BlackBerry’s Q1 2021 Revenue Down 17%, Company’s CEO Assures Investors Recovery Is in Sight

Blackberry phone on wooden table

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The Canadian multinational company, formerly known as Research In Motion, announced its total GAAP revenue for its first quarter of fiscal 2021. The amount: $206 million, or а 17% decline year-over-year than the $247 million the company had generated for the same period last year.

Here are some other notable highlights from BlackBerry’s earnings report:


– Recurring non-GAAP software product revenue was over 90%

– GAAP gross margin was 69%—a 3% increase compared to the 72% from last year

– GAAP net loss per share was $1.14 (basic and diluted) versus GAAP net loss per share of $0.06 (basic) and $0.09 (diluted) last year

– At May 31, 2020, total cash, cash equivalents, short-term and long-term investments totalled at $955 million

– Net cash used by operating activities was $31 million and capital expenditures were $1 million 

– GAAP operating loss was $645 million versus GAAP operating loss of $36 million last year 


According to the report, BlackBerry’s first-quarter fiscal 2021 GAAP net loss includes $594 million in a non-cash, one-time goodwill impairment charge primarily related to the impairment of the BlackBerry Spark reporting unit, as well as:


– $33 million for acquired intangibles amortisation expense

– $14 million in stock compensation expense

– Charge of $1 million related to the fair value adjustment on the debentures

– Other amounts 


“[The] BlackBerry QNX [real-time operating system] was impacted by macro headwinds in the auto and other embedded sectors, but we are starting to see signs of recovery. On the enterprise front, we saw good demand from customers who recognized the necessity for BlackBerry’s security, business continuity, and productivity solutions in an increasingly remote working environment.”

John Chen, Executive Chairman and CEO of BlackBerry


So far, BlackBerry has abstained from making a financial forecast for its fiscal year, citing the uncertain economic conditions created by COVID-19.

Upcoming reports

See the full list of upcoming earnings reports for 29 June – 2 July in the tables below.

Monday, 29 June 2020

Country of originCompany nameFiscal period
USAMicron Technology IncThird quarter of 2020
NetherlandsProsus NVFourth quarter of 2019
United KingdomCarnival PlcSecond quarter of 2020
USACarnival CorpSecond quarter of 2020
United KingdomMitchells & Butlers PlcHalf year 2020

Tuesday, 30 June 2020

Country of originCompany nameFiscal period
USAFedEx CorpFourth quarter of 2020
United KingdomEasyjet PlcHalf year 2020

Wednesday, 1 July 2020

Country of originCompany nameFiscal period
USAGeneral Mills IncFourth quarter of 2020
USAJefferies Financial Group IncSecond quarter of 2020
USAConstellation Brands IncFirst quarter of 2021

Thursday, 2 July 2020

Country of originCompany nameFiscal period
United KingdomDS Smith PlcFull year 2020


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