Canadian technology firm BlackBerry (BB) has reported a net loss of $4 million U.S. for its fiscal third quarter ended November 30.
The net loss is a stark reversal from a $74 million U.S. profit recorded in the same quarter of 2021. The Waterloo, Ontario-based company reports its earnings in U.S. dollars.
On a per share basis, BlackBerry reported a loss of $0.09 U.S., which was 80% greater than the $0.05 U.S. per share loss reported a year ago.
Revenue for fiscal Q3 came in at $169 million U.S., down 8% from $184 million U.S. a year earlier.
Revenue in the company’s Internet of Things segment rose 19% year-over-year, while other areas such as cybersecurity and licensing declined in the period.
The former smartphone maker, which has evolved from producing devices to making software that is focused on cybersecurity and internet-enabled technologies, said its gross margin in fiscal Q3 was 64.5% compared to 63.6% a year earlier.
BlackBerry’s stock is down 53% in 2022 and trading at $5.63 per share.
