BlackBerry Ltd (BB) 2022 Q2 法說會逐字稿

Good afternoon, and welcome to the BlackBerry's Second Quarter Fiscal Year 2022 Results Conference Call.

下午好，歡迎參加 BlackBerry 2022 財年第二季度業績電話會議。

My name is Ashley, and I'll be your conference moderator for today's call.

我的名字是 Ashley，我將擔任今天電話會議的會議主持人。

(Operator Instructions)

（操作員說明）

As a reminder, this conference is being recorded for replay purposes.

提醒一下，正在錄製本次會議以供重播。

I would now like to turn today's call over to Tim Foote, BlackBerry Investor Relations.

我現在想將今天的電話轉給 BlackBerry 投資者關係部的 Tim Foote。

Please go ahead.

請繼續。

Thank you, Ashley.

謝謝你，阿什利。

Good afternoon, and welcome to BlackBerry's Second Quarter Fiscal 2022 Earnings Conference Call.

下午好，歡迎參加 BlackBerry 2022 財年第二季度財報電話會議。

With me on the call today are Executive Chair and Chief Executive Officer, John Chen; and Chief Financial Officer, Steve Rai.

今天與我通話的還有執行主席兼首席執行官 John Chen；和首席財務官 Steve Rai。

After I read our cautionary note regarding forward-looking statements, John will provide a business update.

在我閱讀我們關於前瞻性陳述的警告說明後，約翰將提供業務更新。

Steve will review the financial results.

史蒂夫將審查財務結果。

We will then open the call for a brief Q&A session.

然後，我們將打開電話進行簡短的問答環節。

This call is available to the general public via call-in numbers and via webcast in the Investor Information section at blackberry.com.

公眾可通過電話號碼和 blackberry.com 的“投資者信息”部分的網絡廣播向公眾提供此電話。

A replay will also be available on the blackberry.com website.

blackberry.com 網站上也將提供重播。

Some of the statements we'll be making today constitute forward-looking statements and are made pursuant to the safe harbor provision of applicable U.S. and Canadian securities laws.

我們今天將做出的一些陳述構成前瞻性陳述，並根據適用的美國和加拿大證券法的安全港條款作出。

We'll indicate forward-looking statements by using words such as expect, will, should, model, intend, believe and similar expressions.

我們將使用諸如期望、將、應該、模型、打算、相信和類似的表達方式來表明前瞻性陳述。

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.

前瞻性陳述是基於公司根據其經驗和對歷史趨勢、當前狀況和預期未來發展的看法以及公司認為相關的其他因素做出的估計和假設。

Many factors could cause the company's actual results or performance to differ materially from those expressed or implied by the forward-looking statements.

許多因素可能導致公司的實際結果或業績與前瞻性陳述中明示或暗示的結果或業績存在重大差異。

These factors include the risk factors that are discussed in the company's annual filings and MD&A, including the COVID-19 pandemic.

這些因素包括公司年度文件和 MD&A 中討論的風險因素，包括 COVID-19 大流行。

You should not place undue reliance on the company's forward-looking statements.

您不應過分依賴公司的前瞻性陳述。

The company has no intention and undertakes no obligation to update or revise any forward-looking statement, except as required by law.

除法律要求外，公司無意且不承擔更新或修改任何前瞻性陳述的義務。

As it's customary during the call, John and Steve will reference non-GAAP numbers in their summary of our quarterly results.

按照電話會議的慣例，約翰和史蒂夫將在他們的季度業績摘要中引用非公認會計準則數字。

For a reconciliation between our GAAP and non-GAAP numbers, please see the earnings press release published earlier today, which is available on the EDGAR, SEDAR and blackberry.com websites.

有關我們的 GAAP 和非 GAAP 數字之間的核對，請參閱今天早些時候發布的收益新聞稿，該新聞稿可在 EDGAR、SEDAR 和 blackberry.com 網站上找到。

And with that, I'll turn the call over to John.

有了這個，我會把電話轉給約翰。

Thank you.

謝謝你。

Thank you, Tim.

謝謝你，蒂姆。

Good afternoon, everybody, and thanks for joining the call today.

大家下午好，感謝您今天加入電話會議。

One correction.

一更正。

I think all the number -- all the revenue number we use will be GAAP-based, correct?

我認為所有的數字——我們使用的所有收入數字都將基於 GAAP，對嗎？

Yes.

是的。

When you say non-GAAP numbers, it's actually -- the revenue number we refer to are GAAP-based number.

當您說非 GAAP 數字時，實際上是 - 我們所指的收入數字是基於 GAAP 的數字。

Okay, starting with our highlights.

好的，從我們的亮點開始。

This quarter, the business performed well with revenue for all the 3 business segments are beating expectations.

本季度，該業務表現良好，所有 3 個業務部門的收入均超出預期。

The Cyber Security business unit delivered strong sequential billings and revenue growth.

網絡安全業務部門實現了強勁的連續計費和收入增長。

The IoT business unit performed better than expected with strong design-related activities, partially offsets -- offsetting the impact of the global chip shortage on production royalties.

物聯網業務部門的表現好於預期，設計相關活動強勁，部分抵消了全球芯片短缺對生產特許權使用費的影響。

Licensing revenue reflects the restriction on monetization activity from the ongoing patent sale negotiations, which I'll talk about more in detail shortly.

許可收入反映了正在進行的專利銷售談判對貨幣化活動的限制，我稍後將對此進行更詳細的討論。

Licensing and other revenue came in slightly stronger than expected.

許可和其他收入略強於預期。

This quarter, BlackBerry generated positive operating cash flow.

本季度，黑莓產生了正的經營現金流。

Following the strengthening of our IoT leadership team in Q1, we have appointed John Giamatteo to lead our Cyber Security business unit, beginning or commencing November -- October 4, sorry, commencing October 4, which is a couple of weeks from now.

在第一季度加強我們的物聯網領導團隊之後，我們已任命 John Giamatteo 領導我們的網絡安全業務部門，從 11 月開始或開始 - 10 月 4 日，抱歉，從 10 月 4 日開始，距現在幾週。

John was previously the McAfee President and Chief Revenue Officer, running their enterprise and consumer cyber security businesses.

John 之前是 McAfee 總裁兼首席營收官，負責管理他們的企業和消費者網絡安全業務。

This new appointment completes the refocus of our software business into 2 business units.

這項新任命完成了我們將軟件業務重新集中到兩個業務部門的過程。

I'll cover this in more detail later.

稍後我將更詳細地介紹這一點。

I'll start my review with the IoT business unit.

我將從物聯網業務部門開始我的審查。

Revenue came in at $40 million, which is better than expected, primarily due to ongoing strength in the design activities area.

收入為 4000 萬美元，好於預期，這主要是由於設計活動領域的持續實力。

Gross margin remained strong at 83%.

毛利率保持強勁，為 83%。

IoT AR increased to $89 million.

物聯網 AR 增至 8900 萬美元。

As you are all aware, the auto industry experienced some significant headwinds in Q2 due to the global semiconductor chip shortage.

眾所周知，由於全球半導體芯片短缺，汽車行業在第二季度遇到了一些重大不利因素。

This impact production volume, particularly in North America, Ford, for instance, a major customer of ours, reported 700,000 lost units of production in calendar Q2.

這種影響產量，特別是在北美，例如，我們的主要客戶福特報告稱，第二季度的產量損失了 700,000 輛。

Production-based royalty are historically the largest single component of our QNX revenue.

基於生產的版稅歷來是我們 QNX 收入的最大單一組成部分。

However, a significant portion of revenue is also generated from design activities prior to the vehicle entering production.

然而，很大一部分收入也來自車輛投入生產之前的設計活動。

This part of the business remains very vibrant, and we continue to generate strong development seat and professional services revenues.

這部分業務仍然非常活躍，我們繼續產生強大的開發席位和專業服務收入。

As a result, total IoT revenue in the quarter was better than expected.

因此，本季度物聯網總收入好於預期。

Furthermore, these design wins will translate into future production-based royalties.

此外，這些設計勝利將轉化為未來基於生產的版稅。

As we look ahead through the rest of the year, we continue to see the headwind for our vehicle production.

展望今年剩餘時間，我們繼續看到汽車生產的逆風。

The problem is future have shifted from surprise of wafers to more of a back-end assembly and testing issues, largely due to spike in COVID cases in Asia as well as some of the accidents going on in Asia, like some of the plants have fire for example.

問題是未來已經從晶圓的意外轉向更多的後端組裝和測試問題，這主要是由於亞洲 COVID 病例激增以及亞洲發生的一些事故，比如一些工廠發生火災例如。

Feedback from OEM about the impact on production volumes in the second half is somewhat mixed and constantly evolving.

OEM 對下半年產量影響的反饋有些喜憂參半，而且還在不斷變化。

For example, Daimler recently indicated they are expecting a lessening impact by Q4 -- excuse me -- whilst Volkswagen, on the other hand, see challenges persisting into 2023.

例如，戴姆勒最近表示，他們預計到第四季度的影響會減弱——對不起——而另一方面，大眾汽車認為挑戰將持續到 2023 年。

In terms of outlook, we continue to see the past quarter at the low point, but significant headwinds are expected to continue into Q4 -- Q3 and Q4 and perhaps even beyond that, albeit with a sequentially decreasing impact.

就前景而言，我們繼續看到上個季度處於低點，但預計重大不利因素將持續到第四季度——第三季度和第四季度，甚至可能超過此時間，儘管影響會依次下降。

The impact of the chip shortage on QNX royalty revenue is expected to be buffered somewhat by ongoing strength in design activities.

預計芯片短缺對 QNX 專利費收入的影響將因設計活動的持續增長而有所緩衝。

We are comfortable with the current IoT revenue consensus, meaning the full year revenue outlook remains unchanged.

我們對當前的物聯網收入共識感到滿意，這意味著全年收入前景保持不變。

As mentioned, despite the supply chain issue, QNX continue to win new design at a very solid pace.

如前所述，儘管存在供應鏈問題，但 QNX 繼續以非常穩健的速度贏得新設計。

In the quarter, we had 23 new design wins with 7 in auto and 16 in the general embedded market, we call GEM.

在本季度，我們贏得了 23 項新設計，其中 7 項在汽車領域，16 項在通用嵌入式市場，我們稱之為 GEM。

Because of our market presence and leading technology, we are the trusted go-to supplier and market leader in auto.

由於我們的市場佔有率和領先的技術，我們是值得信賴的汽車供應商和市場領導者。

Furthermore, we're delighted to announce that we now have design wins with 24 of the world top 25 electric vehicle automakers as its measured by volume.

此外，我們很高興地宣布，我們現在已經贏得了世界前 25 家電動汽車製造商中的 24 家的設計勝利（按數量計算）。

Having been selected most recently by Daimler as part of their design -- as part of their EV design.

最近被戴姆勒選中作為其設計的一部分——作為其 EV 設計的一部分。

This is up from the 23 of 25 we had last quarter.

這比我們上個季度的 25 個中的 23 個有所增加。

These 24 OEMs between them represent 82% of global EV market -- production, sorry, 82% of global EV production.

這 24 家原始設備製造商佔全球電動汽車市場的 82%——產量，抱歉，佔全球電動汽車產量的 82%。

This demonstrates the leading position we have in this very fast-growing part of the auto industry.

這表明我們在汽車行業這個快速發展的領域處於領先地位。

I'd like to expand on a couple of design wins to give investor more colors as to why QNX was chosen and why we are the industry leader.

我想擴展幾個設計勝利，讓投資者了解為什麼選擇 QNX 以及為什麼我們是行業領導者。

The first event was with an automotive Tier 1 that is building full digital carpet and gateway solution for a Chinese EV OEM using the QNX real-time operating system and hypervisor.

第一個活動是汽車 Tier 1 使用 QNX 實時操作系統和管理程序為中國 EV OEM 構建全數字地毯和網關解決方案。

QNX technology is well known and trusted in China, in the Chinese automotive industry, given its reputation for safety and security.

QNX 技術在中國，在中國汽車行業享有盛譽，在安全和安保方面享有盛譽。

QNX was chosen about software solution from both domestic and multination -- and as well as multinational competitors.

QNX 被國內和跨國公司以及跨國競爭對手選為軟件解決方案。

Production is expected in 2022, which is next year and run for around 5 years.

預計 2022 年投產，也就是明年，運行 5 年左右。

The second is the leading Japanese industrial robotics manufacturer that's also happened to be a new logo to BlackBerry.

第二個是日本領先的工業機器人製造商，它也恰好是黑莓的新標誌。

The customer select QNX for an autonomous 3D-robot warehousing system ahead of the leading competitors.

客戶選擇 QNX 作為自主 3D 機器人倉儲系統，領先於主要競爭對手。

QNX was chosen for its functional safety potentials, production is expected to start this year and continue for 5 years.

QNX 因其功能安全潛力而被選中，預計將於今年開始生產並持續 5 年。

Other notable design wins this quarter in auto included instrument cluster and ADAS systems.

其他值得注意的設計在本季度贏得了汽車包括儀錶盤和 ADAS 系統。

In the GEM space, design wins, including medical diagnostic, industrial process control and a thermal control system for a power plant.

在 GEM 領域，設計勝出，包括醫療診斷、工業過程控制和發電廠的熱控制系統。

I'm going to shift it to Jarvis.

我要把它轉移給賈維斯。

During the quarter, we launched Jarvis 2.0.

在本季度，我們推出了 Jarvis 2.0。

This is a SaaS version of our software composition and an analytics tool, which was previously offered as a BES book service engagement.

這是我們軟件組合和分析工具的 SaaS 版本，之前作為 BES 圖書服務參與提供。

Jarvis 2.0, which include a market-leading binary code scanner, is an important part of how BlackBerry can assist customer to achieve compliance with the recent SBOM executive order, Secure Bill of Materials -- Software Bill of Materials, sorry, Software Bill of Materials, executive auditors, mandated by the Biden administration.

Jarvis 2.0 包括市場領先的二進制代碼掃描器，是 BlackBerry 如何幫助客戶遵守最近的 SBOM 行政命令的重要組成部分，安全物料清單 - 軟件物料清單，對不起，軟件物料清單，執行審計員，由拜登政府授權。

Moving to a brief update on IVY.

轉到 IVY 的簡短更新。

We are pleased with the ongoing progress being made.

我們對正在取得的進展感到高興。

Both BlackBerry and AWS has significant resources allocated to project and our time line remains on track.

BlackBerry 和 AWS 都為項目分配了大量資源，我們的時間線仍按計劃進行。

We are on schedule to release an early access version of the production in October -- in the product, sorry, we're scheduled to release an early access version of the product in October that will enable further engagement with OEMs and also allow demonstration at CES in January.

我們計劃在 10 月發布產品的早期訪問版本——在產品中，抱歉，我們計劃在 10 月發布該產品的早期訪問版本，這將有助於與 OEM 進一步接觸，並允許在一月份的CES。

This version will be available to certain ecosystem partners to begin actively building applications on IVY.

該版本將提供給某些生態系統合作夥伴，以開始在 IVY 上積極構建應用程序。

And speaking of applications for IVY to be embraced by automakers, we recognize that it is important to demonstrate IVY value to them.

談到汽車製造商接受 IVY 的應用，我們認識到向他們展示 IVY 的價值很重要。

Following on from an AI-driven battery management app that we announced last quarter, we announced another application that we will be built on IVY.

繼上個季度我們宣布了一款由人工智能驅動的電池管理應用程序之後，我們宣布了另一個將基於 IVY 構建的應用程序。

This new application enabled in-vehicle payments and is being delivered through a partnership with CarIQ, a California-based start-up.

這個新應用程序支持車載支付，並通過與總部位於加利福尼亞的初創公司 CarIQ 的合作夥伴關係交付。

The application will use direct access to the sensor data and the edge compute, 2 of the IVI's key differentiators to produce a unique digital fingerprint for the vehicle.

該應用程序將使用對傳感器數據和邊緣計算的直接訪問，這是 IVI 的兩個關鍵差異化因素，可為車輛生成獨特的數字指紋。

This will allow authentication of payments for items such as fuel, tolls, parking surfaces, et cetera, without a need of free credit cards or other traditional payment methods.

這將允許對燃料、通行費、停車位等項目的支付進行身份驗證，而無需免費信用卡或其他傳統支付方式。

This open up the possibility for OEM to participate in the new revenue streams, and it's another of the many potential application that IVY will enable.

這為 OEM 提供了參與新收入流的可能性，這是 IVY 將實現的眾多潛在應用中的另一個。

In summary, IVY continues to progress nicely.

總而言之，IVY 繼續取得不錯的進展。

Now let me turn to Cyber Security.

現在讓我談談網絡安全。

This quarter, the business unit delivered strong sequential billings and revenue growth.

本季度，該業務部門實現了強勁的連續計費和收入增長。

Revenue was $120 million.

收入為1.2億美元。

Gross margin came in at 59%.

毛利率為 59%。

AR was $364 million.

AR 為 3.64 億美元。

Dollar-based net retention was 95%.

基於美元的淨留存率為 95%。

As we mentioned earlier, John Giamatteo will be joining BlackBerry to lead the Cyber Security business unit, taking over from Tom Eacobacci, who was the acting General Manager.

正如我們之前提到的，John Giamatteo 將加入 BlackBerry，領導網絡安全業務部門，接替代理總經理 Tom Eacobacci。

John brings with him many years of cyber security industry experience.

John 帶來了多年的網絡安全行業經驗。

During his 6 years as President and Chief Revenue Officer at McAfee, he delivered both double-digit growth and margin expansion for the enterprise, the SMB as well as the consumer divisions.

在他擔任邁克菲總裁兼首席營收官的 6 年中，他為企業、中小型企業和消費者部門實現了兩位數的增長和利潤增長。

John will build on the progress that has been made in recent quarters with the Cyber Security business unit, go-to-market engine, and he'll also direct old product development and business unit strategy.

John 將在最近幾個季度在網絡安全業務部門、上市引擎方面取得的進展的基礎上再接再厲，他還將指導舊產品開發和業務部門戰略。

Tom Eacobacci has decided to pursue other opportunities and will leave BlackBerry at the end of October.

Tom Eacobacci 已決定尋求其他機會，並將在 10 月底離開黑莓。

The addition of John to the team completes the split of the software and services business into 2 market-focused business units, both IoT and cybers are targeted with driving growth and with its shareholder value.

John 加入團隊完成了將軟件和服務業務拆分為 2 個以市場為中心的業務部門，物聯網和網絡都是以推動增長和股東價值為目標的。

The 2 business units will report directly to me.

兩個業務部門將直接向我匯報。

As mentioned, this was a good quarter, while there's still work for team to do.

如前所述，這是一個不錯的季度，但團隊仍有工作要做。

There's a few outstanding areas that I feel that I'd like to share with you about.

我覺得我想與您分享一些出色的領域。

This quarter, we saw further growth in pipeline for our Cyber Security product, especially for the new logo customers.

本季度，我們看到網絡安全產品的管道進一步增長，特別是對於新徽標客戶。

Pipeline grew strongly for BlackBerry Gateway, our Zero Trust Network Access product launched last quarter.

BlackBerry Gateway 的管道增長強勁，這是我們上個季度推出的零信任網絡訪問產品。

To help realize this increased pipeline, investment in our direct sales force and particularly the hiring of quota-carrying sales head continues.

為了幫助實現這一增加的渠道，我們繼續投資於我們的直銷團隊，尤其是聘用具有配額的銷售主管。

We are also making further progress to the channel as illustrated by a 32% sequential growth in the channel billings this quarter.

我們也在渠道方面取得了進一步的進展，本季度渠道計費連續增長 32% 就說明了這一點。

New partner program has also helped significantly increased both channel-driven pipeline generation and in new local buildings, mainly in the North Americas arena.

新的合作夥伴計劃還幫助顯著增加了渠道驅動的管道生成和新的本地建築，主要是在北美領域。

We also have seen robust growth in business through managed service -- managed security service providers or MSSPs.

通過託管服務——託管安全服務提供商或 MSSP，我們還看到了業務的強勁增長。

You may recall that during the Q2 earnings call a year ago, we target using MSSPs to quickly scale our guarded managed service offering.

您可能還記得，在一年前的第二季度財報電話會議上，我們的目標是使用 MSSP 來快速擴展我們受保護的託管服務產品。

Today, one of these partners, I'm happy to report, manage more than 100,000 endpoints using BlackBerry Cyber's products.

今天，我很高興地報告，其中一位合作夥伴使用 BlackBerry Cyber 的產品管理超過 100,000 個終端。

I'd like to take a closer look at some wins from the quarter that demonstrate why customers are choosing BlackBerry for their cyber security needs.

我想仔細看看本季度的一些勝利，這些勝利證明了為什麼客戶選擇黑莓來滿足他們的網絡安全需求。

The first customer is one of the top 10 automakers in the world.

第一個客戶是世界十大汽車製造商之一。

This customer select our Protect EPP and Optics EDR solution following a competitive bake up in which we went head-to-head with CrowdStrike and Carbon Black.

在我們與 CrowdStrike 和 Carbon Black 正面交鋒之後，該客戶選擇了我們的 Protect EPP 和 Optics EDR 解決方案。

The customer selected BlackBerry due to our near 100% malware detection rate, our lightweight engine and flexible deployment options, both in the cloud as well as the stand-alone factory networks.

客戶之所以選擇 BlackBerry，是因為我們在雲端和獨立工廠網絡中的惡意軟件檢測率接近 100%、我們的輕量級引擎和靈活的部署選項。

The second is a Fortune 100 financial services company, BlackBerry displace Microsoft Defender with PROTECT + OPTICS.

第二個是財富 100 強金融服務公司，黑莓用 PROTECT + OPTICS 取代了 Microsoft Defender。

The company select us particularly for our performance on MAC OS.

公司之所以選擇我們，是因為我們在 MAC OS 上的表現。

The third is where we have continued success within the Australian state government agencies.

第三是我們在澳大利亞州政府機構內繼續取得成功的地方。

This quarter, we sold PROTECT, OPTICS and our Threat Zero consulting services into a number of agency, displacing predominantly legacy incumbents that included Trend Micro and Symantec.

本季度，我們將 PROTECT、OPTICS 和我們的零威脅諮詢服務出售給了多家機構，取代了包括趨勢科技和賽門鐵克在內的主要傳統老牌企業。

The customer chose BlackBerry for our next-generation prevention-first technology.

客戶選擇黑莓作為我們的下一代預防優先技術。

On the industry recognition front, SE Lab, a leading independent research firm based in London has performed a rigorous set of tests on our EPP and EDR products, PROTECT + OPTICS.

在行業認可方面，總部位於倫敦的領先獨立研究公司 SE Lab 對我們的 EPP 和 EDR 產品 PROTECT + OPTICS 進行了一系列嚴格的測試。

This breach test differs from their quarterly endpoint test rather than simply loading no malware onto an endpoint, which typically mask the inability of traditional signature-based vendors to prevent zero day threats.

這種違規測試不同於他們的季度端點測試，而不是簡單地不將惡意軟件加載到端點上，這通常掩蓋了傳統的基於簽名的供應商無法防止零日威脅。

The breach test includes instead applies real-time real-world hacking tactics.

違規測試包括應用實時真實世界的黑客策略。

They apply comprehensive techniques to evade our defense and concluded that PROTECT + OPTICS provide complete prevention, complete detection as well as zero false positive.

他們運用綜合技術來規避我們的防禦，並得出結論，PROTECT + OPTICS 提供了完全的預防、完全的檢測以及零誤報。

A link to the full report could be found on our Investor Relations web page.

可以在我們的投資者關係網頁上找到完整報告的鏈接。

This third-party validation of our product, not just our EPP but also our EDR demonstrating how we have successfully closed the product app to competitors with recent product launches.

我們產品的第三方驗證，不僅是我們的 EPP，還有我們的 EDR，展示了我們如何通過最近的產品發布成功地向競爭對手關閉產品應用程序。

The market is now recognizing some of the unique differentiated abilities of our Cyber products, one of which is the maturity of our AI engine.

市場現在正在認識到我們網絡產品的一些獨特的差異化能力，其中之一就是我們的人工智能引擎的成熟度。

As in the previous quarters, we're seeing new malware and ransomware hitting the headline on an almost daily basis.

與前幾個季度一樣，我們幾乎每天都看到新的惡意軟件和勒索軟件成為頭條新聞。

Our AI engine, the most mature in the industry continues to provide zero day prevention against a host of these threats.

我們的 AI 引擎是業內最成熟的，繼續提供針對這些威脅的零日防禦。

In the quarter, our product successfully brought new profile ransomware such as Hive, LockBit, Ragnar Locker and many more before they could do any damages.

在本季度，我們的產品成功地帶來了新的配置文件勒索軟件，例如 Hive、LockBit、Ragnar Locker 等等，以免造成任何損害。

BlackBerry Finance AI engine is firmly focused on preventing our customers from being breached where some of the leading competitors instead focus on showing customers all the ways that a system -- all the different ways that a system could be assessed.

BlackBerry Finance AI 引擎堅定地專注於防止我們的客戶受到破壞，而一些領先的競爭對手則專注於向客戶展示系統的所有方式——可以評估系統的所有不同方式。

On the UEM front, we are continuing to invest in our road map, delivering enhancements that add most value to customers.

在 UEM 方面，我們將繼續投資於我們的路線圖，提供能夠為客戶增加最大價值的增強功能。

We recently announced that Enterprise can now benefit from BlackBerry leading security while enjoying a seamless and native user experience with Microsoft 365 productivity apps.

我們最近宣布，企業現在可以受益於 BlackBerry 領先的安全性，同時通過 Microsoft 365 生產力應用程序享受無縫的原生用戶體驗。

This is enabled by additional integration between BlackBerry UEM and Microsoft 365, primarily through the Azure active directory conditional assets.

這是通過 BlackBerry UEM 和 Microsoft 365 之間的額外集成實現的，主要是通過 Azure 活動目錄條件資產。

This is part of the latest version of the UEM U-Series, which was released this month, earlier this month -- that is.

這是本月早些時候發布的最新版 UEM U 系列的一部分——也就是說。

U-Series also provides zero day support plan to Android 12 and iOS 15.

U 系列還為 Android 12 和 iOS 15 提供零日支持計劃。

This past quarter, we secured important UEM renewals with government agencies such as IRS, the Department of Homeland Security, the U.S. Marine Corp, the U.S. Army Corp of Engineers, The U.K. Ministry of Defense, the United States Air Force as well as leading enterprise such as General Dynamics and Magna.

在過去的一個季度，我們與政府機構如 IRS、國土安全部、美國海軍陸戰隊、美國陸軍工程兵團、英國國防部、美國空軍以及領先企業獲得了重要的 UEM 續約比如通用動力和麥格納。

We also won a number of new logos such as the French National Institute for Criminal Research and the Tel Aviv Stock Exchange.

我們還獲得了法國國家犯罪研究所和特拉維夫證券交易所等多個新標誌。

With continued growth in pipeline, coupled with investment in direct and channel sales, the outlook for the Cyber Security business unit is for sequential building growth for the remaining of the fiscal year.

隨著管道的持續增長，加上對直接和渠道銷售的投資，網絡安全業務部門的前景是在本財年剩餘時間內實現連續增長。

This is expected to lead to modest sequential revenue growth due to the subscription model.

由於訂閱模式，預計這將導致適度的連續收入增長。

The full year outlook remains as before at the lower end of $495 million to $515 million range.

全年展望保持在 4.95 億美元至 5.15 億美元範圍的低端。

Turning now to licensing.

現在轉向許可。

As I mentioned earlier, negotiation to sell the portion of the patent portfolio related to mobile devices, messaging and wireless networking are ongoing, and we have made significant progress since our last earnings call, including preliminary agreement of many of the key items of the key terms of the deal.

正如我之前提到的，出售與移動設備、消息傳遞和無線網絡相關的部分專利組合的談判正在進行中，自上次財報電話會議以來，我們已經取得了重大進展，包括就關鍵的許多關鍵項目達成初步協議交易條款。

We expect to execute a definitive agreement this quarter.

我們預計將在本季度執行最終協議。

Closing the transaction will be subject to normal regulatory review.

完成交易將接受正常的監管審查。

Normal -- naturally, given this backdrop, we will continue to limit monetization activities for the remaining of this fiscal year.

正常——自然，在這種背景下，我們將繼續限製本財年剩餘時間的貨幣化活動。

Therefore, revenue for both Q3 and Q4 is expected to be similar to Q2, which is at $10 million per quarter.

因此，第三季度和第四季度的收入預計將與第二季度相似，即每季度 1000 萬美元。

While we expect the sales to conclude substantially, the process has taken longer than we expected or anticipated.

雖然我們預計銷售將大幅結束，但該過程花費的時間比我們預期或預期的要長。

Should it not conclude this quarter, we'll have other options, including additional interested parties.

如果本季度沒有結束，我們將有其他選擇，包括更多的利益相關方。

We will update investing on any of the material developments in a timely manner.

我們將及時更新對任何重大發展的投資。

So let me now hand over to Steve to further review the financials.

所以現在讓我交給史蒂夫進一步審查財務狀況。

Steve?

史蒂夫?

Thank you, John.

謝謝你，約翰。

My comments on our financial performance for the second quarter will be in non-GAAP terms unless otherwise noted.

除非另有說明，否則我對第二季度財務業績的評論將採用非公認會計原則。

Please refer to the supplemental table in the press release for the GAAP and non-GAAP details.

有關 GAAP 和非 GAAP 的詳細信息，請參閱新聞稿中的補充表格。

We delivered second quarter total company revenue of $175 million.

我們第二季度的公司總收入為 1.75 億美元。

Second quarter total company gross margin was 65%.

第二季度公司總毛利率為65%。

Our non-GAAP gross margin excludes stock compensation expense of $1 million.

我們的非公認會計原則毛利率不包括 100 萬美元的股票補償費用。

Second quarter operating expenses were $143 million, our non-GAAP operating expenses exclude $32 million in amortization of acquired intangibles, $11 million in stock compensation expense and $57 million fair value adjustment on the convertible debentures, which is a noncash accounting adjustment prone to large swings driven by market and trading conditions.

第二季度運營費用為 1.43 億美元，我們的非 GAAP 運營費用不包括 3200 萬美元的收購無形資產攤銷、1100 萬美元的股票補償費用和 5700 萬美元的可轉換債券公允價值調整，這是一種容易出現大幅波動的非現金會計調整受市場和交易條件的影響。

The second quarter non-GAAP operating loss was $30 million, and the second quarter non-GAAP net loss was $33 million.

第二季度非公認會計準則營業虧損為 3000 萬美元，第二季度非公認會計準則淨虧損為 3300 萬美元。

Non-GAAP earnings per share was a $0.06 loss in the quarter.

本季度非 GAAP 每股收益為 0.06 美元。

Our adjusted EBITDA was negative $14 million this quarter, excluding the non-GAAP adjustments previously mentioned, as we continue to invest in both our Cyber and IoT businesses to drive top line growth.

本季度調整後的 EBITDA 為負 1400 萬美元，不包括前面提到的非公認會計原則調整，因為我們繼續投資於我們的網絡和物聯網業務以推動收入增長。

I'll now provide a breakdown of our revenue in the quarter.

我現在將提供本季度收入的明細。

Cyber Security revenue was $120 million and IoT revenue was $40 million.

網絡安全收入為 1.2 億美元，物聯網收入為 4000 萬美元。

Software product revenue remained in the range of 80% to 85% of the total, with professional services comprising the balance.

軟件產品收入佔總收入的比重保持在 80% 至 85% 之間，專業服務佔其餘部分。

The recurring portion of software product revenue was approximately 80%.

軟件產品收入的經常性部分約為 80%。

Licensing and other revenue was $15 million.

許可和其他收入為 1500 萬美元。

As John mentioned, our IP monetization activities remain limited, while negotiations for the potential sale continue.

正如約翰所說，我們的 IP 貨幣化活動仍然有限，而潛在銷售的談判仍在繼續。

Now moving to our balance sheet and cash flow performance.

現在轉到我們的資產負債表和現金流表現。

Total cash, cash equivalents and investments were $772 million as of August 31, 2021, an increase of $3 million during the quarter.

截至 2021 年 8 月 31 日，現金、現金等價物和投資總額為 7.72 億美元，本季度增加了 300 萬美元。

Our net cash position increased to $407 million.

我們的淨現金頭寸增加到 4.07 億美元。

Second quarter free cash flow was $10 million.

第二季度的自由現金流為 1000 萬美元。

Cash generated from operations was $12 million and capital expenditures were $2 million.

運營產生的現金為 1200 萬美元，資本支出為 200 萬美元。

That concludes my comments.

我的評論到此結束。

I'll now turn it back to John.

我現在把它轉回給約翰。

Thank you, Steve.

謝謝你，史蒂夫。

Before we move to Q&A, I'd like to summarize this past quarter.

在我們進行問答之前，我想總結一下上個季度。

I'm pleased with how the business performed, beating revenue expectations for all the businesses and delivering positive cash flow.

我對業務的表現感到滿意，超過了所有業務的收入預期並提供了正現金流。

The structure of the 2 market focus software business units is already delivering results, and we're adding additional relevant industry experience.

兩個以市場為重點的軟件業務部門的結構已經取得成果，我們正在增加額外的相關行業經驗。

We are encouraged by the growth in Cyber Security pipeline and continue to invest in sales headcount.

我們對網絡安全管道的增長感到鼓舞，並繼續投資於銷售人數。

QNX design activities remains very strong, and we are weathering the impact of the chip shortage as well.

QNX 設計活動仍然非常活躍，我們也在經受住芯片短缺的影響。

We are now also making good progress with IVY.

我們現在在 IVY 方面也取得了不錯的進展。

And with that, I like Ashley, the operator, to open the line for Q&A, please.

有了這個，我喜歡接線員 Ashley，請打開 Q&A 熱線。

(Operator Instructions) Our first question today will be from Mike Walkley with Canaccord.

（操作員說明）我們今天的第一個問題來自 Canaccord 的 Mike Walkley。

Great.

偉大的。

Hi, John, how are you doing?

嗨，約翰，你好嗎？

Very good.

很好。

Thanks for all the updates and the guidance.

感謝所有更新和指導。

Yes, I guess my first question for you is your guidance arguably implies an aggressive second half outlook just to reach the full year guidance.

是的，我想我問你的第一個問題是，你的指導可以說暗示了一個積極的下半年展望，只是為了達到全年的指導。

Can you walk us through what needs to go right for you to achieve that guidance or stronger second half?

您能否指導我們完成您需要做哪些正確的事情才能實現該指導或更強大的下半年？

Yes.

是的。

Thank you for the question.

感謝你的提問。

So there are some assumptions.

所以有一些假設。

Let me break it down a little bit.

讓我稍微分解一下。

Licensing, of course, we already explained, so I don't have to go in much detail on that.

許可，當然，我們已經解釋過了，所以我不必詳細說明。

I think we're going to have $10 million a quarter for the next 2 quarters for the second half that is each of the quarter.

我認為我們將在接下來的兩個季度中每季度獲得 1000 萬美元，即每個季度的下半年。

And that has something to do with the fact that we're not going to monetize a push on the monetization effort and licensing effort while we're going through this negotiation on selling the portion of the patents that is on those areas of business that we no longer actively involved with.

這與這樣一個事實有關，即我們不會將推動貨幣化工作和許可工作貨幣化，而我們正在就出售我們在這些業務領域的專利部分進行談判。不再積極參與。

Regarding IoT, the only wild card, so to speak, is the chip shortage and the impact of that.

關於物聯網，可以說，唯一的外卡是芯片短缺及其影響。

From all the indicators, all the ups and downs and give and take, and we spoke to a lot of them, the OEMs, that North America seems to be getting better in Q3, Q4 as they compare to Q2.

從所有指標，所有的起起落落和給予和接受，我們與其中很多原始設備製造商進行了交談，與第二季度相比，北美在第三季度和第四季度似乎變得更好。

A good example would be Ford, we believe that they are improving.

一個很好的例子是福特，我們相信他們正在改進。

And GM also is -- although they're going to shut down a couple of factories in Q3.

通用汽車也是——儘管他們將在第三季度關閉幾家工廠。

But I think from a magnitude, it's improving versus the first half of the year.

但我認為從幅度上看，它與今年上半年相比正在改善。

So North America, you see it going back improving in the situation.

所以北美，你會看到情況有所改善。

Europe, however, still has about 10% to 15% impact of the production and so is Asia Pacific.

然而，歐洲仍然對生產產生約 10% 至 15% 的影響，亞太地區也是如此。

So net of all that, if we're in that range without any dramatic departure, then the numbers that we expected in the second half still holds.

因此，除此之外，如果我們在沒有任何戲劇性偏離的情況下處於該範圍內，那麼我們在下半年預期的數字仍然成立。

And a big part of that, of course, is we are winning some very strong design wins that bring us more developer seats, revenue as well as professional services revenue.

當然，其中很大一部分是我們贏得了一些非常強大的設計勝利，為我們帶來了更多的開發者席位、收入以及專業服務收入。

So I'm pretty comfortable with that.

所以我對此很滿意。

On Cyber, it really is a function of one thing.

在網絡上，它確實是一件事的功能。

I mean I've got 2 considerations in there.

我的意思是我有兩個考慮因素。

One thing, the major part is we have a lot of salespeople joined us in the last couple of 2, 3 quarters.

有一件事，主要是我們有很多銷售人員在過去的 2、3 個季度加入了我們。

We have a pretty young pipeline.

我們有一個非常年輕的管道。

The activities in the pipeline has been very strong in the last quarter and 2. So putting that together is actually a good thing, except that it might take time to ramp up.

在上一季度和第二季度，管道中的活動非常強勁。因此，將這些放在一起實際上是一件好事，只是可能需要時間來增加。

And so the rate of conversion of the pipeline with a newer sales force, it's the only wild card, and it's something that we have to manage very carefully.

因此，新銷售隊伍的管道轉換率是唯一的不確定因素，我們必須非常謹慎地管理。

But the good news there is, even if it takes longer, these things -- these businesses don't tend to go away.

但好消息是，即使需要更長的時間，這些事情——這些業務不會消失。

So -- we're -- so that's the assumption that we made in our forecast.

所以 - 我們是 - 這就是我們在預測中所做的假設。

The other one is, in Q4, we got a couple of large government deals with some of the government, especially in North America, some of those needs to come to fruition.

另一個是，在第四季度，我們與一些政府達成了幾項大型政府交易，特別是在北美，其中一些需要取得成果。

And those are -- and then we expect them to.

這些是 - 然後我們期望他們這樣做。

So those are the basis of our forecast.

所以這些是我們預測的基礎。

Yes, second half seems to be a bigger number, a stronger number than the first half.

是的，下半場似乎是一個更大的數字，比上半場更強的數字。

That's correct.

這是正確的。

Great.

偉大的。

And just my follow-up question.

只是我的後續問題。

Congrats on adding John Giamatteo to the team.

恭喜您將 John Giamatteo 添加到團隊中。

Is he going to run kind of the same playbook that was getting put in place for all the team?

他是否會執行為所有團隊制定的相同劇本？

Or do you expect further changes with the rotation of such a key position and did that impact your guidance thoughts at all?

或者您是否期望隨著這樣一個關鍵職位的輪換會發生進一步的變化，這是否會影響您的指導思想？

It's slightly early to tell, but I'm dying to hear his experience of growth because he has been able to grow both the consumer business and the enterprise business at McAfee, when he was running the -- as he was the President in McAfee and the CRO.

現在說還為時過早，但我很想听聽他的成長經歷，因為當他擔任 McAfee 總裁時，他已經能夠在 McAfee 發展消費者業務和企業業務首席風險官。

So I'm sure he will make some changes.

所以我相信他會做出一些改變。

I'm doubtful that everything will remain exactly the same.

我懷疑一切都會保持原樣。

On the other hand, the investment that we made in channel, the investment we made in pipeline, the investment we make in partners and engineering and the investment we make in hiring more sales heads and we have a couple of quarters ago, we hired a pretty good head of professional services.

另一方面，我們在渠道上的投資，我們在管道上的投資，我們在合作夥伴和工程方面的投資以及我們在招聘更多銷售主管方面的投資，我們有幾個季度前，我們聘請了一個相當不錯的專業服務負責人。

I'm sure that he will take full advantage of those.

我相信他會充分利用這些。

Your next question comes from Daniel Chan with TD Securities.

您的下一個問題來自道明證券的 Daniel Chan。

You mentioned earlier that typically your QNX revenue has a higher mix of royalty versus development.

您之前提到，通常您的 QNX 收入具有更高的版稅與開發組合。

Should we expect a higher mix of development for the next couple of years as electronics and software development become ramped up at a lot of these OEMs?

隨著電子和軟件開發在許多這些原始設備製造商處加速，我們是否應該期待未來幾年更高的開發組合？

I think you should expect probably for this year.

我想你應該期待今年。

And I think -- I don't think in the future years, it will continue to be the same.

而且我認為 - 我不認為在未來幾年，它會繼續保持不變。

The reason I say this is because remember, I should be seeing some of the production revenue coming from ADAS, assuming the part shortages issue started to improve, and it has to improve over time.

我之所以這麼說是因為請記住，假設零件短缺問題開始改善，並且必須隨著時間的推移而改善，我應該會看到一些來自 ADAS 的生產收入。

It's a huge industry and semiconductor -- for the whole semiconductor industry, auto is not really that big.

這是一個巨大的產業和半導體——對於整個半導體產業來說，汽車並沒有那麼大。

It's not 100%.

這不是 100%。

Obviously, it's probably like more like 15% of the market.

顯然，它可能更像是市場的 15%。

So it will address that.

所以它將解決這個問題。

And so I expect that our royalty rate to go back into some kind of growth, especially with all the design wins that we had in the last couple of 2, 3 years.

因此，我預計我們的版稅率會恢復到某種程度的增長，尤其是在過去 2、3 年我們贏得的所有設計勝利之後。

Okay.

好的。

That's helpful.

這很有幫助。

Can you remind us how you sell these development seats?

您能提醒我們您是如何銷售這些開發席位的嗎？

Is it more like a perpetual license?

它更像是永久許可證嗎？

Or is there a recurring proportion or a portion to that as well?

或者是否也有重複出現的比例或一部分？

It's more like a perpetual license.

它更像是永久許可證。

It's selling seats.

是賣座位的。

Okay.

好的。

And do you kind of look at 20% maintenance?

你會看 20% 的維護嗎？

Yes.

是的。

Yes, we get upgrade and maintenance on it.

是的，我們對其進行升級和維護。

Yes.

是的。

Okay.

好的。

One more, if I may.

如果可以的話，再來一張。

Cyber Security ARR was flat sequentially while you've been saying that the pipeline has been growing.

網絡安全 ARR 環比持平，而您一直在說管道一直在增長。

Just wondering when we're going to start seeing that metric start to pick up whether there is some seasonality built into third quarter as well?

只是想知道我們什麼時候開始看到該指標開始回升，第三季度是否也有一些季節性因素？

Yes, that's a good question.

是的，這是個好問題。

I asked that question also, and they always give me the product mix answer that some of them we took earlier upfront because of rev rec policy.

我也問過這個問題，他們總是給我產品組合的答案，因為 rev rec 政策，我們之前提前接受了其中一些答案。

I expect for this full sales -- and I said it in the past, by the way.

我期待這次全面銷售——順便說一句，我過去說過。

So it's very consistent.

所以非常一致。

Midyear next year is where I'm going to see some -- hoping to see some strong growth of all the investments we have made, the pipeline growing, the new sales and so forth.

明年年中我會看到一些——希望看到我們所做的所有投資、管道增長、新銷售等等都有一些強勁的增長。

Your next question comes from Paul Treiber with RBC Capital Markets.

您的下一個問題來自 RBC Capital Markets 的 Paul Treiber。

First question on the patent sale.

關於專利銷售的第一個問題。

I know you can't say much, just given you're in the negotiations.

我知道你不能說太多，因為你正在談判中。

But in your statement, you mentioned that the negotiations are going well.

但在你的發言中，你提到談判進展順利。

But then you also indicated that if it doesn't close, you have other options.

但隨後您還表示，如果它不關閉，您還有其他選擇。

Just could you bridge between those 2 statements because they're actually quite far apart from a tone perspective?

您能否在這兩個陳述之間架起橋樑，因為它們實際上與語氣觀點相去甚遠？

I think that's a good one.

我認為這是一個很好的。

I'm glad you caught it.

我很高興你抓住了它。

Yes, it is going well.

是的，進展順利。

I fully expect to finish it this quarter, but I'm kind of waiting.

我完全希望在本季度完成它，但我有點在等待。

I know a lot of our investors are too.

我知道我們的很多投資者也是。

It just -- I'm not bringing anything on anybody.

它只是——我不會給任何人帶來任何東西。

And maybe we have too many lawyers assigned to this.

也許我們為此分配了太多律師。

Sorry, lawyers.

對不起，律師們。

I doubted you all.

我懷疑你們所有人。

But the key is, it's a complex and big portfolio.

但關鍵是，這是一個複雜而龐大的投資組合。

It's rightfully so that they have done a lot of due diligence.

這是理所當然的，他們做了很多盡職調查。

And those things are now completed.

而這些事情現在都完成了。

By the way, all the due diligence are completed.

順便說一句，所有的盡職調查都完成了。

And then we have a lot of time spent on definitive agreement negotiation.

然後我們有很多時間花在最終的協議談判上。

And then by and large, with the exception of 1 or 2 items, we're done on that.

然後總的來說，除了 1 或 2 個項目外，我們已經完成了。

And then we have the purchase agreement.

然後我們有了購買協議。

And so it's just -- for me, it's been since last Christmas, it's coming up to next Christmas.

所以它只是 - 對我來說，從去年聖誕節開始，到明年聖誕節。

So I basically kind of draw the line in the sand and say, I can't just stop licensing the business needs to either move on one direction or the other.

所以我基本上是在沙子上劃清界限，然後說，我不能停止許可業務需要向一個方向或另一個方向發展。

And then there are other interested parties in calling.

然後還有其他感興趣的各方在打電話。

And so we are not entertaining them because, as you recall, during a period of time, not long in the past, we were in exclusive discussion with these people.

所以我們沒有招待他們，因為，正如你所記得的，在不久之前的一段時間內，我們與這些人進行了獨家討論。

So I can't really entertain a third party.

所以我不能真正招待第三方。

So my only point is if you want to put percentage, waiting percentage, I put 80-20.

所以我唯一的觀點是，如果你想輸入百分比，等待百分比，我輸入 80-20。

I put 80%, we get it done this quarter.

我投入了 80%，我們將在本季度完成。

Did that help?

那有幫助嗎？

Yes, that's very helpful.

是的，這很有幫助。

I wasn't going to ask a percentage, but I'm glad you throwed it out.

我不打算問百分比，但我很高興你把它扔掉了。

Switching back to the business.

切換回業務。

Just in regards to 24 out of 25 EV OEMs, how do we think about the magnitude or size of these wins?

僅就 25 家 EV OEM 中的 24 家而言，我們如何看待這些勝利的規模或規模？

Like you find like EVs, the ASP is higher than a gasoline vehicle.

就像您發現的電動汽車一樣，ASP 高於汽油車。

Is that what you're seeing generally?

你看到的一般是這樣嗎？

No.

不。

Usually, the ASP ties to functionality.

通常，ASP 與功能相關聯。

If you look at functionality like IVI, it's usually low single-digit dollars per royalty.

如果您查看 IVI 之類的功能，通常每個版稅只需低個位數的美元。

But if you look at ADAS and clusters, they are usually high single digit pushing into double-digit per car.

但如果你看看 ADAS 和集群，它們通常是高個位數，每輛車都達到兩位數。

So it's not gasoline versus electric vehicle.

因此，這不是汽油車與電動車之爭。

And so the electric vehicle have one advantage, which is a more component of highly complex ECUs.

因此，電動汽車有一個優勢，那就是高度複雜的 ECU 的更多組件。

When you have highly complex issue, that's 2 things for us.

當您遇到高度複雜的問題時，這對我們來說是兩件事。

Number one, because we have the highest certification in security and safety, when you have a high complex ECU like a compute engine in a car, they tend to go after that most secure and most safe products.

第一，因為我們在安全性和安全性方面擁有最高的認證，當您擁有像汽車中的計算引擎這樣的高度複雜的 ECU 時，他們往往會追求最安全和最安全的產品。

So we have an actual advantage to win it.

所以我們有一個實際的優勢來贏得它。

That's number one.

那是第一名。

Number two, they used to -- they tend to use very complex algorithm and that will help us sometimes selling more than even one copy for ECU.

第二，他們過去常常——他們傾向於使用非常複雜的算法，這將有助於我們有時為 ECU 銷售超過一份副本。

So -- and when you sell these complex ECUs with ADAS or clusters or hypervisor, typically, the ASP is on a higher end.

所以——當您銷售這些帶有 ADAS 或集群或管理程序的複雜 ECU 時，通常情況下，ASP 處於較高端。

So it's really more function that drive ASP versus EV or gas.

因此，與 EV 或汽油相比，推動 ASP 的功能確實更多。

Okay.

好的。

That's helpful.

這很有幫助。

And then one follow-up.

然後是一個後續。

It seems like BlackBerry QNX has good traction in the Chinese EV market.

黑莓 QNX 似乎在中國電動汽車市場具有良好的吸引力。

Could you speak to like does the pricing for that market, is it materially different than other OEMs or other geographies for QNX?

您能否談談該市場的定價，它與 QNX 的其他 OEM 或其他地區是否存在重大差異？

No, no material difference.

不，沒有本質區別。

So also other things you need to be aware of that a lot of those Chinese players actually have design center in the United States.

還有其他一些你需要注意的事情，很多中國玩家實際上在美國都有設計中心。

So the market price is the market price because they are all -- a lot of them are all in the U.S. But of course, we have a Chinese team and deal with the customers over there and the factories over there and so forth.

所以市場價格就是市場價格，因為它們都是——很多都在美國。當然，我們有一個中國團隊，與那裡的客戶和那裡的工廠打交道等等。

But they're not materially different.

但它們並沒有本質上的不同。

Your next question comes from Todd Coupland with CIBC.

您的下一個問題來自 CIBC 的 Todd Coupland。

I'll follow up on the EV line of questioning.

我將跟進 EV 的提問。

So that 25th OEM, which you don't have, they're always bringing out new vehicles.

因此，您沒有的第 25 家 OEM，他們總是推出新車。

Many new vehicles that are selling well and at lower prices, et cetera.

許多新車銷售良好且價格較低，等等。

What are the chances of you getting into that OEM?

你進入那個 OEM 的機會有多大？

My team promised me right up and down there working it.

我的團隊向我承諾，我會在那裡上下工作。

And so I'm hopeful that I -- the fact that they typically like to do complete vertical integrations, it will still require work from us.

所以我希望我 - 他們通常喜歡做完整的垂直整合，這仍然需要我們的工作。

But we're working it.

但我們正在努力。

Yes.

是的。

Okay.

好的。

And then also on the patent sale.

然後也是專利銷售。

There's been press articles that in the trade press that you more or less have settled on a price, and it was really the complexity of all the participants in a, I guess, a buyer's group, if you will.

有新聞文章在貿易媒體上或多或少地確定了一個價格，如果你願意的話，我猜這是一個買家群體中所有參與者的複雜性。

Any comments on whether that is indeed correct.

關於這是否確實正確的任何評論。

And it really is these details with the various parties that has yet to get worked out.

真正有待解決的是各方的這些細節。

I can't comment on ongoing negotiations because it doesn't help me or whoever.

我無法對正在進行的談判發表評論，因為這對我或任何人都沒有幫助。

I would say to you that we have settled on the price that I would agree -- I would confirm.

我會告訴你，我們已經確定了我會同意的價格——我會確認。

Everything else, I can really comment on.

其他的，我真的可以評論。

Your next question comes from Paul Steep with Scotia.

您的下一個問題來自與 Scotia 的 Paul Steep。

So 2 quick ones.

所以2個快速的。

The first one, maybe talk to us about how you're thinking about monetizing IVY and how those thoughts have evolved, and then I'll toss out my quick follow-ups.

第一個，也許和我們談談你如何考慮通過 IVY 獲利以及這些想法是如何演變的，然後我會拋出我的快速跟進。

I'm sorry, how do I monetize...

對不起，我如何賺錢...

IVY.

常春藤。

IVY, okay.

艾維，好的。

Well, there is -- it's a work in progress, but I have a lot of ideas.

嗯，有 - 這是一項正在進行的工作，但我有很多想法。

First of all, I wanted something that are usage-based and recurring base.

首先，我想要一些基於使用和經常性基礎的東西。

And that's the revenue model.

這就是收入模式。

And if you look at what IVY really is, it's the collateral center there, the ability to analyze it, push them on to edge, push them on to cloud, by AI to it and feed it back to the OEM or application providers.

如果你看看 IVY 到底是什麼，它就是那裡的附屬中心，能夠分析它，將它們推送到邊緣，將它們推送到雲端，通過 AI 將其反饋給 OEM 或應用程序提供商。

And one of the reasons why we spent so much time on the application side, a quarter ago, we have an intelligent battery management systems for performance and for managing anything regarding -- related to a battery and the usage of it.

一個季度前，我們在應用程序方面花了這麼多時間的原因之一是，我們有一個智能電池管理系統，用於性能和管理與電池及其使用相關的任何事情。

And this past quarter, we turn our attention to have an application that turn your vehicle into a wallet basically.

在過去的這個季度，我們將注意力轉向了一款可以將您的車輛變成錢包的應用程序。

And it's a huge market.

這是一個巨大的市場。

For those of you who follow this because the fleet cars, especially the trucks, the Amazon delivery trucks or the FedEx or UPS or cargoes or the commercial trucks, they -- if they get equipped with IVY, there are tons of sensing data between security and productivity and the ability to not having to use a third party to do payment and so forth are all very positive and cost-effective solution from the truck owner and the truck runners.

對於那些因為車隊汽車，尤其是卡車、亞馬遜送貨卡車、聯邦快遞或 UPS 或貨物或商用卡車而關注這一點的人，他們——如果他們配備了 IVY，那麼安全之間就會有大量的傳感數據和生產力以及不必使用第三方進行支付的能力等等都是來自卡車所有者和卡車運營商的非常積極和具有成本效益的解決方案。

The -- also, as I mentioned earlier, the OEM has always also find -- tried to find ways to enrich their source of revenue after they sold the car.

此外，正如我之前提到的，原始設備製造商也一直在尋找——在他們賣掉汽車後，試圖找到增加收入來源的方法。

And this could -- IVY may be able to facilitate some of these applications.

這可能 - IVY 可能能夠促進其中一些應用程序。

So that's kind of where I'm really focused on to create usage base, whether it's app-based or functional-base use cases.

所以這就是我真正專注於創建使用基礎的地方，無論是基於應用程序還是基於功能的用例。

And in some cases, I could share with the third parties, I could share with banks, I could share the revenue with OEMs, and these are all possibilities.

在某些情況下，我可以與第三方分享，我可以與銀行分享，我可以與原始設備製造商分享收入，這些都是可能的。

So that's how we focus on monetizing IVY.

這就是我們專注於通過 IVY 獲利的方式。

Great.

偉大的。

The 2 quick follow-ups, I guess, for yourself, for Steve.

兩個快速跟進，我猜，為了你自己，為了史蒂夫。

First one would just relate to your commentary about continuing to invest in sales force.

第一個與您關於繼續投資於銷售人員的評論有關。

Should we think of the numbers that you've sort of added this quarter in aggregate dollars sort of reflective throughout the remainder of the year?

我們是否應該考慮一下您在本季度添加的總美元數，以反映今年剩餘時間的情況？

And then the other sort of clarification not asking you about a pending transaction, but if a patent business didn't exist at BlackBerry, how should we think about stranded cost in the SG&A line?

然後是另一種澄清，不是詢問您關於未決交易的問題，而是如果黑莓不存在專利業務，我們應該如何考慮 SG&A 線的擱淺成本？

Or is it effectively pure profit that we just see maybe move off if that business was not to be there?

或者，如果該業務不存在，我們剛剛看到的純利潤可能會消失嗎？

That's a very good question.

這是一個非常好的問題。

I need to get a clarification on the first question.

我需要澄清第一個問題。

What was the -- can you repeat your first question?

什麼是——你能重複你的第一個問題嗎？

Yes, you talked about adding more sales headcount.

是的，您談到了增加更多的銷售人員。

I'm just sort of looking at the pacing of what you've done in terms of investment.

我只是在看你在投資方面所做的事情的節奏。

Is that already sort of in the envelope?

那已經在信封裡了嗎？

Or you're thinking about stepping on the gas is a lot harder in your EV as you continue to win deals?

或者您正在考慮在您繼續贏得交易時，在您的 EV 中踩油門會變得更加困難？

Right.

正確的。

Right.

正確的。

We have made a -- that's a very good question.

我們提出了一個非常好的問題。

So as you all know me, this -- I've been here for 7 years, and I've always been focused on making money, running a profitable business.

所以你們都知道我，我在這裡已經 7 年了，我一直專注於賺錢，經營一家盈利的企業。

And so on the other hand, in the last year, I have recognized that the business needs investment to step on the gas, you use the word.

另一方面，在去年，我已經認識到業務需要投資來踩油門，你用這個詞。

And so for the time being, for the -- and we have done that in the last 2 quarters or 3 quarters.

因此，就目前而言，我們已經在過去的兩個季度或三個季度中做到了這一點。

But for the time being, I'm not going to be so focused on loss versus profit, as long as it's manageable, meaning that it's not going to be outrageous and it's not going to cure a lot of my cash or burn a lot of my cash.

但就目前而言，我不會那麼關注虧損與利潤，只要它是可控的，這意味著它不會太離譜，也不會治愈我的很多現金或燒掉很多我的現金。

Then we are going to step on the gas and continue hiring and continue to increase.

然後我們將踩油門繼續招聘並繼續增加。

And the idea is since we now have the product and we could generate the pipeline, if I could close the pipeline with more feet on the streets and channel partners and so forth, it will help me grow the business and then that will then create the profit that I needed to offset a very profitable source of revenue, which was licensing.

這個想法是，因為我們現在有了產品，我們可以生成管道，如果我可以在街道和渠道合作夥伴更多的腳下關閉管道等等，它將幫助我發展業務，然後這將創建我需要的利潤來抵消一個非常有利可圖的收入來源，即許可。

And licensing, as you all know, I'm not getting the valuation of the licensing, at least recognition of my stock price and partly because there's a slumpy.

和許可，你們都知道，我沒有得到許可的估值，至少是對我的股價的認可，部分原因是因為股價低迷。

And a lot of you have expressed that you actually don't know how to measure and value that and you don't know how to think about the growth part of it.

你們中的很多人都表示，你實際上不知道如何衡量和評估它，你不知道如何考慮它的增長部分。

So that's all fair.

所以這一切都是公平的。

So I believe that while we could -- while we have very fresh set of portfolios with good average life spend left in the portfolio that we should monetize it one time, take that proceeds to step on the gas and then invest into a Cyber business, which we know there's a high growth, and we know we caught up in the product gap.

所以我相信，雖然我們可以——雖然我們有一組非常新鮮的投資組合，投資組合中還剩下良好的平均壽命支出，但我們應該有一次將其貨幣化，利用這些收益踩油門，然後投資網絡業務，我們知道這是一個高增長，我們知道我們趕上了產品差距。

And then also enhance the goal of IoT and invest in IVY, which is the future revenue source, it could be significant.

然後還要加強物聯網的目標並投資於IVY，這是未來的收入來源，它可能意義重大。

And we have a great partner in Amazon there.

我們在亞馬遜有一個很好的合作夥伴。

So those are all, I believe, are positive value creation for BlackBerry.

因此，我相信，這些都是為黑莓創造積極價值。

That concludes the Q&A session.

問答環節到此結束。

I would like to turn the call back over to John Chen, Executive Chair and CEO of BlackBerry for closing remarks.

我想把電話轉回給黑莓執行主席兼首席執行官 John Chen 做閉幕詞。

Okay.

好的。

Well, thank you, Ashley.

好吧，謝謝你，阿什利。

And I thank everybody for joining us today.

我感謝大家今天加入我們。

And before I end the call, I'd like to remind you that we actually have our 8th Annual BlackBerry Security Summit hosted virtually on October 13.

在結束通話之前，我想提醒您，我們實際上在 10 月 13 日舉行了第 8 屆年度 BlackBerry 安全峰會。

The event will feature a live and on-demand section, including keynotes, addresses from BlackBerry executive customer-led case study, insight from -- into the cyber security and IoT technology landscape.

該活動將設有直播和點播部分，包括主題演講、黑莓高管以客戶為主導的案例研究的演講，以及對網絡安全和物聯網技術領域的洞察。

It's free to register for all of you.

為大家免費註冊。

And if you haven't already, and I encourage you to do so.

如果你還沒有，我鼓勵你這樣做。

Otherwise, a replay of the event will also be available through our Investor Relations website.

否則，也將通過我們的投資者關係網站重播該活動。

Thanks again, and see you next time.

再次感謝，下次再見。

I hope to see you in person some time.

我希望有一天能親自見到你。

Take care.

小心。

This concludes today's call.

今天的電話會議到此結束。

Thank you for your participation.

感謝您的參與。