Emerging Technology

-- Total company revenue of $174 million .

-- IoT revenue of $43 million .

-- Cyber Security revenue of $107 million .

-- Licensing & Other revenue of $24 million .

-- Non-GAAP loss per basic and diluted share of $0.05 ; GAAP loss per basic and diluted share of $0.11 .

WATERLOO, ON , June 24, 2021 /PRNewswire/ -- BlackBerry Limited (NYSE: BB; TSX: BB) today reported financial results for the three months ended May 31, 2021 (all figures in U.S. dollars and U.S. GAAP, except where otherwise indicated).

BlackBerry Logo Black (PRNewsfoto/Blackberry Limited)

"This quarter we aligned the business around the two key market opportunities – IoT and Cyber Security.  In IoT we are pleased with the strong progress of the auto business, despite global chip shortage headwinds.  Design activity remains strong, the number of vehicles with QNX software embedded has increased to 195 million, and royalty revenue backlog grew by 9% year-over-year.  Tangible progress continues to be made with BlackBerry IVY, including the launch of the IVY Advisory Council and the first investment by the IVY Innovation Fund," said John Chen , Executive Chairman & CEO, BlackBerry. "On the Cyber Security side, we announced two new significant product launches as part of our XDR strategy – BlackBerry Gateway and Optics 3.0. We continue to see strong pipeline growth for our new UES products."

First Quarter Fiscal 2022 Financial Highlights

  • Total company revenue for the first quarter of fiscal 2022 was $174 million .
  • Total company gross margin was 66%.
  • IoT revenue for the first quarter of fiscal 2022 was $43 million , with gross margin of 84% and ARR of $86 million .
  • BlackBerry QNX royalty revenue backlog increased from $450 million in Q1 FY21 to $490 million in Q1 FY22, a 9% increase year-over-year.
  • Cyber Security revenue for the first quarter of fiscal 2022 was $107 million , with gross margin of 57% and ARR of $364 million .
  • Licensing and Other revenue for the first quarter of fiscal 2022 was $24 million as negotiations for the sale of a portion of the patent portfolio continue.
  • Non-GAAP operating loss was $23 million . GAAP operating loss was $58 million .
  • Non-GAAP loss per share was $0.05 (basic and diluted). GAAP loss per share was $0.11 (basic and diluted).
  • Total cash, cash equivalents, short-term and long-term investments were $769 million .
  • Net cash used by operating activities was $33 million .

Business Highlights & Strategic Announcements

  • Volvo Group selected BlackBerry® QNX® operating system and hypervisor as foundation for its 'Volvo Dynamic Software Platform', to meet the needs of the 'whole truck'.
  • WM Motor, a Chinese electric carmaker, chose BlackBerry QNX to power its W6 all-electric SUV.
  • BlackBerry QNX and BiTECH Automotive (formerly Bosch Car Multimedia Wuhu Co. Ltd) jointly developed a digital LCD instrument cluster for Changan's UNI-K SUV.
  • BlackBerry QNX is now embedded in over 195 million vehicles, increasing from over 175 million vehicles last year.
  • BlackBerry launched BlackBerry IVY Advisory Council to drive use case generation using BlackBerry IVY™. Initial members include Geico, Cerence, HERE, Telus and Amazon.
  • BlackBerry's IVY Innovation Fund made its first investment in Electra Vehicles, a start-up that will use data from BlackBerry IVY in its AI-driven platform to optimize battery performance.
  • BlackBerry announced appointment of Mattias Eriksson as President of IoT business unit.
  • BlackBerry announced BlackBerry® Optics 3.0, its next-generation cloud-based endpoint detection and response (EDR) solution.
  • BlackBerry further built out Extended Detection and Response (XDR) strategy with launch of BlackBerry® Gateway, the company's first AI-empowered Zero Trust Network Access (ZTNA) product.
  • BlackBerry's AI-driven, prevention-first BlackBerry® Protect product demonstrated to block both DarkSide ransomware and Conti ransomware, even using the 2015 version of the product.

Outlook
BlackBerry will provide fiscal year 2022 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.

Use of Non-GAAP Financial Measures
The tables at the end of this press release include a reconciliation of the non-GAAP financial measures used by the company to comparable U.S. GAAP measures and an explanation of why the company uses them.

Conference Call and Webcast
A conference call and live webcast will be held today beginning at 5:30 p.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 8:30 p.m. ET by dialing +1 (800) 585-8367 and entering Conference ID #2676452 and at the link above.

About BlackBerry
BlackBerry (NYSE: BB; TSX: BB) provides intelligent security software and services to enterprises and governments around the world. The company secures more than 500M endpoints including more than 195M vehicles.  Based in Waterloo, Ontario , the company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety and data privacy, and is a leader in the areas of endpoint security, endpoint management, encryption, and embedded systems.  BlackBerry's vision is clear - to secure a connected future you can trust.

BlackBerry. Intelligent Security. Everywhere.
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
+1 (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 its expectations with respect to BlackBerry QNX and BlackBerry IVY and increasing and enhancing 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 and its perception of historical trends, current conditions and expected future developments, as well as other factors that BlackBerry believes are appropriate in the circumstances, including but not limited to, BlackBerry's expectations regarding its business, strategy, opportunities and prospects, the launch of new products and services, general economic conditions, the ongoing COVID-19 pandemic, competition, and BlackBerry's expectations regarding its financial performance.  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, without limitation, risks related to the following factors: 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 cybersecurity measures, or an inappropriate disclosure of confidential or personal information; the failure or perceived failure of BlackBerry's solutions to detect or prevent security vulnerabilities; the impact of the COVID-19 pandemic; 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; litigation against BlackBerry; network disruptions or other business interruptions; BlackBerry's ability to foster an ecosystem of third-party application developers; BlackBerry's products and services being dependent upon interoperability with rapidly changing systems provided by third parties; BlackBerry's ability to obtain rights to use third-party software and its use of open source software; failure to protect BlackBerry's intellectual property and to earn expected revenues from intellectual property rights; BlackBerry being found to have infringed on the intellectual property rights of others;  the substantial asset risk faced by BlackBerry, including the potential for charges related to its long-lived assets and goodwill; BlackBerry's indebtedness; tax provision changes, the adoption of new tax legislation or exposure to additional tax liabilities; the use and management of user data and personal information; government regulations applicable to BlackBerry's products and services, including products containing encryption capabilities; the failure of BlackBerry's suppliers, subcontractors, channel partners and representatives to use acceptable ethical business practices or comply with applicable laws; regulations regarding health and safety, hazardous materials usage and conflict minerals; acquisitions, divestitures and other business initiatives; foreign operations, including fluctuations in foreign currencies; the fluctuation of BlackBerry's quarterly revenue and operating results; the volatility of the market price of BlackBerry's common shares; adverse economic, geopolitical and environmental conditions.

These risk factors and others relating to BlackBerry are discussed in greater detail in BlackBerry's Annual Report on Form    10-K 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


May 31, 2021


February 28, 2021


May 31, 2020

Revenue

$

174



$

210



$

206


Cost of sales

60



58



63


Gross margin

114



152



143


Gross margin %

65.5

%


72.4

%


69.4

%

Operating expenses






Research and development

57



48



57


Selling, marketing and administration

73



92



90


Amortization

46



45



46


Impairment of goodwill





594


Impairment of long-lived assets



22




Debentures fair value adjustment

(4)



258



1



172



465



788


Operating loss

(58)



(313)



(645)


Investment loss, net

(2)






Loss before income taxes

(60)



(313)



(645)


Provision for (recovery of) income taxes

2



2



(9)


Net loss

$

(62)



$

(315)



$

(636)


Loss per share






Basic

$

(0.11)



$

(0.56)



$

(1.14)


Diluted

$

(0.11)



$

(0.56)



$

(1.14)








Weighted-average number of common shares outstanding (000s)






Basic

567,358



566,089



557,839


Diluted

567,358



566,089



557,839


Total common shares outstanding (000s)

566,248



565,505



555,623



BlackBerry Limited

Incorporated under the Laws of Ontario

(United States dollars, in millions) (unaudited)

Consolidated Balance Sheets






As at



May 31, 2021


February 28, 2021

Assets





Current





Cash and cash equivalents


$

339



$

214


Short-term investments


364



525


Accounts receivable, net of allowance of $9 and $10, respectively


153



182


Other receivables


26



25


Income taxes receivable


10



10


Other current assets


61



50




953



1,006


Restricted cash equivalent and restricted short-term investments


29



28


Long-term investments


37



37


Other long-term assets


15



16


Operating lease right-of-use assets, net


59



63


Property, plant and equipment, net


46



48


Goodwill


850



849


Intangible assets, net


732



771




$

2,721



$

2,818


Liabilities





Current





Accounts payable


$

22



$

20


Accrued liabilities


164



178


Income taxes payable


8



6


Deferred revenue, current


208



225




402



429


Deferred revenue, non-current


57



69


Operating lease liabilities


85



90


Other long-term liabilities


6



6


Long-term debentures


715



720




1,265



1,314


Shareholders' equity





Capital stock and additional paid-in capital


2,834



2,823


Deficit


(1,368)



(1,306)


Accumulated other comprehensive loss


(10)



(13)




1,456



1,504




$

2,721



$

2,818


BlackBerry Limited

Incorporated under the Laws of Ontario

(United States dollars, in millions) (unaudited)

Consolidated Statements of Cash Flows


Three Months Ended


May 31, 2021


May 31, 2020

Cash flows from operating activities




Net loss

$

(62)



$

(636)


Adjustments to reconcile net loss to net cash used in operating activities:




Amortization

49



50


Stock-based compensation

7



13


Impairment of goodwill



594


Debentures fair value adjustment

(4)



1


Operating leases

(3)



(3)


Other

(3)



(1)


Net changes in working capital items




Accounts receivable, net of allowance

29



1


Other receivables

(1)



(6)


Income taxes receivable



(2)


Other assets

(6)




Accounts payable

2



15


Accrued liabilities

(14)



(18)


Income taxes payable

2



(7)


Deferred revenue

(29)



(32)


Net cash used in operating activities

(33)



(31)


Cash flows from investing activities




Acquisition of long-term investments



(1)


Acquisition of property, plant and equipment

(2)



(1)


Acquisition of intangible assets

(6)



(8)


Acquisition of short-term investments

(209)



(299)


Proceeds on sale or maturity of restricted short-term investments

24




Proceeds on sale or maturity of short-term investments

369



270


Net cash provided by (used in) investing activities

176



(39)


Cash flows from financing activities




Issuance of common shares

4



4


Net cash provided by financing activities

4



4


Effect of foreign exchange gain on cash, cash equivalents, restricted cash, and restricted cash
equivalents

3




Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents
during the period

150



(66)


Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of period

218



426


Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of period

$

368



$

360



As at

May 31, 2021


February 28, 2021

Cash and cash equivalents

$

339



$

214


Restricted cash equivalents and restricted short-term investments

29



28


Short-term investments

364



525


Long-term investments

37



37



$

769



$

804


Reconciliations of the Company's Segment Results to the Consolidated Results

The Company reports segment information in accordance with U.S. GAAP Accounting Standards Codification Section 280 based on the "management" approach. The management approach designates the internal reporting used by the Chief Operating Decision Maker for making decisions and assessing performance of the Company's reportable operating segments.

The following table reconciles the Company's segment results for the three months ended May 31, 2021 to consolidated U.S. GAAP results:


For the Three Months Ended May 31, 2021


(in millions) (unaudited)


Cyber Security


IoT

Licensing and
Other

Segment Totals


Reconciling
Items


Consolidated
U.S. GAAP

Revenue

$

107



$

43



$

24



$

174



$



$

174


Cost of sales (1)

46



7



6



59



1



60


Gross margin

$

61



$

36



$

18



$

115



$

(1)



$

114


Operating expenses









172



172


Investment loss, net









2



2


Loss before income taxes











$

(60)


______________________________

(1)

See "Reconciliations of Non-GAAP Measures with the Nearest Comparable U.S. GAAP Measures" for a reconciliation of selected U.S. GAAP-based measures to adjusted measures for the three months ended May 31, 2021.

The following table reconciles the Company's segment results for the three months ended May 31, 2020 to consolidated U.S. GAAP results:


For the Three Months Ended May 31, 2020


(in millions) (unaudited)


Cyber Security


IoT

Licensing and
Other

Segment Totals


Reconciling
Items


Consolidated
U.S. GAAP

Revenue

$

119



$

29



$

58



$

206



$



$

206


Cost of sales (1)

47



6



8



61



2



63


Gross margin

$

72



$

23



$

50



$

145



$

(2)



$

143


Operating expenses









788



788


Loss before income taxes











$

(645)


______________________________


(1)

See "Reconciliations of Non-GAAP Measures with the Nearest Comparable U.S. GAAP Measures" for a reconciliation of selected U.S. GAAP-based measures to adjusted measures for the three months ended May 31, 2020.

Reconciliations of Non-GAAP Measures with the Nearest Comparable U.S. GAAP Measures

In the Company's internal reports, management evaluates the performance of the Company's business on a non-GAAP basis by excluding the impact of certain items below from the Company's U.S. GAAP financial results. The Company believes that these non-GAAP measures provide management, as well as readers of the Company's financial statements, with a consistent basis for comparison across accounting periods and is useful in helping management and readers understand the Company's operating results and underlying operational trends. In the first quarter of fiscal 2022, the Company discontinued its use of software deferred revenue acquired and software deferred commission acquired adjustments in its non-GAAP financial measures due to the quantitative decline in the adjustments over time. For purposes of comparability, the Company's non-GAAP financial measures for the three months ended May 31, 2020 have been updated to conform to the current year's presentation.

Readers are cautioned that adjusted gross margin, adjusted gross margin percentage, adjusted operating expense, adjusted operating loss, adjusted EBITDA, adjusted operating loss margin percentage, adjusted EBITDA margin percentage, adjusted net income (loss), adjusted income (loss) per share, adjusted research and development expense, adjusted selling, marketing and administrative expense and adjusted amortization expense and similar measures do not have any standardized meaning prescribed by U.S. GAAP and are therefore unlikely to be comparable to similarly titled measures reported by other companies. These non-GAAP financial measures should be considered in the context of the U.S. GAAP results.

Reconciliation of non-GAAP based measures with most directly comparable U.S. GAAP based measures for the three months ended May 31, 2021 and May 31, 2020

A reconciliation of the most directly comparable U.S. GAAP financial measures for the three months ended May 31, 2021 and May 31, 2020 to adjusted financial measures is reflected in the tables below:

For the Three Months Ended (in millions)


May 31, 2021


May 31, 2020

Gross margin


$

114



$

143


Stock compensation expense


1



2


Adjusted gross margin


$

115



$

145







Gross margin %


65.5

%


69.4

%

Stock compensation expense


0.6

%


1.0

%

Adjusted gross margin %


66.1

%


70.4

%

Reconciliation of operating expense for the three months ended May 31, 2021 and May 31, 2020 to adjusted operating expense is reflected in the tables below:

For the Three Months Ended (in millions)


May 31, 2021


May 31, 2020

Operating expense


$

172



$

788


Restructuring charges




1


Stock compensation expense


6



12


Debenture fair value adjustment


(4)



1


Acquired intangibles amortization


32



33


Goodwill impairment charge




594


Adjusted operating expense


$

138



$

147


Reconciliation of U.S. GAAP net loss and U.S. GAAP basic loss per share for the three months ended May 31, 2021 and May 31, 2020 to adjusted net income (loss) and adjusted basic earnings (loss) per share is reflected in the tables below:

For the Three Months Ended (in millions, except per share amounts)


May 31, 2021


May 31, 2020





Basic
earnings
(loss) per
share




Basic
earnings
(loss) per
share

Net loss


$

(62)



$(0.11)


$

(636)



$(1.14)

Restructuring charges






1




Stock compensation expense


7





14




Debenture fair value adjustment


(4)





1




Acquired intangibles amortization


32





33




Goodwill impairment charge






594




Adjusted net income (loss)


$

(27)



$(0.05)


$

7



$0.01

Reconciliation of U.S. GAAP research and development, selling, marketing and administration, and amortization expense for the three months ended May 31, 2021 and May 31, 2020 to adjusted research and development, selling, marketing and administration, and amortization expense is reflected in the tables below:

For the Three Months Ended (in millions)


May 31, 2021


May 31, 2020

Research and development


$

57



$

57


Stock compensation expense


2



3


Adjusted research and development


$

55



$

54







Selling, marketing and administration


$

73



$

90


Restructuring charges




1


Stock compensation expense


4



9


Adjusted selling, marketing and administration


$

69



$

80







Amortization


$

46



$

46


Acquired intangibles amortization


32



33


Adjusted amortization


$

14



$

13


Adjusted operating loss, adjusted EBITDA, adjusted operating loss margin percentage and adjusted EBITDA margin percentage for the three months ended May 31, 2021 and May 31, 2020 are reflected in the table below.

For the Three Months Ended (in millions)


May 31, 2021


May 31, 2020

Operating loss


$

(58)



$

(645)


Non-GAAP adjustments to operating loss





Restructuring charges




1


Stock compensation expense


7



14


Debenture fair value adjustment


(4)



1


Acquired intangibles amortization


32



33


Goodwill impairment charge




594


Total non-GAAP adjustments to operating loss


35



643


Adjusted operating loss


(23)



(2)


Amortization


49



50


Acquired intangibles amortization


(32)



(33)


Adjusted EBITDA


$

(6)



$

15







Revenue


$

174



$

206


Adjusted operating loss margin % (1)


(13%)



(1%)


Adjusted EBITDA margin % (2)


(3%)



7%


______________________________

(1)

Adjusted operating loss margin % is calculated by dividing adjusted operating loss by revenue

(2)

Adjusted EBITDA margin % is calculated by dividing adjusted EBITDA by revenue

Cision View original content to download multimedia: http://www.prnewswire.com/news-releases/blackberry-reports-first-quarter-fiscal-year-2022-results-301319835.html

SOURCE BlackBerry Limited

News Provided by PR Newswire via QuoteMedia

Semtech Corporation to Acquire Sierra Wireless

Creating a comprehensive IoT platform to enable the transformation to a smarter, more sustainable planet

  • Brings together the ultra-low power benefits of LoRa® with higher bandwidth capabilities of cellular for easy to use, interoperable solutions that enable innovation and growth for IoT globally
  • Expected to approximately double Semtech annual revenue and add greater than US$100 million of high margin IoT Cloud services recurring revenues
  • Expected to expand Semtech's IoT SAM by approximately 10x to US$10 billion by 2027
  • Expected to be immediately accretive to Semtech's non-GAAP EPS before synergies and generate US$40 million of run-rate operational synergies within 12-18 months post-close

Semtech Corporation (Nasdaq: SMTC), a leading global supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms, and Sierra Wireless, Inc. (Nasdaq: SWIR) (TSX: SW), a world-renowned Internet of Things (IoT) solutions provider, today announced a definitive agreement under which Semtech will acquire all outstanding shares of Sierra Wireless for US$31 per share in an all-cash transaction representing a total enterprise value of approximately US$1.2 billion, subject to customary closing conditions. The acquisition will significantly expand Semtech's addressable market and is expected to approximately double Semtech's annual revenue and create a strong and diverse portfolio of connectivity solutions for the growing IoT market, making it easier for customers to find innovative end to end solutions for any segment. The deal is also expected to be immediately accretive to Semtech's non-GAAP EPS before synergies and generate US$40 million of run-rate operational synergies within 12-18 months post-transaction close.

News Provided by Business Wire via QuoteMedia

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Sierra Wireless Announces Preliminary Second Quarter 2022 Financial Results

Sierra Wireless, Inc. (NASDAQ: SWIR) (TSX: SW) today reported preliminary financial results for its second quarter of 2022. All results are reported in U.S. dollars and are prepared in accordance with the United States generally accepted accounting principles ("GAAP"), except as otherwise indicated below.

For the second quarter of 2022, preliminary revenues are expected to be between $185 million and $189 million. Adjusted EBITDA* is expected to be between $21 million and $23 million, as compared to first quarter 2022 adjusted EBITDA* of $15.8 million.

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Sierra Wireless Confirms Discussions Regarding a Potential Transaction with Semtech

Sierra Wireless, Inc. (NASDAQ: SWIR) (TSX: SW) today confirmed that it has engaged in advanced discussions regarding a potential transaction with Semtech Corporation (NASDAQ: SMTC) at a price of US$31 per share.

No assurance can be given that the Company will determine to continue such discussions or enter into any definitive agreement regarding any transaction or, if executed, whether any such transaction would be consummated. The Company does not intend to make any further press release or announcement regarding these matters unless and until it enters into a binding, definitive agreement with respect thereto.

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BlackBerry Supports Aerospace and Defense Market with new Future Airborne Capability Environment Conformance Certification

New Accreditation Enables BlackBerry QNX to More Rapidly Deploy Safe and Secure Software for Mission-Critical Systems

BlackBerry Limited (NYSE: BB; TSX: BB) today announced its QNX ® Software Development Platform 7.1 has achieved conformance to the latest Future Airborne Capability Environment (FACE™) technical standard as a General Purpose Profile Unit of Conformance (UoC), enabling developers to rapidly deploy safe and secure software solutions based on the BlackBerry ® QNX ® platform to deliver competitive and cost effective defense vehicle capabilities.

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NETA AUTO selects BlackBerry QNX to Power the NETA S, Next-Generation EV Sedan for the Chinese Market

BlackBerry Limited (NYSE: BB; TSX: BB) and HOZON NEW ENERGY AUTOMOBILE CO., LTD. (HOZON) today announced that NETA AUTO, China's EV brand owned by HOZON, has selected BlackBerry QNX technology to power its soon-to-be-produced futuristic sports sedan, the NETA S . The deployment will ensure the functional safety, cybersecurity and reliability of the vehicle's critical systems while providing users with an engaging, immersive, and digital-first driving experience.

BlackBerry Logo Black (PRNewsfoto/Blackberry Limited)

As part of the agreement, the NETA S will use the BlackBerry QNX® Neutrino® RTOS and QNX® Hypervisor for the vehicle's new intelligent technology cockpit, the 'NETA SPACE'. In addition, NETA AUTO's full-stack NETA PILOT 3.0 intelligent ADAS technology will also feature the QNX® OS for Safety , helping realize intelligent assisted driving in multiple scenarios.

"We are pleased to partner with NETA AUTO to create a next-generation digital cockpit system and intelligent driver assistance system for the NETA S. Since its inception, NETA AUTO has always pursued the development of high-quality vehicles featuring both innovation and technology," said Dhiraj Handa , VP, Asia-Pacific , BlackBerry Technology Solutions. "BlackBerry is pleased to empower China's new energy automotive brands with our latest technologies, helping NETA AUTO to expand its footprint for the future of safe & secure mobility."

"The NETA S is a representative of NETA AUTO's level of technical strength and is dedicated to bringing the sedan to millions of homes with new levels of safety, security, comfort & connectivity. BlackBerry is the industry leader in automotive embedded systems, providing us with a safety-certified software foundation, " said Zhang Qi, Executive Vice President of Intelligent Institution, Neta Auto. "In the future, NETA AUTO will continue to collaborate with BlackBerry to bring more convenient, enriched and intelligent automotive life experiences to our customers."

The NETA S has a digital design style that fully demonstrates the power and athleticism expected of a sports sedan. The interior of the model features a stunning advanced intelligent cockpit with a large 17.6-inch central touchscreen, allowing the driver to receive important information via the minimalist display located behind the steering wheel or from the AR head-up display. Additionally, the front passenger also has an exclusive 12.3-inch passenger infotainment screen. Additional highlights of the NETA S include heated and ventilated massage seats, as well as headrest speakers, with a further 21 speakers installed throughout the car to provide an enjoyable acoustics experience for all passengers.

The NETA S is armed with the 3rd Generation Snapdragon Automotive Cockpit Platform and the highly reliable BlackBerry QNX Neutrino RTOS and QNX Hypervisor, which allows for scalability and flexibility in its intelligent NETA SPACE . The QNX Hypervisor can consolidate multiple systems with mixed-criticality and different operating environments onto a single hardware platform, effectively reducing both the model's initial development and long-term costs of ownership, while still ensuring industry-leading safety and security.

About BlackBerry

BlackBerry (NYSE: BB; TSX: BB) provides intelligent security software and services to enterprises and governments around the world. The company secures more than 500M endpoints including 215M vehicles. Based in Waterloo, Ontario , the company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety, and data privacy solutions, and is a leader in the areas of endpoint security, endpoint management, encryption, and embedded systems.  BlackBerry's vision is clear - to secure a connected future you can trust.

BlackBerry. Intelligent Security. Everywhere.

For more information, visit BlackBerry.com and follow @BlackBerry.

Trademarks, including but not limited to BLACKBERRY and EMBLEM Design are the trademarks or registered trademarks of BlackBerry Limited, and the exclusive rights to such trademarks are expressly reserved. All other trademarks are the property of their respective owners. BlackBerry is not responsible for any third-party products or services.

About HOZON New Energy Automobile Co., Ltd.

HOZON is an innovation-drive tech company that integrates the hardware products and software services based on the R&D innovation, intelligent manufacturing and multi-channel sales service. NETA AUTO, a car brand affiliated to HOZON. NETA AUTO's vision is to "make high-quality intelligent NEVs available for all". It shoulders the responsibility of breaking the norm to make travel more comfortable with innovative technologies and operates with the aim to be a popularizer of intelligent vehicles. Focusing on products and advanced technologies, NETA AUTO is dedicated to promoting continuous evolvement of electric vehicles and playing a leading role in future technology development trends.

NETA AUTO's core technologies are derived from Yangtze Delta Region Institute of Tsinghua University, Zhejiang . Currently, the company has cultivated competitive advantages in auto intelligent cockpit, which is called NETA SPACE , autonomous driving, technologies of electrical machine, battery, and electrical control system, etc. and accumulatively applied for over 1,000 patents.

In June 2022 , NETA AUTO delivered 13,157 vehicles, with an increase of approximately 156% YOY, an increase of approximately 20% from May 2022 , achieving a sales volume increase for 24 consecutive months since July 2020 . Specifically, the sales volumes in June 2022 of NETA V and NETA U PRO were 9,147 units and 4,010 units respectively. Moreover, the total sales volume of NETA AUTO in the first half of 2022 was 63,131 units, an increase of approximately 199% from the same period last year.

As a leading force among Chinese NEV manufacturers, NETA AUTO has further increased market share of "Made in China " products in the intelligent manufacturing and new energy field, and strengthened Chinese brand value around the globe.

Media Contact:
BlackBerry Media Relations
+1 (519) 597-7273
mediarelations@BlackBerry.com

NETA Auto Media Relations
+86-18501002778
huxiaoqian@hozonauto.com

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SOURCE BlackBerry Limited

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