<p>黑莓（(TSE:BB)）已召开其第三季度财报电话会议。请继续阅读会议的主要亮点。</p>
<h3>享受 TipRanks Premium 50% 折扣，信心投资</h3>
<ul>
<li>解锁对冲基金级别的数据和强大的投资工具，帮助您做出更聪明、更精准的决策</li>
<li>通过最新的新闻和分析保持市场领先，使您的投资组合始终处于最大潜力的状态</li>
</ul>
<p>黑莓的财报电话会议对强劲的第三季度业绩表现出自信和乐观的语气</p>
<h2>创纪录的 QNX 收入凸显核心增长引擎</h2>
<p>黑莓的 QNX 部门是本季度的明星，创下了 6870 万美元的历史最高收入，同比增长 10%，超出预期。管理层强调，增长主要得益于更高的版权费，确认了 QNX 在黑莓转型故事中作为关键、持续收入引擎的地位。即使一些传统领域逐渐成熟，QNX 的表现也显示出其在汽车和其他关键任务应用中对嵌入式软件平台的强劲需求。</p>
<h2>盈利能力和现金流显示运营纪律</h2>
<p>除了收入增长，黑莓在盈利能力和现金生成方面也取得了显著改善。调整后的 EBITDA 达到 2870 万美元，转化为 20% 的稳健利润率，展示了改善的运营杠杆。1790 万美元的经营现金流是去年水平的三倍，表明成本控制更好，盈利转化为现金的效率更高。对于投资者而言，这些指标表明业务变得更加可持续，减少了对外部资金的依赖。</p>
<h2>尽管面临宏观逆风，安全通信收入仍超出预期</h2>
<p>安全通信也表现出色，收入达到 6700 万美元，超出指导的上限。管理层强调，这一成绩是在美国政府停摆相关干扰的情况下实现的，突显了黑莓安全通信产品的韧性和关键任务性质。该部门的强劲表现有助于公司收入基础的多样化，提供了额外的稳定性。</p>
<h2>FedRAMP 高级认证开启政府市场机遇</h2>
<p>一个关键的战略里程碑是黑莓获得了 FedRAMP 高级认证，这是一个严格的美国政府标准。该认证显著扩大了黑莓服务敏感政府工作负载的能力，管理层指出在本季度已经实现了实质性的扩展机会。对于股东而言，这为更深入地进入美国联邦市场打开了大门，一旦建立关系，该市场往往具有粘性和长期性。</p>
<h2>持续的 GAAP 盈利能力增强可信度</h2>
<p>黑莓的 GAAP 净收入同比改善 2420 万美元，达到 1370 万美元，标志着连续第三个季度实现 GAAP 盈利。对于那些关注公司在多年的转型过程中如何摆脱传统手机业务的投资者来说，这种一致性至关重要。持续的 GAAP 利润表明黑莓的软件聚焦模式不仅在增长，而且是在稳健的财务基础上实现的。</p>
<h2>上调全年指导反映管理层信心</h2>
<p>反映出强劲的季度表现，黑莓上调了全年指导。公司总收入的中点提高了 600 万美元，范围为 5.31 亿至 5.41 亿美元，而调整后的 EBITDA 指导提高了 750 万美元，范围为 9400 万至 1.04 亿美元。这一上调信号表明管理层对 QNX 和安全通信的信心日益增强，并暗示在财政年度最后一个季度，基本需求趋势仍然向好。</p>
<h2>安全通信面临艰难的同比比较</h2>
<p>尽管安全通信在本季度超出预期，但并非所有比较都是有利的。作为该部门组成部分的 SecuSmart，虽然环比增长，但由于与去年德国政府异常强劲的升级周期相比，同比下降。管理层将这一下降视为时机问题，而非结构性问题，表明需求仍然存在，但由于大型政府合同而出现波动。</p>
<h2>QNX 毛利率因资金转移而承压</h2>
<p>QNX 的毛利率同比下降两个百分点，仍然保持在 84% 的强劲水平。下降主要归因于去年来自加拿大战略创新基金的损益好处缺失，而非业务本身的恶化。对于投资者而言，信息是毛利率在软件标准下仍然很高，而适度的压缩更多是关于资金的光环，而非基本定价或成本压力。</p>
<h2>指导和前景指向稳健的第四季度势头</h2>
<p>管理层的前瞻性评论依然积极。黑莓预计第四季度总收入将在 1.38 亿至 1.48 亿美元之间，调整后的 EBITDA 在 2200 万至 3200 万美元之间，建立在已经超出指导上限的第三季度基础上。随着 QNX 达到创纪录水平，安全通信在宏观挑战下保持稳定，以及连续三个季度的 GAAP 盈利，公司正将自己定位为一个更可预测的软件和服务提供商。升级的全年前景强调了当前势头可以延续到财政年度剩余时间的观点。</p>
<p>总之，黑莓最新的财报电话会议描绘了一幅软件公司在多个方面获得进展的图景：创纪录的 QNX 收入、强劲的安全通信表现、改善的盈利能力和上调的指导。尽管存在一些同比疲软的领域和一些毛利率正常化，但整体语气乐观，管理层强调了持续增长、严谨执行和扩展的政府机会，这些都可能为关注该股票的投资者提供进一步的上行空间。</p>

黑莓

<p>黑莓公司第三季度的财报电话会议强调了创纪录的 QNX 收入为 6870 万美元，同比增长 10%，主要得益于更高的版权费。公司显示出盈利能力的改善，调整后的息税折旧摊销前利润（EBITDA）为 2870 万美元，经营现金流为 1790 万美元。尽管面临宏观经济压力，安全通信收入超出预期。黑莓获得了 FedRAMP 高等级认证，扩大了美国政府市场的机会。根据公认会计原则（GAAP），净收入改善至 1370 万美元，标志着持续盈利。全年业绩指引上调，反映出管理层对持续增长的信心</p>

<p>Blackberry ((TSE:BB)) has held its Q3 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>黑莓（(TSE:BB)）已召开其第三季度财报电话会议。请继续阅读会议的主要亮点。</p>
</div><h3>Claim 50% Off TipRanks Premium and Invest with Confidence</h3>
<div class="lb-trans"><h3>享受 TipRanks Premium 50% 折扣，信心投资</h3>
</div><ul>
<li>Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions</li>
<li>Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential</li>
</ul>
<div class="lb-trans"><ul>
<li>解锁对冲基金级别的数据和强大的投资工具，帮助您做出更聪明、更精准的决策</li>
<li>通过最新的新闻和分析保持市场领先，使您的投资组合始终处于最大潜力的状态</li>
</ul>
</div><p>BlackBerry’s Earnings Call Strikes Confident, Upbeat Tone on Strong Q3 Results</p>
<div class="lb-trans"><p>黑莓的财报电话会议对强劲的第三季度业绩表现出自信和乐观的语气</p>
</div><h2>Record QNX Revenue Underscores Core Growth Engine</h2>
<div class="lb-trans"><h2>创纪录的 QNX 收入凸显核心增长引擎</h2>
</div><p>BlackBerry’s QNX division was the star of the quarter, posting an all‑time record revenue of $68.7 million, up 10% year over year and ahead of expectations. Management highlighted that growth was driven largely by higher royalties, confirming QNX’s position as a critical, recurring-revenue engine at the heart of BlackBerry’s turnaround story. Even as some legacy areas mature, QNX’s performance signals strong demand for its embedded software platform in automotive and other mission‑critical applications.</p>
<div class="lb-trans"><p>黑莓的 QNX 部门是本季度的明星，创下了 6870 万美元的历史最高收入，同比增长 10%，超出预期。管理层强调，增长主要得益于更高的版权费，确认了 QNX 在黑莓转型故事中作为关键、持续收入引擎的地位。即使一些传统领域逐渐成熟，QNX 的表现也显示出其在汽车和其他关键任务应用中对嵌入式软件平台的强劲需求。</p>
</div><h2>Profitability and Cash Flow Show Operating Discipline</h2>
<div class="lb-trans"><h2>盈利能力和现金流显示运营纪律</h2>
</div><p>Beyond top‑line growth, BlackBerry delivered meaningful improvements in profitability and cash generation. Adjusted EBITDA came in at $28.7 million, translating into a solid 20% margin and showcasing improving operating leverage. Operating cash flow of $17.9 million was triple last year’s level, signaling better cost control and more efficient conversion of earnings into cash. For investors, these metrics suggest the business is becoming more sustainable and less dependent on external funding.</p>
<div class="lb-trans"><p>除了收入增长，黑莓在盈利能力和现金生成方面也取得了显著改善。调整后的 EBITDA 达到 2870 万美元，转化为 20% 的稳健利润率，展示了改善的运营杠杆。1790 万美元的经营现金流是去年水平的三倍，表明成本控制更好，盈利转化为现金的效率更高。对于投资者而言，这些指标表明业务变得更加可持续，减少了对外部资金的依赖。</p>
</div><h2>Secure Communications Revenue Beats Despite Macro Headwinds</h2>
<div class="lb-trans"><h2>尽管面临宏观逆风，安全通信收入仍超出预期</h2>
</div><p>Secure Communications also outperformed, generating $67 million in revenue and surpassing the upper end of guidance. Management emphasized that this was achieved despite disruptions related to the U.S. government shutdown, highlighting the resilience and mission‑critical nature of BlackBerry’s secure communications offerings. The strong showing from this segment helps diversify the company’s revenue base beyond QNX and provides added stability.</p>
<div class="lb-trans"><p>安全通信也表现出色，收入达到 6700 万美元，超出指导的上限。管理层强调，这一成绩是在美国政府停摆相关干扰的情况下实现的，突显了黑莓安全通信产品的韧性和关键任务性质。该部门的强劲表现有助于公司收入基础的多样化，提供了额外的稳定性。</p>
</div><h2>FedRAMP High Certification Unlocks Government Upside</h2>
<div class="lb-trans"><h2>FedRAMP 高级认证开启政府市场机遇</h2>
</div><p>A key strategic milestone was Ad hoc achieving FedRAMP High certification, a stringent U.S. government standard. This certification significantly expands BlackBerry’s ability to serve sensitive government workloads, and executives pointed to material expansion opportunities already realized in the quarter. For shareholders, this opens the door to deeper penetration of the U.S. federal market, which tends to be sticky and long‑lived once relationships are established.</p>
<div class="lb-trans"><p>一个关键的战略里程碑是黑莓获得了 FedRAMP 高级认证，这是一个严格的美国政府标准。该认证显著扩大了黑莓服务敏感政府工作负载的能力，管理层指出在本季度已经实现了实质性的扩展机会。对于股东而言，这为更深入地进入美国联邦市场打开了大门，一旦建立关系，该市场往往具有粘性和长期性。</p>
</div><h2>Consistent GAAP Profitability Bolsters Credibility</h2>
<div class="lb-trans"><h2>持续的 GAAP 盈利能力增强可信度</h2>
</div><p>BlackBerry’s GAAP net income improved by $24.2 million year over year to $13.7 million, marking the third straight quarter of GAAP profitability. This consistency matters for investors who have watched the company navigate a multiyear transition away from its legacy handset business. Sustained GAAP profits demonstrate that BlackBerry’s software‑focused model is not just growing but doing so on a solid financial footing.</p>
<div class="lb-trans"><p>黑莓的 GAAP 净收入同比改善 2420 万美元，达到 1370 万美元，标志着连续第三个季度实现 GAAP 盈利。对于那些关注公司在多年的转型过程中如何摆脱传统手机业务的投资者来说，这种一致性至关重要。持续的 GAAP 利润表明黑莓的软件聚焦模式不仅在增长，而且是在稳健的财务基础上实现的。</p>
</div><h2>Raised Full-Year Guidance Reflects Management Confidence</h2>
<div class="lb-trans"><h2>上调全年指导反映管理层信心</h2>
</div><p>Reflecting the strong quarter, BlackBerry raised its full‑year guidance. The midpoint of total company revenue was lifted by $6 million to a range of $531 million to $541 million, while adjusted EBITDA guidance increased by $7.5 million to a range of $94 million to $104 million. This upward revision signals management’s growing confidence in both QNX and Secure Communications, and suggests that underlying demand trends remain favorable heading into the final quarter of the fiscal year.</p>
<div class="lb-trans"><p>反映出强劲的季度表现，黑莓上调了全年指导。公司总收入的中点提高了 600 万美元，范围为 5.31 亿至 5.41 亿美元，而调整后的 EBITDA 指导提高了 750 万美元，范围为 9400 万至 1.04 亿美元。这一上调信号表明管理层对 QNX 和安全通信的信心日益增强，并暗示在财政年度最后一个季度，基本需求趋势仍然向好。</p>
</div><h2>Secure Communications Faces Tough Year-Over-Year Comparison</h2>
<div class="lb-trans"><h2>安全通信面临艰难的同比比较</h2>
</div><p>While Secure Communications exceeded expectations this quarter, not all comparisons were favorable. SecuSmart, a component of the segment, grew sequentially but declined year over year due to a difficult comparison against last year’s unusually strong upgrade cycle from the German government. Management framed this decline as a timing issue rather than a structural problem, indicating that demand remains intact but is lumpy due to large government contracts.</p>
<div class="lb-trans"><p>尽管安全通信在本季度超出预期，但并非所有比较都是有利的。作为该部门组成部分的 SecuSmart，虽然环比增长，但由于与去年德国政府异常强劲的升级周期相比，同比下降。管理层将这一下降视为时机问题，而非结构性问题，表明需求仍然存在，但由于大型政府合同而出现波动。</p>
</div><h2>QNX Gross Margin Pressure from Funding Shift</h2>
<div class="lb-trans"><h2>QNX 毛利率因资金转移而承压</h2>
</div><p>QNX’s gross margin dipped by two percentage points year over year to a still‑robust 84%. The decline was attributed primarily to the absence of prior‑year P&amp;L benefits from Canada’s Strategic Innovation Fund, rather than any deterioration in the business itself. For investors, the message was that margins remain high by software standards, and that the modest compression is more about funding optics than underlying pricing or cost pressure.</p>
<div class="lb-trans"><p>QNX 的毛利率同比下降两个百分点，仍然保持在 84% 的强劲水平。下降主要归因于去年来自加拿大战略创新基金的损益好处缺失，而非业务本身的恶化。对于投资者而言，信息是毛利率在软件标准下仍然很高，而适度的压缩更多是关于资金的光环，而非基本定价或成本压力。</p>
</div><h2>Guidance and Outlook Point to Solid Q4 Momentum</h2>
<div class="lb-trans"><h2>指导和前景指向稳健的第四季度势头</h2>
</div><p>Management’s forward-looking commentary remained constructive. BlackBerry expects Q4 total revenue between $138 million and $148 million and adjusted EBITDA between $22 million and $32 million, building on a Q3 that already exceeded the high end of guidance. With QNX at record levels, secure communications holding up despite macro challenges, and three consecutive quarters of GAAP profitability, the company is positioning itself as a more predictable software and services player. The upgraded full‑year outlook underscores the view that current momentum can carry into the remainder of the fiscal year.</p>
<div class="lb-trans"><p>管理层的前瞻性评论依然积极。黑莓预计第四季度总收入将在 1.38 亿至 1.48 亿美元之间，调整后的 EBITDA 在 2200 万至 3200 万美元之间，建立在已经超出指导上限的第三季度基础上。随着 QNX 达到创纪录水平，安全通信在宏观挑战下保持稳定，以及连续三个季度的 GAAP 盈利，公司正将自己定位为一个更可预测的软件和服务提供商。升级的全年前景强调了当前势头可以延续到财政年度剩余时间的观点。</p>
</div><p>In summary, BlackBerry’s latest earnings call painted a picture of a software company gaining traction on multiple fronts: record QNX revenue, strong secure communications performance, improving profitability, and rising guidance. While there are pockets of year‑over‑year softness and some margin normalization, the overall tone was optimistic, with management emphasizing recurring growth, disciplined execution, and expanding government opportunities that could support further upside for investors watching the stock.</p>
<div class="lb-trans"><p>总之，黑莓最新的财报电话会议描绘了一幅软件公司在多个方面获得进展的图景：创纪录的 QNX 收入、强劲的安全通信表现、改善的盈利能力和上调的指导。尽管存在一些同比疲软的领域和一些毛利率正常化，但整体语气乐观，管理层强调了持续增长、严谨执行和扩展的政府机会，这些都可能为关注该股票的投资者提供进一步的上行空间。</p>
</div>

黑莓财报电话会议重点强调了 QNX 创纪录的增长势头