BlackBerry Q1 revenue slightly downChristian Fernsby ▼ | June 25, 2020
BlackBerry reported financial results for the three months ended May 31, 2020 (all figures in U.S. dollars and U.S. GAAP, except where otherwise indicated).
BlackBerry Total company GAAP revenue for the first quarter of fiscal 2021 was $206 million
Recurring non-GAAP software product revenue was over 90%.
Non-GAAP gross margin was 71% versus 75% last year and GAAP gross margin was 69% versus 72% last year.
Non-GAAP operating earnings were $3 million versus non-GAAP operating earnings of $5 million last year. GAAP operating loss was $645 million versus GAAP operating loss of $36 million last year.
Non-GAAP earnings per share was $0.02 (basic and diluted) versus non-GAAP earnings per share of $0.01 (basic and diluted) 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.
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, $33 million for acquired intangibles amortization expense, $14 million in stock compensation expense, a charge of $1 million related to the fair value adjustment on the debentures, and other amounts as summarized in the table below.
At May 31, 2020, total cash, cash equivalents, short-term and long-term investments were $955 million. Net cash used by operating activities of $31 million and capital expenditures of $1 million. ■