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BlackBerry Q1 revenue slightly down

Christian Fernsby |
BlackBerry reported financial results for the three months ended May 31, 2020 (all figures in U.S. dollars and U.S. GAAP, except where otherwise indicated).

Topics: BLACKBERRY   

Total company non-GAAP revenue for the first quarter of fiscal 2021 was $214 million versus $267 million last year. Total company GAAP revenue for the first quarter of fiscal 2021 was $206 million versus $247 million last year.

Recurring non-GAAP software product revenue was over 90%.

Non-GAAP gross margin was 71% versus 75% last year and GAAP gross margin was 69% versus 72% last year.

Non-GAAP operating earnings were $3 million versus non-GAAP operating earnings of $5 million last year. GAAP operating loss was $645 million versus GAAP operating loss of $36 million last year.

Non-GAAP earnings per share was $0.02 (basic and diluted) versus non-GAAP earnings per share of $0.01 (basic and diluted) last year. GAAP net loss per share was $1.14 (basic and diluted) versus GAAP net loss per share of $0.06 (basic) and $0.09 (diluted) last year.

First quarter fiscal 2021 GAAP net loss includes $594 million in a non-cash, one-time goodwill impairment charge primarily related to the impairment of the BlackBerry SparkĀ®reporting unit, $33 million for acquired intangibles amortization expense, $14 million in stock compensation expense, a charge of $1 million related to the fair value adjustment on the debentures, and other amounts as summarized in the table below.

At May 31, 2020, total cash, cash equivalents, short-term and long-term investments were $955 million. Net cash used by operating activities of $31 million and capital expenditures of $1 million. ā– 


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