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28 September 2026 Blackbird plc ( the " Company " ) Interim results for the 6 months ended 30 June 2026 Blackbird plc ( AIM : BIRD ) , the technology licensor , developer and seller of market - leading cloud native video editing platform , Blackbird , and developer of the online collaborative video editing and content creation platform , elevate.io , announces its interim results for the six months ended 30 June 2026 . Ian McDonough , Executive Chair of Blackbird plc , commented : " Great video shouldn't depend on how expensive your computer is . Our vision for elevate.io puts professional editing in anyone's browser , on any laptop , and lets a whole team build their story together . During this period and through the rollout of elevate.io our main product and marketing objectives are to create a revenue engine that makes economic sense and creates significant value . This requires a repeatable and cost - effective acquisition model , customer retention and product - led growth . As presented at the Company's AGM in June 2026 , our " Go to Market " strategy for elevate.io has identified in house corporate teams as our Ideal Customer Profile . There are multiple reasons for this that include product fit , willingness to pay , low churn and the fact they need to collaborate regularly . We have been aligning our product roadmap to meet the needs of this market . This includes adding features such as voice isolation and custom font designs and the soon to be released features of Al powered motion graphics , animated titling , brand kits and audio editing . We have also interviewed multiple users on a fortnightly basis to gain insights into how they use and interact with elevate.io . What we have seen is teams convert at twice the rate that creators do , share at twice the rate and stay longer . In - house teams remain our north star and it is this customer base from where we expect the majority of our long - term revenue to be generated . However , product - led growth for a creative tool is often kick started by students , creators and early adopters , who become tomorrow's professionals and bring elevate.io into the teams they join . We will therefore continue to fill the top of our funnel with such users , alongside our focus on teams . The overall revenue engine metrics continue to improve . As announced on 3 September 2026 the Company reported August 2026 conversion metrics to be 2.67 % up from 1.0 % in March 2026. The Company is happy to report that the conversion rate had improved to 3.37 % by 24th September 2026 a significant monthly improvement . " Operational highlights ( post period ) 914 subscribers for elevate.io at 24 September 2026 , up by 235 % in the quarter to date Improved conversion rates to 3.37 % at 24 September 2026 Continued enhancement of elevate.io , including : custom fonts allowing businesses to onboard their brand's typeface ensuring consistency with other media assets and brand recognition with audiences ; ■ the release of Al voice isolation ; ■ " the inclusion of recovery points providing users with a ' safety net ' in case of lost data ; continued releases of animations and transitions • • Operational highlights ( during the 6 months ended 30 June 2026 ) " elevate.io was continually enhanced during the period , with multiple features and functionality added including : ■ the integration of services such as subtitles and a music stock library through Epidemic Sounds using in - product tokens for measurement ; editor effects such as colour grading , simple professional animation , recovery points to roll back to previous video versions , added over 1,000 new fonts , additional transitions ; wider browser support with Safari being enabled on macOS ; and voice isolation , which amongst other items enables users to remove background noise More focus on marketing teams in our initial Ideal Customer Profile ( " ICP " ) New pricing tiers were added for elevate.io which are more aligned with our ICP Via our Original Equipment Manufacturer partner EVS SA , the Blackbird platform was used at the global winter games in Italy in February 2026 Selected to join Grow London's UK's Los Angeles trade mission in February 2026 Announced a collaboration with the NatWest Accelerator team to deliver expert insights and practical video editing skills workshops for founders and entrepreneurs . Financial highlights ( during the 6 months ended 30 June 2026 ) Completion of a subscription for £ 0.50m ( pre - expenses ) on 19 January 2026 , a measured amount to allow us to step up our marketing activities at the appropriate time and to strengthen our Balance Sheet Revenues of £ 0.53m for the six months to 30 June 2026 , down 8 % year on year ( six months to 30 June 2025 : £ 0.58m ) . The decrease arose mainly due to the previously announced deal losses of US Department of State and Univision , partially offset by the non - recurring revenues from the winter games Contracted but unrecognised revenues down 31 % year on year to £ 1.04m at 30 June 2026 ( £ 1.51m as at 30 June 2025 ) due to the five year technology licensing contract with EVS SA not being due for renewal until late 2027 . Decreased operating costs of £ 1.43m ( six months to 30 June 2025 : £ 1.61m ) , driven by reduced staff numbers and tight cost control Reduced EBITDA loss of £ 0.99m ( six months to 30 June 2025 : £ 1.15m ) due to lower operating costs partially offsetting lower revenues ( as explained above ) Reduced net loss after tax of £ 1.50m ( six months to 30 June 2025 : £ 1.56m ) due to reduced EBITDA loss partially offset by higher amortisation and lower interest income Cash burn , excluding transfers from short term investments , decreased by 14 % to £ 1.29m ( six months to 30 June 2025 : £ 1.50m ) , due to reduced overheads from lower staff numbers and tight cost control Cash and short - term investments at 30 June 2026 of £ 1.90m ( 30 June 2025 : £ 2.27m ) and no debt Financial highlights ( post period ) Annualised recurring revenue ( " ARR " ) for elevate.io is estimated to grow to £ 91k by the end of September 2026 , from £ 40k at 30 June 2026 ( 30 June 2025 : £ 24k ) . ARR for the Blackbird platform totaled £ 0.95m at the end of the period ( 30 June 2025 : £ 1.13m ) and is estimated to remain flat by the end of September 2026. The decrease since June 2025 relates to previously announced deal losses . Monthly recurring revenues for elevate.io are estimated to grow to £ 5.8k by the end of September , from £ 3.3k at 30 June 2026 ( 30 June 2025 : £ 2.0k ) . Contacts : Blackbird plc Tel : +44 ( 0 ) 20 8879 7245