- BlackBerry press release (NYSE:BB): Q1 Non-GAAP EPS of -$0.03 in-line.
- Revenue of $144M (-61.4% Y/Y) beats by $9.95M.
- Total company non-GAAP and GAAP gross margin was 67%.
- IoT revenue grew 18% year-over-year and exceeded previously-provided guidance at $53 million; IoT gross margin was 81%.
- Cybersecurity exceeded previously-provided guidance at $85 million; Cybersecurity gross margin was 59%.
- Cybersecurity ARR increased by 2% sequentially to $285 million; DBNRR increased sequentially for third consecutive quarter to 87%.
- Licensing and Other revenue was $6 million.
- Non-GAAP operating loss was $12 million and GAAP operating loss was $39 million.
- Adjusted EBITDA was negative $7 million.
- Total cash, cash equivalents, short-term and long-term investments was $283 million; Operating cash usage was sequentially flat at $15 million, while free cash usage decreased sequentially for the third consecutive quarter to $16 million.
- Q2 Outlook: Total BlackBerry revenue: $136 – $144 million vs. consensus of $142.42M; IoT revenue: $50 – $54 million; Cyber revenue: $82 – $86 million; Licensing & Other revenue: Approximately $4 million; Adjusted EBITDA ($5) – ($15) million; Non-GAAP basic EPS ($0.02) – ($0.04) vs. consensus of ($0.01).
- 2025 Outlook: Total BlackBerry revenue: $586 – $616 million vs. consensus of $600.89M; IoT revenue: $220 – $235 million; Cyber revenue: $350 – $365 million; Licensing & Other revenue: Approximately $16 million; Adjusted EBITDA Breakeven – +$10 million; Non-GAAP basic EPS ($0.03) – ($0.07) vs. consensus of ($0.04).
- Shares -0.1% AH.
