Press Release: BlackBerry Reports Third Quarter Fiscal Year 2022 Results

Delivers sequential billings and revenue growth, beating revenue expectations for both IoT and Cybersecurity business units

Press Release:


  • Total company revenue of $184
  • IoT revenue of $43
  • Cybersecurity revenue of $128
  • Licensing & Other revenue of $13
  • Non-GAAP breakeven earnings per basic and diluted share; Basic GAAP profit per share of $0.13 and diluted GAAP loss per share of $0.05.

Waterloo, Ontario BlackBerry Limited (NYSE: BB; TSX: BB) today reported financial results for the three months ended November 30, 2021 (all figures in U.S. dollars and U.S. GAAP, except where otherwise indicated).

“This quarter BlackBerry delivered solid sequential billings and revenue growth for both the IoT and Cybersecurity businesses, beating expectations for the second consecutive quarter. We also beat expectations on earnings, despite the ongoing investment to drive future top line growth,” said John Chen, Executive Chairman & CEO, BlackBerry. “In IoT our QNX business achieved a quarterly record for design-related revenues, performing stronger than expected despite ongoing industry supply chain headwinds. On the Cybersecurity front we saw further traction for our recent unified endpoint security product launches with additional head-to-head wins against other next-gen players. I am excited about how the current organization is executing to take advantage of the market opportunities.”

Third Quarter Fiscal 2022 Financial Highlights

  • Total company revenue for the third quarter of fiscal 2022 was $184
  • Total company non-GAAP and GAAP gross margin was 64%.
  • IoT revenue for the third quarter of fiscal 2022 was $43 million, with a gross margin of 81% and ARR of $91 million.
  • Cybersecurity revenue for the third quarter of fiscal 2022 was $128 million, with gross margin of 59% and ARR of $358
  • Licensing and Other revenue for the third quarter of fiscal 2022 was $13 million, beating Gross margin was 54%.
  • Non-GAAP operating loss was $24 million. GAAP operating profit was $51
  • Non-GAAP breakeven earnings per share (basic and diluted). Basic GAAP profit per share was $0.13 and diluted GAAP loss per share was $0.05.
  • Total cash, cash equivalents, short-term and long-term investments were $772
  • Total net cash position was $407
  • Net cash used by operating activities was $19


Business Highlights & Strategic Announcements



  • Exabeam, the leading next-gen SIEM provider, partners with BlackBerry to greatly expand access to telemetry data from 100’s of network devices as part of its enhanced BlackBerry® Guard managed extended detection and response (XDR)
  • Okta and BlackBerry announced a comprehensive partnership to deliver both seamless identity and access capabilities while using BlackBerry UEM® endpoint management, as well as integrating Okta’s telemetry data into BlackBerry’s XDR
  • Mimecast, Stellar Cyber and XM Cyber, also join the expanding BlackBerry XDR
  • BlackBerry Guard 2.0 managed services offering (MDR) expands to provide customers with 24/7 management of BlackBerry® Protect Mobile, BlackBerry® Gateway and BlackBerry®
  • BlackBerry’s leading prevention-first cybersecurity technology prevents high-profile malware and ransomware including DanaBot, Raccoon Infostealer, SquirrelWaffle, Jennlog Loader, and
  • SE Labs, a leader in independent cybersecurity research, ranks BlackBerry as the best new endpoint security offering of


BlackBerry will provide a fourth fiscal quarter 2022 outlook in connection with the quarterly earnings announcement on its earnings conference call. The earnings call transcript will be made available on our website and on SEDAR.

Use of Non-GAAP Financial Measures

The tables at the end of this press release include a reconciliation of the non-GAAP financial measures used by the company to comparable U.S. GAAP measures and an explanation of why the company uses them

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Written by Shahzoor Ali


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