Banzai International, Inc.

Greetings and welcome to the Bonsai Third Quarter 2024 Financial Results and Business Update Conference Call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. Before we begin the formal presentation, I would like to remind everyone that statements made on the call and webcast may include predictions, estimates, or other information that might be considered forward-looking. While these forward-looking statements represent our current judgment on what the future holds, they are subject to risk and uncertainties that could cause actual results to differ materially. You are cautioned to not place any undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this presentation. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. Throughout today's discussion, we will attempt to present some important factors relating to our business that may affect our predictions. You should also review our most recent Form 10-K and Form 10-Q for a more complete discussion of these factors and other risks, particularly under the heading Risk Factors. A press release detailing these same results was issued this afternoon and is available in the investor relations section of our company's website, bonsai.io. Your host today, Joe Davey, Chief Executive Officer, and Alvin Yip, Interim Chief Financial Officer, will present unaudited results of operations for third quarter ended September 30th, 2024. At this time, I would like to turn the call over to Bonsai Chief Executive Officer, Joe Davey.

Thank you, operator, and good afternoon, everyone. I'm pleased to welcome you to Bonsai's third quarter 2024 financial results conference call. We made substantial progress in the third quarter of 2024, during which we achieved a 31% annualized annual recurring revenue growth rate and a historic record for net revenue retention. We made key improvements to our core product suite, which we continue to expand. Through reengineering and expanded sales efforts, we've continued to drive growth with the addition of 1,785 customers through October 2024. Bonsai now serves a customer base of nearly 3,000 customers, many of which are top-tier enterprises that rely on our technology to succeed. For those of you that are new to the story, I would like to start with a brief overview of Bonsai, as well as our market opportunity and vision. I will then highlight some updates on each of our products, including our newest addition to the platform. At Bonsai, we're building an AI-driven platform of essential marketing applications to drive marketing and sales results for our customers. Our products enable companies from small businesses to large global enterprises to target, engage, and measure both new and existing customers more effectively. We're focused on the rapidly growing global MarTech market driven by digital transformation and the proliferation of automation and AI. The amount of SaaS vendors has dramatically increased alongside this market expansion, which is leading many companies and marketers to struggle with disjointed customer experiences and messy data. The core product suite is gaining significant traction with existing and new customers. And in tandem with our acquisition strategy, we believe we are uniquely positioned to capitalize on a major consolidation opportunity in this industry. As we look at our long-term vision, we are building an AI-powered platform that provides marketing teams with the data, analytics, and integrated applications they need to win. We're consolidating mission-critical, subscale MarTech products within three key themes, acquisition, engagement, and analytics. drive growth with our secret sauce, customer expansion through cross-sales. All products that we've built, will build, or acquire will fit into this framework, which put simply is focused on delivering more customer value over time. Our vision for our Reach product is to be the AI demand gen platform standout. With precision-based tools, Reach delivers clear and measurable lead generation outcomes for customers. We are continuing to invest in our product and operations, ensuring that customers realize meaningful ROI from REACH. We believe this commitment will establish REACH as a leading force in demand generation. We have secured key partnerships that will continually improve the quality of data, and we look forward to sharing additional updates on REACH 2.0 over the coming months. Dimeo, our AI-powered webinar platform, continues to gain meaningful traction with our customers. We significantly enhanced the platform for deeper integration with Salesforce with key enhancements designed to maximize efficiency and insight, offering marketers a more scalable data rich experience. We also released a major improvement to the Demio HubSpot integration to provide unparalleled flexibility and efficiency in managing webinar data. We implemented an AI moderator to Demio, which is powered by our own LLM custom suited to this purpose. that allows our customer to train the AI. Users of their content can interact with the AI to answer all their questions in any language and at any time, allowing marketers to scale across geographies, time zones, and languages. Demio is built to empower marketers to streamline their webinar management and marketing efforts, ultimately leading to better business decision making and higher ROI for our customers. In the fourth quarter, we're continuing to enhance Demio by streamlining the room experience and increasing the room size to support over 10,000 attendees to better suit enterprise organizations. Demio is now more deeply integrated with Salesforce, addressing common pain points for Salesforce account engagement users and greatly reducing the time and effort required for manual processes. We're thrilled to enable the leading AICRM company with a more scalable data-rich experience. We're also expanding our relationship with other key partners, such as HubSpot. We made an enhancement to enable bidirectional sync of data between Demio and HubSpot to better support their customer base of over 190,000. Finally, I'll touch on our newly launched product, Curate, a groundbreaking AI-powered newsletter platform that leverages OpenAI's GPT-4.0 to automate the newsletter creation process by writing relevant, branded articles that resonate with target audiences. Newsletters currently require significant time and resources to create and maintain, but they are a key modern engagement tool for businesses to highlight their brand for their existing and prospective customers. Our goal with Curate is to pull down the cost and effort for our customers to create high-quality newsletters by 90%. Bonsai has a truly top-tier customer base, including the likes of Square, Hewlett Packard Enterprise, Thermo Fisher Scientific, Thinkific, Doodle, and Active Campaign, among thousands of others. We serve a variety of industries, including healthcare, financial services, e-commerce, technology, and media, and in over 90 countries. Our focus going forward is owning the mid-market and enterprise segment while still supporting small business. We're taking a disciplined approach to focus on acquiring stickier, high-value customers. While we continue to invest our resources in product development, we also see an enormous potential for long-term value creation as we scale through strategic acquisitions. We are taking a diligent approach to evaluating potential candidates that can align with the key themes of Bonsai's AI-driven platform, customer acquisition, engagement, and analytics. The opportunity for Bonsai is twofold. First, to increase our product capabilities by acquiring strategically aligned products that serve our core customer base. And second, by accelerating our path to profitability and scale and to hopefully benefit from multiple expansion along the way. Before I pass it to Alden to review our quarterly financial results, I want to highlight our recent efforts that resulted in transformational improvement of our balance sheet. We closed a $5.0 million private placement as well as executed debt payoff and restructuring transactions that represent a total of nearly $29 million in anticipated reduced and restructured liabilities. Alongside these transactions, we implemented a strategic initiative that we expect will enable us to improve net income, substantially extend our cash runway, and invest in growth. We are making significant progress on 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. These efforts are truly transformational for our business and have established a strong foundation that will allow us to execute our growth initiatives and M&A strategy. I will now turn the call over to Alvin Yip, Interim Chief Financial Officer, to discuss our financial results.

Thank you, Joe.