High-Margin Engine with Fresh Fuel. Banzai International (BNZI) is compounding software-like margins while deleveraging and deepening enterprise traction. Revenue was 3x higher y/y at $6.7mn in H1:25 with gross margin expanding ~1,850bps y/y to 82.1%. This performance reflects a richer mix from video and webinar products (OpenReel, Vidello) and disciplined delivery costs. Q2 maintained momentum on both revenue and margin, while annual recurring revenue (ARR) increased 182% y/y to $12.6mn and the customer base exceeded 140,000, signaling broader mid-market and enterprise adoption.
