BB.TO - Earnings call transcript Q3 2023

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Operator

Good afternoon, and welcome to the BlackBerry Third Quarter Fiscal Year 2023 Results Conference Call. My name is Matt, and I will be your conference moderator for today's call.

During the presentation, all participants will be in a listen-only mode.

We will be facilitating a brief question-and-answer session towards the end of the conference. [Operator Instructions] As a reminder, this conference is being recorded for replay purposes. to call like to now would turn over today's Mr. I Investor Vice President Foote, Relations. of Tim BlackBerry Please go ahead.

Tim Foote

the With Steve call Thank regarding cautionary to Chief Officer, fiscal provide call. Steve BlackBerry's will Matt. Executive forward-looking third on will you, Good and update, financial I business quarter statements, XXXX afternoon, Officer, John Rai. results. earnings John Chief Chair After are note Executive today and review Chen; welcome me and and the Financial conference our read

We general for will This replay section will webcast a brief call is Information open the website. A then call call-in also via Q&A be available public and Investor blackberry.com. session. to numbers available the the on in at blackberry.com via the

we'll and such be will, forward-looking Canadian safe expressions. statements intend, to the Securities constitute today statements believe, are words and as forward-looking provisions indicate pursuant by the of U.S. statements harbor making using laws. expect, of applicable and model, made Some should, similar We'll

differ those in Forward-looking historical Company the Company Company's of Company's in the results Many factors could factors well discussed the statements its are other These made by are and risk factors that forward-looking relevant. perception cause of factors annual expressed by its estimates statements. and or materially the performance on the actual implied to as experience and current future from are developments light conditions or include that expected as assumptions believes trends, and MD&A. based the filings

and as by as Company them, statements. made place revise to the forward-looking forward-looking Any statements has undertakes of required reliance except update obligation and only of on or today, not should no any the law. undue no intention You are Company's

the of quarterly As call, numbers our will in and summary non-GAAP results. our John is Steve reference during customary

that, published I'll blackberry.com press on a reconciliation with the please over call to website. SEDAR the turn EDGAR, and GAAP which release between and our available numbers, today, And John. earlier earnings non-GAAP see For the is

John Chen

was the Thanks, where indicators beat cyber for made per afternoon, and revenue progress company earnings thanks good This quarter a total everyone. today. leading call Tim. BlackBerry both, Good on the and And businesses. BlackBerry share. for both for expectations IoT joining the based

side, really as business five performing very for revenues. the On The foundation saw record compute, yet decision ago over we bearing for IoT trusted another the to especially setting fruit. the strategic QNX position strongly high-performance auto, made years is in edge design-phase

we the in cyber last of churn we in drive business. line that The billings On growth go-to-market investment being in continued we made level what the experienced said sequential improvement to our quarter, cyber an with and recently. in side, saw product

review Let IoT me the start with business my unit.

strong was that XX%; margin revenue and strength being quarter. development As driven is by revenue, another services, seats professional increase; million, for XX% preproduction Revenue a new year-over-year was gross was another design mentioned, wins. there $XX set is This significant record.

European wins with Aptiv a GEM, Truck, safety-critical driver year, digital largest X Chinese we cluster wins assist period. for a quarter in total In an first a design secured In Tier use win power advanced new The GEM. combat for momentum control include this XX or to but well the with fact, system, months of than OEM. gaining with a quarter, design driver market, with digital share. of embedded RTOS with few. auto was auto more a and design six significantly to the and of flight system to Among quarter domain win in Daimler particularly Other as cases Marelli, aerospace. hypervisor design backlog royalty we an the includes a the autopilot are cockpit market design QNX with for number supplier verticals, industrial, cockpit that and this In leading in general wins where naval a surgery instrument new defense supplier XX continued an use XX Tier fiscal secured BlackBerry any ADAS, assist, just into ADAS wins, And the added a and win months the prior leading module. X as we with and and automaker a medical, in Japanese retinal X name in a robotics auto a past

a very upcoming technology. rate, course, backdrop significant a our designs. for We strong of given see strong both success a China believe of We recent see forward, India, we're markets and to for into very auto strong Looking position mixed. remains convert macro we in wins that of the in new to market opportunity continue reputation the pipeline our strength QNX. and, in The industry-wide strength this

On to the due supply demand primarily flip some in America tightening ongoing side, challenges. and we North Europe, and see chain some

However, some you it is to important context. give

important in revenue to revenue, the shift the has double-digit total an auto software-defined growth. and industry’s significant factor drives vehicle program the that us development While production deliver QNX to is this volume enabled

growing Being be market made additional QNX product large for across will auto. that announced developers re:Invent their time greatly to market QNX via to developers the announcement system and not over in AWS’ of cloud we cloud-native AWS cloud. assess significant a QNX reduces by be a will reach just QNX provides X accessible supply quarter conference, for developers community This Amazon virtual engineering made and multiple in available able million major BlackBerry. At the verticals, workbench. for the to

and to access product We have available positive selected from feedback very and both, demonstration this OEMs Tier Xs. early make

details at the CES. provide general We expect availability on to more

a for America EV use public we secure city delivered PKI, This in opportunity cases the connectivity the a charging international stations electric smart allowing as significant Moving opens enables charging the vehicle identify new leading new BlackBerry vehicle-to-grid station exciting for as future. Certicom meet capability quarter, to an establish OEM and and secure to infrastructure for our infrastructure the automotive technology. well solution now to solution, trusted vehicle for standard The interfaces. to key and critical OEM. In North

we into in provided revenue of the QX, the Given business previously. we the come end expect strength of range the high going to IoT at

therefore, are, which revenue to to translates outlook range expecting We $XXX year-on-year full growth. XX% the now in million to XX% to $XXX be of million, year our

were demonstration Berlin, IVY Let We the to past me planned. now Amazon IVY was running in platform and move also AWS assistant in-car applications. a in attended Xs. development OEM to Proof-of-concept shown workshop IVY in Vegas, held IVY. a very quarter. some with from Tier Las progress Alexa with virtual remains Product cloud at enabling Peugeot operating track maintenance week, development and Feedback Last significant was released customer car well. by month, last and latest trials the the and predictive Bosch in both World this on version positive. conference continue well there as also events Connected the product at of had payments the re:Invent was

a service automatic application the XXX new quarter. start-up We this notification the Telematics event Roadside ecosystem Roadside to California-based BlackBerry sensor crash. is also emergency IVY to to of in a aiming IVY the provide Telematics from data use added from to

improved was increased rate quarter was was basis, Let net quarter that recently $XXX see our an conservative turn million. in last and pay Gross and product billing line it, The rate to In retention seen for to rates with margin for with of in quarter, $XXX with million. the $XXX are we dollar-based Revenue to now a XX%. million. On off. XX%. uptick our second business. me in improved this the starting comments ARR. signs renewal quarter-over-quarter cybersecurity quarter ARR sequential was investments The people churn has an change

Services, Turning great noticing quarter, In State Investment near fare bit some German an cycles U.S. expansions. than Singapore security of Defense those the companies, of it adoption in Homeland same well of as renews the Bank Department analysts U.S. anywhere during term, Department MBDA, Defense Department missile specifically. of for U.S. the the communications. Department we the Crédit We've Energy. with will environment we're business to a cybersecurity regulated NATO past the secure the of Therefore, solution both, is skew particularly government. of environment. Furthermore, government in well DBS Bank of did highest Bank. Financial In America, Guard. the industry U.S. headquarter, Agency were business briefly heavy to likely cybersecurity National Management, many now FBI, Ministry most, the that the towards the Security, U.S. Shared the Court, Home be the the China, other elongation Federal Affairs. regulated of Missile solution also a our as increased headwind although seen in Wales, as the Also Treasury our Touching and secured noted needs of agencies and better German a official NATO UEM still software in Iceland, given Canada, despite number the as as remains as likely OEM customers, macro system company, Outside quarters. multiyear the German pan-European of market Blackstone environment. Australian Agency, includes we kfw of the Intelligence macro with Government including the of This than as multiple sales BlackBerry in account Scottish secured the of This business as Service the voice we Government purchase. who customers Also, with world, Bank, those within on the Agricole, some Police previously. quarter, challenges, past in include and The macro well the transactions the Justice, essential the U.S. Federal approved the for North such

leading we as examples Finally, as & including other equipment ABB, with win continue a law Switzerland leading Johnson Cromwell too, to firm that I'll electric well Johnson, Sullivan verticals, in manufacturer. a mention &

Summit Some have October. York Exchange Security New of at in for our you the joined will hopefully Stock us

and we threat services a tailored particularly with from will During event, launch response been subscription has intelligence briefings. announced customers the positive, initial that service January of provide threat This government the cyber in will launch the agencies. the

Turning to outlook.

customer continuing new acquisitions logo to see improvement We quarter. both, expect next in and churn

team not cyber close. previously But for large QX are that to mentioned, our hard some the -- outlook We cyber government revenue working is outlook potential as billings. by changing deals and includes

with timing this always, can’t be of deal predictable. As larger nature,

or QX in billing in growth we currently billings next expect for fiscal the row. for half we we expect year. growth in a able revenue. strong and indicator This exceeding second This if to of third the ARR However, to regardless expect a the leading sequential mean they growth whether quarter more, of deal to value this of billings would a in deliver return to What's QX, see QX close quarter. the in is slip time sequential we're in

in came than in $XX million. In quarter Let me we quarter, the they expected licensing past expected. the higher move licensing. revenue now was to from than XX%. related Revenue in recognized deals, Gross came margin at royalties to stronger and

Steve, Let turn details financials. now will the call over to who on provide our me more

Steve Rai

you, Thank John.

fair quarter million be business for is strategy our new strategy gain in our company Total in usual, noted. growth of This there, profitability. of otherwise IoT million. eased meaning opportunities cyber million expenses As as $XX business gross strategic in intangibles capitalize back These with on and the in were pay in investment us for if $XXX $XX both comments company to to winning amortization revenue allocation for million, million debentures, in was designs the expense. see was well on a mode, we and These and quarter compensation acquired financial as exclude trajectory for the stock BlackBerry on cybersecurity off convertible drive is third and required. non-GAAP capital remains the expenses $XXX investment my aggressive investments of front top in investments levels XX%. improving. of $X IoT Total the our terms, unless non-GAAP operating third line strong for our margin quarter Operating to can targeted business will are deliver value performance be record the starting the discretionary

million. EPS investments, loss the operating GAAP near these million, the loss the The expect cash operating loss and term. to continue non-GAAP and we quarter was usage Given $XX manageable in was $X third for

to concludes the cash for in XXXX. November and turning sheet $XX balance cash, accounting cash cash before call Free the legal back at comments, quarter equivalents and were a prior investments to I'll case of million Now, Total John. flow. That $XXX usage million. was settlement XX, the the turn and my

John Chen

Thank right. All Steve. you,

the key we on line Before open let for me up Q&A, recap messages. the

IoT in his think deliver to by The a I this business the units missed revenue a and trajectory improved few as year-over-year macro unit IP sorry, the because as Anyway, continues we're We strong logos. are patent made our churn the pleased with notes. The quarter. headwind. with of made multiyear progress Steve -- progress points progressing business sale. the XX% has core both a unit portfolio level quick growth, well deals a And with finally, cybersecurity business is despite new update and increased pleased on

we interested of been progress them. say, final financing has parties. two and you main As documents. with before, the partners negotiating the are are pleased tremendous currently both said lineup there Catapult, a know, now has motivated to made all parties who I'm

Matt, as completed discussions remarks. financing. progress. The for Q&A. large need are second you doesn't a and advanced. open will you line concludes is obviously updated They That due external have well PE could my We the party that sheets term please firm things their diligence keep

Operator

first Baird. Please [Operator ahead. Junk Instructions] Luke And from with come our question go will

Luke Junk

A related the questions of couple business. IoT to

in color auto interested but also of and royalty you can that you be the over might you'd of preproduction Thank able the year give a commentary too John, out First, to how on lay business in terms in looking course, any IoT? business. of next few the if software parts line into or that of on on there's be business, in trends sight any that activity quarters Specifically, additional have of forward, you. add subcomponents launch that next your anything

John Chen

clearly. Luke? didn't It come across

Tim Foote

piece Baird. said is the record guessing Breaking you've around royalties. other obviously IoT that Yes. revenue, Any levels. preproduction This I'm is at comments? from Luke down

John Chen

kind from -- I is from typical actually, general seats well as year very or and coming could come typical across thumb. developers, come our you guideline quarter professionals. microphone. tell clear didn't of our rule XX% revenue coming of That's our a royalty, then then XX% year, as -- about services. the from And on sorry, It of XX%

So, Luke, sorry about it.

could... you So, if

Tim Foote

is, question, color that is strength I Perhaps base? given design we've rephrase with on can if phase Luke, the the there seen in royalties, preproduction any

John Chen

much million production. expect, built meaning pretty year. about is basically same, royalty what proportionately The were that cost mean, tied I auto being we Well, to this productions industry the $XX

COVID probably XX%, years. about down little a it's So, three XX% from previous

So, that you guideline like. the some gives what royalty is of

Luke Junk

I’ll there, bad just you. and it connection leave take it given offline. Thank

Operator

go from come Mike Canaccord next Walkley Please Our with question will Genuity. ahead.

Mike Walkley

question. a Just the follow-up on maybe IoT

level revenue design the of ADAS. record and based particularly you're Just the on some in of seeing for phase

go cars how in these years, think the system into versus magnitude As car investors should the production current maybe future about today? of royalty per infotainment

John Chen

Yes.

good a that's yes, -- So question.

the which you're of basically a $XX car. And, ARPU So, a we’re ARPU the big asking from our quite questions, targeted be to business it. course, ARPU, is remains

infotainment at to look down to now probably $X you if a the However, infotainment world, car. $X world

$X, ADAS is $X. On pushing $X the high-single-digit hand, $X, -- dollars, other probably $X,

infotainment. all certainly about newer the stuff, So, to vehicle-to-vehicle factor dollar they features, that's and a and how -- it, any reasonable tied amount then cockpit, a communications have clusters,

Mike Walkley

helpful. Cylance are landscape. competitors cybersecurity there's Trend and my competitive I the [ph] from know are and Mac about to follow-up aggressive, That's the And like business share the several maybe endpoint and more also cycles. price on that for deal and pretty they're elongated Thanks. talking but Micro, question, there gain next-generation just

of half could the ARR what's confidence of on that to update growth in you're giving return next second what So, you us to and you seeing kind year?

John Chen

Yes.

model first pipeline bit have pretty we year-over-year real mean, units factor next little a We and some is of government of We obviously for the that's spreadsheets the ARR ARR a half probably it pretty and looks the of like business the year out, company. based half second to have growth, second in returning the the -- growth between elaborate organization the stable and next of And half. I finance that quite push sorry, the of cyber today. on And then, the of in year, course, contract. of renewal

and they an on. budgets budgets they so on have have -- they that's government the they what is spend annual many can and buy all only can they basis, have One approved challenges of we contracts because our typically only

thing their on are government other buying steady also. steady pretty face. is one we and good are customers quite the there patterns that's that hand, that and news in the But So, the stable

Mike Walkley

more look you how thinking you licensing the challenging preserving a the macro, guys business, you thoughts Maybe just environment pass John, are question, growth You have I'll on cash the as next have if one ample sheet. heading your and balance balance you But macro the guys balancing on selling line. about versus free end investment flow? up for should last year? the on cash into cash sheet and into

John Chen

Good questions. definitely outlined, are in careful in Steve we listen investment Where we very kind we has are IoT, of what hiring. you a In now, are right to mode. investing

say in lot a and I the and the wouldn't We deals, are winning the of the the deals. world of majority the but world. a hypervisor particularly all deals, cockpit world ADAS

believe we there it. momentum, to capture we for us, the wanted the is the tailwind and of kind So,

So, services we'll people. we engineers, be hiring will hiring be professional

are We and programs expanding our sales partnered everything our else. force,

cyber the Giamatteo growth profitability. the is ARR John with the the balancing balancing and of the side, that On billings,

little probably growth investment -- bottom pointed the be macro, slower of with as to be the a line will uncertainty given still there, eye an out. the the but the So, there you it’d

want bit more keep the growing of of is So, to guarded one because a a balancing, growth. do cities here. other One it's the and we kind got little we of momentum; more a tale two just is

Operator

come Please will ahead. next CIBC. Our from question with go Todd Coupland

Todd Coupland

okay? me hear you Can

John Chen

Yes.

Todd Coupland

internet sounds cyber All fine. ask CIBC on -- about to wanted mic the you is It working I like business. right. the first

in other actually to product year-on-year to needed bundles bring talking How in some much the more half. the first team and you're contemplating those updated the flat get you're growth saying new to is sales second that ranges whatever basically about? So, you're work with half

John Chen

meaning we increasing think the growing sales size sales I are our net is that force, modestly. force

have mysterious in or any I a some order program just said. have of we very so, don't And to sort to achieve aggressive program what

and be half reason way, expecting to pretty of we able cyber past so-called all first the be I the first the for unit were they'll cycle. think business is we a in as reminder, by in the the because feel Only feels comfortable, flattish, that sales is comfortable growth flattish the elongating half.

then that's some and things. do to And it X we be again. driven a up to us special expect rather macro lot So, than having months for flattish pick more really

So we road by technology. We the and about, on particular product, MSP. in I continue stuff do mean think products large, none are of depending continue to of to a talk professional the the increase particularly the have map pretty the that shape. But a need to drive I good services, I channel,

I need to the those anyway. but part it's plan things our two happen to that think happen, are make of

So special. nothing really

Todd Coupland

question a That's I And the I had helpful. on, the guess, on then, balance movements sheet.

million, million going second like the $XXX into price takeaway the I the if get possibly higher, get you're comes the potentially the in they in, that? that it party mix there the they or close to What's can past, the change message that So, business is they licensing if for on to or just patent and get here, first is deal? think does the is $XXX

John Chen

both the sorry, I'm we're I negotiating I to shouldn't unfair answer. questions, it’s course, parallel. Yes. on understand, I parties, while know have of comment in the I it. But and

until this the made on So, announcement, am or of expecting that the don't just conclusion I soon. hold off mind, we the relatively you announcement if

Todd Coupland

gone the question has talked in with second confidence probability is with see. the gone where where the initial last -- we from was part -- takeaway this, that that that it's million has then to of of time $XXX materially and the getting But financing. other the up the about up I party the level financing getting

John Chen

-- go can't into has up. I dramatically has party, the you're initial structure, Again, but Yes. the confidence the right, gone level

Todd Coupland

in given some adjustments? was that the the to two parties here we potentially that structure open take Okay. Should delay announced away is before the

John Chen

Very minor

Todd Coupland

see. I

Okay.

Okay. And balance sheet one question. follow-up then sort of just

point? messaging on about One in down refinancing year, is paying of the versus a debentures any it at due this

John Chen

going we're pay down. it think I to

Todd Coupland

down? message right. that The Okay. pay Thanks much. very All is Great.

John Chen

Sure.

Operator

come will Please Research. question Equities Chowdhry Trip Next with ahead. from Global go

Trip Chowdhry

seen This I considering the is good economy. budget, who budgets seen globe agency the we Have Two anything questions maybe opens government a government the have Whenever so in of increasing that their offset still have. reduce least a budgets are budgets any at you increase their and usually to recession, thinking their the or the federal yet across or backdrop. not up federal haven't the of far? like quarter collapse very may you

John Chen

bag, mixed a Trip. it's Well,

on for as government deal seen we far as Five example. I cyber G-XX probably with, have that that we're is back away the at, investment, it, G-X, depending about particularly So, Eyes not from level which government country, the

or So, we and the spending being seen have not cyber in spending. budget reduced IT cut

more; that's Canadian some a pockets, news. for point supporting defense selected There lot spending more Germany, more good example. are view; government spending also Ukraine, a NATO, So, of spend very IT bit an little and from and

bit more money the are there, a little U.S., driven the more social program. towards So,

IT of -- yes kind or can't it's an kind reduce that budget scale, governments on close give a on no tag depends the haven't you It their seen very the overall year. with. various keeping governments we're of a But I answer. So, I

Trip Chowdhry

Very good.

all approach seat that's the lot tiny only at very bringing entertainment, Like it, is saying, X them Do market. there or And screens, X front entertainment, you royalty or changes of Do think royalties for video X on each is now the increase a are EV overhead the a vehicle, X the that. manufacturers new stream features. the had Second you. have X just there have rear screens. say, conference think average, of years, screen, name new, are potential in are seeing least big are we you you X vehicles into market? question, that a or just And back, X really multi-screen an as they one if entertainment, at vehicles because screens that One, multiple the some holidays either coming you? least for years of Happy to to all to me.

John Chen

I Happy Thank -- don't don't to you, me multi-screen bring mean, believe know, will holidays Trip. I more you, copies. I too.

there requirement a particularly of copies multi-MPU they goes purposes, or the vehicle, either up, for in QNX. software trend are as redundancy more is However, designed purposes capacity using

is display an architectural rather more point So, than point. a of it

Trip Chowdhry

I I I rather of got think Very the resiliency, And royalties it. got to cases it. more down. and XG, royalty because nice. it. I QNX go we if per token, the from use up more to vehicle same got stream from and than we go XG may directionally see then go copies and redundancy directionally

John Chen

QNX don't I to not mean, yes. Oh, we down see seen it. are I one, to of points -- anytime soon. Number go the there royalty have two going

In should have should go copies per -- and revenue gone fact, expected car the up. more

that, In it, goes behind IVY up, to addition when up. also we the IVY which our don't have capacity forget of goes usage

bring stream. us do revenue that will get that I'm good production. we a that also And -- hopeful into So,

Trip Chowdhry

you Excellent, conference. excellent. all very forward much. CES at you Thank seeing We look to

John Chen

Thank you.

Operator

next question RBC with Our Please go Treiber Paul will ahead. Markets. Capital come from

Paul Treiber

the trends terms which cyber the around parts to out you EPP? Just then or hoping to, improved speak sequentially versus you on on speak in moving can there versus specifically, some mechanics And you churn. comment UEM the the can NDR, there? of Can business, your declined churn break of

John Chen

Good question.

from coming general, enterprise. in indicated So have we is the the of based small-medium as UEM churn the the in beginning year,

theme, quarter, quite slowed have -- are least seeing a a now that seen we consistent down scheme bit. consistent has as but slowing. the the We last that At

little we In fact, seeing us. are deal going multiyear bit more bigger a the with

also and seeing the it, recently Gartner by And are price of to be I thing. a to infrastructure’s to quarter, mobile market. infrastructure, on starting item that's rather side same the security. to factor strategic is as UEM, viewed think a definitely particularly UEM cyber bit causes happened management is see, note we on The management wrote last relooked it more a little It's more look at starting now the in actually something being are now cybersecurity at the the than that endpoint a and Customers importance. treat stabilized. strategically,

of using this, the States are or secure most messaging for technology know banks a United probably You archiveable. that been in obviously, fined number not has the

I of infrastructure. the starting think to the CIOs at that the banks look forces all completeness

obviously. obviously, So player also, BlackBerry a just is UEM is UEM, time. established long This the around that's a for technology other been not UEM

answering I'm run of within the we your see question And and I churn way. of as UEM about still The in we slowdown. contained slowdown kind said, long a SMB -- So the a kind space.

anywhere haven't own. its We seen it seems seen EPP on definitely have to EPP. holding it be We not else.

Paul Treiber

helpful That's to understand that.

the there's shift about the a product or industries, seem, point competitive corporate-owned see device, regulated helping Do you your with look from or other you on positioning in do mean, Just how that relatively own settlement a from just your I speaking, devices. banking bringing banks. away it at see like when that BlackBerry position? does than you industries it other like from banking? And then, seems a

John Chen

that's So, at security comes in. when issues, high-level looking are they typically the goes bank where to and corporate our archiveability, strength and

And known think debate lot I platform so. not a the of exists, most in there's we're be the to secure industry. that over that mobile So,

So, that and helped seeing swing corporate maybe back us the industry, as devices? branches have at that or issue not as corporate I'm BYOD other a a go verticals lot. far and from issue major different to least And seen law I debates, government to enforcement,

Operator

for back Executive BlackBerry closing I of would to and like the remarks. turn Chen, Chair CEO John to over call

John Chen

Thank you, operator. thank you. Well, Okay.

running where at announcements Cherokee. will the in a BlackBerry CES exciting number including of Vegas, business, Jeep in have out, pointed and Las we As be IoT we IVY demonstration by

Trend, analyst. award a Xth Motor vehicle be On BlackBerry January, the with a of auto will software-defined cohosting industry leading

the In on could in contact don't -- I outstanding XX award. recognize there, -- whether evening have I been through if get know event those Tim. a tickets, They will you there's to There's to big we fact, made have Xth guys Vegas. but please industry who in know want XX we a software. automotive contributions the

Pacific register for Thank see event call, Please you p.m. be will a it's I day, which by and I So session we late. a at getting new investors hybrid able Q&A East the of you about booth. details for hope of at where holiday. and sure know the especially management blackberry.com/investor all on stream year. way, those X:XX hear exciting Time, to This developments. today's hosting on again is safe Coast, a have you with happy streamed, the following will and Xth, will the make And webpage. investor be joining next the you you a be family all

Operator

This concludes for today's you participation. your call. Thank

may disconnect. now You

BlackBerry Limited (BB) 21 Dec 222023 Q3 Earnings call transcript