WATERLOO, ON, Dec. 21, 2021 /PRNewswire/ -- BlackBerry Limited (NYSE: BB; TSX: BB) today reported financial results for the three months ended November 30, 2021 (all figures in U.S. dollars and U.S. GAAP, except where otherwise indicated).
"This quarter BlackBerry delivered solid sequential billings and revenue growth for both the IoT and Cybersecurity businesses, beating expectations for the second consecutive quarter. We also beat expectations on earnings, despite the ongoing investment to drive future top line growth," said John Chen, Executive Chairman & CEO, BlackBerry. "In IoT our QNX business achieved a quarterly record for design-related revenues, performing stronger than expected despite ongoing industry supply chain headwinds. On the Cybersecurity front we saw further traction for our recent unified endpoint security product launches with additional head-to-head wins against other next-gen players. I am excited about how the current organization is executing to take advantage of the market opportunities."
Third Quarter Fiscal 2022 Financial Highlights
- Total company revenue for the third quarter of fiscal 2022 was $184 million.
- Total company non-GAAP and GAAP gross margin was 64%.
- IoT revenue for the third quarter of fiscal 2022 was $43 million, with gross margin of 81% and ARR of $91 million.
- Cybersecurity revenue for the third quarter of fiscal 2022 was $128 million, with gross margin of 59% and ARR of $358 million.
- Licensing and Other revenue for the third quarter of fiscal 2022 was $13 million, beating expectations. Gross margin was 54%.
- Non-GAAP operating loss was $24 million. GAAP operating profit was $51 million.
- Non-GAAP breakeven earnings per share (basic and diluted). Basic GAAP profit per share was $0.13 and diluted GAAP loss per share was $0.05.
- Total cash, cash equivalents, short-term and long-term investments were $772 million.
- Total net cash position was $407 million.
- Net cash used by operating activities was $19 million.
Business Highlights & Strategic Announcements
IoT:
- BMW Group enters multi-year agreement to use BlackBerry QNX® technology to develop SAE Level 2/2+ driving automation functions in multiple makes and models across the BMW group.
- Google and Qualcomm join forces with BlackBerry QNX to reduce developer friction and time to market when virtualizing Android Automotive OS alongside safety critical applications on the QNX® Hypervisor.
- Mahindra and Mahindra, the third largest automaker in India, selects the QNX Real Time Operating System (RTOS) and Hypervisor to power the cockpit domain controller for their next-generation SUV.
- BlackBerry IVY™ early access version is released in October 2021, in line with product roadmap.
- Zuora, a leading provider of software that enables companies to harness subscription revenue from online applications, joins the BlackBerry IVY advisory council.
Cybersecurity:
- Exabeam, the leading next-gen SIEM provider, partners with BlackBerry to greatly expand access to telemetry data from 100's of network devices as part of its enhanced BlackBerry® Guard managed extended detection and response (XDR) service.
- Okta and BlackBerry announce a comprehensive partnership to deliver both seamless identity and access capabilities while using BlackBerry UEM® endpoint management, as well as integrating Okta's telemetry data into BlackBerry's XDR platform.
- Mimecast, Stellar Cyber and XM Cyber, also join the expanding BlackBerry XDR ecosystem.
- BlackBerry Guard 2.0 managed services offering (MDR) expands to provide customers with 24/7 management of BlackBerry® Protect Mobile, BlackBerry® Gateway and BlackBerry® Persona.
- BlackBerry's leading prevention-first cybersecurity technology prevents high-profile malware and ransomware including DanaBot, Raccoon Infostealer, SquirrelWaffle, Jennlog Loader, and more.
- SE Labs, a leader in independent cybersecurity research, ranks BlackBerry as the best new endpoint security offering of 2021.
Fire this BoD... putting a device guy at the helm is assinine, vote this BoD out come June!
Like putting an arsonist in charge of the fire deparment 
Richard Lynch Mr. Lynch is Chair of the Board of Directors and Interim Chief Executive Officer of BlackBerry. He has served as a director of the Company since February 2013. He has bachelor’s and master’s degrees in Electrical Engineering from Lowell Technological Institute (now University of Massachusetts) and post-graduate executive education from the Wharton School at the University of Pennsylvania and the Johnson School of Management at Cornell University. Mr. Lynch is President of FB Associates, LLC, which provides advisory and consulting services at the intersection of technology, marketing and business operations. Prior to his current role, Mr. Lynch served as Executive Vice-President & Chief Technology Officer for Verizon Communications and Verizon Wireless. He is a Life Fellow of The Institute of Electrical and Electronic Engineers. Mr. Lynch previously served as Chairman of Ribbon Communications and as a director of Ruckus Wireless. He has also served on a number of professional organizations including the GSM Association, the CDMA Development Group, the Federal Communications Commission Technical Advisory Committee and the Communications Security Reliability and Interoperability Council. Mr. Lynch has been honored with the President's Award by the Cellular Telecommunications and Internet Association and has also been inducted into the Wireless History Foundation's Hall of Fame.