BlackBerry today announced their fiscal year 2019 Q4 results highlighting record Software and Services revenue, while also noting that BlackBerry is now a $1 billion-plus revenue company in security software.

Fiscal Year 2019

  • Record high fiscal year 2019 total non-GAAP Software and Services revenue of $857 million and total GAAP Software and Services revenue of $845 million
  • Fiscal year 2019 total non-GAAP Software and Services revenue growth of 10% year-over-year, at the high-end of the previously provided outlook of 8% to 10%
  • Fiscal year 2019 total GAAP Software and Services revenue growth of 13% year-over-year
  • Fiscal year 2019 total Software and Services billings grew double-digits year-over-year
  • Fiscal year 2019 non-GAAP earnings per basic and diluted share of $0.24 versus $0.14 in fiscal year 2018
  • Fiscal year 2019 GAAP earnings per basic share of $0.17 and GAAP earnings per diluted share of $0.00
  • Total cash, cash equivalents, short-term and long-term investments was $1.0 billion as of February 28, 2019
  • Fiscal year 2019 free cash flow generated of $83 million, as reported

"We delivered on all of our fiscal 2019 financial commitments and created a solid foundation for continued profitable revenue growth in fiscal 2020," said John Chen, Executive Chairman and CEO, BlackBerry. "I am pleased to note that BlackBerry is recognized as a $1 billion plus revenue company in security software. The combination of BlackBerry Cylance's lightweight AI and machine learning cybersecurity capabilities with BlackBerry Spark, our secure communications platform, will make our endpoint management and embedded software products stronger and more essential for enterprises to generate value from the Internet of Things."

If you're looking for the full table breakdowns, they can be found on the BlackBerry Investors website in addition to the supplemental financial information as well as the conference call transcript once it has been uploaded.

BlackBerry Reports Record Software and Services Revenue in Fourth Quarter and Fiscal Year 2019

Fiscal Year 2019

  • Record high fiscal year 2019 total non-GAAP Software and Services revenue of $857 million and total GAAP Software and Services revenue of $845 million
  • Fiscal year 2019 total non-GAAP Software and Services revenue growth of 10% year-over-year, at the high-end of the previously provided outlook of 8% to 10%
  • Fiscal year 2019 total GAAP Software and Services revenue growth of 13% year-over-year
  • Fiscal year 2019 total Software and Services billings grew double-digits year-over-year
  • Fiscal year 2019 non-GAAP earnings per basic and diluted share of $0.24 versus $0.14 in fiscal year 2018
  • Fiscal year 2019 GAAP earnings per basic share of $0.17 and GAAP earnings per diluted share of $0.00
  • Total cash, cash equivalents, short-term and long-term investments was $1.0 billion as of February 28, 2019
  • Fiscal year 2019 free cash flow generated of $83 million, as reported

Fourth Quarter Fiscal 2019

  • Fourth quarter fiscal 2019 total company non-GAAP revenue of $257 million, or 8% growth year-over-year; total company GAAP revenue of $255 million, or 9% growth year-over-year
  • Record high fourth quarter fiscal 2019 total non-GAAP Software and Services revenue of $248 million; total GAAP Software and Services revenue of $246 million
  • Fourth quarter fiscal 2019 total non-GAAP Software and Services revenue growth of 14% year-over-year; fourth quarter fiscal 2019 total GAAP Software and Services revenue growth of 16% year-over-year
  • Fourth quarter fiscal 2019 Non-GAAP earnings per basic and diluted share of $0.11; GAAP earnings per basic share of $0.09 and GAAP earnings per diluted share of $0.08
  • Fourth quarter fiscal 2019 free cash flow of $20 million, before considering the impact of acquisition and integration expenses, restructuring costs and legal proceedings; free cash flow of $18 million, as reported

WATERLOO, Ontario, March 29, 2019 /PRNewswire/ -- BlackBerry Limited (NYSE: BB; TSX: BB) today reported financial results for the three months and the twelve months ended February 28, 2019 (all figures in U.S. dollars and U.S. GAAP, except where otherwise indicated).

Fourth Quarter Fiscal 2019 Results

  • Total company non-GAAP revenue for the fourth quarter of fiscal 2019 was $257 million, up 8% year-over-year. Total company GAAP revenue for the fourth quarter of fiscal 2019 was $255 million, up 9% year-over-year. Total non-GAAP Software and Services revenue of $248 million, up 14% year-over-year. Total GAAP Software and Services revenue was $246 million, up 16% year-over-year. Approximately 93% of fourth quarter non-GAAP Software and Services revenue (excluding IP licensing and professional services) was recurring after including perpetual licenses that are now recognized ratably. Non-GAAP gross margin was 82% and GAAP gross margin was 81%.

  • Non-GAAP operating income was $58 million, and positive for the twelfth consecutive quarter. GAAP operating income was $28 million. Non-GAAP earnings per share was $0.11 (basic and diluted). GAAP net earnings was $0.09 per basic share and a GAAP net earnings of $0.08 per diluted share. GAAP net income includes $18 million for acquired intangibles amortization expense, $14 million in stock compensation expense, $8 million in acquisition and integration charges, a benefit of $6 million related to the fair value adjustment on the debentures, and other amounts as summarized in a table below.

  • Total cash, cash equivalents, short-term and long-term investments was $1.0 billion as of February 28, 2019. Free cash flow, before considering the impact of acquisition and integration expenses, restructuring costs and legal proceedings, was positive $20 million. Cash generated from operations was $21 million and capital expenditures were $3 million. Excluding $605 million in the face value of the company's debt, the net cash balance at the end of the quarter was $400 million.

"We delivered on all of our fiscal 2019 financial commitments and created a solid foundation for continued profitable revenue growth in fiscal 2020," said John Chen, Executive Chairman and CEO, BlackBerry. "I am pleased to note that BlackBerry is recognized as a $1 billion plus revenue company in security software. The combination of BlackBerry Cylance's lightweight AI and machine learning cybersecurity capabilities with BlackBerry Spark, our secure communications platform, will make our endpoint management and embedded software products stronger and more essential for enterprises to generate value from the Internet of Things."

Outlook

BlackBerry will provide fiscal year 2020 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.

Conference Call and Webcast

A conference call and live webcast will be held today beginning at 8 a.m. ET, which can be accessed by dialing 1-877-682-6267 or by logging on at http://ca.blackberry.com/company/investors/events.html. A replay of the conference call will also be available at approximately 11 a.m. ET by dialing 1-800-585-8367 and entering Conference ID #8519329 and at the link above.

About BlackBerry

BlackBerry enables the Enterprise of Things by providing the technology that allows endpoints to trust one another, communicate securely, and maintain privacy. Based in Waterloo, Ontario, BlackBerry was founded in 1984 and operates globally. The Company trades under the ticker symbol "BB" on the Toronto Stock Exchange and the New York Stock Exchange. For more information visit BlackBerry.com, and follow the company on LinkedIn, Twitter and Facebook.