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BlackBerry | 10-K: Annual report

SEC announcement ·  Apr 4 17:36
Summary by Moomoo AI
BlackBerry Limited reported a net loss of $130 million for the fiscal year ended February 29, 2024, a significant improvement from the previous year's net loss of $734 million. The company's revenue increased to $853 million, up from $656 million in the prior year, driven by gains in the IoT segment and a substantial increase in Licensing and Other revenue, primarily due to the Malikie Transaction. Gross margin also rose to $520 million, reflecting a higher contribution from Licensing and Other and Secusmart software licenses. Operating expenses decreased by $499 million, largely due to lower impairment charges. BlackBerry's adjusted net income was $31 million, a notable turnaround from the adjusted net loss of $103 million in the previous year. The company's cash, cash equivalents, and investments...Show More
BlackBerry Limited reported a net loss of $130 million for the fiscal year ended February 29, 2024, a significant improvement from the previous year's net loss of $734 million. The company's revenue increased to $853 million, up from $656 million in the prior year, driven by gains in the IoT segment and a substantial increase in Licensing and Other revenue, primarily due to the Malikie Transaction. Gross margin also rose to $520 million, reflecting a higher contribution from Licensing and Other and Secusmart software licenses. Operating expenses decreased by $499 million, largely due to lower impairment charges. BlackBerry's adjusted net income was $31 million, a notable turnaround from the adjusted net loss of $103 million in the previous year. The company's cash, cash equivalents, and investments totaled $298 million at the end of the fiscal year. BlackBerry continues to focus on its cybersecurity and IoT businesses, with significant achievements in product innovation and strategic partnerships. The company's future plans include enhancing operational focus, driving profitability, and optimizing shareholder value through the full separation of its principal business units.

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