BlackBerry Ltd. Files 2024 Annual Report on Form 10-K

Ticker: BB · Form: 10-K · Filed: 2024-04-04T00:00:00.000Z

Sentiment: neutral

Topics: BlackBerry, 10-K, Annual Report, Cybersecurity, IoT

TL;DR

<b>BlackBerry Ltd. has submitted its 2024 annual report (10-K), detailing its financial performance and business operations for the fiscal year ending February 29, 2024.</b>

AI Summary

BLACKBERRY Ltd (BB) filed a Annual Report (10-K) with the SEC on April 4, 2024. BlackBerry Ltd. filed its annual report on Form 10-K for the fiscal year ended February 29, 2024. The filing covers the period from March 1, 2023, to February 29, 2024. The company's principal executive offices are located at 2200 University Avenue East, Waterloo, Ontario, N2K 0A7. BlackBerry Ltd. was formerly known as Research In Motion Ltd., with a name change on September 11, 1998. The filing is a public document with 151 pages.

Why It Matters

For investors and stakeholders tracking BLACKBERRY Ltd, this filing contains several important signals. This 10-K filing provides a comprehensive overview of BlackBerry's financial health, strategic initiatives, and risk factors for investors and stakeholders. The report is crucial for understanding the company's current standing and future outlook in the technology sector, particularly in its core areas of cybersecurity and IoT.

Risk Assessment

Risk Level: medium — BLACKBERRY Ltd shows moderate risk based on this filing. The company operates in the competitive software and cybersecurity markets, facing risks related to technological advancements and market adoption, as indicated by its ongoing business evolution.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess BlackBerry's strategic direction and competitive positioning.

Key Numbers

Key Players & Entities

FAQ

When did BLACKBERRY Ltd file this 10-K?

BLACKBERRY Ltd filed this Annual Report (10-K) with the SEC on April 4, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by BLACKBERRY Ltd (BB).

Where can I read the original 10-K filing from BLACKBERRY Ltd?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by BLACKBERRY Ltd.

What are the key takeaways from BLACKBERRY Ltd's 10-K?

BLACKBERRY Ltd filed this 10-K on April 4, 2024. Key takeaways: BlackBerry Ltd. filed its annual report on Form 10-K for the fiscal year ended February 29, 2024.. The filing covers the period from March 1, 2023, to February 29, 2024.. The company's principal executive offices are located at 2200 University Avenue East, Waterloo, Ontario, N2K 0A7..

Is BLACKBERRY Ltd a risky investment based on this filing?

Based on this 10-K, BLACKBERRY Ltd presents a moderate-risk profile. The company operates in the competitive software and cybersecurity markets, facing risks related to technological advancements and market adoption, as indicated by its ongoing business evolution.

What should investors do after reading BLACKBERRY Ltd's 10-K?

Investors should review the detailed financial statements and risk factors in the 10-K to assess BlackBerry's strategic direction and competitive positioning. The overall sentiment from this filing is neutral.

How does BLACKBERRY Ltd compare to its industry peers?

BlackBerry operates in the software and technology sector, focusing on cybersecurity and Internet of Things (IoT) solutions.

Are there regulatory concerns for BLACKBERRY Ltd?

The filing is made in accordance with the Securities Exchange Act of 1934, requiring public companies to submit annual reports.

Industry Context

BlackBerry operates in the software and technology sector, focusing on cybersecurity and Internet of Things (IoT) solutions.

Regulatory Implications

The filing is made in accordance with the Securities Exchange Act of 1934, requiring public companies to submit annual reports.

What Investors Should Do

  1. Review BlackBerry's financial statements for the fiscal year ended February 29, 2024.
  2. Analyze the company's risk factors section for potential challenges and mitigation strategies.
  3. Assess the company's strategic priorities and outlook for its cybersecurity and IoT segments.

Key Dates

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year ending February 29, 2024, following the previous year's filing for the period ending February 28, 2023.

Filing Stats: 4,177 words · 17 min read · ~14 pages · Grade level 18.8 · Accepted 2024-04-04 17:29:48

Key Financial Figures

Filing Documents

Business 4

Item 1 Business 4

Risk Factors 12

Item 1A Risk Factors 12

Unresolved Staff Comments 24

Item 1B Unresolved Staff Comments 24

Cybersecurity 24

Item 1C Cybersecurity 24

Properties 25

Item 2 Properties 25

Legal Proceedings 25

Item 3 Legal Proceedings 25

Mine Safety Disclosures 25

Item 4 Mine Safety Disclosures 25 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 26

Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 26

[Reserved] 28

Item 6 [Reserved] 28

Management's Discussion and Analysis of Financial Condition and Results of Operation 28

Item 7 Management's Discussion and Analysis of Financial Condition and Results of Operation 28

Quantitative and Qualitative Disclosures about Market Risk 58

Item 7A Quantitative and Qualitative Disclosures about Market Risk 58

Financial Statements and Supplementary Data 60

Item 8 Financial Statements and Supplementary Data 60

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 109

Item 9 Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 109

Controls and Procedures 109

Item 9A Controls and Procedures 109

Other Information 109

Item 9B Other Information 109

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 109

Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 109 Part III

Directors, Executive Officers and Corporate Governance 110

Item 10 Directors, Executive Officers and Corporate Governance 110

Executive Compensation 112

Item 11 Executive Compensation 112

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 112

Item 12 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 112

Certain Relationships and Related Transactions, and Director Independence 112

Item 13 Certain Relationships and Related Transactions, and Director Independence 112

Principal Accounting Fees and Services 113

Item 14 Principal Accounting Fees and Services 113 PART IV

Exhibit and Financial Statement Schedules 114

Item 15 Exhibit and Financial Statement Schedules 114

Form 10-K Summary 115

Item 16 Form 10-K Summary 115 Signatures 116 3 Unless the context otherwise requires, all references to the "Company" and "BlackBerry" include BlackBerry Limited and its subsidiaries. PART I

BUSINESS

ITEM 1. BUSINESS The Company: A heritage of innovation Founded in 1984, the Company is a leading provider of intelligent security software and services to enterprises, governments and leading OEMs around the world. Its products secure 17 of the G20 governments and enable more than 235 million vehicles. Based in Waterloo, Ontario, the Company has two core divisions, each addressing large and growing market opportunities. Its Cybersecurity division is a pioneer in the use of artificial intelligence ("AI") and machine learning to deliver innovative solutions in the areas of cybersecurity and data privacy. It is a leader in endpoint security, endpoint management, secure communications and critical event management. The Company's IoT division is a leader in embedded software where the Company believes it is the world's leading automotive foundational software supplier. Its customers include leading automotive OEMs and Tier 1 suppliers that use its products in vehicles, as well as top medical OEMs. The Company's solutions are implemented into all the top 10 automotive OEMs, top 7 Tier 1 suppliers, 24 of the 25 top EV OEMs, and 9 of the 10 top medical OEMs. The Company was incorporated under the Business Corporations Act (Ontario) ("OBCA") and has amalgamated with several of its wholly-owned subsidiaries, the last occurring through the filing of articles of amalgamation under the OBCA on November 4, 2013. The Company's common shares trade under the ticker symbol "BB" on the New York Stock Exchange ("NYSE") and the Toronto Stock Exchange ("TSX"). Intercorporate Relationships The Company has four material subsidiaries, all of which are wholly-owned, directly or indirectly, by the Company in each case as at February 29, 2024. Name of Subsidiary Jurisdiction of Incorporation or Organization BlackBerry Corporation Delaware, U.S.A. BlackBerry UK Limited England and Wales Cylance Inc. Delaware, U.S.A. Secusmart GmbH Duesseldorf, Germany Industry Background: Large a

View on Read The Filing