Blackbird (BIRD) H2 2025 earnings summary

Executive summary

• Elevate remains in the product-market fit stage, with disciplined spending and a focus on long-term strategies rather than direct marketing.

• Blackbird reported a GBP 380,000 profit, retaining high-value customers in sports and news, and executed major events like the Winter Games.

• The company has about 12 months of cash runway and maintains a disciplined cost base.

• Elevate aims to address inefficiencies in the media supply chain, targeting creators and marketing teams for collaborative video editing.

Financial highlights

• Blackbird achieved a GBP 380,000 profit for the year.

• A small fundraise was completed before Christmas to ensure sufficient capitalization.

• The company has a 12-month cash runway at the current burn rate.

Outlook and guidance

• Direct marketing spend will increase only after achieving product-led growth and product-market fit.

• The company is not yet providing forecasts, awaiting a repeatable revenue engine and sustained momentum.

• Product development is accelerating, with foundational work enabling faster feature releases.