Banzai International Inc. reported revenue of $2.8 million for the third quarter of 2025, an increase of 163% compared to the same period in 2024. Gross profit for the quarter was $2.3 million, up 213% year-over-year, with a gross margin of 81.7%, representing a 1,302 basis point increase. Adjusted EBITDA for the nine months ended September 30, 2025, was negative $5.6 million, compared to negative $4.8 million for the prior-year period. Net cash used in operating activities for the first nine months of 2025 was $13.4 million, up from $5.4 million in the same period of 2024. Cash at the end of the quarter totaled $0.9 million. During the period, Banzai focused on mid-market and enterprise customers, invested in its Reach product, and executed a payoff and debt conversion agreement with a senior debt holder, converting approximately $4.8 million of senior secured debt into equity. The company now serves over 140,000 customers.