- Total company non-GAAP revenue of $280 million, or 23% growth year-over-year; total
company GAAP revenue of $267 million,
or 18% growth year-over-year
- Total non-GAAP Software and Services revenue of
$275 million, or 26% growth
year-over-year; total GAAP Software and Services revenue of
$262 million, or 21% growth
year-over-year; both are record quarterly highs
- Total company non-GAAP earnings per basic and diluted share
of $0.03; GAAP loss per basic share
of $0.06 and GAAP loss per diluted
share of $0.07
- Total company free cash flow generated of $37 million, as reported
WATERLOO, Ontario, Dec. 20, 2019 /PRNewswire/ -- BlackBerry Limited
(NYSE: BB; TSX: BB) today reported financial results for the three
months ended November 30, 2019 (all
figures in U.S. dollars and U.S. GAAP, except where otherwise
indicated).
Third Quarter Fiscal 2020 Results
- Total company non-GAAP revenue for the third quarter of fiscal
2020 was $280 million, up 23%
year-over-year. Total company GAAP revenue for the third quarter of
fiscal 2020 was $267 million, up 18%
year-over-year. Total non-GAAP software and services revenue was
$275 million, up 26% year-over-year.
Total GAAP software and services revenue was $262 million, up 21% year-over-year. Third
quarter recurring non-GAAP software and services revenue (excluding
IP licensing and professional services) was over 90%. Non-GAAP
gross margin was 77% and GAAP gross margin was 74%.
- Total company non-GAAP operating earnings was $20 million. Total company GAAP operating loss
was $29 million. Non-GAAP earnings
per share was $0.03 (basic and
diluted). GAAP net loss was $0.06 per
basic share and $0.07 per diluted
share. GAAP net loss includes $35
million for acquired intangibles amortization expense,
$15 million in stock compensation
expense, $10 million in restructuring
charges, a benefit of $20 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 $970 million as of
November 30, 2019. Free cash flow
generated, before considering the impact of acquisition and
integration expenses, restructuring costs and legal proceedings,
was $41 million. Cash generated from
operations was $40 million and
capital expenditures were $3
million.
"BlackBerry achieved sequential growth in revenue across all
of our software businesses while generating healthy non-GAAP
profitability and free cash flow as we continue to invest in our
future," said John Chen, Executive
Chairman and CEO, BlackBerry. "I am pleased with our
progress. Our pipeline is growing as we deliver against our
product roadmap and execute on our go-to-market expansion."
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.
Reconciliation of GAAP revenue, gross margin, gross margin
percentage, income (loss) before income taxes, net income (loss)
and basic earnings (loss) per share to Non-GAAP revenue, gross
margin, gross margin percentage, income before income taxes, net
income and basic earnings per share for the three months ended
November 30, 2019:
Q3 Fiscal 2020
Non-GAAP Adjustments
|
|
For the Three Months
Ended November 30, 2019
|
|
(in millions,
except for per share amounts)
|
|
Income
statement
location
|
|
Revenue
|
|
Gross
margin
(before taxes)
|
|
Gross margin %
(before
taxes)
|
|
Income (loss)
before
income taxes
|
|
Net income
(loss)
|
|
Basic earnings
(loss) per
share
|
As
reported
|
|
|
$
|
267
|
|
|
$
|
198
|
|
|
74.2
|
%
|
|
$
|
(30)
|
|
|
$
|
(32)
|
|
|
$
|
(0.06)
|
|
Debentures fair value
adjustment (2)
|
Debentures fair value
adjustment
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
(20)
|
|
|
(20)
|
|
|
|
Restructuring charges
(3)
|
Cost of
sales
|
|
—
|
|
|
3
|
|
|
1.1
|
%
|
|
3
|
|
|
3
|
|
|
|
Restructuring charges
(3)
|
Selling, marketing
and administration
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
7
|
|
|
7
|
|
|
|
Software deferred
revenue acquired (4)
|
Revenue
|
|
13
|
|
|
13
|
|
|
1.1
|
%
|
|
13
|
|
|
13
|
|
|
|
Software deferred
commission expense acquired (5)
|
Selling, marketing
and administration
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
(4)
|
|
|
(4)
|
|
|
|
Stock compensation
expense (6)
|
Cost of
sales
|
|
—
|
|
|
1
|
|
|
0.4
|
%
|
|
1
|
|
|
1
|
|
|
|
Stock compensation
expense (6)
|
Research and
development
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
4
|
|
|
4
|
|
|
|
Stock compensation
expense (6)
|
Selling, marketing
and administration
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
10
|
|
|
10
|
|
|
|
Acquired intangibles
amortization (7)
|
Amortization
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
35
|
|
|
35
|
|
|
|
Adjusted
|
|
|
$
|
280
|
|
|
$
|
215
|
|
|
76.8
|
%
|
|
$
|
19
|
|
|
$
|
17
|
|
|
$
|
0.03
|
|
Note: Non-GAAP revenue, non-GAAP gross margin, non-GAAP gross
margin percentage, non-GAAP income before income taxes, non-GAAP
net income and non-GAAP basic earnings per share do not have a
standardized meaning prescribed by GAAP and thus are not comparable
to similarly titled measures presented by other issuers. The
Company believes that the presentation of these non-GAAP measures
enables the Company and its shareholders to better assess the
Company's operating results relative to its operating results in
prior periods and improves the comparability of the information
presented. Investors should consider these non-GAAP measures in the
context of the Company's GAAP results.
(1)
|
During the third
quarter of fiscal 2020, the Company reported GAAP gross margin of
$198 million or 74.2% of revenue. Excluding the impact of stock
compensation expense and restructuring charges included in cost of
sales and software deferred revenue acquired included in revenue,
non-GAAP gross margin was $215 million, or 76.8% of
revenue.
|
(2)
|
During the third
quarter of fiscal 2020, the Company recorded the Q3 Fiscal 2020
Debentures Fair Value Adjustment of $20 million. This adjustment
was presented on a separate line in the Consolidated Statements of
Operations.
|
(3)
|
During the third
quarter of fiscal 2020, the Company incurred restructuring charges
of approximately $10 million, of which $3 million was included in
cost of sales and $7 million was included selling, marketing and
administration expense.
|
(4)
|
During the third
quarter of fiscal 2020, the Company recorded software deferred
revenue acquired but not recognized due to business combination
accounting rules of $13 million, which was included in BlackBerry
Cylance revenue.
|
(5)
|
During the third
quarter of fiscal 2020, the Company recorded deferred commission
expense acquired but not recognized due to business combination
accounting rules of approximately of $4 million.
|
(6)
|
During the third
quarter of fiscal 2020, the Company recorded stock compensation
expense of $15 million, of which $1 million was included in cost of
sales, $4 million was included in research and development, and $10
million was included in selling, marketing and administration
expense.
|
(7)
|
During the third
quarter of fiscal 2020, the Company recorded amortization of
intangible assets acquired through business combinations of $35
million, which was included in amortization expense.
|
Supplementary Geographic Revenue Breakdown
BlackBerry
Limited
|
(United States
dollars, in millions)
|
Revenue by
Region
|
|
|
|
For the Quarters
Ended
|
|
|
November 30,
2019
|
|
August 31,
2019
|
|
May 31,
2019
|
|
February 28,
2019
|
|
November 30,
2018
|
North
America
|
|
$
|
188
|
|
|
70.4
|
%
|
|
$
|
179
|
|
|
73.4
|
%
|
|
$
|
160
|
|
|
64.8
|
%
|
|
$
|
176
|
|
|
69.0
|
%
|
|
$
|
151
|
|
|
66.8
|
%
|
Europe, Middle East
and Africa
|
|
60
|
|
|
22.5
|
%
|
|
47
|
|
|
19.3
|
%
|
|
61
|
|
|
24.7
|
%
|
|
61
|
|
|
23.9
|
%
|
|
56
|
|
|
24.8
|
%
|
Other
regions
|
|
19
|
|
|
7.1
|
%
|
|
18
|
|
|
7.3
|
%
|
|
26
|
|
|
10.5
|
%
|
|
18
|
|
|
7.1
|
%
|
|
19
|
|
|
8.4
|
%
|
Total
|
|
$
|
267
|
|
|
100.0
|
%
|
|
$
|
244
|
|
|
100.0
|
%
|
|
$
|
247
|
|
|
100.0
|
%
|
|
$
|
255
|
|
|
100.0
|
%
|
|
$
|
226
|
|
|
100.0
|
%
|
Supplementary Revenue by Product and Service Type
Breakdown
BlackBerry
Limited
|
(United States
dollars, in millions)
|
Revenue by Product
and Service Type
|
|
|
U.S.
GAAP
|
|
Adjustments
|
|
Non-GAAP
|
|
For the Three Months
Ended
|
|
For the Three Months
Ended
|
|
For the Three Months
Ended
|
|
November 30,
2019
|
|
November 30,
2018
|
|
November 30,
2019
|
|
November 30,
2018
|
|
November 30,
2019
|
|
November 30,
2018
|
IoT
|
$
|
145
|
|
|
$
|
148
|
|
|
$
|
—
|
|
|
$
|
2
|
|
|
$
|
145
|
|
|
$
|
150
|
|
BlackBerry
Cylance
|
40
|
|
|
1
|
|
|
13
|
|
|
—
|
|
|
53
|
|
|
1
|
|
Licensing
|
77
|
|
|
68
|
|
|
—
|
|
|
—
|
|
|
77
|
|
|
68
|
|
Other
|
5
|
|
|
9
|
|
|
—
|
|
|
—
|
|
|
5
|
|
|
9
|
|
Total
|
$
|
267
|
|
|
$
|
226
|
|
|
$
|
13
|
|
|
$
|
2
|
|
|
$
|
280
|
|
|
$
|
228
|
|
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 BlackBerry.com/Investors. 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 #9608207 and at the link above.
About BlackBerry
BlackBerry (NYSE: BB; TSX: BB) is a
trusted security software and services company that provides
enterprises and governments with the technology they need to secure
the Internet of Things. Based in Waterloo, Ontario, the company is unwavering
in its commitment to safety, cybersecurity and data privacy, and
leads in key areas such as artificial intelligence, endpoint
security and management, encryption and embedded systems. For more
information, visit BlackBerry.com and follow @BlackBerry.
Investor Contact:
BlackBerry Investor Relations
+1-519-888-7465
investor_relations@blackberry.com
Media Contact:
BlackBerry Media Relations
(519) 597-7273
mediarelations@blackberry.com
This news release contains forward-looking statements within the
meaning of certain securities laws, including under the U.S.
Private Securities Litigation Reform Act of 1995 and applicable
Canadian securities laws, including statements regarding:
BlackBerry's plans, strategies and objectives including the
anticipated benefits of its strategic initiatives and its
intentions to expand and enhance its product and service
offerings.
The words "expect", "anticipate", "estimate", "may", "will",
"should", "could", "intend", "believe", "target", "plan" and
similar expressions are intended to identify these forward-looking
statements. Forward-looking statements are based on estimates and
assumptions made by BlackBerry in light of its experience,
historical trends, current conditions and expected future
developments, as well as other factors that BlackBerry believes are
appropriate in the circumstances. Many factors could cause
BlackBerry's actual results, performance or achievements to differ
materially from those expressed or implied by the forward-looking
statements, including the following risks: BlackBerry's ability to
enhance, develop, introduce or monetize products and services for
the enterprise market in a timely manner with competitive pricing,
features and performance; BlackBerry's ability to maintain or
expand its customer base for its software and services offerings to
grow revenue or achieve sustained profitability; the intense
competition faced by BlackBerry; the occurrence or perception of a
breach of BlackBerry's network or product security measures or an
inappropriate disclosure of confidential or personal information
could significantly harm its business; risks related to
BlackBerry's continuing ability to attract new personnel, retain
existing key personnel and manage its staffing effectively;
BlackBerry's dependence on its relationships with resellers and
channel partners; risks related to acquisitions, divestitures,
investments and other business initiatives, which may negatively
affect BlackBerry's results of operations; risks related to
BlackBerry's products and services being dependent upon
interoperability with rapidly changing systems provided by third
parties; the risk that failure to protect BlackBerry's intellectual
property could harm its ability to compete effectively and
BlackBerry may not earn the revenues it expects from intellectual
property rights; the risk that BlackBerry could be found to have
infringed on the intellectual property rights of others; the risk
that litigation against BlackBerry may result in adverse outcomes;
risks related to the use and management of user data and personal
information, which could give rise to liabilities as a result of
legal, customer and other third-party requirements; BlackBerry's
ability to obtain rights to use third-party software; the risk that
network disruptions or other business interruptions could have a
material adverse effect on BlackBerry's business and harm its
reputation; BlackBerry's ability to generate revenue and
profitability through the licensing of security software and
services or the BlackBerry brand to device manufacturers; the
substantial asset risk faced by BlackBerry, including the potential
for charges related to its long-lived assets and goodwill; risks
related to BlackBerry's indebtedness, which could adversely affect
its operating flexibility and financial condition; risks related to
government regulations applicable to BlackBerry's products and
services, including products containing encryption capabilities,
which could negatively impact BlackBerry's business; risks related
to foreign operations, including fluctuations in foreign
currencies; risks associated with any errors in BlackBerry's
products and services, which can be difficult to remedy and could
have a material adverse effect on BlackBerry's business; risks
related to the failure of BlackBerry's suppliers, subcontractors,
channel partners and representatives to use acceptable ethical
business practices or to comply with applicable laws, which could
negatively impact BlackBerry's business; BlackBerry's reliance on
third parties to manufacture and repair its hardware products;
risks related to the Company's success in fostering an ecosystem of
third-party application developers; risks related to regulations
regarding health and safety, hazardous materials usage and conflict
minerals, and to product certification risks; risks related to tax
provision changes, the adoption of new tax legislation or exposure
to additional tax liabilities, which could materially impact
BlackBerry's financial condition; risks related to the fluctuation
of BlackBerry's quarterly revenue and operating results; the
volatility of the market price of BlackBerry's common shares; and
risks related to adverse economic and geopolitical conditions,
which may negatively affect BlackBerry.
These risk factors and others relating to BlackBerry are
discussed in greater detail in BlackBerry's Annual Information
Form, which is included in its Annual Report on Form 40-F and the
"Cautionary Note Regarding Forward-Looking Statements" section of
BlackBerry's MD&A (copies of which filings may be obtained at
www.sedar.com or www.sec.gov). All of these factors should be
considered carefully, and readers should not place undue reliance
on BlackBerry's forward-looking statements. Any statements that are
forward-looking statements are intended to enable BlackBerry's
shareholders to view the anticipated performance and prospects of
BlackBerry from management's perspective at the time such
statements are made, and they are subject to the risks that are
inherent in all forward-looking statements, as described above, as
well as difficulties in forecasting BlackBerry's financial results
and performance for future periods, particularly over longer
periods, given changes in technology and BlackBerry's business
strategy, evolving industry standards, intense competition and
short product life cycles that characterize the industries in which
BlackBerry operates. BlackBerry has no intention and undertakes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by applicable law.
BlackBerry
Limited
|
Incorporated under
the Laws of Ontario
|
(United States
dollars, in millions except share and per share amounts)
(unaudited)
|
|
Consolidated
Statements of Operations
|
|
|
|
For the Three
Months Ended
|
|
For the Nine
Months Ended
|
|
|
November 30,
2019
|
|
August 31,
2019
|
|
November 30,
2018
|
|
November 30,
2019
|
|
November 30,
2018
|
Revenue
|
|
$
|
267
|
|
|
$
|
244
|
|
|
$
|
226
|
|
|
$
|
758
|
|
|
$
|
649
|
|
Cost of
sales
|
|
69
|
|
|
68
|
|
|
56
|
|
|
207
|
|
|
157
|
|
Gross
margin
|
|
198
|
|
|
176
|
|
|
170
|
|
|
551
|
|
|
492
|
|
Gross margin
%
|
|
74.2
|
%
|
|
72.1
|
%
|
|
75.2
|
%
|
|
72.7
|
%
|
|
75.8
|
%
|
Operating
expenses
|
|
|
|
|
|
|
|
|
|
|
Research and
development
|
|
66
|
|
|
62
|
|
|
55
|
|
|
199
|
|
|
167
|
|
Selling, marketing
and administration
|
|
132
|
|
|
132
|
|
|
93
|
|
|
385
|
|
|
299
|
|
Amortization
|
|
49
|
|
|
48
|
|
|
33
|
|
|
146
|
|
|
105
|
|
Debentures fair value
adjustment
|
|
(20)
|
|
|
(23)
|
|
|
(69)
|
|
|
(71)
|
|
|
(111)
|
|
|
|
227
|
|
|
219
|
|
|
112
|
|
|
659
|
|
|
460
|
|
Operating income
(loss)
|
|
(29)
|
|
|
(43)
|
|
|
58
|
|
|
(108)
|
|
|
32
|
|
Investment income
(loss), net
|
|
(1)
|
|
|
—
|
|
|
2
|
|
|
2
|
|
|
13
|
|
Income (loss)
before income taxes
|
|
(30)
|
|
|
(43)
|
|
|
60
|
|
|
(106)
|
|
|
45
|
|
Provision for
income taxes
|
|
2
|
|
|
1
|
|
|
1
|
|
|
5
|
|
|
3
|
|
Net income
(loss)
|
|
$
|
(32)
|
|
|
$
|
(44)
|
|
|
$
|
59
|
|
|
$
|
(111)
|
|
|
$
|
42
|
|
Earnings (loss)
per share
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$
|
(0.06)
|
|
|
$
|
(0.08)
|
|
|
$
|
0.11
|
|
|
$
|
(0.20)
|
|
|
$
|
0.08
|
|
Diluted
|
|
$
|
(0.07)
|
|
|
$
|
(0.10)
|
|
|
$
|
(0.01)
|
|
|
$
|
(0.27)
|
|
|
$
|
(0.09)
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-average
number of common shares outstanding (000s)
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
554,585
|
|
|
552,343
|
|
|
540,406
|
|
|
552,931
|
|
|
538,251
|
|
Diluted
|
|
615,085
|
|
|
612,843
|
|
|
600,906
|
|
|
613,431
|
|
|
598,751
|
|
Total common shares
outstanding (000s)
|
|
552,132
|
|
|
548,336
|
|
|
547,084
|
|
|
552,132
|
|
|
547,084
|
|
BlackBerry
Limited
|
Incorporated under
the Laws of Ontario
|
(United States
dollars, in millions) (unaudited)
|
|
Consolidated
Balance Sheets
|
|
|
|
As
at
|
|
|
November 30,
2019
|
|
February 28,
2019
|
Assets
|
|
|
|
|
Current
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
515
|
|
|
$
|
548
|
|
Short-term
investments
|
|
367
|
|
|
368
|
|
Accounts receivable,
net
|
|
216
|
|
|
233
|
|
Other
receivables
|
|
13
|
|
|
19
|
|
Income taxes
receivable
|
|
10
|
|
|
9
|
|
Other current
assets
|
|
58
|
|
|
56
|
|
|
|
1,179
|
|
|
1,233
|
|
Restricted cash
and cash equivalents
|
|
32
|
|
|
34
|
|
Long-term
investments
|
|
56
|
|
|
55
|
|
Other long-term
assets
|
|
23
|
|
|
28
|
|
Deferred income
tax assets
|
|
—
|
|
|
2
|
|
Operating lease
right-of-use assets
|
|
133
|
|
|
—
|
|
Property, plant
and equipment, net
|
|
76
|
|
|
85
|
|
Goodwill
|
|
1,459
|
|
|
1,463
|
|
Intangible assets,
net
|
|
955
|
|
|
1,068
|
|
|
|
$
|
3,913
|
|
|
$
|
3,968
|
|
Liabilities
|
|
|
|
|
Current
|
|
|
|
|
Accounts
payable
|
|
$
|
27
|
|
|
$
|
48
|
|
Accrued
liabilities
|
|
193
|
|
|
192
|
|
Income taxes
payable
|
|
19
|
|
|
17
|
|
Debentures
|
|
609
|
|
|
—
|
|
Deferred revenue,
current
|
|
264
|
|
|
253
|
|
|
|
1,112
|
|
|
510
|
|
Deferred revenue,
non-current
|
|
117
|
|
|
136
|
|
Operating lease
liabilities
|
|
127
|
|
|
—
|
|
Other long-term
liabilities
|
|
8
|
|
|
19
|
|
Long-term
debentures
|
|
—
|
|
|
665
|
|
Deferred income
tax liabilities
|
|
1
|
|
|
2
|
|
|
|
1,365
|
|
|
1,332
|
|
Shareholders'
equity
|
|
|
|
|
Capital stock and
additional paid-in capital
|
|
2,742
|
|
|
2,688
|
|
Deficit
|
|
(157)
|
|
|
(32)
|
|
Accumulated other
comprehensive loss
|
|
(37)
|
|
|
(20)
|
|
|
|
2,548
|
|
|
2,636
|
|
|
|
$
|
3,913
|
|
|
$
|
3,968
|
|
BlackBerry
Limited
|
Incorporated under
the Laws of Ontario
|
(United States
dollars, in millions) (unaudited)
|
|
Consolidated
Statements of Cash Flows
|
|
|
For the Nine
Months Ended
|
|
November 30,
2019
|
|
November 30,
2018
|
Cash flows from
operating activities
|
|
|
|
Net income
(loss)
|
$
|
(111)
|
|
|
$
|
42
|
|
Adjustments to
reconcile net income (loss) to net cash used in operating
activities:
|
|
|
|
Amortization
|
160
|
|
|
116
|
|
Stock-based
compensation
|
46
|
|
|
53
|
|
Non-cash
consideration received from contract with a customer
|
(8)
|
|
|
—
|
|
Debentures fair value
adjustment
|
(71)
|
|
|
(111)
|
|
Other long-term
assets
|
—
|
|
|
2
|
|
Operating
leases
|
(12)
|
|
|
—
|
|
Other
|
9
|
|
|
4
|
|
Net changes in
working capital items:
|
|
|
|
Accounts receivable,
net
|
17
|
|
|
13
|
|
Other
receivables
|
6
|
|
|
46
|
|
Income taxes
receivable
|
(1)
|
|
|
13
|
|
Other
assets
|
3
|
|
|
(1)
|
|
Accounts
payable
|
(21)
|
|
|
(14)
|
|
Income taxes
payable
|
2
|
|
|
(1)
|
|
Accrued
liabilities
|
(24)
|
|
|
(57)
|
|
Deferred
revenue
|
(10)
|
|
|
(23)
|
|
Other long-term
liabilities
|
7
|
|
|
—
|
|
Net cash provided
by (used in) operating activities
|
(8)
|
|
|
82
|
|
Cash flows from
investing activities
|
|
|
|
Acquisition of
long-term investments
|
(1)
|
|
|
(2)
|
|
Proceeds on sale or
maturity of long-term investments
|
—
|
|
|
2
|
|
Acquisition of
property, plant and equipment
|
(9)
|
|
|
(14)
|
|
Proceeds on sale of
property, plant and equipment
|
—
|
|
|
1
|
|
Acquisition of
intangible assets
|
(24)
|
|
|
(24)
|
|
Business
acquisitions, net of cash acquired
|
1
|
|
|
—
|
|
Acquisition of
short-term investments
|
(829)
|
|
|
(2,754)
|
|
Proceeds on sale or
maturity of short-term investments
|
830
|
|
|
2,962
|
|
Net cash provided
by (used in) investing activities
|
(32)
|
|
|
171
|
|
Cash flows from
financing activities
|
|
|
|
Issuance of common
shares
|
8
|
|
|
5
|
|
Finance lease
liability
|
(2)
|
|
|
—
|
|
Net cash provided
by financing activities
|
6
|
|
|
5
|
|
Effect of foreign
exchange loss on cash, cash equivalents, restricted cash, and
restricted cash equivalents
|
(1)
|
|
|
(3)
|
|
Net increase
(decrease) in cash, cash equivalents, restricted cash, and
restricted cash equivalents during the period
|
(35)
|
|
|
255
|
|
Cash, cash
equivalents, restricted cash, and restricted cash equivalents,
beginning of period
|
582
|
|
|
855
|
|
Cash, cash
equivalents, restricted cash, and restricted cash equivalents, end
of period
|
$
|
547
|
|
|
$
|
1,110
|
|
|
|
|
|
As
at
|
November 30,
2019
|
|
February 28,
2019
|
Cash and cash
equivalents
|
$
|
515
|
|
|
$
|
548
|
|
Restricted cash and
cash equivalents
|
$
|
32
|
|
|
$
|
34
|
|
Short-term
investments
|
$
|
367
|
|
|
$
|
368
|
|
Long-term
investments
|
$
|
56
|
|
|
$
|
55
|
|
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SOURCE BlackBerry Limited