BNZI
Banzai International, Inc.
Next earnings Aug 12, 2026 · consensus $-5.88 EPS, $3.58M rev
$2.98
▼ -1.00%$2.98▼ -97.39%
over 1Y
L $2.78H $130.00
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-1.0%
1W+2.8%
1M-10.0%
3M-82.3%
YTD-87.7%
1Y-97.4%
Avoid
Conviction
Horizon
Short (<3mo)
Street · 8 analysts
Buy
82% gross margins can't save a MarTech rollup with $259K cash, a $21M working-capital hole, and 1,187% annual dilution.
Cash & equivalents $259K · FY2025
Banzai's headline 168.6% revenue growth to $12.2M is a mirage of M&A, not a durable business. The organic base was flat-to-declining ($5.33M in FY2022 → $4.56M FY2023 → $4.53M FY2024); the FY2025 jump is bolted-on acquisitions — OpenReel (2024), Vidello and Superblocks assets (2025) — funded by shares and debt. The 82.0% gross margin (up from 68.6%) and the narrower $22.5M net loss (vs $31.5M) are the only genuine bright spots, and they are nowhere near enough to offset the structure underneath.
The balance sheet is in distress. Cash is $259K against a $15.7M operating cash burn and a working-capital deficit of roughly $21M ($1.41M current assets vs $22.4M current liabilities). Equity is barely positive at $8.06M only because senior holders converted ~$4.3M of secured debt to stock — a maneuver management spins as 'a strong vote of confidence,' but which the market reads as a lender preferring equity to a shaky claim. The accumulated deficit is -$101M. Survival hinges on the $11M June-2025 facility and continued capital raises.
Is BNZI a buy? The one-page verdict, explained →
The options angle
model · matches our verdictBear put spread (caution)~30d expiry
- Long put 3 @ ~0.64 est
- Short put 2.5 @ ~0.37 est
debit $27max +$23max −$27BE 2.73
AVOID means we wouldn't engage at all — if expressing the short side anyway, only with capped risk.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | — | $5.33M | $4.56M | $4.53M | $12.2M |
| Gross profit | — | $3.38M | $3.12M | $3.11M | $9.97M |
| Operating income | -$2.68M | -$6.21M | -$9.80M | -$13.5M | -$18.5M |
| Net income | $11.6M | -$15.5M | -$14.4M | -$31.5M | -$22.5M |
| Diluted EPS | — | -$2.40 | -$6.00 | -$69.75 | -$5.95 |
| Net margin | — | -290.1% | -315.8% | -696.0% | -184.9% |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$6.14M
EV / EBITDA—
EV / Sales0.5
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield-351.7%
FCF yield-245.6%
Quality & risk
ROIC (est.)-181.1%
Free cash flow-$15.7M
Total debt—
Net cash$259K
Altman Z-Score-6.63 distress
Piotroski F-Score4/8
Capital returns
Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Shares Δ YoY+1186.9%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- S-1 Securities registration2026-06-05
Filed S-1 registering shares for resale—dilution/overhang risk for holders
- 8-K/A Amended 8-K2026-05-18
Amended a prior 8-K with updated/supplemental disclosures
- 10-Q Quarterly report2026-05-15
Q1 report: revenue scaling on acquisitions but still loss-making with very thin cash
- 8-K Material event2026-05-06
Charter amendment altered shareholder rights—likely reverse split to hold Nasdaq listing
- 8-K/A Amended 8-K2026-05-05
Amended earlier 8-K with revised/supplemental disclosures
- 8-K Shareholder vote2026-04-28
Annual meeting voting results reported; routine governance outcomes
- DEF 14A Proxy statement2026-04-17
Annual proxy—director elections and routine governance proposals
- 10-K Annual report2026-03-31
FY25: revenue +169% to $12.2M, 82% gross margin, net loss narrowed $9M, equity positive
- 8-K Material agreement2026-02-13
Entered a new material definitive agreement (likely financing/partnership)
Recent filings
all on EDGAR ↗4Period ending 2026-06-052026-06-09open ↗S-1Filing2026-06-05open ↗424B3Filing2026-05-18open ↗8-K/APeriod ending 2024-09-252026-05-18open ↗424B3Filing2026-05-15open ↗10-QPeriod ending 2026-03-312026-05-15open ↗8-KPeriod ending 2026-05-062026-05-06open ↗8-K/APeriod ending 2025-12-172026-05-05open ↗8-KPeriod ending 2026-04-282026-04-28open ↗424B3Filing2026-04-27open ↗424B3Filing2026-04-27open ↗EFFECTFiling2026-04-23open ↗
Frequently asked
- Is Banzai International, Inc. (BNZI) a buy?
- BNZI currently carries a Avoid rating with 5/5 conviction, derived from its latest SEC filings. 82% gross margins can't save a MarTech rollup with $259K cash, a $21M working-capital hole, and 1,187% annual dilution.
- What is Banzai International, Inc.'s quality score?
- BNZI scores 54.78571296526153/100 (grade C-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001826011, latest 10-Q filed 2026-05-15) · EODHD · Proprietary analysis · as of 7/4/2026, 9:49:52 AM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jul 4, 2026, 5:49 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.