About this content About William Farrington William kickstarted his career as a researcher and reporter for a global legal publication, covering everything from public law to M&A. Before moving to Proactive Investors, he worked as a reporter for a major fintech company with a focus on cryptocurrency and blockchain technology. Harking from Queensland, Australia, William obtained first-class honours in journalism and media from Birkbeck University before going on to complete an MA in creative and critical ...

BlackBerry Ltd shares rose more than 6% in after-hours trading on Wednesday following the company’s unexpected adjusted profit in its latest quarter, showcasing significant sales growth in its cybersecurity and internet-of-things (IoT) businesses.BlackBerry earnings score big on IoT Copy link to section BlackBerry’s fiscal fourth quarter marked its “strongest-ever quarter” for the company’s IoT division, with CEO John J. Giamatteo noting that the company also made significant strides in advancing its cybers ...

BlackBerry Limited (NYSE:BB) Q4 2024 Earnings Conference Call April 3, 2023 5:30 PM ET Company Participants Tim Foote - CFO Cybersecurity Division and Head of IR John Giamatteo - CEO Steve Rai - CFO Conference Call Participants Mike Walkley - Canaccord Genuity William Kerwin - Morningstar Paul Treiber - RBC Capital Markets Operator Good afternoon, and welcome to the BlackBerry Fourth Quarter and Full Fiscal Year 2024 Results Conference Call. My name is MJ, and I'll be your conference moderator for today's c ...

IoT Division Performance - IoT division achieved record quarterly revenue of $66 million, a 25% year-over-year increase, with a gross margin of 85%[3] - IoT segment revenue grew from $53 million in February 2023 to $66 million in February 2024, an increase of 24.5%[22] - IoT segment gross margin improved from 81% in February 2023 to 85% in February 2024[22] - BlackBerry launched QNX® Software Development Platform 8.0 and QNX® Sound, targeting next-generation automotive and IoT systems[5] - QNX royalty backlog grew 27% year-over-year to $815 million[2] - QNX Royalty Backlog totaled $815 million for the three months ended February 29, 2024[42] Cybersecurity Division Performance - Cybersecurity division revenue increased by 5% year-over-year to $92 million, with ARR growing 3% sequentially to $280 million[3] - Cybersecurity segment revenue increased from $88 million in February 2023 to $92 million in February 2024, a growth of 4.5%[22] - Cybersecurity segment gross margin increased from 59% in February 2023 to 65% in February 2024[22] - Cybersecurity Annual Recurring Revenue (ARR) reached $280 million for the three months ended February 29, 2024[42] - Cybersecurity Dollar-Based Net Retention Rate (DBNRR) stood at 85% for the three months ended February 29, 2024[42] - Cybersecurity Total Contract Value (TCV) billings amounted to $91 million for the three months ended February 29, 2024[42] Financial Performance Overview - Total company revenue for Q4 was $173 million, with non-GAAP and GAAP gross margin increasing to 75%[3] - Adjusted EBITDA for Q4 was $21 million, with cash used by operations decreasing by 52% sequentially to $15 million[3] - Full-year revenue for FY24 was $853 million, including $218 million from the sale of a legacy patent portfolio in Q1[4] - BlackBerry expects FY25 revenue to be between $586 million and $616 million, with IoT revenue projected at $220-$235 million and Cybersecurity revenue at $350-$365 million[7] - Cash and cash equivalents decreased from $295 million in February 2023 to $175 million in February 2024, a decline of 40.7%[19] - Net loss improved from $734 million in February 2023 to $130 million in February 2024, a reduction of 82.3%[21] - Total segment gross margin improved from 67% in February 2023 to 75% in February 2024[22] - Total assets decreased from $1,679 million in February 2023 to $1,395 million in February 2024, a decline of 16.9%[19] - Gross margin for the three months ended February 29, 2024, was $129 million, compared to $100 million in the same period last year, with a gross margin percentage of 74.6%, up from 66.2%[27] - Adjusted operating expense for the three months ended February 29, 2024, was $113 million, down from $118 million in the same period last year[28] - Net loss for the three months ended February 29, 2024, was $56 million, compared to a net loss of $495 million in the same period last year, with adjusted net income of $16 million[29] - Research and development expense for the three months ended February 29, 2024, was $40 million, down from $48 million in the same period last year, with adjusted R&D expense of $38 million[30] - Adjusted EBITDA for the three months ended February 29, 2024, was $(12) million, compared to $(17) million in the same period last year, with an adjusted EBITDA margin of 12%[31] - Gross margin for the fiscal year ended February 29, 2024, was $520 million, compared to $419 million in the previous fiscal year, with a gross margin percentage of 61.0%, down from 63.9%[33] - Adjusted operating expense for the fiscal year ended February 29, 2024, was $487 million, down from $516 million in the previous fiscal year[34] - Net loss for the fiscal year ended February 29, 2024, was $130 million, compared to a net loss of $734 million in the previous fiscal year, with adjusted net income of $31 million[35] - Adjusted EBITDA for the fiscal year ended February 29, 2024, was $57 million, compared to $(71) million in the previous fiscal year, with an adjusted EBITDA margin of 7%[37] - Free cash usage for the fiscal year ended February 29, 2024, was $10 million, compared to $270 million in the previous fiscal year[40] Licensing and Other Segment Performance - Licensing and Other segment revenue rose from $10 million in February 2023 to $15 million in February 2024, a 50% increase[22] - Licensing and Other segment gross margin rose from 60% in February 2023 to 87% in February 2024[22] Corporate and Strategic Developments - The company completed a $200 million convertible notes offering and repaid $150 million of short-term debentures[5] - BlackBerry appointed Philip Brace, an IoT industry veteran, to its Board of Directors[5] - Recurring Software Product Revenue Percentage was approximately 90% for the three months ended February 29, 2024[42]

Delivers year-over-year revenue growth for both IoT and Cybersecurity divisions IoT division reports record revenue quarter and QNX royalty backlog of $815 million Cybersecurity division stabilizes ARR, with sequential growth and DBNRR improvement Significantly improves operating cash usage sequentially and expects to be cashflow and adjusted EBITDA positive for FY25 Non-GAAP earnings per share beats expectations WATERLOO, Ontario, April 3, 2024 /PRNewswire/ -- BlackBerry Limited (NYSE: BB; TSX: BB) today ...

BlackBerry Limited (BB) is scheduled to report fourth-quarter fiscal 2024 results on Apr 3.The Zacks Consensus Estimate is pegged at a loss of 3 cents per share, which remained unchanged over the past 60 days. The company reported a loss of 2 cents in the prior-year quarter.In the last reported quarter, BB reported adjusted earnings per share (EPS) of 1 cent. In the prior-year quarter, it incurred non-GAAP loss of 5 cents. Quarterly total revenues were $175 million compared with $169 million in the prior qu ...

BlackBerry (BB) and Carahsoft Technology Corp. have partnered to offer BlackBerry's cybersecurity products through Carahsoft's National Association of State Procurement Officials (NASPO) ValuePoint contract.The collaboration allows state and local governments and educational institutions to access BlackBerry's robust cybersecurity solutions. NASPO ValuePoint is a cooperative purchasing program that facilitates agreements and solicitations for public procurement by using a lead-state approach.BlackBerry's cy ...

WATERLOO, ON, March 20, 2024 /PRNewswire/ -- BlackBerry Limited (NYSE: BB; TSX: BB) will report results for the fourth quarter of fiscal year 2024 at 5:30 p.m. ET on Wednesday, April 3, 2024.  The conference call can be accessed as a live webcast using the following link (here) or through the Company's investor webpage (BlackBerry.com/Investors) or by dialing toll free +1 (877) 883-0383 and entering Elite Entry Number 6322676.A replay of the conference call will be available at approximately 8:30 p.m. ET on ...

BlackBerry's Innovative Cyber Defense Offerings Now Available to State and Local Governments, K-12 School Districts and Higher Education Institutions WATERLOO, Ontario and RESTON, Va., March 20, 2024 (GLOBE NEWSWIRE) -- BlackBerry Limited (NYSE:BB, TSX:BB) and Carahsoft Technology Corp., The Trusted IT Solutions Provider®, today announced that BlackBerry's cybersecurity products have been added to Carahsoft's National Association of State Procurement Officials (NASPO) ValuePoint contract. The contract addit ...

New cybersecurity leadership program to be offered under the BlackBerry Cybersecurity Center of Excellence (CCoE) in Kuala Lumpur, with full-tuition scholarships available for women CYBERJAYA, Malaysia, March 19, 2024  /PRNewswire/ -- BlackBerry Limited (NYSE: BB; TSX: BB) and Rogers Cybersecure Catalyst ("the Catalyst"), Toronto Metropolitan University's national center for training, research  and innovation, announced today a new partnership that, for the first time, will offer the Catalyst's world-class ...