Blackbird plc (LSE:BIRD) reported an 8% decline in group revenue to £0.53 million for the first half of 2026, while reducing operating costs and progressing development of its elevate.io browser-based video editing platform.
Operating expenses fell to £1.43 million, while the company’s EBITDA loss narrowed to £0.99 million. Blackbird reported a net loss of £1.50 million for the period.
Cash burn declined 14% to £1.29 million. At the half-year end, Blackbird held £1.90 million in cash and short-term investments and reported no debt.
elevate.io Subscribers Reach 914
Blackbird continued to develop elevate.io during the period, with its commercial strategy increasingly focused on in-house corporate and marketing teams.
Management said these customers have demonstrated higher conversion and retention rates and a greater willingness to pay than individual creators.
Following the end of the reporting period, elevate.io subscribers increased to 914. The platform’s estimated annualised recurring revenue rose from £40,000 at the end of June to £91,000 by the end of September.
Annual recurring revenue from Blackbird’s legacy platform declined following previously reported contract losses.
Blackbird Expands elevate.io Features
During the first half, Blackbird added a range of functionality to elevate.io, including AI-based voice isolation, additional browser support, expanded font options and recovery points.
The company also introduced integrations covering features such as subtitles and a stock music library.
Blackbird is seeking to develop a scalable commercial model for elevate.io, with subscriber conversion and recurring revenue among the measures being used to assess the platform’s progress.
Equity Subscription Supports Cash Position
Blackbird completed a £0.50 million equity subscription in January.
The company said its cost reductions and available cash resources are intended to support continued development and commercialisation of elevate.io.
Alongside the newer platform, Blackbird continued its technology licensing and original equipment manufacturer activities. Its Blackbird platform was again used by EVS SA at a major global winter sporting event during the period.
The company also participated in trade missions and accelerator collaborations as part of its efforts to expand its market reach.
About Blackbird
Blackbird is a UK-based software company operating across video editing, media and content creation markets.
The company develops and licenses cloud-native video editing technology through its Blackbird platform and its elevate.io collaborative content creation service. It also licenses its underlying technology to third-party video companies through its Powered by Blackbird model.
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