(Alliance News) - 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 GBP2.6 million from GBP2.0 million. Revenue fell 32% to GBP1.9 million from GBP2.8 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.
By Tom Budszus, Alliance News slot editor
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Blackbird (BIRD)