Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Blackbird PLC on Tuesday struck an optimistic tone about the future despite reporting a sharp dive in revenue and a widening of loss.
The London-based technology licensor, developer and seller of cloud video editing platform said pretax loss widened 29% to £2.6 million from £2.0 million. Revenue fell 32% to £1.9 million from £2.8 million.
Looking ahead, Chief Executive Officer Ian McDonough said: ‘I am very excited about 2024 and progressing elevate.io to general release. The creator economy represents a massive opportunity for the company to open up our addressable market and, through elevate.io‘s self-service model, we anticipate this significantly accelerating our revenue growth’.
Blackbird shares fell 5.5% to 5.91 pence each on Tuesday afternoon in London.
Copyright 2024 Alliance News Ltd. All Rights Reserved.