As filed with the Securities and Exchange Commission on September 12, 2025 Registration No. 333-[ ] UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Banzai International, Inc. (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction of Incorporation or Organization) Delaware 7372 85-3118980 (Primary Standard Industrial Classification Code No.) (I.R.S. Employer Identification No.) 435 Ericksen A ...

Financial Data and Key Metrics Changes - In Q2 2025, the company reported a strong top-line growth of 24%, primarily driven by CPaaS and the rollout of Zenvia Customer Cloud [3][4] - Consolidated adjusted gross profit fell to R$69 million, with a gross margin down to 24%, although this margin remained stable compared to Q1 [4][5] - Normalized EBITDA for the quarter was R$11 million, which was below expectations, but a progressive recovery is anticipated throughout the year [5][12] Business Line Data and Key Metrics Changes - SaaS revenues grew by 3% year over year in Q2, mainly from SMB customers, while Zenvia Customer Cloud revenues increased by 23% in the first half of the year [5][6] - CPaaS revenues were up by 33%, accounting for 72% of total revenues, but this higher mix with low margins negatively impacted gross profits and margins [7][10] - Adjusted gross profit for the SaaS business was up 5% year over year to R$45 million, with adjusted gross margin slightly up by 1 percentage point to 55% [8][9] Market Data and Key Metrics Changes - The market remains highly volatile and competitive, particularly affecting profitability in the short term [4][13] - The company expects CPaaS margins to normalize closer to 20% by Q4 of this year [10][22] Company Strategy and Development Direction - Zenvia Customer Cloud is positioned as the new core business, with expectations of 25% to 30% growth in 2025 [6][12] - The company is focusing on streamlining operations and enhancing efficiency, with AI playing a significant role in both client delivery and internal operations [13][36] - There is an ongoing evaluation of options to divest non-core assets to optimize the balance sheet [13][29] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the competitive landscape and pricing pressures but believes that the current strategy will lead to long-term profitability recovery [22][25] - The company is confident in achieving a solid foundation for 2026, with expectations of improved profitability levels by the end of the year [12][36] Other Important Information - G&A expenses decreased by R$9 million, or 27%, compared to the same period last year, bringing the G&A to revenues ratio down to 9% [5][11] - The company has seen a significant reduction in G&A expenses, now at one-third of what it was in the first half of 2022 [11] Q&A Session Summary Question: Can you provide more color on forward guidance for Zenvia Customer Cloud? - The company maintains expectations of around R$200 million in revenues for Zenvia Customer Cloud, with growth around 25% and gross margin close to 70% [18][19] Question: Are tight margins on the CPaaS side the new level? - Management indicated that while margins are under pressure, they expect stabilization at a higher level by year-end as cost increases from carriers are passed through [22][23] Question: How is the enterprise side performing for both Zenvia Customer Cloud and the rest of SaaS? - The company has been able to retain enterprise customers and is seeing adoption of Zenvia Customer Cloud by these clients, which was not the initial focus [26][27] Question: Can you provide insights on cash flow and divestitures? - The trailing 12 months EBITDA is close to R$100 million, with approximately R$60 to R$65 million in cash flow available to serve debt, indicating a near break-even position by year-end [28][29] Question: What will the business look like in two to three years? - The company aims to become a leading AI CX SaaS provider, transitioning from volatile revenues to a more stable, high-margin business model [36][38]

Core Insights - TEN Holdings is transitioning to a SaaS model with its Ten Events Pro platform, positioning itself to leverage the $1 trillion global SaaS market, which is expected to grow at a CAGR of 18.7% through 2030 [2][9] - The Early Adopter Program for TenPro is set to refine the platform before its full launch in early 2026, indicating a strategic shift from traditional event services to scalable SaaS delivery [3][9] - The SaaS model offers clients cost efficiency, flexibility, and predictable subscription pricing, enhancing scalability for global enterprises [4][9] Company Developments - TEN Holdings has launched an Early Adopter Program for TenPro, allowing select clients to access the platform in beta starting July 1, 2025 [3] - Analyst Barry M. Sine has expressed confidence in TEN's execution and customer traction, reaffirming revenue forecasts and a bullish outlook on long-term growth potential [7] - The company is actively pursuing M&A opportunities, with expectations for at least one acquisition before year-end, which could enhance global scale and operational synergies [8] Industry Trends - The SaaS model is recognized as the fastest-growing model in technology, providing predictable recurring revenue and higher valuations, which has attracted significant investor interest [5][9] - Organizations transitioning to SaaS are experiencing robust market enthusiasm and rapid expansion in their listings, indicating a structural momentum in the industry [5][9]

Group 1 - Sprinklr (NYSE: CXM) has experienced revenue stagnation early in its journey as a customer experience management SaaS company, which is concerning given the generally supportive environment for AI-enabled SaaS products [1] - The stagnation in revenue growth may indicate challenges for the company in capitalizing on market opportunities [1] Group 2 - The article does not provide any specific financial metrics or performance data related to Sprinklr's revenue or growth rates [1]

Core Insights - Sprinklr (NYSE: CXM) has experienced revenue stagnation early in its journey as a customer experience management SaaS company, which is concerning given the generally supportive environment for AI-enabled SaaS products [1] Company Analysis - The stagnation in revenue growth for Sprinklr suggests potential challenges in capturing market opportunities within the customer experience management sector [1] - The current market conditions are favorable for AI-enabled SaaS products, making Sprinklr's performance particularly noteworthy [1]

HubSpot (NYSE:HUBS) 2025 Conference Summary Company Overview - **Company**: HubSpot - **Event**: 2025 Conference - **Date**: September 10, 2025 - **Location**: San Francisco, Moscone Center - **Attendance**: Approximately 13,000 participants Key Themes and Insights 1. Innovation and Product Updates - HubSpot showcased over 200 updates and features across its platform during the Inbound conference, emphasizing a strong pace of innovation [5][6] - The transformation of the Operations Hub into a Data Hub was highlighted, focusing on the importance of data for AI applications [6][10] 2. Data Strategy - HubSpot's core platform integrates data for marketing, sales, service, and operations, which is a primary reason for its customer base growth to over 270,000 [10] - Customers are at various stages in their data journey, with some ready to adopt AI and others just beginning to organize their data [11] 3. Marketing Transformation - The introduction of "The Loop," a new marketing playbook, addresses the disruption in search due to AI, noting that 60% of Google searches result in zero clicks [17][18] - The playbook emphasizes the need for human authenticity, data-driven personalization, and multi-channel engagement [20][21] 4. AI Integration - HubSpot has launched AI agents and a custom agent builder, which are integral to its strategy for enhancing customer engagement and operational efficiency [6][21] - The company is focusing on AI Engine Optimization (AEO) as a new marketing strategy, which differs from traditional SEO by targeting specific user queries [28][32] 5. Customer Engagement and Growth Strategy - HubSpot's strategy includes catering to both small businesses and larger companies, with a focus on lowering barriers for new customers [73][74] - The company has seen a shift in lead generation, with significant growth from social media, podcasts, and newsletters, while traditional blog leads have declined [27] 6. Pricing Strategy - HubSpot is adopting a hybrid pricing model that combines seat-based and usage-based pricing, allowing for flexibility and value delivery [90][96] - The company emphasizes delivering value before monetization, which has been a cornerstone of its pricing philosophy [94][96] 7. Future Growth Potential - HubSpot anticipates accelerating growth through platform consolidation, multi-hub adoption, and the integration of AI into its offerings [81][82] - The company is optimistic about re-accelerating its net new Annual Recurring Revenue (ARR) and improving its net retention rate [78][81] Additional Insights - The company has made strategic acquisitions, such as The Hustle, to diversify its marketing channels and enhance lead generation [26][27] - HubSpot's ability to maintain context across its platform is seen as a competitive advantage over AI-native startups [53][66] - The integration of LLMs (Large Language Models) is viewed as complementary to HubSpot's existing capabilities, enhancing customer insights and actions [63][64] This summary encapsulates the core discussions and strategic insights shared during the HubSpot 2025 Conference, highlighting the company's focus on innovation, data integration, marketing transformation, and growth strategies.

Core Insights - Fundbox has entered into an agreement with EverCommerce Inc. to provide fast and flexible funding solutions directly integrated into the platforms used by small and medium-sized businesses (SMBs) [1][4] - The collaboration aims to enhance the financial ecosystem for contractors and home service professionals, allowing them to access capital whenever needed [3][5] Company Overview - Fundbox is a pioneer in embedded capital products for SMBs, having helped over 150,000 small businesses unlock more than $6 billion in capital since its inception in 2013 [7] - EverCommerce is a leading service commerce platform that supports over 725,000 global service-based businesses with integrated SaaS solutions [8] Integration Details - The integration will provide customers of EverPro's brands, including Joist and Invoice Simple, with seamless access to capital, supporting over 350,000 small businesses across the US, UK, Canada, and Australia [2][4] - Fundbox's embedded capital engine evaluates a business's financial profile using data from various sources, offering a more accurate assessment of business health [5]

Klaviyo (NYSE:KVYO) 2025 Conference Summary Company Overview - **Company**: Klaviyo - **Ticker**: NYSE:KVYO - **Date of Conference**: September 09, 2025 Key Points Company Vision and Evolution - Klaviyo aims to empower businesses and creators to scale their operations and maintain authenticity at internet scale, evolving from a marketing tool to a comprehensive customer experience platform [4][5][6] - The company is transitioning from traditional SaaS models to an autonomy layer that automates marketing strategies and campaigns, allowing businesses to focus on approval rather than setup [7][8][9] Product Development and Features - Klaviyo is enhancing its product offerings with features like the Customer Agent, which facilitates real-time conversations and personalized experiences for consumers [10][11] - The Customer Hub product personalizes user experiences on websites and mobile apps, tailoring content based on user identity [10][11] - The company is focused on integrating AI into its platform to improve customer interactions and streamline marketing processes [12][14] Market Dynamics and Competition - The current landscape shows a consolidation trend in the SaaS market, driven by the need for unified data systems and seamless user experiences [15][17][18] - Klaviyo recognizes the rise of AI-native competitors and is positioning itself to leverage AI for enhanced customer engagement and operational efficiency [19][20][26] Customer Segmentation and Targeting - Klaviyo initially focused on B2C use cases but is expanding into B2B, recognizing the value of tailored experiences for high-value customers [30][31][32] - The company aims to serve businesses of all sizes, from small entrepreneurs to large enterprises, by simplifying complex systems and providing scalable solutions [63][66] Data Infrastructure and Technology - Klaviyo's data platform is designed to handle various data types efficiently, allowing for rapid querying and real-time insights [36][37] - The company is exploring new data storage technologies, including vector databases, to enhance its AI capabilities and support enterprise-level data modeling [72][74] Future Outlook - Klaviyo is committed to continuous innovation, particularly in AI and customer experience, to stay ahead in a rapidly evolving market [40][43] - The company is focused on building a robust developer ecosystem to encourage third-party applications that enhance its platform [51][52] Organizational Changes - Klaviyo has undergone a reduction in force to streamline operations and reinvest resources into AI and product development [54][56] - The company emphasizes the importance of hiring talent that is proactive in AI and technology, aligning with its vision for the future [57][59] Conclusion - Klaviyo is positioning itself as a leader in the marketing and customer experience space by leveraging AI, enhancing product offerings, and focusing on customer-centric solutions, while navigating a competitive landscape marked by consolidation and technological advancements [14][15][19][40]

Core Viewpoint - Salesforce, Inc. (NYSE:CRM) is recognized as a significant player in the AI sector, with analysts maintaining a positive outlook despite a price target reduction to $300 from $375, reflecting a strong buy rating [1][2]. Financial Summary - CFRA analysts have adjusted the 12-month price target to $300 based on a P/E ratio of approximately 21.3x the projected CY 27 EPS of $14.13, which is considered a substantial discount to historical averages [3]. - Following solid results for the July quarter, the FY 26 EPS estimate has been increased to $11.35 from $11.30, while FY 27 remains at $12.58, and FY 28 EPS is projected at $14.13 [3]. AI Integration and Market Position - Analysts believe that AI will enhance Salesforce's SaaS offerings rather than replace them, leveraging the company's access to enterprise data and solutions [4]. - A notable increase of 60% in customers transitioning from pilot to production for the Agentic AI offering indicates expanding use cases and scaling potential [4]. - The Agentic enterprise applications are expected to deliver significant productivity improvements and savings, which could lead to better monetization and pricing strategies [4]. Competitive Landscape - While Salesforce is viewed as a potential winner in the SaaS market amidst AI advancements, some analysts suggest that other AI stocks may present greater upside potential with less downside risk [5].

Company Overview - Figma is a collaborative design platform utilized by millions for creating, prototyping, and delivering digital products, primarily generating revenue through subscription software [3][5] - The company reported a 41% year-over-year revenue increase to nearly $250 million, indicating strong growth despite market challenges [4][7] Financial Performance - Figma's second-quarter 2025 results showed modest operating income of $2.1 million with a slim 1% margin, while non-GAAP operating income was $11.5 million, reflecting a healthier 5% margin [7] - Operating cash flow was strong at $62.5 million with a 25% margin, and adjusted free cash flow was solid at $60.6 million, or a 24% margin [8] - The company holds a robust cash balance of $1.6 billion, providing ample room for growth and innovation [8] Growth Drivers - Figma's growth is supported by recent acquisitions, including Modyfi for advanced animation tools and Payload for content management, enhancing its platform capabilities [9][10] - Over 80% of customers used at least two Figma products in the latest quarter, indicating strong cross-product adoption [11] - Upcoming AI-powered features aim to attract new user groups, potentially expanding Figma's customer base and revenue opportunities [12] Future Projections - The company expects third-quarter revenue between $263 million and $265 million, representing about 33% growth year-over-year [13] - For the full year 2025, revenue is forecasted to reach between $1.021 billion and $1.025 billion, showing a strong 37% increase over 2024 [13] - Analyst Brent Bracelin predicts annual recurring revenue could triple to over $3 billion by 2030, with free cash flow margins approaching 30% [15] Market Sentiment - Figma's stock has experienced significant volatility, dropping 60% from its highs, leading to discussions about whether this represents a buying opportunity [5][17] - Analyst coverage is limited, but Piper Sandler recently initiated coverage with an "Overweight" rating and a price target of $85, suggesting a potential upside of about 10% from current levels [14] - The broader market consensus among analysts is a "Hold" rating with an average price target of $67.57, indicating a potential upside of roughly 27% [16]