Latest news with #Banzai
Yahoo
03-06-2025
- Business
- Yahoo
OC FEDERAL CREDIT UNION PROVIDES FINANCIAL LITERACY LEARNING RESOURCES TO LOCAL SCHOOLS
GARFIELD HEIGHTS, Ohio, June 3, 2025 /PRNewswire/ -- OC Federal Credit Union is bringing financial literacy education to over 300 students in Ohio. Students at 23 schools have free access to Banzai, an award-winning online program and content library that allows users to practice real-world finance from the safety of their home or classroom using any internet-enabled device. At a time when a solid foundation of practical financial knowledge is critical, these resources will make a huge impact on users. All of these resources are available to students at home or in the classroom via any device that can access the internet. "Banzai is a web-based financial literacy program. Kids get their own accounts, and they work through assignments that are based on real life," says Morgan Vandagriff, co-founder of Banzai. "But because OC Federal is sponsoring it, local schools get it for free. More than ever, it's important that kids develop sound financial skills to prepare them for the real world, and OC Federal realizes that and they're doing something about it." Banzai content builds a foundation of practical knowledge and gives students the tools to create a sound financial future. While students learn, teachers can easily monitor and grade their progress remotely. After finishing Banzai, students will know how to track where their money is and what it's for, recognize financial trade-offs, build a budget, and more. At a time when many are facing unprecedented financial challenges, these lessons are invaluable. The Banzai resources are available at OC Federal Credit Union is working with Banzai to build financial literacy in the community by investing time, money, industry experience, and a variety of resources. Beyond the Banzai library, OC Federal also offers virtual or in-classroom presentations from local experts on timely topics. Banzai resources are used by over 120,000 teachers across the U.S. The courses align with Ohio's state curriculum requirements, making the program a fun way for students to gain vital financial literacy skills both online and offline. Teachers interested in using the Banzai program with their class can visit or call 888-8-BANZAI. For more information about Banzai visit For more information about OC Federal Credit Union visit Contact:Cheyenne BlanchetteMarketing Team Leadercblanchette@ (216) 478-0098 ext. 278 OC Federal Credit UnionMain Office – Garfield Heights Branch13623 Rockside RoadGarfield Heights, OH 44125 View original content: SOURCE OC Federal Credit Union
Yahoo
15-05-2025
- Business
- Yahoo
Banzai Reports First Quarter 2025 Financial Results
Revenue of $3.4 Million for Q1 2025, Representing 213% Growth from Q1 2024 Gross Profit of $2.8 Million for Q1 2025, Representing 297% Growth from Q1 2024; Gross Margin Expanded to 82.1% in Q1 2025 from 64.7% in Q1 2024 Q1 2025 Net Loss Improved to ($3.6) Million from ($7.9) Million in Q4 2024, Positioning the Company to Cash Break-Even Operations in FY2025 Management to Host First Quarter 2025 Results Conference Call Today, Thursday, May 15, 2025 at 5:45 p.m. Eastern Time SEATTLE, May 15, 2025 (GLOBE NEWSWIRE) -- Banzai International, Inc. (NASDAQ: BNZI) ('Banzai' or the 'Company'), a leading marketing technology company that provides essential marketing and sales solutions, today reported financial results for the first quarter ended March 31, 2025. First Quarter 2025 and Subsequent Key Financial & Operational Highlights Revenue of $3.4 million for Q1 2025, representing an increase of 213% million over Q1 2024 and a 160% sequential increase. Gross profit of $2.8 million for Q1 2025, representing an increase of 297% over Q1 2024. Gross margin was 82.1% in Q1 2025, compared to 64.7% in Q1 2024. Annual Recurring Revenue (ARR) of $14.9 million for Q1 2025. This represents a 268% annualized ARR growth rate compared to Q4 2024. Q1 2025 Net Loss was ($3.6) million, a $4 million sequential improvement from Q4 2024 Net Loss of ($7.9) million. Q1 2025 Adjusted EBITDA was ($1.7) million, compared to ($1.5) million in Q1 2024. Completed acquisition of Vidello, Ltd. ('Vidello') on January 31, 2025. Signed a definitive agreement to acquire Act-On Software Inc. ('Act-On'), an enterprise marketing automation platform (MAP) provider, which is projected to increase revenue by $27 million for the twelve-month period ending December 31, 2025, on a pro-forma basis, when completed; acquisition subject to closing conditions. Completed ahead-of-schedule repayment of $20.3 million of outstanding liabilities as of March 31, 2025, pursuant to the $24.8 million debt payoff and restructuring agreements announced on September 24, 2024. Expanded customer base to over 90,000 total customers. 'In the first quarter, as our Vidello and OpenReel businesses continued to drive revenue momentum, we also focused on shoring up the financial strength of the company,' said Joe Davy, Founder and CEO of Banzai. 'Revenue was $3.3 million for the first quarter of 2025, representing a 207% increase from the prior year from continued strong performance for our products. We closed the acquisition of Vidello in February, and progress continued toward closing 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 when completed, which remains subject to the satisfaction or waiver of closing conditions and therefore there is no guarantee it will be completed or provide such revenue. 'For the first quarter, we achieved a 268% annualized Annual Recurring Revenue growth rate. Growth was driven by our focus on mid-market and enterprise customers, and on the Reach product through re-engineering and expanded sales efforts. In total, we now serve over 90,000 customers. 'We made significant improvements to our balance sheet and cost structure, which we believe will position us for sustainable profitability in the future. With the investment in our Vidello acquisition, we further improved our financial position and flexibility with a $5.1 million year over year improvement in stockholders' equity to a positive $2.4 million as of March 31, 2025. We also implemented a strategic initiative that we expect will enable us to significantly improve net income, substantially extend our cash runway, and invest in growth. We are making significant progress toward these goals and overall improvement in net income is expected to be approximately $13.5 million annually when fully implemented, while maintaining our growth outlook. 'In the first quarter Banzai secured expanded agreements with several prominent enterprises including RBC Capital Markets for our OpenReel solution, further cementing OpenReels position as a leading digital video creation platform for enterprise marketing teams. These agreements further validate our expansion strategy in the enterprise and mid-market. We are seeing solid traction in the financial sector, where the OpenReel Creator tool gives global financial firms the ability to offer standardized branded video with personalization at scale for their wealth managers, partners, and other stakeholders. 'To better serve our customers, we have continued to invest in our products and growth initiatives. We launched CreateStudio 4.0, with major A.I. enhancements for video creation including new A.I. builders, hook generators and assistant, and improved audio visualizer, call-to-action, and UI improvements. 'Looking ahead, our acquisitions have allowed us to build an integrated platform of AI-powered MarTech solutions that is driving strong growth with its marketing results. We are focused on adding innovative new products and capabilities that will provide compelling solutions for our clients and further our market reach. As we continue to invest in our software platform, sales and marketing, product development, acquisition strategy and other organic growth initiatives, we are managing costs efficiently. We are also continuing to strengthen our capital structure and balance sheet, to deliver a material benefit to both net income and shareholders' equity. We look forward to additional updates on our anticipated milestones in the weeks and months to come,' concluded Davy. First Quarter 2025 Financial Results Banzai believes its non-GAAP financial measure ARR is more meaningful in evaluating its performance. The Company's management team evaluates its financial and operating results utilizing this non-GAAP measure. For the three months ended March 31, 2025, ARR increased to $14.9 million, representing a 268% annualized ARR growth rate. Total revenue for the three months ended March 31, 2025, was $3.4 million, a sequential increase of 160% from the three months ended December 31, 2024, and an increase of 213% compared to the prior year quarter. Total cost of revenue for the three months ended March 31, 2025 was $0.6 million, compared to $0.4 million in the prior year quarter, an increase of 59%. The increase was proportional to the revenue for the corresponding period. Gross profit for the three months ended March 31, 2025, was $2.8 million, compared to $0.7 million in the prior year quarter. Gross margin was 82.1% in the first quarter of 2025, compared to 64.7% in the first quarter of 2024. Total operating expenses for the three months ended March 31, 2025, were $7.7 million, compared to $4.1 million in the prior year quarter. The increase in operating expenses were primarily due to the additions of OpenReel and Vidello and overall operating expenses. Net loss for the three months ended March 31, 2025, was $3.6 million, compared to $4.3 million in the prior year quarter. Adjusted EBITDA for the three months ended March 31, 2025, was ($1.7) million, compared to Adjusted EBITDA of ($1.5) million for the prior year quarter. This period-over-period decrease is primarily attributable to increased gain on extinguishments of liabilities offset by loss on issuance of term notes and increased transaction related expenses. Net cash used in operating activities for the three months ended March 31, 2025, was $5.0 million, compared to $2.1 million for the three months ended March 31, 2024. Cash totaled $0.8 million as of March 31, 2025, compared to $1.1 million as of December 31, 2024. Annual Recurring Revenue ('ARR') refers to annual run-rate revenue of subscription agreements from all customers in the last month of the measured period. These statements are forward-looking and actual ARR may differ materially. Refer to the 'Forward-Looking Statements' section below for information on the factors that could cause Banzai's actual ARR to differ materially from these forward-looking statements. First Quarter 2025 Results Conference Call Banzai Founder & CEO Joe Davy and Interim CFO Alvin Yip will host the conference call, followed by a question-and-answer session. The conference call will be accompanied by a presentation, which can be viewed during the webcast or accessed via the investor relations section of the Company's website here. To access the call, please use the following information: Date: Thursday, May 15, 2025 Time: 5:45 p.m. Eastern Time (2:45 p.m. Pacific Time) Webcast Registration: A replay of the webcast and the presentation utilized during the call will be available in the Company's investor relations section here. Note About Non-GAAP Financial Measures Adjusted EBITDA In addition to our results determined in accordance with U.S. GAAP, we believe that Adjusted EBITDA, a non-GAAP measure as defined below, is useful in evaluating our operational performance distinct and apart from certain irregular, non-cash, and non-operational expenses. We use this information for ongoing evaluation of operations and for internal planning purposes. We believe that non- GAAP financial information, when taken collectively with results under GAAP, may be helpful to investors in assessing our operating performance and comparing our performance with competitors and other comparable companies. Non-GAAP measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We endeavor to compensate for the limitation of Adjusted EBITDA, by also providing the most directly comparable GAAP measure, which is net loss, and a description of the reconciling items and adjustments to derive the non-GAAP measure. Adjusted EBITDA should only be considered alongside results prepared in accordance with GAAP, including various cash-flow metrics, net income (loss) and our other GAAP results and financial performance measures. Net Income/(Loss) to Adjusted EBITDA Reconciliation ($ in Thousands) Net loss $ (3,644 ) $ (4,291 ) $ 647 -15.1 % Depreciation expense 247 2 245 12250.0 % Stock based compensation 337 43 294 685.9 % Interest expense — 451 (451 ) -100.0 % Interest expense - related party 358 578 (220 ) -38.1 % Income tax expense 74 (1 ) 75 -7500.0 % GEM commitment fee expense - 200 (200 ) -100.0 % Gain on extinguishment of liabilities (4,343 ) (528 ) (3,815 ) 722.5 % Loss on debt issuance 274 171 103 60.2 % Loss on issuance of term notes 1,770 — 1,770 nm Change in fair value of warrant liability (4 ) (408 ) 404 -99.0 % Change in fair value of warrant liability - related party 2 (115 ) 117 -101.7 % Change in fair value of bifurcated embedded derivative liabilities - related party 43 - 43 nm Change in fair value of convertible notes 159 544 (385 ) -70.8 % Change in fair value of term notes 166 — 166 nm Change in fair value of convertible bridge notes (22 ) — (22 ) nm Loss on yorkville sepa advances 385 — 385 nm Other expense, net (125 ) (4 ) (121 ) 3025.0 % Transaction related expenses* 2,582 1,842 740 40.2 % Adjusted EBITDA (Loss) $ (1,742 ) $ (1,512 ) $ (230 ) 15.2 % About Banzai Banzai is a marketing technology company that provides AI-enabled marketing and sales solutions for businesses of all sizes. On a mission to help their customers grow, Banzai enables companies of all sizes to target, engage, and measure both new and existing customers more effectively. Customers who use Banzai's product suite include Autodesk, Dell Technologies, New York Life, Thermo Fisher Scientific, Thinkific, and ActiveCampaign, among thousands of others. Learn more at For investors, please visit Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often use words such as 'believe,' 'may,' 'will,' 'estimate,' 'target,' 'continue,' 'anticipate,' 'intend,' 'expect,' 'should,' 'would,' 'propose,' 'plan,' 'project,' 'forecast,' 'predict,' 'potential,' 'seek,' 'future,' 'outlook,' and similar variations and expressions. Forward-looking statements are those that do not relate strictly to historical or current facts. Examples of forward-looking statements may include, among others, statements regarding Banzai International, Inc.'s (the 'Company's'): future financial, business and operating performance and goals; annualized recurring revenue and customer retention; ongoing, future or ability to maintain or improve its financial position, cash flows, and liquidity and its expected financial needs; potential financing and ability to obtain financing; acquisition strategy and proposed acquisitions and, if completed, their potential success and financial contributions; strategy and strategic goals, including being able to capitalize on opportunities; expectations relating to the Company's industry, outlook and market trends; total addressable market and serviceable addressable market and related projections; plans, strategies and expectations for retaining existing or acquiring new customers, increasing revenue and executing growth initiatives; and product areas of focus and additional products that may be sold in the future. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity and development of the industry in which the Company operates may differ materially from those made in or suggested by the forward-looking statements. Therefore, investors should not rely on any of these forward-looking statements. Factors that may cause actual results to differ materially include changes in the markets in which the Company operates, customer demand, the financial markets, economic, business and regulatory and other factors, such as the Company's ability to execute on its strategy. More detailed information about risk factors can be found in the Company's Annual Report on Form 10-K and the Company's Quarterly Reports on Form 10-Q under the heading 'Risk Factors,' and in other reports filed by the Company, including reports on Form 8-K. The Company does not undertake any duty to update forward-looking statements after the date of this press release. Investor RelationsChris TysonExecutive Vice PresidentMZ Group - MZ North America949-491-8235BNZI@ MediaNancy NortonChief Legal Officer, Banzaimedia@ INTERNATIONAL, Balance Sheets March 31, 2025 December 31, 2024 (Unaudited) ASSETS Current assets: Cash $ 780,764 $ 1,087,497 Accounts receivable, net of allowance for credit losses of $14,503 and $24,210, respectively 1,028,379 936,321 Prepaid expenses and other current assets 831,394 643,674 Total current assets 2,640,537 2,667,492 Property and equipment, net 10,889 3,539 Intangible assets, net 8,936,187 3,883,853 Goodwill 21,991,721 18,972,475 Operating lease right-of-use assets 66,896 72,565 Bifurcated embedded derivative asset - related party 20,000 63,000 Other assets 13,984 11,154 Total assets 33,680,214 25,674,078 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable 2,830,450 7,782,746 Accrued expenses and other current liabilities 4,030,965 3,891,018 Convertible notes (Yorkville) 1,684,000 — Convertible notes - related party 8,104,901 8,639,701 Convertible notes — 215,057 Notes payable, carried at fair value 5,949,001 3,575,000 Warrant liability 11,000 15,000 Warrant liability - related party 4,600 2,300 Earnout liability 2,046,370 14,850 Due to related party 167,118 167,118 Deferred revenue 4,419,195 3,934,627 Operating lease liabilities, current 23,485 22,731 Total current liabilities 29,271,085 28,260,148 Deferred revenue, non-current 111,161 117,643 Deferred tax liability 1,309,333 10,115 Operating lease liabilities, non-current 43,765 49,974 Total liabilities 30,735,344 28,437,880 Commitments and contingencies (Note 15) Stockholders' equity (deficit): Common stock, $0.0001 par value, 275,000,000 (250,000,000 Class A and 25,000,000 Class B) shares authorized and 14,686,775 (12,375,641 Class A and 2,311,134 Class B) and 8,195,163 (5,884,029 Class A and 2,311,134 Class B) issued and outstanding at March 31, 2025 and December 31, 2024, respectively 1,450 800 Preferred stock, $0.0001 par value, 75,000,000 shares authorized, 1 and 1 shares issued and outstanding at March 31, 2025 and December 31, 2024 — — Additional paid-in capital 84,866,612 75,515,111 Accumulated deficit (81,923,192 ) (78,279,713 ) Stockholders' equity (deficit) 2,944,870 (2,763,802 ) Total liabilities and stockholders' equity (deficit) $ 33,680,214 $ 25,674,078 BANZAI INTERNATIONAL, Condensed Consolidated Statements of Operations For the Three Months Ended March 31, 2025 2024 Revenue $ 3,379,083 $ 1,079,472 Cost of revenue 605,999 381,380 Gross profit 2,773,084 698,092 Operating expenses: General and administrative expenses 7,433,088 4,098,789 Depreciation and amortization expense 246,691 1,564 Total operating expenses 7,679,779 4,100,353 Operating loss (4,906,695 ) (3,402,261 ) Other expenses (income): GEM settlement fee expense — 200,000 Interest income (2 ) (10 ) Interest expense — 451,399 Interest expense - related party 358,381 577,513 Gain on extinguishment of liabilities (4,343,406 ) (527,980 ) Loss on debt issuance 273,800 171,000 Loss on extinguishment of term notes 1,769,895 — Change in fair value of warrant liability (4,000 ) (408,000 ) Change in fair value of warrant liability - related party 2,300 (115,000 ) Change in fair value of bifurcated embedded derivative assets - related party 43,000 — Change in fair value of convertible notes 159,100 544,000 Change in fair value of term notes 165,906 — Change in fair value of convertible bridge notes (21,714 ) — Loss on Yorkville SEPA advances 384,524 — Other income, net (124,531 ) (4,118 ) Total other (income) expenses, net (1,336,747 ) 888,804 Loss before income taxes (3,569,948 ) (4,291,065 ) Income tax expense (benefit) 73,531 (933 ) Net loss (3,643,479 ) (4,290,132 ) Net loss attributable to common shareholders $ (3,643,479 ) $ (4,290,132 ) Net loss per share attributable to common shareholders Basic and diluted $ (0.15 ) $ (1.64 ) Weighted average common shares outstanding Basic and diluted 23,963,166 2,612,025 BANZAI INTERNATIONAL, Condensed Consolidated Statements of Cash Flows For the Three Months Ended March 31, 2025 2024 Cash flows from operating activities: Net loss $ (3,643,479 ) $ (4,290,132 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization expense 246,691 1,564 Provision for credit losses on accounts receivable (9,707 ) (2,191 ) Non-cash share issuance for marketing expenses — 48,734 Non-cash shares issued for consulting expenses 232,500 — Non-cash settlement of GEM commitment fee — 200,000 Discount at issuance on notes carried at fair value 16,200 — Non-cash interest expense — 374,944 Non-cash interest expense - related party 336,275 87,758 Amortization of debt discount and issuance costs (885 ) 30,027 Amortization of debt discount and issuance costs - related party — 489,755 Amortization of operating lease right-of-use assets 5,669 43,705 Stock based compensation expense 336,568 42,827 Gain on extinguishment of liability (4,343,406 ) (527,980 ) Loss on debt issuance 273,800 171,000 Loss on extinguishment of term notes 1,769,895 — Loss on SEPA issuance 384,524 — Change in fair value of warrant liability (4,000 ) (408,000 ) Change in fair value of warrant liability - related party 2,300 (115,000 ) Change in fair value of bifurcated embedded derivative liabilities - related party 43,000 — Change in fair value of convertible promissory notes 159,100 544,000 Change in fair value of term notes 165,906 — Change in fair value of convertible bridge notes (21,714 ) — Changes in operating assets and liabilities: Accounts receivable (82,351 ) 72,570 Prepaid expenses and other current assets (187,720 ) (186,558 ) Other assets (2,830 ) — Accounts payable (609,595 ) 1,897,046 Deferred revenue 36,602 31,210 Accrued expenses (212,557 ) (524,713 ) Operating lease liabilities (5,455 ) (75,078 ) Earnout liability 170,481 (22,274 ) Deferred revenue - long-term (6,482 ) — Deferred tax liability (25,032 ) — Net cash used in operating activities (4,975,702 ) (2,116,786 ) Cash flows from investing activities: Cash paid in acquisition of Vidello, net of cash acquired (2,677,480 ) — Net cash used in investing activities (2,677,480 ) — Cash flows from financing activities: Payment of GEM commitment fee promissory note (215,057 ) (1,200,000 ) Repayment of convertible notes (Yorkville) (1,877,100 ) — Proceeds from term notes, net of issuance costs 4,000,000 — Repayment of term notes (3,686,086 ) — Partial repayment of convertible notes - related party (870,190 ) — Proceeds from issuance of convertible notes, net of issuance costs 3,258,000 2,250,000 Proceeds from issuance of shares to Yorkville under the SEPA 6,687,082 — Proceeds from shares issued to Verista 49,800 — Net cash provided by financing activities 7,346,449 1,050,000 Net decrease in cash (306,733 ) (1,066,786 ) Cash at beginning of period 1,087,497 2,093,718 Cash at end of period $ 780,764 $ 1,026,932 Supplemental disclosure of cash flow information: Cash paid for interest — 44,814 Non-cash investing and financing activities Shares issued to Roth for advisory fee — 278,833 Shares issued to GEM — 100,000 Shares issued for marketing expenses — 194,935 Shares issued to Hudson for consulting fee 232,500 — Settlement of GEM commitment fee — 200,000 Consideration transferred for acquisition of Vidello 1,661,677 — Assets acquired in acquisition of Vidello 8,393,172 — Liabilities assumed in acquisition of Vidello 3,986,464 — Shares issued to Yorkville of aggregate commitment fee — 500,000 Conversion of convertible notes - Yorkville — 1,667,000 Conversion of convertible notes - related party — 2,540,091 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
News18
10-05-2025
- Entertainment
- News18
WWE SmackDown Results: Randy Orton Floors John Cena, Nia Jax Becomes No. 1 Contender For Women's Title
Last Updated: Hours before the highly anticipated WWE Backlash, several noteworthy moments unfolded on Friday Night SmackDown. Randy Orton returned to trade some strikes with John Cena, who will defend his undisputed WWE championship at the next pay-per-view. The duo is set to settle their decade-long rivalry at Backlash. Cena picked up the mic to address the crowd before attempting a sneak attack on Orton's head. The Legend Killer countered with an RKO and thrashed Cena on the deck. The two veteran wrestlers then went on to insult each other. Cena even dragged Orton's father and grandfather, questioning their legacy. The champ also accused his long-time rival of taking favours throughout his 25-year-long career, referring to his frequent injury issues. Cena said Orton would fail at Backlash just like his 2006 drug test. When all of these were happening, a masked man suddenly appeared at the ringside and attempted an RKO on Cena, who shelled out an Attitude Adjust to counter the move. Orton claimed the mysterious man to be someone else as he slid into the squared circle. He then sarcastically imitated Cena's 'you can't see me" gesture before taking out another RKO. The SmackDown episode also featured the return of Alexa Bliss, who teamed up with Zelina Vega to clash against Chelsea Green and Piper Niven. Another tag team fight saw the Street Profits go head-to-head against Nathan Frazer and Axiom. The roster also included several singles bout. Let's take a look at their results: LA Knight and Damian Priest vs Jacob Fatu and Solo Sikoa: Knight started on a promising note as he didn't let either Fatu or Sikoa gain the momentum. In the end, Sikoa was taken down with a BFT, with Knight and Priest securing a pinfall victory. After the match, Fatu tried to attack his opponents, but Drew McIntyre blocked him with a Claymore Kick. McIntyre showed off his United States title before the show moved on. Nia Jax vs Jade Cargill: Jax defeated Cargill via pinfall, using a Banzai drop. Tiffany Stratton and Naomi tried to intervene, but Jax once again proved why she is a top contender for the WWE women's championship. Fraxiom vs Street Profits: Nathan Frazer and Axiom unleashed the Catapulta Infernal to pin their opponents with ease. Aleister Black beat Carmelo Hayes via pinfall, while Andrade and Rey Fenix used the Message to knock down Angel and Berto. First Published: May 10, 2025, 10:53 IST
Yahoo
12-04-2025
- Business
- Yahoo
Board of Education promotes financial literacy for Hawaii students
STAR-ADVERTISER / JAN. 29, 2020 Hawaii high school students work on building financial literacy in a 'MyMoney ' class, an interactive, online program that teaches about finances in 2020. STAR-ADVERTISER / JAN. 29, 2020 Hawaii high school students work on building financial literacy in a 'MyMoney ' class, an interactive, online program that teaches about finances in 2020. The state Board of Education has begun discussions to develop a formal policy that would embed financial literacy education throughout the state's public school system, responding to growing interest from students, educators and the broader community. During a Thursday meeting, the Board's Student Achievement Committee reviewed a memorandum from committee Chair Bill Arakaki recommending the initiation of a policy development process that would pave the way for a structured approach to teaching financial literacy in Hawaii public schools. The board acknowledged that there is significant and consistent demand from students and other stakeholders to expand access to personal finance education. While some offerings already exist through elective courses and digital platforms, the board is exploring how to systematize and possibly require financial literacy education for graduation. The committee has agreed that further action on financial literacy is warranted and to work alongside the state Department of Education on the next steps, including gathering data and engaging the public. In support of the board's deliberation, the Department of Education presented an extensive update on its ongoing work to expand financial literacy opportunities in schools. Deputy Superintendent Heidi Armstrong and Teri Ushijima, assistant superintendent of the Office of Curriculum and Instructional Design, outlined efforts tied to the state's 2023-2029 Strategic Plan. Don 't miss out on what 's happening ! Stay in touch with breaking news, as it happens, conveniently in your email inbox. It 's FREE ! Email 28141 Sign Up By clicking to sign up, you agree to Star-Advertiser 's and Google 's and. This form is protected by reCAPTCHA. The DOE already offers a financial literacy elective course and integrates financial education into career and technical education, economics and junior ROTC pathways. DOE schools also have access to digital tools such as EVERFI, Banzai, LYFE and Intuit for Education. These platforms offer interactive financial lessons on budgeting, credit, investing and more—many at no cost to the department. Enrollment in the financial literacy elective course rose from 182 students across 10 schools in the 2021-2022 school year to 761 students in nine schools by the 2024-2025 school year. EVERFI high school enrollments also increased to 2, 485 from 2, 052 between the 2021-2022 school year and the 2022-2023 school year, though they dropped slightly in subsequent years. Danson Honda, a 28-year-old resident of Pearl City, told the Honolulu Star-Advertiser that he learned financial literacy 'the hard way, through making many mistakes, ' and hopes future generations won't have to go through what he did. 'I grew up in low-income housing, a single-income family in Waipio Gentry, and I was always under the impression that working hard, getting good grades and going to college would magically make things better—but it didn't, ' Honda said. He shared that during college he struggled with credit card debt and student loans, admitting he never truly learned how to manage finances—how to budget, save, invest or plan for the future. When the COVID-19 pandemic hit, Honda faced unemployment due to widespread hiring freezes and became a food delivery driver to make ends meet. 'Everybody thinks that to be successful in life, you need a fancy job title and a high income. I learned firsthand—through the power of financial literacy—how you can leverage even lower-paying jobs to build something substantial, ' he said. 'Even though I was only able to find work as a food delivery driver, I used my financial knowledge to create a budget and invest what I earned.' By age 24, Honda had become a homeowner. Today he works as a real estate agent with Locations Hawaii. 'I feel grateful and lucky that I had a chance to learn from my mistakes because I recognize that a lot of people aren't in that position to make mistakes—any mistake could result in them being homeless on the streets, ' Honda said. He also mentioned that while he appreciates the focus on affordable housing and reducing homelessness at the city and state levels, he would encourage officials to place more emphasis on financial literacy. He believes that teaching financial literacy in classrooms from a young age is key to helping people understand how life works and preventing issues like unaffordable housing and homelessness in the future. The Department's Financial Literacy Task Force has recommended several structural reforms to improve financial education. One key suggestion is to embed financial literacy as a core competency throughout K-12 education. Additionally, the task force proposes redesigning the Personal Transition Plan to incorporate financial education, ensuring that students are better prepared for real-world financial decisions. To further enhance financial literacy, they recommend making it a graduation requirement by the 2028-2029 school year. Finally, the task force suggests introducing micro-credentials, badges or transcript seals to recognize and highlight student achievements in financial literacy, providing an incentive for students to excel in this important area. The department is also requesting funding for an educational specialist position to support these initiatives. If the board ultimately adopts a formal policy, students soon may be required to meet specific financial literacy benchmarks to graduate. Options under consideration include elective courses, summer school classes, self-paced digital modules and co-curricular activities.
Associated Press
07-04-2025
- Business
- Associated Press
Banzai Announces $20.3 Million Debt Repayment Ahead of Schedule
Fully Satisfies Outstanding Debt Obligations to Key Vendors and Delivers Material Benefit to Net Income and Shareholders' Equity SEATTLE, April 07, 2025 (GLOBE NEWSWIRE) -- Banzai International, Inc. (NASDAQ: BNZI) ('Banzai' or the 'Company'), a leading marketing technology company that provides essential marketing and sales solutions, today announced that it has paid off approximately $20.3 million of outstanding debt obligations in total through the first quarter of 2025. The Company completed the debt repayment pursuant to the $24.8 million debt payoff and restructuring agreements announced on September 24, 2024. This includes the complete satisfaction of debts owed to Sidley Austin LLP, Cooley LLP, GEM Global Yield LLC SCS, Alco Investment Company, Cantor Fitzgerald, Roth Capital Partners, LLC, and J.V.B. Financial Group, LLC, as well as repayments to Perkins Coie LLP and CP BF Lending, LLC. 'We have executed on our previously announced debt reduction initiatives ahead of schedule to fully satisfy our outstanding obligations to several key vendors and creditors,' said Joe Davy, Founder and CEO of Banzai. 'These debt repayments will deliver a material benefit to both net income and shareholders' equity, reflecting our focus on shoring up the financial strength of the company. The improvement to our balance sheet, in tandem with our acquisition strategy and organic growth initiatives, positions Banzai for substantial fundamental growth in 2025.' About Banzai Banzai is a marketing technology company that provides AI-enabled marketing and sales solutions for businesses of all sizes. On a mission to help their customers grow, Banzai enables companies of all sizes to target, engage, and measure both new and existing customers more effectively. Customers who use Banzai's product suite include Autodesk, Dell Technologies, New York Life, Thermo Fisher Scientific, Thinkific, and ActiveCampaign, among thousands of others. Learn more at For investors, please visit Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often use words such as 'believe,' 'may,' 'will,' 'estimate,' 'target,' 'continue,' 'anticipate,' 'intend,' 'expect,' 'should,' 'would,' 'propose,' 'plan,' 'project,' 'forecast,' 'predict,' 'potential,' 'seek,' 'future,' 'outlook,' and similar variations and expressions. Forward-looking statements are those that do not relate strictly to historical or current facts. Examples of forward-looking statements may include, among others, statements regarding Banzai International, Inc.'s (the 'Company's'): future financial, business and operating performance and goals; annualized recurring revenue and customer retention; ongoing, future or ability to maintain or improve its financial position, cash flows, and liquidity and its expected financial needs; potential financing and ability to obtain financing; acquisition strategy and proposed acquisitions and, if completed, their potential success and financial contributions; strategy and strategic goals, including being able to capitalize on opportunities; expectations relating to the Company's industry, outlook and market trends; total addressable market and serviceable addressable market and related projections; plans, strategies and expectations for retaining existing or acquiring new customers, increasing revenue and executing growth initiatives; and product areas of focus and additional products that may be sold in the future. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity and development of the industry in which the Company operates may differ materially from those made in or suggested by the forward-looking statements. Therefore, investors should not rely on any of these forward-looking statements. Factors that may cause actual results to differ materially include changes in the markets in which the Company operates, customer demand, the financial markets, economic, business and regulatory and other factors, such as the Company's ability to execute on its strategy. More detailed information about risk factors can be found in the Company's Annual Report on Form 10-K and the Company's Quarterly Reports on Form 10-Q under the heading 'Risk Factors,' and in other reports filed by the Company, including reports on Form 8-K. The Company does not undertake any duty to update forward-looking statements after the date of this press release. Investor Relations Chris Tyson Executive Vice President 949-491-8235 Media Rachel Meyrowitz
