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- **Revenue Records**: QNX ($68.7M, +10% YoY) and Secure Communications ($67M) beat expectations, driving total revenue to $141.8M.
- **Profitability Breakthrough**: 20% EBITDA margin, third straight quarter of GAAP net income, and $17.9M operating cash flow (200% YoY growth).
- **Strategic Wins**: 275M vehicles powered by QNX, luxury EV design win in China, and FedRAMP High-enabled U.S. government expansions.
- **Future Growth**: Vehicle software platform targeting higher pricing, GEM expansion investments, and Canadian government defense opportunities.
- **Cash Strength**: $377.5M cash balance, $80M+ Q4 cash generation (including $38M Cylance proceeds), and $8.8M shares repurchased FYTD.

**【CEO Summary Section】**
- **Record Revenue Growth**: Total revenue of $141.8 million exceeded high-end guidance, with QNX delivering a record $68.7 million (10% YoY growth) and Secure Communications hitting $67 million.
- **Profitability Milestones**: Adjusted EBITDA of $28.7 million (20% margin), GAAP net income of $13.7 million (up $24.2 million YoY), and third consecutive quarter of GAAP profitability.
- **QNX Momentum**: 275 million vehicles powered by QNX, design wins with European/Asian OEMs for ADAS/cockpit on SDP8, and new wins for QNX Sound and Cabin in luxury EVs.
- **Secure Communications Strength**: 92% DBNRR, FedRAMP High certification enabling U.S. government expansions, and multi-year renewals with Dutch government and UK Ministry of Defense.

**【CFO Financial Commentary】**
- **Gross Margins and Cash Flow**: 78% adjusted gross margin, operating cash flow of $17.9 million (200% YoY), and free cash flow of $17 million.
- **Investment and Buyback**: $8.8 million shares repurchased FYTD, and $5 million Q3 buyback at $4.13 average price.
- **Updated Guidance**: FY2026 revenue raised to $531-$541 million (midpoint +$6M), adjusted EBITDA to $94-$104 million (+$7.5M midpoint), and Q4 revenue of $138-$148 million.

**【Q&A Highlights】**
- **GEM Investment Strategy**: Focus on go-to-market expansion, partnerships, and certifications like BSI for UEM to drive cost savings and safety in China.
- **Vehicle Software Platform**: Co-developed with Vector targeting higher ASPs, with early access version set for Q1 release and discussions with top OEMs.
- **Government Shutdown Resilience**: Secure Communications navigated U.S. shutdown with strong renewals, and QNX royalty-driven model mitigated impact.
- **Robotics and Medical Innovation**: SDP8 adoption in industrial automation (e.g., Bently Nevada, European OEMs) and NASA's aerospace projects.
- **Canadian Expansion**: Multi-year UEM agreement with Canadian government, and active discussions to expand SecuSmart and AtHoc usage in defense.

BlackBerry Ltd (BB) Q3 2026 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

BB

BB fundamentals

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