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BlackBerry Reports 106% Software, 113% Services Growth for for Fiscal 2016

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BlackBerry Limited, a global leader in mobile communications, today reported financial results for the three months and fiscal year ended February 29, 2016 (all figures in U.S. dollars and U.S. GAAP, except where otherwise indicated).

Q4 Highlights
Non-GAAP total revenue of $487 million
Non-GAAP software and services revenue of $153 million, up 106% percent for the same quarter year over year, allowing software and services revenue to grow to $527 million in FY 2016

Adjusted EBITDA of $78 million
Cash and investments balance of $2.62 billion at the end of the fiscal quarter

Non-GAAP loss of $(0.03) per share
Unveiled a new QNX software platform to enable automotive companies to build a full range of secured automated driving systems and in-car acoustics
Showcased at CES, the Internet of Things (IoT) over-the-air software platform as well as BlackBerry Radar, the IoT asset tracking device and software interface.

Launched five secure enterprise mobility management suites, combined complementary BlackBerry and Good capabilities, to provide a holistic management, messaging, collaboration, application enablement and content management platform.

Also, it launched a cybersecurity consulting service to help customers assess and mitigate risks; recently acquired Encription Limited to accelerate these efforts, especially for the connected car and IoT industries

Q4 Results‎
Non-GAAP revenue for the fourth quarter of fiscal 2016 was $487 million with GAAP revenue of $464 million.  GAAP revenue reflects a purchase accounting write down of deferred revenue associated with recent acquisitions. 

The non-GAAP revenue breakdown for the quarter was approximately 32% for software and services, 29% for service access fees (SAF), and 39% for hardware and other revenue.

BlackBerry had over 3,600 enterprise customer wins in the quarter.

Approximately 70% of fourth quarter software revenue was recurring.

Non-GAAP net loss for the fourth quarter was $(18) million, or $(0.03) per share.  GAAP net loss for the quarter was $(238) million, or $(0.45) per basic share.

Basic GAAP net loss reflects a purchase accounting impact of $23 million on GAAP revenue, a non-cash credit associated with the change in the fair value of the debentures of $40 million (the “Q4 Fiscal 2016 Debentures Fair Value Adjustment”), pre-tax charges of $192 million related to restructuring and acquisition costs, stock compensation of $17 million, and amortization of acquired intangibles of $28 million.

The impact of these adjustments on GAAP net income and earnings per share is summarized in a table below.

Total cash, cash equivalents, short-term and long-term investments was $2.62 billion as of February 29, 2016. 

This reflects $6 million of positive free cash flow and $36 million used to repurchase 5 million shares. Excluding $1.25 billion in the face value of our debt, the net cash balance at the end of the quarter was $1.37 billion.

Purchase orders with contract manufacturers totaled approximately $162 million at the end of the fourth quarter, compared to $298 million at the end of the third quarter and down from $394 million in the year ago quarter.  Operating cash flow was $9 million.

“Overall, BlackBerry’s Q4 performance was solid as we made progress on the key elements of our strategy, which are to grow software faster than the mobility software market, achieve device profitability and generate positive free cash flow,” said Executive Chairman and Chief Executive Officer John Chen.

“We have clearly gained traction and market share in enterprise software. We more than doubled our software and licensing revenue in Q4 and exceeded our target of $500 million for the full year.  Looking to FY 2017, our strategy is on track and our growth engines are in place to continue to generate above market growth in software and achieve our profitability objectives,” said Chen.

Outlook
The company expects to grow software and services at around 30 percent.

The Company continues to anticipate positive free cash flow and adjusted EBITDA for the full 2017 fiscal year.


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Google Rolls Out Search Live AI to 200+ Countries, Including Nigeria

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Google has launched its Search Live feature globally to over 200 countries, including Nigeria, where AI Mode is available, enabling voice-and-camera conversations in users’ preferred languages.

Google Rolls Out Search Live AI to 200+ Countries, Including Nigeria

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Powered by the new multilingual Gemini 3.1 Flash Live model, it delivers natural, real-time interactions via the Google app on Android or iOS—tap the Live icon under the Search bar.

Ideal for hands-free help, users can speak queries for audio replies, follow-ups, or web links. Camera integration adds visual context, like troubleshooting a shelving unit, or pairs with Google Lens for real-world chats.

From the app or Lens, Nigerians can now explore, learn, or solve tasks instantly, boosting everyday productivity worldwide.


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IFC Invests $45m to Green African Telecom Sites

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Clean and reliable power for telecom networks in Ethiopia, Liberia, and Sierra Leone will be expanded following a $45 million investment by the International Finance Corporation (IFC) in IPT PowerTech.

The investment targets countries where limited power supply continues to slow digital connectivity and broader economic participation, the institution stated earlier this week.

To enable this expansion, the IFC is providing a $45 million corporate financing package consisting of an A-loan of $27 million and $18 million in blended finance.

The blended portion is sourced from the Canada-IFC Blended Climate Finance Programme and the IDA20 Private Sector Window Blended Finance Facility.

The initiative marks the IFC’s first direct infrastructure engagement in Liberia in a decade and in Sierra Leone in six years.

It will help scale solar- and battery-based power systems that reduce reliance on diesel and support greener, more resilient telecom networks.

By improving the quality and stability of power to telecom towers, the initiative will strengthen mobile coverage and ensure that households, schools, health centres, and small businesses can depend on consistent digital services, said the IFC.

The funding supports the modernisation, operation, and maintenance of 2 235 telecom sites across the three nations. More than 90% of these are located in off-grid or weak-grid locations.

With new solar and battery systems powering these sites, mobile networks will experience fewer outages and improved service quality.

Optimising the energy mix is estimated to reduce power costs for operators by up to 30% in Liberia, 26% in Sierra Leone, and 52% in Ethiopia.

This transition is also expected to cut emissions by more than 10 624 tonnes of carbon dioxide annually. Furthermore, the partnership will promote gender inclusion by expanding opportunities for women in technical, operational, and leadership roles within the sector, says the IFC.

This agreement reflects a shared vision for a greener telecom industry and empowers the company to scale its innovative energy platforms, according to Nabil Haddad, CEO of IPT PowerTech Group.

Reliable and affordable power for telecom networks is a cornerstone of Africa’s digital transformation, said Nathalie Kouassi-Akon, IFC regional director for West Africa and the Gulf of Guinea.

Through this partnership, the institution is supporting a scalable, private sector-led solution that enables mobile operators to reach underserved and fragile communities more sustainably, added Kouassi-Akon.

The project advances the World Bank Group and African Development Bank’s Mission 300 initiative, which aims to provide electricity to 300 million Africans by 2030.


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Expedier Launches Platform to Ease Cross-Border Payments for African Firms

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Expedier has unveiled “Expedier for Business,” an online pro-banking platform to simplify global payments, multi-currency transactions, and financial operations for expanding companies.

Expedier Launches Platform to Ease Cross-Border Payments for African Firms

Kingsley Madu

The tool centralizes payments, invoicing, payroll, and treasury into one secure dashboard, tackling challenges like fragmented systems and poor visibility that hinder international scaling.

Kingsley Madu, Co-Founder and CEO of Expedier, said: “African businesses are increasingly global… Expedier for Business was built to simplify how companies manage money across borders while maintaining visibility, control, and compliance.”

Key features include customizable dashboards for payments, invoices, and workflows; support for USD, CAD, GBP, EUR, and more; virtual cards; automated payroll/invoicing; currency swaps; and real-time tracking.

Security measures cover two-factor authentication, KYC/KYB verification, and team access controls.

As cross-border trade and remote work boom in Africa, the platform aids firms dealing with international suppliers, teams, and customers. It is now available for organizations scaling globally.


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