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BlackBerry Limited (BB+0.48%) has submitted its 10-K filing for the fiscal year ended February 28, 2025.
The filing reports total revenue of $534.9 million, a decrease from $759.1 million in the previous year. The decline in revenue is attributed to a decrease in Licensing revenue, primarily due to a one-time patent sale in the prior year.
Secure Communications revenue decreased by $11.2 million to $272.6 million, primarily due to a decrease in BlackBerry UEM product revenue.
QNX revenue increased by $20.6 million to $236.0 million, driven by an increase in BlackBerry QNX royalty revenue.
Licensing revenue decreased by $233.6 million to $26.3 million, largely due to a one-time patent sale in the previous year.
Operating expenses decreased by $85.6 million to $394.1 million, reflecting reductions in salaries and benefits, goodwill impairment, and restructuring costs.
The company reported a net loss of $79.0 million, compared to a net loss of $130.2 million in the previous year. The decrease in net loss is primarily due to reduced operating expenses and improved gross margin percentage.
Adjusted EBITDA from continuing operations was $84.2 million, exceeding the company's expectations due to better-than-expected performance in all segments.
The company completed the sale of its Cylance endpoint security assets to Arctic Wolf for $160.0 million in cash and shares, resulting in a gain from disposal of $10.2 million.
Cash, cash equivalents, and investments increased to $410.3 million, up from $298.2 million, primarily due to the proceeds from the Cylance sale and positive cash flow from operations.
The company anticipates total revenue for fiscal 2026 to be in the range of $504 million to $534 million, with adjusted EBITDA expected to be between $69 million and $84 million.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the BlackBerry Limited annual 10-K report dated April 2, 2025. To report an error, please email earnings@qz.com.