BlackBerry Limited (NYSE:BB) Q1 2020 Earnings Conference Call - Final Transcript

Jun 26, 2019 • 08:00 am ET

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BlackBerry Limited (NYSE:BB) Q1 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good morning and welcome to the BlackBerry Fiscal Year 2020 First Quarter Results Conference Call. My name is Lisa and I will be your conference moderator for today's call. During the presentation, all participants will be in a listen-only mode. We will be facilitating a brief question and answer session towards the end of the conference. [Operator Instructions]. As a reminder, this conference is being recorded for replay purposes.

I would now like to turn the presentation over to our host for today's call, Christopher Lee, Vice President of Finance. Please go ahead.

Executive
Christopher Lee

Thank you, Lisa. Welcome to the BlackBerry Fiscal Year 2020 First Quarter Results Conference Call. With me on the call today are Executive Chairman and Chief Executive Officer John Chen, and Chief Financial Officer, Steve Capelli. After I read our Cautionary Note regarding forward-looking statements, John will provide a business update and Steve will then review the financial results. We will then open the call for a brief Q&A session.

This call is available to the general public via call-in numbers and via webcast in the Investor information section at BlackBerry.com. A replay will also be available on the BlackBerry.com website. Some of the statements we'll be making today constitute forward-looking statements and are made pursuant to the Safe Harbor provisions of applicable U.S. and Canadian securities laws. We'll indicate forward-looking statements by using words such as expect, will, should, model, intend, believe and similar expressions.

Forward-looking statements are based on estimates and assumptions made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes are relevant. Many factors could cause the Company's actual results or performance to differ materially from those expressed or implied by the forward-looking statements, including the risk factors that are discussed in the Company's Annual Information Form which is included in our Annual Report on Form 40-F and in our MD&A.

You should not place undue reliance on the Company's forward-looking statements. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements except as required by law. As is customary during the call, John and Steve will reference non-GAAP numbers in their summary of our quarterly and annual results. For a reconciliation between our GAAP and non-GAAP numbers, please see the earnings press release and supplement published earlier today.

I will now turn the call over to John.

Executive
John Chen

Thank you, Chris. Good morning everybody. BlackBerry is off to a good start in Fiscal 2020. Our Total Company Revenue grew 23% year-over-year. Total Company Revenue growth was driven by a 35% increase year-over-year in Total Software and Services Revenue. To break it down further, on an organic basis, Total Software and Services Revenue grew 8% year-over-year, and in addition, BlackBerry Cylance Software and Services Revenue grew 31% year-over-year. I am pleased to report that our integration of BlackBerry Cylance is ahead of schedule. These activities result in revenue growth