BlackBerry revenue drops significantly to $184 million

BlackBerry has reported revenue of $184 million as compared with $218 million a year earlier — helped by sustained demand for its cybersecurity and Internet of Things products – in the third quarter of fiscal 2022.
BlackBerry
BlackBerry generated IoT revenue of $43 million, with gross margin of 81 percent and ARR of $91 million.

BlackBerry generated Cybersecurity revenue of $128 million, with gross margin of 59 percent and ARR of $358 million. BlackBerry forecasts cybersecurity revenue of between $125 million and $135 million in the fourth quarter.

Demand for cybersecurity software has been robust as more businesses and government organizations migrate to cloud-based solutions to support remote work during the COVID-19 pandemic.

Licensing and Other revenue for the third quarter of fiscal 2022 was $13 million. Gross margin was 54 percent.

BlackBerry Chief Executive Officer John Chen said BlackBerry expects automotive supply chain issues to ease in the fourth quarter and boost demand for its QNX car software, used by automakers including Volkswagen, BMW and Ford Motor (F.N).

BlackBerry reported a net profit of $74 million in the third quarter, compared with a loss of $130 million a year earlier.

Business Highlights & Strategic Announcements

IoT:

BMW Group enters multi-year agreement to use BlackBerry QNX technology to develop SAE Level 2/2+ driving automation functions in multiple makes and models across the BMW group.

Google and Qualcomm join forces with BlackBerry QNX to reduce developer friction and time to market when virtualizing Android Automotive OS alongside safety critical applications on the QNX Hypervisor.

Mahindra and Mahindra, the third largest automaker in India, selects the QNX Real Time Operating System (RTOS) and Hypervisor to power the cockpit domain controller for their next-generation SUV.

BlackBerry IVY  early access version is released in October 2021, in line with product roadmap.

Zuora, a leading provider of software that enables companies to harness subscription revenue from online applications, joins the BlackBerry IVY advisory council.

Cybersecurity:

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) service.

Okta and BlackBerry announce 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 platform.

Mimecast, Stellar Cyber and XM Cyber, also join the expanding BlackBerry XDR ecosystem.

BlackBerry Guard 2.0 managed services offering (MDR) expands to provide customers with 24/7 management of BlackBerry Protect Mobile, BlackBerry Gateway and BlackBerry Persona.

BlackBerry’s leading prevention-first cybersecurity technology prevents high-profile malware and ransomware including DanaBot, Raccoon Infostealer, SquirrelWaffle, Jennlog Loader, and more.

SE Labs, a leader in independent cybersecurity research, ranks BlackBerry as the best new endpoint security offering of 2021.

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