Emerging Technology

- Total company non-GAAP revenue of $224 million ; total company GAAP revenue of $218 million .

- Non-GAAP earnings per basic and diluted share of $0.02 ; GAAP loss per basic and diluted share of $0.23 .

- Net cash generated from operating activities of $29 million .

BlackBerry Limited (NYSE: BB; TSX: BB) today reported financial results for the three months ended November 30, 2020 (all figures in U.S. dollars and U.S. GAAP, except where otherwise indicated).

"We are pleased to report solid financial results this quarter, delivering sequential software and services revenue growth in line with our outlook.  This quarter we delivered exciting new technology releases, especially our AI-driven BlackBerry® Cyber Suite.  We also made significant progress with partnerships," Said John Chen , Executive Chairman & CEO, BlackBerry. "Our recently-announced multi-year, exclusive partnership with AWS to co-develop and co-market BlackBerry IVY, is both strategic and unique.  This new platform will create a recurring-revenue business, bringing together BlackBerry's extensive experience and footprint in embedded automotive with AWS' unparalleled cloud reach, consumer experience and interface."

Third Quarter Fiscal 2021 Financial Highlights

  • Total company non-GAAP revenue for the third quarter of fiscal 2021 was $224 million .  Total company GAAP revenue for the third quarter of fiscal 2021 was $218 million .
  • Software and Services non-GAAP revenue for the third quarter of fiscal 2021 was $168 million .  Software and Services GAAP revenue for the third quarter of fiscal 2021 was $162 million .
  • Non-GAAP gross margin was 70% and GAAP gross margin was 68%.
  • Non-GAAP operating earnings were $14 million .  GAAP operating loss was $127 million , primarily due to fair value adjustments to long-term debt.
  • Non-GAAP earnings per share was $0.02 (basic and diluted).  GAAP net loss per share was $0.23 (basic and diluted).
  • Total cash, cash equivalents, short-term and long-term investments were $757 million .
  • Net cash generated from operating activities was $29 million .

Third Quarter Business Highlights & Strategic Announcements

  • AWS and BlackBerry join forces to accelerate innovation with new intelligent vehicle data platform, BlackBerry IVY.
  • BlackBerry QNX has design wins with 19 of the top 25 Electric Vehicle OEMs, who together have 61% of EV market.
  • BlackBerry unveils industry's first Unified Endpoint Security (UES) solution for AI-powered Cybersecurity, BlackBerry Cyber Suite.  Cyber Suite will Integrate with all leading UEMs, including Microsoft Intune.
  • BlackBerry launches industry's first user behavior AI technology for Cybersecurity, BlackBerry Persona® Desktop.
  • BlackBerry launches new AI-powered Mobile Threat Defense (MTD) solution to protect against mobile malware and phishing attacks, BlackBerry® Protect Mobile.
  • BlackBerry® Unified Endpoint Manager (UEM) software has achieved National Security Agency (NSA) Commercial Solutions for Classified Program (CSfC) approval.
  • Announced new global BlackBerry Partner Program that combines the award-winning BlackBerry Enterprise Partner Program and BlackBerry Cylance Partner Programs into one unified comprehensive structure.
  • BlackBerry uncovered massive hack-for-hire group, BAHAMUT, targeting governments, businesses, human rights groups and influential individuals.
  • Launched QNX® OS for Safety 2.2, a new release of the trusted, safety-certified operating system certified by the independent auditors at TÜV Rheinland to IEC 61508 SIL3 (Industrial), ISO 26262 ASIL D (Automotive), and IEC 62304 Class C (Medical devices) functional safety standards.

Outlook
BlackBerry will provide fiscal year 2021 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. Slides relating to the recent BlackBerry IVY announcement will be shown during the live webcast.  These slides will be made available on the BlackBerry.com/Investors website at 5:30 p.m. ET .
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 #7510319 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 175M cars on the road today.  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 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 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 particularly in light of COVID-19, 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 outbreak of the COVID-19 coronavirus; 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; 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 revenues from intellectual property rights; litigation against BlackBerry;  the substantial asset risk faced by BlackBerry, including the potential for charges related to its long-lived assets and goodwill; BlackBerry's indebtedness; acquisitions, divestitures and other business initiatives;  BlackBerry's products and services being dependent upon interoperability with rapidly changing systems provided by third parties; BlackBerry being found to have infringed on the intellectual property rights of others; the use and management of user data and personal information; network disruptions or other business interruptions; government regulations applicable to BlackBerry's products and services, including products containing encryption capabilities; foreign operations, including fluctuations in foreign currencies; the failure of BlackBerry's suppliers, subcontractors, channel partners and representatives to use acceptable ethical business practices or comply with applicable laws; BlackBerry's ability to generate revenue and profitability through the licensing of security software and services or the BlackBerry brand to device manufacturers; BlackBerry's reliance on third parties to manufacture and repair its hardware products; fostering an ecosystem of third-party application developers; regulations regarding health and safety, hazardous materials usage and conflict minerals, and to product certification risks; tax provision changes, the adoption of new tax legislation or exposure to additional tax liabilities; the fluctuation of BlackBerry's quarterly revenue and operating results; the volatility of the market price of BlackBerry's common shares; and adverse economic and geopolitical 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


Three Months Ended


Nine Months Ended


November 30,

2020


August 31,

2020


November 30,

2019


November 30,

2020


November 30,

2019

Revenue

$

218



$

259



$

267



$

683



$

758


Cost of sales

69



60



69



192



207


Gross margin

149



199



198



491



551


Gross margin %

68.3

%


76.8

%


74.2

%


71.9

%


72.7

%

Operating expenses










Research and development

53



57



66



167



199


Selling, marketing and administration

83



79



129



252



380


Amortization

45



46



49



137



146


Impairment of goodwill







594




Impairment of long-lived assets



21



3



21



5


Debentures fair value adjustment

95



18



(20)



114



(71)



276



221



227



1,285



659


Operating loss

(127)



(22)



(29)



(794)



(108)


Investment income (loss), net

(1)



(5)



(1)



(6)



2


Loss before income taxes

(128)



(27)



(30)



(800)



(106)


Provision for (recovery of) income taxes

2



(4)



2



(11)



5


Net loss

$

(130)



$

(23)



$

(32)



$

(789)



$

(111)


Loss per share










Basic

$

(0.23)



$

(0.04)



$

(0.06)



$

(1.41)



$

(0.20)


Diluted

$

(0.23)



$

(0.04)



$

(0.07)



$

(1.41)



$

(0.27)












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










Basic

562,443



558,882



554,585



559,732



552,931


Diluted

562,443



558,882



615,085



559,732



613,431


Total common shares outstanding (000s)

562,016



556,468



552,132



562,016



552,132


BlackBerry Limited

Incorporated under the Laws of Ontario

(United States dollars, in millions) (unaudited)


Consolidated Balance Sheets


As at


November 30, 2020


February 29, 2020

Assets




Current




Cash and cash equivalents

$

223



$

377


Short-term investments

451



532


Accounts receivable, net of allowance of $13 and $9, respectively

212



215


Other receivables

21



14


Income taxes receivable

10



6


Other current assets

54



52



971



1,196


Restricted cash and cash equivalents

50



49


Long-term investments

33



32


Other long-term assets

19



65


Operating lease right-of-use assets, net

91



124


Property, plant and equipment, net

54



70


Goodwill

849



1,437


Intangible assets, net

803



915



$

2,870



$

3,888


Liabilities




Current




Accounts payable

$

29



$

31


Accrued liabilities

173



202


Income taxes payable

8



18


Debentures



606


Deferred revenue, current

217



264



427



1,121


Deferred revenue, non-current

75



109


Operating lease liabilities

99



120


Other long-term liabilities

7



9


Long-term debentures

459





1,067



1,359


Shareholders' equity




Capital stock and additional paid-in capital

2,803



2,760


Deficit

(991)



(198)


Accumulated other comprehensive loss

(9)



(33)



1,803



2,529



$

2,870



$

3,888


BlackBerry Limited

Incorporated under the Laws of Ontario

(United States dollars, in millions) (unaudited)


Consolidated Statements of Cash Flows


Nine Months Ended


November 30, 2020


November 30, 2019

Cash flows from operating activities




Net loss

$

(789)



$

(111)


Adjustments to reconcile net loss to net cash provided by (used in) operating activities:




Amortization

149



160


Stock-based compensation

33



46


Impairment of goodwill

594




Impairment of long-lived assets

21



5


Non-cash consideration received from contracts with customers



(8)


Debentures fair value adjustment

114



(71)


Operating leases

(4)



(12)


Other

(4)



11


Net changes in working capital items




Accounts receivable, net

(1)



17


Other receivables

(7)



6


Income taxes receivable

(4)



(1)


Other assets

51



3


Accounts payable

(2)



(21)


Accrued liabilities

(27)



(24)


Income taxes payable

(13)



2


Deferred revenue

(81)



(10)


Net cash provided by (used in) operating activities

30



(8)


Cash flows from investing activities




Acquisition of long-term investments

(1)



(1)


Acquisition of property, plant and equipment

(5)



(9)


Acquisition of intangible assets

(23)



(24)


Business acquisitions, net of cash acquired



1


Acquisition of short-term investments

(770)



(829)


Proceeds on sale or maturity of short-term investments

851



830


Net cash provided by (used in) investing activities

52



(32)


Cash flows from financing activities




Issuance of common shares

10



8


Payment of finance lease liability

(1)



(2)


Repurchase of 3.75% Debentures

(610)




Issuance of 1.75% Debentures

365




Net cash provided by (used in) financing activities

(236)



6


Effect of foreign exchange gain (loss) on cash, cash equivalents, restricted cash, and restricted cash equivalents

1



(1)


Net decrease in cash, cash equivalents, restricted cash, and restricted cash equivalents during the period

(153)



(35)


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

426



582


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

$

273



$

547



As at

November 30, 2020


February 29, 2020

Cash and cash equivalents

$

223



$

377


Restricted cash and cash equivalents

50



49


Short-term investments

451



532


Long-term investments

33



32



$

757



$

990


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 readers of the Company's financial statements with a consistent basis for comparison across accounting periods and is useful in helping readers understand the Company's operating results and underlying operational trends.

Readers are cautioned that adjusted revenue, adjusted gross margin, adjusted gross margin percentage, adjusted operating expense, adjusted operating income, adjusted EBITDA, adjusted operating income 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, adjusted amortization expense and free cash flow 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 November 30, 2020 and November 30, 2019

A reconciliation of the most directly comparable U.S. GAAP financial measures for the three months ended November 30, 2020 and November 30, 2019 to adjusted financial measures is reflected in the tables below:

For the Three Months Ended (in millions)


November 30, 2020


November 30, 2019

Revenue


$

218



$

267


Software deferred revenue acquired (1)


6



13


Adjusted revenue


$

224



$

280







Gross margin


$

149



$

198


Software deferred revenue acquired (1)


6



13


Restructuring charges




3


Stock compensation expense


1



1


Adjusted gross margin


$

156



$

215







Gross margin %


68.3

%


74.2

%

Software deferred revenue acquired (1)


0.9

%


1.1

%

Restructuring charges


%


1.1

%

Stock compensation expense


0.4

%


0.4

%

Adjusted gross margin %


69.6

%


76.8

%

______________________________

(1) See Reconciliation of U.S. GAAP Software and Services revenue to adjusted Software and Services revenue

Reconciliation of operating expense for the three months ended November 30, 2020 and November 30, 2019 to adjusted operating expense is reflected in the tables below:


For the Three Months Ended (in millions)


November 30, 2020


November 30, 2019

Operating expense


$

276



$

227


Restructuring charges




4


Stock compensation expense


11



14


Debenture fair value adjustment


95



(20)


Software deferred commission expense acquired


(4)



(4)


Acquired intangibles amortization


32



35


LLA impairment charge




3


Adjusted operating expense


$

142



$

195


Reconciliation of U.S. GAAP net loss and U.S. GAAP basic loss per share for the three months ended November 30, 2020 and November 30, 2019 to adjusted net income and adjusted basic earnings per share is reflected in the tables below:

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


November 30, 2020


November 30, 2019





Basic

earnings

(loss) per

share




Basic

earnings

(loss) per

share

Net loss


$

(130)



$(0.23)


$

(32)



$(0.06)

Software deferred revenue acquired


6





13




Restructuring charges






7




Stock compensation expense


12





15




Debenture fair value adjustment


95





(20)




Software deferred commission expense acquired


(4)





(4)




Acquired intangibles amortization


32





35




LLA impairment charge






3




Adjusted net income


$

11



$0.02


$

17



$0.03

Reconciliation of U.S. GAAP Software and Services revenue for the three months ended November 30, 2020 and November 30, 2019 to adjusted Software and Services revenue is reflected in the tables below:

For the Three Months Ended (in millions)


November 30, 2020


November 30, 2019

Software and Services Revenue


$

162



$

185


Software deferred revenue acquired


6



13


Adjusted Software and Services revenue


$

168



$

198


Reconciliation of U.S. GAAP research and development, selling, marketing and administration, and amortization expense for the three months ended November 30, 2020 and November 30, 2019 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)


November 30, 2020


November 30, 2019

Research and development


$

53



$

66


Stock compensation expense


3



4


Adjusted research and development


$

50



$

62







Selling, marketing and administration


$

83



$

129


Restructuring charges




4


Software deferred commission expense acquired


(4)



(4)


Stock compensation expense


8



10


Adjusted selling, marketing and administration


$

79



$

119







Amortization


$

45



$

49


Acquired intangibles amortization


32



35


Adjusted amortization


$

13



$

14


Adjusted operating income, adjusted EBITDA, adjusted operating income margin percentage and adjusted EBITDA margin percentage for the three months ended November 30, 2020 and November 30, 2019 are reflected in the table below.

For the Three Months Ended (in millions)


November 30, 2020


November 30, 2019

Operating loss


$

(127)



$

(29)


Non-GAAP adjustments to operating loss





Software deferred revenue acquired


6



13


Restructuring charges




7


Stock compensation expense


12



15


Debenture fair value adjustment


95



(20)


Software deferred commission expense acquired


(4)



(4)


Acquired intangibles amortization


32



35


LLA impairment charge




3


Total non-GAAP adjustments to operating loss


141



49


Adjusted operating income


14



20


Amortization


49



53


Acquired intangibles amortization


(32)



(35)


Adjusted EBITDA


$

31



$

38







Adjusted revenue (per above)


$

224



$

280


Adjusted operating income margin % (1)


6%



7%


Adjusted EBITDA margin % (2)


14%



14%


______________________________

(1) Adjusted operating income margin % is calculated by dividing adjusted operating income by adjusted revenue

(2) Adjusted EBITDA margin % is calculated by dividing adjusted EBITDA by adjusted revenue

Reconciliation of non-GAAP based measures with most directly comparable U.S. GAAP based measures for the nine months ended November 30, 2020 and November 30, 2019

A reconciliation of the most directly comparable U.S. GAAP financial measures for nine months ended November 30, 2020 and November 30, 2019 to adjusted financial measures is reflected in the tables below:

For the Nine Months Ended (in millions)


November 30, 2020


November 30, 2019

Revenue


$

683



$

758


Software deferred revenue acquired (1)


21



50


Adjusted revenue


$

704



$

808







Gross margin


$

491



$

551


Software deferred revenue acquired (1)


21



50


Restructuring charges




5


Stock compensation expense


4



3


Adjusted gross margin


$

516



$

609







Gross margin %


71.9

%


72.7

%

Software deferred revenue acquired (1)


0.8

%


1.6

%

Restructuring charges


%


0.7

%

Stock compensation expense


0.6

%


0.4

%

Adjusted gross margin %


73.3

%


75.4

%






Operating expense


$

1,285



$

659


Restructuring charges


2



4


Stock compensation expense


31



43


Debenture fair value adjustment


114



(71)


Software deferred commission expense acquired


(10)



(13)


Acquired intangibles amortization


97



106


Business acquisition and integration costs




3


Goodwill impairment charge


594




LLA impairment charge


21



5


Adjusted operating expense


$

436



$

582


______________________________

(1) See Reconciliation of U.S GAAP Software and Services revenue to adjusted Software and Service revenue

Reconciliation of U.S. GAAP net loss and U.S. GAAP basic loss per share for the nine months ended November 30, 2020 and November 30, 2019 to the adjusted net income and basic earnings per share is reflected in the tables below:

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


November 30, 2020


November 30, 2019





Basic

earnings

(loss) per

share




Basic

earnings

(loss) per

share

Net loss


$

(789)



$

(1.41)



$

(111)



$

(0.20)


Software deferred revenue acquired


21





50




Restructuring charges


2





9




Stock compensation expense


35





46




Debenture fair value adjustment


114





(71)




Software deferred commission expense acquired


(10)





(13)




Acquired intangibles amortization


97





106




Business acquisition and integration costs






3




Goodwill impairment charge


594








LLA impairment charge


21





5




Acquisition valuation allowance






(1)




Adjusted net income


$

85



$0.15


$

23



$0.04

Reconciliation of U.S. GAAP Software and Services revenue for the nine months ended November 30, 2020 and November 30, 2019 to adjusted Software and Services revenue is reflected in the tables below:

For the Nine Months Ended (in millions)


November 30, 2020


November 30, 2019

Software and Services Revenue


$

461



$

521


Software deferred revenue acquired


21



50


Adjusted Software and Services Revenue


$

482



$

571


Reconciliation of U.S. GAAP research and development, selling, marketing and administration, and amortization expense for the nine months ended November 30, 2020 and November 30, 2019 to adjusted research and development, selling, marketing and administration, and amortization expense is reflected in the tables below:

For the Nine Months Ended (in millions)


November 30, 2020


November 30, 2019

Research and development


$

167



$

199


Stock compensation expense


8



10


Adjusted research and development


$

159



$

189







Selling, marketing and administration


$

252



$

380


Restructuring charges


2



4


Software deferred commission expense acquired


(10)



(13)


Stock compensation expense


23



33


Business acquisition and integration costs




3


Adjusted selling, marketing and administration


$

237



$

353







Amortization


$

137



$

146


Acquired intangibles amortization


97



106


Adjusted amortization


$

40



$

40


Adjusted operating income, adjusted EBITDA, adjusted operating income margin percentage and adjusted EBITDA margin percentage for the nine months ended November 30, 2020 and November 30, 2019 are reflected in the table below.

For the Nine Months Ended (in millions)


November 30, 2020


November 30, 2019

Operating loss


$

(794)



$

(108)


Non-GAAP adjustments to operating loss





Software deferred revenue acquired


21



50


Restructuring charges


2



9


Stock compensation expense


35



46


Debenture fair value adjustment


114



(71)


Software deferred commission expense acquired


(10)



(13)


Acquired intangibles amortization


97



106


Business acquisition and integration costs




3


Goodwill impairment charge


594




LLA impairment charge


21



5


Total non-GAAP adjustments to operating loss


874



135


Adjusted operating income


80



27


Amortization


149



160


Acquired intangibles amortization


(97)



(106)


Adjusted EBITDA


$

132



$

81







Adjusted revenue (per above)


$

704



$

808


Adjusted operating income margin % (1)


11

%


3

%

Adjusted EBITDA margin % (2)


19

%


10

%

______________________________

(1) Adjusted operating income margin % is calculated by dividing adjusted operating income by adjusted revenue

(2) Adjusted EBITDA margin % is calculated by dividing adjusted EBITDA by adjusted revenue

Cision View original content: http://www.prnewswire.com/news-releases/blackberry-reports-sequential-software-and-services-revenue-growth-non-gaap-profitability-and-positive-free-cash-flow-for-fiscal-2021-third-quarter-301195582.html

SOURCE BlackBerry Limited

News Provided by PR Newswire via QuoteMedia

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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