Blackbird (BIRD) Trading update summary

Subscriber growth and marketing impact

• Net paid subscribers for elevate.io increased by 75% in six weeks, reaching 696 at the end of August 2026.

• Conversion rates from free to paid users rose from less than 1.0% to 2.67% in August 2026, following product refinements and renewed marketing efforts.

• Customer acquisition costs dropped by 65%, reflecting more effective marketing strategies.

• The board expresses cautious optimism about maintaining current subscription momentum with continued marketing support.

• Product changes and targeted marketing are credited for the recent acceleration in subscriber growth.

Product and market positioning

• elevate.io is a browser-based collaborative video editing platform aimed at professional teams and the creator economy.

• The platform leverages Blackbird's core cloud-native video technology.

• Blackbird plc operates in SaaS, media, entertainment, and content creation markets.

• The company also licenses its technology to other video companies under the 'Powered by Blackbird' model.