Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Summary of Information About Segments

The table below presents information about segments for the three months ended March 31, 2026:


Three months ended March 31, 2026
		Banzai Operating				OpenReel				Vidello				Total Consolidated
Revenue		$	1,026			$	1,376			$	294			$	2,696
Cost of revenue			390				64				67				521
Gross profit			636				1,312				227				2,175

Expenses
People			1,944				1,033				119				3,096
Marketing and advertising			369				51				113				533
Technology			180				37				13				230
Other segment expenses1			184				36				4				224
Total expenses			2,677				1,157				249				4,083
Segment Adjusted EBITDA			(2,041	)			155				(22	)			(1,908	)
Transaction, PubCo. Expenses and Stock-based compensation			3,567				-				-				3,567
Adjusted EBITDA		$	(5,608	)		$	155			$	(22	)		$	(5,475	)

1 Other segment expenses for each reportable segment includes provision for credit losses, foreign currency exchange rate changes, travel and entertainment expenses, professional expenses other than those included in transaction and PubCo expenses, insurance expenses, and expenses related to licenses.

The table below presents information about segments for the three months ended March 31, 2025:


Three months ended March 31, 2025
		Banzai Operating				OpenReel				Vidello1				Total Consolidated
Revenue		$	1,160			$	1,441			$	778			$	3,379
Cost of revenue			377				74				155				606
Gross profit			783				1,367				623				2,773

Expenses
People			2,204				90				—				2,294
Marketing and advertising			795				39				103				937
Technology			276				519				27				822
Other segment expenses2			369				20				73				462
Total expenses			3,644				668				203				4,515
Segment Adjusted EBITDA			(2,861	)			699				420				(1,742	)
Transaction, PubCo. Expenses and Stock-based compensation			2,616				302				—				2,918
Adjusted EBITDA		$	(5,477	)		$	397			$	420			$	(4,660	)

1 The Vidello acquisition occurred on January 31, 2025 (refer to Note 4 – Acquisitions and therefore does not represent activity for the full three month period.

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

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

A reconciliation between EBITDA by reportable segment to consolidated net loss before income taxes for the three months ended March 31, 2026, and 2025 is as follows:


		March 31, 2026				March 31, 2025
EBITDA by segment
Banzai Operating Co.		$	(5,608	)		$	(5,477	)
OpenReel			155				397
Vidello			(22	)			420
Total			(5,475	)			(4,660	)

Reconciliation to loss before income taxes:
Interest income			(3	)			—
Interest expense			9				—
Interest expense – related party			194				358
Depreciation and amortization expense			305				247
Gain on extinguishment of liabilities, net			6				(2,573	)
Loss on Yorkville SEPA advances			28				385
Loss on debt issuance			1,647				274
Changes in fair value of financial instruments			258				344
Other			550				(125	)
Loss before income taxes		$	(8,469	)		$	(3,570	)

Summary of Company's Percentage of Revenue Generated by Saas Product

The following table presents the Company's percentage of revenue generated by SaaS product for the three months ended March 31, 2026 and 2025:


		Three Months Ended March 31,
Revenue %		2026				2025
Reach			2.2	%			3.8	%
Demio			34.2	%			91.0	%
OpenReel 1			45.0	%			5.2	%
Vidello 2			18.6	%			—	%
Total			100.0	%			100.0	%