BlackBerry(BB)2024-12-20 21:19Financial Performance - For the three months ended November 30, 2024, total segment revenue was 606 million for the same period in 2023[60]. - The Company reported a net loss of 23 million for the same period in 2023[62]. - For the three months ended November 30, 2024, the company's revenue was 152 million for the same period in 2023[76]. - The net loss for the three months ended November 30, 2024, was 21 million in the prior year, marking a 10% reduction[76]. - The company reported a net loss of 0.02 per share, for the three months ended November 30, 2024, compared to a net loss of 0.04 per share, for the same period in 2023[112]. - The company's revenue for the third quarter of fiscal 2025 was 215 million compared to 36 million, down from 93 million from 27 million, down from 282 million, down from 9 million year-over-year to 22 million, or 16.5%, in the first nine months of fiscal 2025 compared to the same period in fiscal 2024[180]. Revenue Streams and Growth Expectations - The Company anticipates revenue growth in fiscal 2025, driven by new product launches and market expansion efforts[44]. - BlackBerry IVY, an emerging intelligent vehicle data platform, is expected to enhance automakers' capabilities in accessing and utilizing vehicle sensor data[47]. - The licensing business remains a key component, managing a global patent portfolio that provides competitive advantages[47]. - The recurring software product revenue percentage was approximately 80% for the three months ended November 30, 2024, an increase from approximately 70% for the same period in 2023[97]. - The Company expects Secure Communications revenue to be between 66 million in Q4 fiscal 2025[126]. - The company now expects IoT revenue for fiscal 2025 to be between 235 million, up from the previous range of 235 million[139]. Cash Flow and Financial Position - The company reported a free cash flow of 33 million in the same period in 2023[93]. - The company had 298 million as of February 29, 2024[112]. - At November 30, 2024, cash and cash equivalents increased by 189 million compared to 53 million to 31 million decrease in short-term investments[185]. Market and Strategic Initiatives - BlackBerry QNX continues to be a preferred supplier for safety-critical embedded systems, targeting industries such as automotive and medical devices[47]. - The Company expects IoT EBITDA to be in the range of 45 million in fiscal 2025, with an EBITDA margin of approximately 18%[132]. - The Company has no intention to update or revise forward-looking statements unless required by applicable law, indicating a stable outlook for its strategic initiatives[44]. - The company is exploring opportunities for the Cylance business as it revisits capital allocation priorities[75]. Performance Metrics - Cybersecurity Annual Recurring Revenue (ARR) reached approximately 273 million a year earlier, indicating an increase of 2.9%[94]. - The Cybersecurity Dollar-Based Net Retention Rate improved to 90% for the three months ended November 30, 2024, compared to 82% for the same period in 2023, representing an increase of 8%[94]. - Secure Communications Annual Recurring Revenue (ARR) was approximately 199 million as of November 30, 2023[123]. - Cybersecurity Dollar-Based Net Retention Rate (DBNRR) was 90% as of November 30, 2024, up from 82% as of November 30, 2023[124]. - Secure Communications DBNRR was 95% as of November 30, 2024, an increase from 91% as of November 30, 2023[124].