BlackBerry Limited (NYSE: BB) drops around 2% in pre session on Monday as the business recently announced a new patent sale agreement for up to $900 million with Malikie Innovations Ltd, a division of the industry’s top patent monetization business, Key Patent Innovations Limited. There are no finance requirements, and KPI has obtained the money it needs from a reputable American investment company that oversees more than $30 billion in assets.
Executive Chairman & CEO, BlackBerry, John Chen said, with a royalty backlog of $640 million, BlackBerry’s IoT business segment broke its previous record for QNX design wins this fiscal year. Moreover, sales climbed by 16% year over year despite short-term macroeconomic and supply chain issues for the automobile manufacturing industry. Also, we declared the first IVY design win with a major carmaker this quarter.
As previously said, the timing of many significant government transactions slipped into later quarters at BlackBerry’s Cybersecurity business unit, but they are optimistic that they will finish this fiscal year. The team also kept up with their plan execution, launching our new Cylance Endpoint and Cylance Edge turnkey products that are simple to use and affordable. BlackBerry’s non-GAAP EPS this quarter exceeded expectations, and the company is still firmly focused on achieving profitable growth and positive cash flow.
Dongfeng Motor chooses the PATEO digital cockpit for its next all-electric VOYAH Model as BlackBerry announces its first BlackBerry IVY design victory. At CES 2023, BlackBerry will demonstrate BlackBerry IVY operating on three currently available commercial car platforms.
With the introduction of QNX Accelerate by BlackBerry, the real-time operating systems (RTOS) QNX Neutrino and QNX OS for Safety are now accessible via the cloud and the Amazon Marketplace. This eliminates the requirement for physical hardware and enables developers from across the Amazon ecosystem to work on QNX in a virtual environment. To power a digital LCD cluster for the Chinese market, including deployment in Geely Auto and Dongfeng Liuzhou Auto’s next-generation automobiles, Chongqing Yazaki chooses the QNX Neutrino RTOS.
The BlackBerry QNX Acoustics Management Platform (AMP) has been chosen by Marelli, a top Tier 1 global automotive supplier, as part of their improved in-car audio system for software-defined cars. Being the sole provider positioned in the upper right quadrant, BlackBerry has been named a 2023 Gartner Peer Insights Customers’ Choice for Unified Endpoint Management (UEM) products.
On the earnings conference call that follows the quarterly results release, BlackBerry will present a forecast for the fiscal year 2024.
