Blackbird plc (BIRD) Q4 2025 Earnings Call

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WEBVTT 00:00:01.617 -- 00:00:05.042 Good morning, ladies and gentlemen, and welcome to the Blackbird PLC four-year results 00:00:05.042 -- 00:00:07.625 investor presentation. Questions are encouraged. 00:00:07.625 -- 00:00:11.210 They can be submitted at any time via the Q&A tab that's just situated on the right-hand 00:00:11.210 -- 00:00:15.296 corner of your screen. Please simply type in your questions and press send. 00:00:15.296 -- 00:00:18.040 The company may not be in a position to answer every question it receives during the 00:00:18.040 -- 00:00:21.645 meeting itself. However, the company can review all questions submitted today and will 00:00:21.645 -- 00:00:23.768 publish those responses where it's appropriate to do so. 00:00:23.768 -- 00:00:26.692 Before we begin, we would just like to submit the following poll. 00:00:26.692 -- 00:00:30.237 And if you could give that your kind attention, I'm sure the company would be most grateful. 00:00:30.237 -- 00:00:34.278 And I would like to hand you over to the executive management team from Blackbird PLC. 00:00:34.278 -- 00:00:36.582 Ian, good morning, sir. Morning, sir. 00:00:36.582 -- 00:00:40.367 Good morning, Jake. Thank you very much. And good morning, ladies and gentlemen. 00:00:40.367 -- 00:00:44.752 Welcome to our Blackbird presentation for your results for 2025. 00:00:44.752 -- 00:00:48.697 So before we start and get into our presentation, I just want to cover three topics. 00:00:48.697 -- 00:00:54.004 The first one being on Elevate, which is that Elevate is still in our product market 00:00:54.004 -- 00:00:55.626 fit stage. 00:00:55.626 -- 00:00:59.390 We are therefore not spending huge amounts on direct marketing. 00:00:59.390 -- 00:01:04.417 We are spending money on some marketing, those long-term strate...