Banzai International appoints Dean Ditto as new CFO

SEATTLE - Marketing technology company Banzai International, Inc. (NASDAQ:BNZI) announced Wednesday the appointment of Dean Ditto, CPA, as its new Chief Financial Officer, effective July 14, 2025. The appointment comes as the company maintains impressive gross profit margins of 76% despite challenging market conditions, according to InvestingPro data.

Ditto, who brings over 30 years of experience as a financial leader, will replace Interim CFO Alvin Yip, who will transition to the role of Chief Accounting Officer.

Prior to joining Banzai, Ditto served as CFO at Akerna Corp., where he implemented a corporate restructuring plan that generated $6 million in annual cost savings. His previous experience includes CFO positions at Mydecine Innovations Group, Inc., where he raised $40 million through public and private offerings, and Sigue Corporation, where he improved business planning and financial analysis processes.

Ditto has also held financial leadership roles at OSI Systems, Dental Lab Holdings, KARL STORZ Endoscopy-America, Countrywide Home Loans, Giant Bicycle USA, and Ford Motor Company. He holds a Bachelor of Arts in Economics and Management from Albion College and an MBA from Indiana University’s Kelley School of Business.

"We are privileged to have someone of his caliber and financial skill set serve as our CFO," said Joe Davy, Founder and CEO of Banzai, in the press release statement.

Banzai provides AI-enabled marketing and sales solutions for businesses and reports having over 90,000 customers including RBC, Dell Technologies, and New York Life. According to InvestingPro’s Fair Value analysis, the stock appears undervalued at its current price of $4.64. Subscribers can access 15 additional ProTips and a comprehensive Pro Research Report for deeper insights into the company’s financial health and growth prospects.

In other recent news, Banzai International, Inc. reported a remarkable 213% increase in revenue for the first quarter of 2025, reaching $3.4 million. Despite a net loss of $3.6 million, this figure marks an improvement from the previous year’s $4.3 million loss. The company’s gross profit also saw a significant rise to $2.8 million, with a gross margin expansion to 82.1%. Additionally, Banzai has secured an $11 million debt facility to support acquisitions and operational growth, with Rodman & Renshaw LLC acting as the exclusive financial advisor. In a strategic move, Banzai announced a one-for-ten reverse stock split aimed at maintaining compliance with Nasdaq’s minimum bid price requirement. The company has also appointed Michael Kurtzman as Chief Revenue Officer to drive revenue growth in its video business unit. Furthermore, Banzai is in the process of acquiring Acton Software, which is expected to boost its 2025 revenue by $27 million on a pro forma basis. These developments reflect Banzai’s ongoing efforts to enhance its financial health and expand its market presence.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.