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BlackBerry Q2 2019 GAAP net loss $0.04 per diluted share

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Staff Writer | September 29, 2018
BlackBerry Limited reported financial results for the three months ended August 31, 2018 (all figures in U.S. dollars and U.S. GAAP).
BlackBerry   Total non-GAAP software and services revenue were $197 million
Total company non-GAAP revenue for the second quarter of fiscal 2019 was $214 million with GAAP revenue of $210 million.

Total non-GAAP software and services revenue of $197 million, up 1% year-over-year. Total GAAP software and services revenue was $193 million, up 4% year-over-year.

Approximately 81% of second quarter software and services revenue (excluding IP licensing and professional services) was recurring. Non-GAAP gross margin was 78% and GAAP gross margin was 77%.

Non-GAAP operating income was $17 million, and positive for the tenth consecutive quarter. GAAP operating income was $39 million. Non-GAAP earnings per share was $0.04 (basic and diluted).

GAAP net income for the quarter was $0.08 per basic share and a GAAP net loss of $0.04 per diluted share. GAAP net income includes $22 million for acquired intangibles amortization expense, $21 million in stock compensation expense, $3 million in restructuring charges, a benefit of $70 million related to the fair value adjustment on the debentures, and other amounts.

Total cash, cash equivalents, short-term and long-term investments was $2.4 billion as of August 31, 2018. Free cash flow, before considering the impact of restructuring and legal proceedings, was positive $37 million.

Cash generated from operations was $31 million and capital expenditures were $4 million. Excluding $605 million in the face value of the company's debt, the net cash balance at the end of the quarter was $1.7 billion.