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BlackBerry(BB) - 2023 Q3 - Earnings Call Transcript
2022-12-21 01:13
BlackBerry Limited (NYSE:BB) Q3 2023 Results Conference Call December 20, 2022 5:30 PM ET Company Participants Tim Foote - VP, IR John Chen - Executive Chairman and CEO Steve Rai - CFO Conference Call Participants Luke Junk - Baird Mike Walkley - Canaccord Genuity Todd Coupland - CIBC Trip Chowdhry - Global Equities Research Paul Treiber - RBC Capital Markets Operator Good afternoon, and welcome to the BlackBerry Third Quarter Fiscal Year 2023 Results Conference Call. My name is Matt, and I will be your con ...
BlackBerry Limited (BB) RBC Capital Markets Technology, Internet, Media and Telecommunications Conference 2022 (Transcript)
2022-11-15 20:11
BlackBerry Limited (NYSE:BB) RBC Capital Markets Technology, Internet, Media and Telecommunications Conference 2022 November 15, 2022 9:25 AM ET Company Participants Mattias Eriksson - President, BlackBerry IoT Conference Call Participants Paul Treiber - RBC Capital Markets Paul Treiber Right so and thank you, everyone for joining me it's nice to be back in person. My name is Paul Treiber, I cover Canadian Technology stocks at RBC. I'm pleased to be joined by our - presenting our next guests from BlackBerry ...
BlackBerry(BB) - 2023 Q2 - Quarterly Report
2022-09-28 20:16
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-38232 ______________________________________________________ BlackBerry Limited (Exact name of registrant as spec ...
BlackBerry(BB) - 2023 Q2 - Earnings Call Transcript
2022-09-28 09:50
BlackBerry Limited (NYSE:BB) Q2 2023 Results Conference Call September 27, 2022 5:30 PM ET Company Participants Tim Foote - VP, IR John Chen - Executive Chair and CEO Steve Rai - CFO Conference Call Participants Mike Walkley - Canaccord Genuity Luke Junk - Baird Paul Treiber - RBC Capital Markets Todd Coupland - CIBC Trip Chowdhry - Global Equities Research Operator Good afternoon, and welcome to the BlackBerry Second Quarter Fiscal Year 2023 Results Conference Call. My name is Brent, and I will be your con ...
BlackBerry(BB) - 2023 Q1 - Quarterly Report
2022-06-24 20:23
Financial Performance - BlackBerry reported revenue of $168 million for the three months ended May 31, 2022, a decrease of 3.4% compared to $174 million for the same period in 2021[12]. - The company incurred a net loss of $181 million for the three months ended May 31, 2022, compared to a net loss of $62 million for the same period in 2021[12]. - Gross margin for the three months ended May 31, 2022, was $104 million, down from $114 million in the same period of the previous year[12]. - Operating expenses totaled $281 million for the three months ended May 31, 2022, compared to $172 million for the same period in 2021, reflecting an increase primarily due to litigation settlement costs[12]. - The company reported a consolidated loss before income taxes of $178 million for the three months ended May 31, 2022, compared to a loss of $60 million in the same period in 2021[67]. - For the three months ended May 31, 2022, BlackBerry reported a net loss of $225 million, compared to a net loss of $62 million for the same period in 2021, indicating a significant increase in losses[51]. - The basic loss per share for the three months ended May 31, 2022, was $(0.31), compared to $(0.11) for the same period in 2021[12]. - The diluted loss per share for the three months ended May 31, 2022, was $0.35, compared to $0.11 for the same period in 2021[51]. Cash and Liquidity - Cash and cash equivalents increased to $391 million as of May 31, 2022, up from $378 million as of February 28, 2022[7]. - The total cash, cash equivalents, restricted cash, and restricted cash equivalents amounted to $419 million as of May 31, 2022, compared to $406 million as of February 28, 2022[32]. - The company had $721 million in cash, cash equivalents, and investments as of May 31, 2022, indicating a focus on managing liquidity needs[80]. - The company recorded a net cash used in operating activities of $42 million, an increase from $33 million in the prior year[17]. - Approximately 21% of cash and cash equivalents were denominated in foreign currencies as of May 31, 2022, compared to 37% on February 28, 2022[77]. Assets and Liabilities - Total assets decreased to $2,460 million as of May 31, 2022, from $2,567 million as of February 28, 2022[7]. - Total liabilities increased to $1,075 million as of May 31, 2022, compared to $1,011 million as of February 28, 2022[7]. - The company’s accumulated deficit increased to $1,475 million as of May 31, 2022, from $1,294 million as of February 28, 2022[9]. - The company reported a significant increase in accrued liabilities to $304 million as of May 31, 2022, from $157 million as of February 28, 2022[7]. Revenue Segmentation - Cybersecurity segment revenue increased to $113 million in May 2022 from $107 million in May 2021, while IoT segment revenue rose to $51 million from $43 million[63]. - North America accounted for 53.0% of total revenue in May 2022, down from 63.8% in May 2021[68]. - Revenue from products and services transferred over time was $97 million, while revenue from products and services transferred at a point in time was $71 million for the three months ended May 31, 2022[70]. - One customer accounted for 15% of the company's revenue for the three months ended May 31, 2022, compared to no customer exceeding 10% in the same period of the previous year[75]. Investments and Fair Value - The fair value of investments is primarily determined by an independent third-party valuator, with a focus on investment-grade securities[24]. - Non-marketable equity investments are measured using significant unobservable inputs and classified as Level 3 in fair value measurements[26]. - The company’s total investments included $594 million in term deposits, certificates of deposits, and GICs as of May 31, 2022[29]. - The company had private non-marketable equity investments valued at $30 million as of May 31, 2022, with no adjustments made during the period[30]. - The fair value of the 1.75% Debentures decreased to $459 million as of May 31, 2022, reflecting a change in fair value of $(48) million during the period[48]. Operating Expenses - The company reported a litigation settlement expense of $165 million during the three months ended May 31, 2022, which significantly impacted operating expenses[12]. - Research and development expenses for the three months ended May 31, 2022, were $53 million, a decrease from $57 million in the prior year[12]. - Selling, marketing, and administration expenses increased to $82 million for the three months ended May 31, 2022, compared to $73 million in the same period last year[12]. Tax and Regulatory Matters - The company's net effective income tax expense rate was approximately 2% for the three months ended May 31, 2022, compared to 3% for the same period in 2021[45]. - The company recorded $4 million in government subsidies during the three months ended May 31, 2022, down from $15 million in the same period of the previous year[82]. Other Considerations - The company is involved in various litigations, including patent infringement claims, which could result in significant liabilities[56]. - The company has a contingent performance-based cash award of $90 million for its Executive Chair and CEO, which will be payable if the share price reaches $30 before November 3, 2023[58]. - The company has not made any accruals for claims assessed as reasonably possible to result in loss but not estimable[57].
BlackBerry(BB) - 2023 Q1 - Earnings Call Transcript
2022-06-24 01:49
BlackBerry Limited (NYSE:BB) Q1 2023 Earnings Conference Call June 23, 2022 5:30 PM ET Company Participants Tim Foote - Vice President, Investor Relations John Chen - Executive Chair and Chief Executive Officer Steve Rai - Chief Financial Officer Conference Call Participants Paul Treiber - RBC Capital Markets Trip Chowdhry - Global Equity Todd Coupland - CIBC Daniel Chan - TD Securities Operator Good afternoon and welcome to the BlackBerry First Quarter Fiscal Year 2023 Results Conference Call. My name is B ...
BlackBerry(BB) - 2022 Q4 - Annual Report
2022-04-01 21:16
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________ FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended February 28, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-38232 ______________________________________________________ BlackBerry Limited (Exact name of registrant as specified ...
BlackBerry(BB) - 2022 Q3 - Quarterly Report
2021-12-22 21:31
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended November 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-38232 ______________________________________________________ BlackBerry Limited (Exact name of registrant as sp ...