Blackbird Plc · LSE:BIRD
Blackbird — H1 2021 Earnings Presentation
21 slides from Blackbird's earnings presentation, September 2021
Slide 1: Blackbird plc
Last Visit Company Website Industry Referrer Page Views Duration Landing Page Keywords Address Line 1 Town County Country Mar 11 2021 11:28AM 2 Sisters Food Group www.2sfg.com Food and Beverage Production https://www.google.com/ 1 Single Page https://www.proactiveinvestors.co.uk/companies/news/94356
Slide 2: Important Notice
2. Important Notice The information contained in this document (“Presentation”) has The views of the Company’s management/directors and/or its Neither the issue of this Presentation nor any part of its contents is to been prepared by Blackbird plc (the “Company”). The Company is a partners set out i
Slide 3: Who we are & what we do
3. Who we are & what we do Blackbird plc The AIM listed developer and seller of Blackbird ® Cross trades on OTCQX Best Market in U.S.A. Market cap of c. £128 million (8 September 2021) Blackbird IP company Cloud native professional content creation SaaS business model Environmentally friendly "Freed
Slide 4: Executives and the Board
4. Executive s The Board Ian McDonough, CEO Stephen White, CFO/COO Stephen Streater, R&D Director Former EVP of BBC Worldwide, Former VP Finance of NBC Universal, Former Managing Director of Eidos, SVP Managing Director, EMEA of Turner Finance Director, Jetix Europe Blackbird Founder Executives Non-
Slide 5: 2021 Highlights
5. 2021 Highlights • First technology licensing deal signed • Record revenue for 6 months to 30 June up 21% y.o.y. • Two strategic white papers released • Adoption by first major Studio
Slide 6: IP Company
6. IP Company First technology licensing deal signed • evidence of the value of the IP • potential to open up new markets beyond editing • increases Company’s TAM/SAM IP an enabler for 3rd parties • benefits of cloud migration • shift business model from CapEx to SaaS 10 patents granted, additional
Slide 7: Routes to market
7. Routes to market Direct Sales - infrastructure OEM IP licensing Public Cloud
Slide 8: Content creation: TCO vs Share of Wallet
8. Content creation: TCO vs Share of Wallet Total cost of ownership (TCO) in Public Cloud Share of wallet Blackbird saving Value £ Cost £ up to 35% Value x10 Non-Linear Blackbird Non-Linear Blackbird Editor (NLE) Editor (NLE) 3rd party fees NLE licence fees Blackbird licence fees Blackbird takes 10
Slide 9: Blackbird: TAM/SAM
9. Blackbird: TAM/SAM Blackbird 2025 video editing software SAM $0.6billion* 2025 video editing software market forecast $1.1billion Blackbird 2025 video editing SAM SAM $6billion^ IP licensing, other workflows (e.g. marketing clipping, review & approval, content sharing etc) $TBD billion * Excludes
Slide 10: Enabler for Companies to reduce their carbon footprint
10. Enabler for Companies to reduce their carbon footprint • New independently verified Sustainability Report launched Spring 2021 ‘Video shouldn’t cost the earth’ • Blackbird emits up to 91% less carbon than on premise two-week sports event workflow • Interviews conducted with amongst others Sky Ne
Slide 11: 2021 Highlights – selected Deals
11. 2021 Highlights – selected Deals * * * Signed post period
Slide 12: Platform development & roadmap
12. Platform development & roadmap OEM APIs Tech licensing APIs Public Cloud • Metadata read/write • Blackbird proxy creation • Fully-contained Blackbird • Video / audio ingest • VidLib (Player/Editor core) in public cloud • Editor (auto-launch) • Hi-res media render • Increases Scalability • Nodes
Slide 13: 2021 Revenue
13. 2021 Revenue 2021 Revenue Monthly Recurring Revenue 1.0 180 +21% 160 +221% 0.8 140 +49% 120 0.6 100 £000's £millions 80 0.4 60 40 0.2 20 0.0 H1 '19 H1 '20 H1 '21 June, 2019 December, 2019 June, 2020 December, 2020 June, 2021 21% growth in revenues y.o.y. Assumptions: 33% growth in North American
Slide 14: Revenue – new licensing deal
14. Revenue – new licensing deal €2.0million minimum expected revenue from the deal: 1.Development fee • €0.7 million 2. Blackbird revenue share • Blackbird takes share of product’s licence fees • Revenue share underpinned by the following minimum guarantees: Ø 2022 €0.18 million, 2023 €0.22 million
Slide 15: Contracted but unrecognised revenue
15. Contracted but unrecognised revenue* 1.8 1.6 1.4 +105% 1.2 At 31 August 2020 £millions 1.0 At 6 Spetember 2021 0.8 +41% +46% 0.6 +99% 0.4 +68% 0.2 0.0 FY20 FY21 FY21 FY22 FY22 FY23 FY23 FY24 FY24 FY25 FY25 FY26 Current Year (CY) CY+1 CY+2 CY+3 CY+4 CY+5 • £3.80 million contracted but unrecognise
Slide 16: 2021 H1: Cash
16. 2021 H1: Cash Cash burn* of £0.94 million up slightly £0.10 million vs Prior Year • Timing of R&D tax credit payment • Lower interest payments • Investment in Sales, R&D team • Working capital movements Debt free £5.71 million in cash^ at 30 June 2021 * Excluding funds from share issues and tran
Slide 17: Customer testimonials
17. Blackbird is helping EVS expand its live content Blackbird’s high-quality, frame-accurate cloud management and distribution offering with editing software gives our broadcast customers future-proofed cloud-native video editing that a huge competitive advantage. meets the challenging demands of t
Slide 18: Conclusion
18. Conclusion • Carbon and cost efficient • US market growth in period • Evidence of IP value • Doubling of order book
Slide 19: Appendix
19. Appendix
Slide 20: Selected Customers
20. Selected Customers Infrastructure OEM
Slide 21: Appendix: Key financials
21. Appendix: Key financials 6 months 6 months YoY Change 12 months to 30 June 21 to 30 June 20 to 31 Dec 20 Unaudited Unaudited Audited £millions £millions % £millions Revenue 0.87 0.71 21% 1.58 Operating costs (1.66) (1.36) 22% (2.82) EBITDA less LTIP (0.66) (0.71) (7)% (1.32) EBITDA (0.87) (0.71)