BlackBerry Limited reported financial results for the three months and the twelve months ended February 29, 2020 (all figures in U.S. dollars and U.S. GAAP, except where otherwise indicated).
Total company non-GAAP revenue for the fourth quarter of fiscal 2020 was $291 million, up 13% year-over-year.
Total company GAAP revenue for the fourth quarter of fiscal 2020 was $282 million, up 11% year-over-year.
Total non-GAAP software and services revenue of $287 million, up 16% year-over-year.
Total GAAP software and services revenue was $278 million, up 13% year-over-year.
Fourth quarter recurring non-GAAP software and services revenue (excluding IP licensing and professional services) was over 90%.
Non-GAAP gross margin was 77% and GAAP gross margin was 75%.
Non-GAAP operating earnings was $51 million.
GAAP operating loss was $41 million.
Non-GAAP earnings per share was $0.09 (basic and diluted).
GAAP net loss per share was $0.07 (basic and diluted).
GAAP net loss includes $35 million for acquired intangibles amortization expense, $27 million in goodwill and long-term asset impairment charges, $17 million in stock compensation expense, a charge of $5 million related to the fair value adjustment on the debentures, and other amounts as summarized in the table below.
Total cash, cash equivalents, short-term and long-term investments was $990 million as of February 29, 2020.
Net cash provided by operating activities of $35 million and capital expenditures of $3 million resulted in free cash flow generated of $32 million.
Fiscal year 2020
- Total company non-GAAP revenue of $1,099 million, or 20% growth year-over-year; total company GAAP revenue of $1,040 million, or 15% growth year-over-year.
- Total non-GAAP Software and Services revenue of $1,078 million, or 26% growth year-over-year; total GAAP Software and Service revenue of $1,019 million, or 21% growth year-over-year.
- Fiscal year 2020 total Software and Services billings grew by a double-digit percentage year-over-year.
- Fiscal year 2020 non-GAAP earnings per basic and diluted share of $0.13, above the $0.08 provided in the financial outlook for fiscal year 2020.
Fiscal year 2020 GAAP loss per basic share of $0.27 and GAAP loss per diluted share of $0.32.
- Net cash provided by operating activities of $26 million and capital expenditures of $12 million resulted in free cash flow generated of $14 million. ■