BlackBerry Limited (NYSE: BB) has reported a net loss for the first quarter of 2025, on an adjusted basis. The bottom line was negatively impacted by a sharp decline in revenues.
Revenues decreased sharply to $144 million in the first quarter from $373 million in the corresponding period of fiscal 2024. An increase in IoT revenue was more than offset by weakness in the other businesses.
The company reported an adjusted loss of $0.03 per share for Q1, compared to earnings of $0.06 per share a year earlier. On an unadjusted basis, it was a net loss of $42 million or $0.07 per share, compared to a loss of $11 million or $0.02 per share in the first quarter of last year.
“Both our IoT and Cybersecurity businesses beat revenue expectations. QNX recorded solid royalty revenue while our Cybersecurity division delivered a second consecutive quarter of ARR growth, as well as further enhancing dollar-based net retention,” said John Giamatteo, CEO of BlackBerry.