September 30, 2024 (Globalinvestorideas.com Newswire) Globalinvestorideas.com, a go-to platform for big investing ideas, including tech stocks reports on trading and news for / BlackBerry Limited (NYSE:BB)(TSX:BB), a leader in intelligent security software and services for enterprises and governments around the world.
BlackBerry leads the TSX in volume as of this report, currently trading at $3.5300, up 0.1600. gaining 4.75% on volume of over 3.3 Million shares. The stock has a day’s high of $3.55.
BlackBerry recently reported financial results for the three months ended August 31, 2024 (all figures in U.S. dollars and U.S. GAAP, except where otherwise indicated).
“BlackBerry reached a significant milestone on our path to profitability by recording breakeven adjusted EBITDA and non-GAAP EPS. This result was achieved through a combination of stronger than expected, double-digit revenue growth for both IoT and Cybersecurity, as well as tremendous ongoing progress in rationalizing our cost structure. Operating expenses for the quarter were 24% lower than the baseline for the prior year,” said John J. Giamatteo, CEO, BlackBerry. “QNX delivered strong royalty revenue again this quarter, and there was year-over-year revenue growth for the secure communications products in our Cybersecurity division.”
Second Quarter Fiscal 2025 Financial Highlights
Total company revenue was $145 million.
Total company non-GAAP gross margin was 66% and GAAP gross margin was 65%.
IoT revenue grew 12% year-over-year and exceeded previously-provided guidance at $55 million; IoT gross margin increased by 1 percentage point to 82%.
Cybersecurity revenue grew 10% year-over-year and exceeded previously-provided guidance at $87 million; Cybersecurity gross margin increased by 1 percentage point year-over-year to 55%.
Cybersecurity ARR was flat year-over-year at $279 million; DBNRR increased by 7 percentage points year-over-year and sequentially for the fourth consecutive quarter to 88%.
Licensing revenue was $3 million.
Non-GAAP operating loss was $4 million and GAAP operating loss was $21 million.
Non-GAAP earnings per share improved by $0.04 year-over-year to breakeven, beating the previously-provided guidance. GAAP basic loss per share also improved by $0.04 year-over-year to $0.03.
Adjusted EBITDA improved by $22 million to breakeven for the quarter.
Total cash, cash equivalents, short-term and long-term investments was $265 million; Operating cash usage beat expectations and improved by $43 million year-over-year to $13 million.
Recent news
https://ca.finance.yahoo.com/news/blackberry-reports-second-quarter-fiscal-210500369.html
Research more tech stocks with Investorideas.com free stock directory
https://www.investorideas.com/TSS/Stock_List.asp
Disclaimer
Global Investor Ideas is part of the Investorideas.com content umbrella and is owned by Econ Corporate Services Inc. For Investorideas disclosure and disclaimer please visit the site directly
Disclaimer/Disclosure: GlobalInvestorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by GlobalInvestorideas and investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. If we are not the source for content but just a publisher , please contact the source of all content for questions and info. We are not responsible for third party content.