BlackBerry Reports 4th Quarter and Full Fiscal Year 2021 Results.

WATERLOO, Ontario: BlackBerry Limited (NYSE: BB; TSX: BB) today reported financial results for the three months ended February 28, 2021 (all figures in U.S. dollars and U.S. GAAP, except where otherwise indicated).

"This has been an exceptional year to navigate, however we are pleased with QNX's continued recovery, despite new challenges from the global chip shortage. QNX now has design wins with 23 of the world's top 25 electric vehicle OEMs and remains on course to return to a normal revenue run rate by mid-fiscal 2022. BlackBerry IVY also made encouraging progress, with positive engagement from a number of leading automakers and the launch of our BlackBerry IVY Innovation Fund." said John Chen, Executive Chairman & CEO, BlackBerry. "We are seeing tangible signs that our efforts and improvements in go-to-market are starting to pay off and have a positive impact. This quarter we generated strong sequential billings growth for our Software and Services business, including significant improvements for both Spark and QNX. Total billings are back to pre-pandemic levels."

Fourth Quarter Fiscal 2021 Financial Highlights

Total company non-GAAP revenue for the fourth quarter of fiscal 2021 was $215 million. Total company GAAP revenue for the fourth quarter of fiscal 2021 was $210 million.

Software and Services non-GAAP revenue for the fourth quarter of fiscal 2021 was $165 million. Software and Services GAAP revenue for the fourth quarter of fiscal 2021 was $160 million.

Licensing and Other GAAP and non-GAAP revenue for the fourth quarter of fiscal 2021 was $50 million.

Non-GAAP gross margin was 73% and GAAP gross margin was 72%.

Non-GAAP operating earnings were $18 million. GAAP operating loss was $313 million, primarily due to fair value adjustments to long-term debt, as a result of market conditions.

Non-GAAP earnings per share was $0.03 (basic and diluted). GAAP net loss per share was $0.56 (basic and diluted).

Total cash, cash equivalents, short-term and long-term investments were $804 million.

Net cash generated from operating activities was $51 million.

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