On April 6, it was reported that BlackBerry’s revenue in the fourth quarter of fiscal year 2024 was $173 million, exceeding analysts’ expectations of $154.20 million.
BlackBerry reported a GAAP net loss of $56 million, while the expected loss was $17.502 million; the revenue of the IoT department in the fourth quarter was $66 million, a year-on-year increase of 25% and a month-on-month increase of 20%. The gross margin remained at a strong level of 85%, and the QNX patent fee backlog was $815 million. The quarterly revenue of the network security department exceeded expectations, reaching $92 million, a year-on-year increase of 5%; the annual recurring revenue increased by 3% month-on-month, reaching $280 million. Licensing revenue reached $15 million, while operating expenses decreased to $113 million.
BlackBerry expects revenue in the first quarter of this year to be between $130 million and $138 million; it is expected that the revenue from the Internet of Things in the first quarter will be between $48 million and $52 million; BlackBerry expects the total revenue in fiscal year 2025 to be between $586 – $616 million, and the adjusted EBITDA will be break-even to more than $10 million.
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