So I think it's not really probably a huge concern for us I don't think.

Speaker Change: We don't really.

Speaker Change: Now the tariffs seem like they're mainly going to end up being between the U S and China as things stand today, although things have been changing fast so it's a dynamic environment.

Joe Davy: The Chinese market is not an important market for us as a business as it stands today, and so I don't really see the tariffs impacting our business adversely at all. I appreciate the question, and definitely it's something that we're getting asked about from time to time, because definitely people are curious about it, and they're wondering what's going on. Thank you for asking. Okay. I hope that was helpful. I believe that's all the questions. I will just say thank you all for joining the conference call today. Look forward to updating you on our ongoing achievements, innovations, and growth. If we were unable to answer any of your questions, please reach out to our IR firm, NZ Group, who would be more than happy to assist.

Speaker Change: But the Chinese market is not an important market for us as a business.

Speaker Change: As it stands today and so I don't really see the tariffs impacting our business.

Speaker Change: Adversely at all but I appreciate.

Speaker Change: The question and definitely it's something that we are getting asked about from.

Speaker Change: From time to time, because definitely people are curious about it and they're wondering what's going on so.

Joe Davey: So thank you for asking.

Speaker Change: Thank you for asking.

Joe Davey: Okay, I hope that was helpful.

Okay.

Speaker Change: I hope that was helpful.

Speaker Change: <unk>.

Operator: I believe that's all the questions.

Speaker Change: I believe that's all the questions. So.

Joe Davey: So I will just say thank you all for joining the conference call today. Look forward to updating you on our ongoing achievements, innovations and growth. If we were unable to answer any of your questions, please reach out to our IR firm in Z group, who would be more than happy to assist. And with that, and you can see their contact information on the slide that's on the screen here. And by the way, this scene is a scene that's available in Create Studio. So if you wanna go build 3D videos for your own business, go check out Create Studio, createstudio.com.

Speaker Change: I will just say thank you all for joining our conference call today.

Speaker Change: Look forward to updating you on our ongoing achievements innovations in growth.

Speaker Change: We were unable to answer any of your questions. Please reach out to our IR firm MZ group.

Speaker Change: Who would be more than happy to assist.

Joe Davy: With that, you can see their contact information on the slide that's on the screen here. By the way, this scene is a scene that's available in CreateStudio. If you want to go build 3D videos for your own business, go check out CreateStudio, createstudio.com. Okay. That's my last shameless plug. Wouldn't be a good CEO if I wasn't selling you guys a little bit, taking every opportunity I can to sell software. Thanks so much for joining. We appreciate it. We will look forward to the next call.

Speaker Change: And with that and you can see their contact information.

Speaker Change: On the slide that's on the screen here and by the way this.

Speaker Change: The scene as a siem that's available and create studio. So if you want to go build three videos for your own business go checkout create studio create studio Dot com. Okay. That's my last shameless plug.

Joe Davey: Okay, that's my last shameless plug. Wouldn't be a good CEO if I wasn't selling you guys a little bit, taking every opportunity I can to sell software. So thanks so much for joining. We appreciate it and we will look forward to the next call. Thank you, Joe. Thanks, everyone.

Speaker Change: It wouldn't be a good CEO if I wasn't.

Speaker Change: Selling you guys a little bit taking every opportunity I can to sell software so.

Speaker Change: Thanks, so much for joining we appreciate it and we will.

Speaker Change: We will look forward to the next call.

Alvin Yip: Thank you, Joe. Thanks, everyone.

Joe Davis: Thank you Joe.

Speaker Change: Thanks, everyone.