Blackbird Plc · LSE:BIRD
Blackbird — H1 2023 Earnings Presentation
22 slides from Blackbird's earnings presentation, September 2023
Slide 1: Interim results September 2023
Interim results September 2023 Presentation team: Ian McDonough (CEO) Stephen White (COO/CFO)
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 been prepared by Blackbird plc (the “Company”). The Company is a partners set out in th
Slide 3: Who we are & What we do
3 Who we are & What we do Blackbird plc AIM listed Developer and seller of Blackbird® Creator SaaS product launching 2024 Creator Patented technology Proven tech Highly scalable and efficient Marquee customers
Slide 4: 2023 to date
4 2023 to date • Aligning with fast growing Creator economy • Approaching early access phase with Creator SaaS product • Doubling down on development and product
Slide 5: Blackbird in Action in 2023
5 Blackbird in Action in 2023 “We are using Blackbird for almost two years and we (totally) love it” Global Sports Federation “Blackbird is robust and reliable” U.S. Department of State * All images from Getty Images and Shutterstock
Slide 6: Market context – Media and Entertainment
6 Market context – Media and Entertainment • 2023-27 will be a period of muted top line growth1 • Widespread layoffs across media and tech industries2 • Structural changes within the Broadcast industry 1 Source https://www.pwc.com/gx/en/industries/tmt/media/outlook/insights-and-perspectives.html • 2
Slide 7: Revenue
7 Revenue Monthly Recurring Revenue (MRR) • Slow moving Media & Entertainment market • A+E contract loss driving majority of fall • Excludes annual minimum guarantee on tech licensing deal (FY23: €220k)
Slide 8: Order Book
8 Order Book Contracted but unrecognised revenue* Total order book £2.1 million down 36% vs 30 June 2022 (£3.3 million)
Slide 9: Cash
9 Cash • Strong balance sheet with £8.2 million in cash^ at 30 June 2023 • Increased investment in Creator SaaS product • Cash burn* of £1.9 million up by £0.7 million vs PY • Debt free * Excluding funds from share issues and transfers into short-term deposits ^ Includes short-term deposits
Slide 10: Market context – Creator economy
10 Market context – Creator economy • $250 billion market size estimated to double by 20271 • 303 million creators with c.100 million creators in video and podcasts2 • c. $6.9 billion initial addressable market for pro teams and prosumers3 • 1 Source https://www.goldmansachs.com/intelligence/pages/t
Slide 11: Strategic Direction
Strategic Direction a by BLACKBIRD
Slide 12: Market Leaders
Market Leaders AV i> Avid Media Composer Davinci Resolve = > =) Apple Final Cut Pro Adobe Premiere Pro y BLACKBIRD
Slide 13: Market Validation
Market Validation ozone 4; Scenery SX CapCut (runway y BLACKBIRD
Slide 14: Creator SaaS
14 Creator SaaS • Architected on Amazon Web Services (AWS) • Initial customers pro teams and prosumers • Investor special event on 13 September
Slide 15: World class team and technology
15 World class team and technology • Track record in successfully scaling growth phase tech businesses • Proven technology with ‘A’ list Clientele base • 29 patents including those pending
Slide 16: Conclusions
16 Conclusions • Strategy validation • Right team, technology and timing • Very strong balance sheet
Slide 17: Appendix
Appendix y BLACKBIRD
Slide 18: Appendix: Key Financials
18 Appendix: Key Financials 6 months to 30/06/23 6 months to 30/06/22 YoY Change 12 months to Unaudited Unaudited 31/12/22 £millions £millions Audited £millions Revenue 0.99 1.55 (36)% 2.85 Operating costs (2.42) (2.11) 15% (4.51) Adjusted EBITDA pre LTIP & share options expense ~ (1.51) (0.64) 137%
Slide 19: The Board
19 The Board Executives 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 Non-Executives A
Slide 20: Management Team
Management Team s lan McDonough CEO &) Stephen Streater R&D Director Stephen White CFO/COO. x Morgan Henry VP Engineering a Sumit Rai CPO Daniel Webster VP Strategic Accounts US Mo Volans SVP Product Marketing 4 Huw Dymond VP Product & Operations = Caroline Steiner Director, Communications & Custome
Slide 21: Selected Customers
Selected Customers Infrastructure @CBS SPORTS FIFA @ ches Wunivision MAuure OEM EvS §4BLox TATA COMMUNICATIONS deltatre LiveU IMG aws ® Google Cloud Sy
Slide 22: Expanding our Reach
22 Expanding our Reach “Blackbird is top of the pyramid…” Jan Ozer, Streaming Media magazine • Creator economy $250bn market & rapidly expanding • Leverage our technological advantages • Become frictionless