Q4 Fiscal 2017
Blackberry fans and investors rejoice!
Blackberry announced their earnings this morning and they beat expectations. Here some of the highlights:
- Q4 Highlights
- Q4 non-GAAP total revenue of $297 million; GAAP total revenue of $286 million
- Q4 non-GAAP Company total software and services revenues of $193 million; GAAP Company total software and services revenues of $182 million
- Q4 non-GAAP gross margin of 65%; GAAP gross margin of 60%
- Q4 adjusted EBITDA of $42 million; positive for thirteenth consecutive quarter
- Q4 cash flow from operations of $19 million; free cash flow of $16 million
- Total cash balance increased by $89 million to $1.7 billion at the end of the fiscal fourth quarter
- Entered into a long-term, software licensing agreement with Optiemus Infracom Ltd to design, manufacture, sell and support BlackBerry-branded mobile devices in India, Sri Lanka, Nepal and Bangladesh
- At International CES 2017, announced the most advanced and secure embedded software platform for autonomous drive and connected cars
- At Mobile World Congress, TCL launched the BlackBerry KEYone, the most secure Android phone in the world featuring a smart QWERTY keyboard; the KEYone is the first device launched under the Company’s licensing agreement with TCL
- Entered the Communications Platform as a Service (CPaaS) market with the launch of the BBM Enterprise SDK that will enable developers to integrate secure messaging, voice and video capabilities into applications and services
- After the quarter close, BB Merah Putih launched the BlackBerry Aurora, the first device launched under the Company’s licensing agreement with BB Merah Putih
- After the quarter close, BlackBerry’s AtHoc services achieved U.S. government FedRAMP and Agency/Component Authority to Operate (ATO) certifications
John Chen says the following about earnings.
“I am pleased to report that our Q4 results came in at or above expectations in all major metrics,” said John Chen, Executive Chairman and CEO, BlackBerry. “In the quarter, we continued to grow our mix of software and services revenue across the company. In turn, this allowed us to expand our operating margin and report positive free cash flow. In addition, our balance sheet continues to strengthen and benefit from reduced capital requirements with our focus on software and licensing.”
Go to the full press release HERE.