BlackBerry Limited (NYSE:BB) Q1 2021 Earnings Conference Call - Final Transcript

Jun 24, 2020 • 05:30 pm ET


BlackBerry Limited (NYSE:BB) Q1 2021 Earnings Conference Call - Final Transcript


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Good afternoon and welcome to the BlackBerry First Quarter Fiscal Year 2021 Results Conference Call. My name is Josh, and I will be your conference moderator for today's call. [Operator Instructions] As a reminder, this conference is being recorded for replay purposes.

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

Christopher Lee

Thank you, Josh. Welcome to the BlackBerry fiscal 2020 first quarter results conference call. With me on the call today are Executive Chair and Chief Executive Officer, John Chen; and Chief Financial Officer, Steve Rai.

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 of A replay will also be available on the 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 US 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. These factors include the risk factors that are discussed in the company's annual filings and MD&A and the COVID-19 pandemic, which is negatively impacting public health, financial markets and global economic activity. 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 results. For a reconciliation between our GAAP and non-GAAP numbers, please see the earnings press release and supplement published earlier today, which are available on the EDGAR, SEDAR and websites.

I will now turn the call over to John.

John Chen

Thank you Steve -- Chris, sorry, I was looking at Steve. Thank you, Chris. Good afternoon, everybody. I hope that all of you and your families and your loved ones are staying safe and healthy during this very unprecedented times. This fiscal quarter of ours, which happened during March, April and May, overlap directly with COVID-19 business constraints, resulting in both headwinds and tailwinds. The entire company moved to working from home in early March, and operation has been reasonably smooth.

I will start with the financial highlights in the quarter and then move into the business commentary. I will reference non-GAAP numbers in my summary. In our first fiscal