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Stocks of BlackBerry Limited (TSX:BB) were trading volatilely on Tuesday, March 30, as the company announced its full fiscal year 2021 results post-market closing.
The software firm posted an operating loss of US$ 313 million in the fourth fiscal quarter of 2021, led by the fair value changes to its long-term debt. It also recorded a loss of US$ 1.97 per basic and diluted share.
The stock closed in the green yesterday, up slightly 1 per cent. However, the New York Stock Exchange-listed shares of BlackBerry were down almost 7 per cent in the pre-market trading on Wednesday.
The company garnered a robust sequential billings surge for their Software and Services operation in the fourth fiscal quarter, Chairman and CEO John Chen said. He also noted remarkable improvement in its cybersecurity management, Spark, and software solution, QNX. He also claimed that their net billings have rebounded to pre-COVID levels.
Let us dig more into its stock performance and financial numbers:
BlackBerry Limited (TSX:BB)
After exiting its mobile phone business, the company looks quite focused on its artificial intelligence and cybersecurity segments. Its stock has a current price of C$ 11.78 and a market cap of C$ 6.661 billion.
The cyber stock is still up around 40 per cent quarter-to-date (QTD). Its one-year growth has stood at 112.63 per cent, beating the S&P TSX Software Index that is up 46.74 per cent relatively. However, the stock has shrunk by three times from its 52-week high of C$ 36 apiece (Set on January 27, 2021).
Its debt-to-equity ratio is 0.33, and the price-to-cashflow ratio is 82.60.
BlackBerry's One-Year Stock Performance Chart. (Source: Refinitiv)
The Ontario-based software company posted adjusted revenue of US$ 215 million in the fourth quarter of FY21, down compared with US$ 291 million in Q4 FY20.
BlackBerry is yet to upload its fiscal 2022 forecast on the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) website.
Bay Street analysts are still looking closely at its quarter-old partnership with Amazon Web Services (AWS). BlackBerry launched its IVY Innovation Fund worth US$ 50 million on March 25, to accelerate its smart vehicle solutions. It will also support developing data-driven services that will be a win-win initiative for the duo.
