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Blackbird PLC - London-based cloud-based video editing platform - Nearly halves interim loss to £604,000 from £1.2 million a year ago. Revenue surges 78% to £1.5 million from £867,000. Cash and short-term investments double to £11.6 million at June 30 from £5.7 million a year before.
Looking ahead, Chief Executive Officer Ian McDonough says: ‘Post our fundraise last December, we have made good progress in recruiting key new talent to the business, which was signalled as a key objective of the raise. This new team will be crucial in defining and implementing our products and leveraging our world-class technology, as we enter the sizeable creator economy market.’
Blackbird in December announced an equity raise of £8.0 million.
Further, CEO McDonough adds: ‘As we develop our enterprise solution and start to introduce solutions for the creator economy, these are incredibly exciting times for the company and I look forward to working with my colleagues to deliver further success.’
Current stock price: 19.02 pence, down 4.9% on Wednesday
12-month change: down 44%
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