Fri, Sep 27, 8:36 PM (85 days ago)
BlackBerry Limited reported its Q2 fiscal 2025 results ending August 31, 2024, showcasing a revenue increase to $145 million from $132 million year-over-year. The gross margin improved to $94 million, reflecting a 64.8% margin percentage. Operating expenses decreased to $115 million from $132 million due to cost-reduction efforts, resulting in a reduced net loss of $19 million compared to $42 million in the prior year. Adjusted net loss was $2 million, indicating significant operational improvements. The company's cash and investments totaled $265 million, down from $298 million at the previous quarter's end. Current assets decreased primarily due to lower accounts receivable and short-term investments. BlackBerry's restructuring initiatives are yielding results, with a $130 million reduction in operating expenses since the separation of its Cybersecurity and IoT divisions. Looking ahead, BlackBerry anticipates revenue growth driven by strong performance in its Cybersecurity and IoT segments, while also managing uncertainties related to customer concentration and market conditions. The company continues to focus on enhancing operational efficiency and profitability.