Blackbird trims losses as elevate.io subscriptions accelerate

Blackbird ($BIRD-LSE) reported first-half revenue of £0.53 million, down 8%, while its EBITDA loss narrowed to £0.99 million from £1.15 million. The video-editing software company reduced cash burn to £1.29 million from £1.50 million and finished the period with £1.90 million in cash and short-term investments, without debt. Its net loss remained substantial at £1.50 million.

The accompanying trading update showed elevate.io subscriptions reaching 914, a 235% increase during the quarter to date, with conversion improving to 3.37%. That indicates better traction for the newer product, but it does not yet offset the group’s losses. Contracted revenue awaiting recognition fell 31% to £1.04 million, partly because the EVS agreement is not due for renewal until 2027, leaving both liquidity and conversion of demand into revenue important.

Sources:

• Blackbird RNS, via London South East