Q1 2026 BlackBerry Ltd Earnings Call Transcript
Key Points
- BlackBerry Ltd (BB) exceeded revenue expectations for the quarter, reporting $121.7 million, surpassing the top end of guidance.
- The company achieved a significant year-over-year growth in adjusted EBITDA, increasing by over 55% to $16.4 million.
- Non-GAAP earnings per share were positive at $0.02, beating guidance.
- BlackBerry Ltd (BB) announced a $100 million share buyback program, demonstrating confidence in its financial strategy and shareholder value.
- The QNX division showed strong performance with revenue of $57.5 million, representing 8% year-over-year growth despite challenges in the automotive market.
- The company faces macroeconomic uncertainties, particularly in the automotive sector, which could impact future royalty revenues.
- There were some delays in customer buying decisions due to market uncertainties, affecting the QNX division.
- The licensing division's revenue was slightly below expectations due to lower revenue from existing licensing arrangements.
- Operating expenses faced headwinds from foreign exchange fluctuations, particularly due to a weakening US dollar.
- Cash used by operations was $18 million, reflecting seasonal low cash flow and restructuring costs.
Good afternoon and welcome to the BlackBerry first-quarter fiscal year 2026 results conference call. My name is Julian, and I will be your conference moderator for today's call. (Operator Instructions)
I would now like to turn the call over to Martha Gonder, Director of Investor Relations with BlackBerry. Thank you. You may begin.
Thank you, Julian. Good afternoon, everyone, and welcome to BlackBerry's first-quarter fiscal year 2026 earnings conference call. Joining me on today's call is BlackBerry's Chief Executive Officer, John Giamatteo; and Chief Financial Officer, Tim Foote.
After I read our cautionary note regarding forward-looking statements, John will provide a business update, and Tim will review the financial results. We will then open the call for a brief Q&A session. This call is available to the general public via call-in numbers and via webcast in the Investor Information section at blackberry.com. A replay will also be available on the blackberry.com website.
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