BlackBerry Ltd (BB) 2021 Q2 法說會逐字稿

Good morning, and welcome to the BlackBerry Second Quarter Fiscal Year 2021 Results Conference Call. My name is James, 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'd now like to turn the call over to Tim Foote, Investor Relations. Please go ahead.

早上好，歡迎參加 BlackBerry 2021 財年第二季度業績電話會議。我的名字是詹姆斯，我將成為你今天電話會議的主持人。 （操作員說明）作為提醒，正在錄製此會議以供重播。我現在想把電話轉給投資者關係部的 Tim Foote。請繼續。

Thank you, James. Good morning, and welcome to BlackBerry's Second Quarter Fiscal 2021 Earnings Conference Call. With me today on the call are Executive Chair and Chief Executive Officer, John Chen; and Chief Financial Officer, Steve Rai.

謝謝你，詹姆斯。早上好，歡迎參加 BlackBerry 2021 財年第二季度財報電話會議。今天與我通話的是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, and Steve will review the financial results. We will then open the call for a brief Q&A session.

在我閱讀我們關於前瞻性陳述的警示說明後，約翰將提供業務更新，史蒂夫將審查財務結果。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. A replay will also be available on the blackberry.com website.

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本次電話會議。 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 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.

我們今天將做出的一些陳述構成前瞻性陳述，並且是根據適用的美國和加拿大證券法的安全港條款做出的。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. 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, including the COVID-19 pandemic.

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

您不應過分依賴公司的前瞻性陳述。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 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 blackberry.com websites.

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。有關我們的 GAAP 和非 GAAP 數字之間的對賬，請參閱今天早些時候發布的收益新聞稿和補充，這些信息可在 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。

Thanks, Tim. Good morning, everybody, and thank you for joining us, and I hope everybody is safe and well. This past quarter, we delivered strong revenue and EPS results, beating expectations, despite of the continued challenge related to the COVID-19.

謝謝，蒂姆。大家早上好，感謝你們加入我們，我希望每個人都平安無事。儘管與 COVID-19 相關的挑戰持續存在，但在上個季度，我們仍實現了強勁的收入和每股收益結果，超出了預期。

I will start with financial highlights in the quarter and then move on to the business commentary. As usual, I will reference our financial performance in the non-GAAP numbers.

我將從本季度的財務亮點開始，然後轉到業務評論。像往常一樣，我將在非公認會計準則數字中引用我們的財務業績。

Blackberry report total revenue of $266 million, increasing both sequentially and year-over-year. The core Spark platform performs well, maintaining the work-from-anywhere momentum from Q1. QNX continued to be a negative -- to be negatively impacted by the temporary slowdown in the auto production but we are seeing signs of recovery, more of this later.

黑莓報告總收入為 2.66 億美元，環比和同比均增長。核心 Spark 平台表現良好，保持了第一季度隨時隨地工作的勢頭。 QNX 繼續是負面的——受到汽車生產暫時放緩的負面影響，但我們看到了復甦的跡象，稍後會更多。

As we mentioned during our first quarter earnings call, we anticipated licensing to have a strong second quarter, and it did, reporting revenue of $108 million. Second quarter total company billings showed strong sequential growth in all parts of the business, except for QNX, which remained flat sequentially. Gross margin increased by 6 percentage points sequentially to 78% due to the revenue mix. Earnings per share came in at $0.11. Cash generated from operations was $31 million. Total ending cash and investment as of August 31 was $977 million, 9 7 7.

正如我們在第一季度財報電話會議中提到的那樣，我們預計第二季度許可業務將表現強勁，而且確實如此，報告收入為 1.08 億美元。第二季度公司總賬單在所有業務領域都顯示出強勁的環比增長，但 QNX 除外，其環比持平。由於收入組合，毛利率環比增長 6 個百分點至 78%。每股收益為 0.11 美元。運營產生的現金為 3100 萬美元。截至 8 月 31 日，期末現金和投資總額為 9.77 億美元，9 7 7。

The company continues to be financially healthy and in a strong position to focus on our long-term strategy. Let me start now by providing business commentary with the Software and Services group. Revenue for the quarter was $158 million. ARR was approximately 486, $486 million.

公司的財務狀況繼續保持健康，並處於專注於我們的長期戰略的有利地位。現在讓我從提供軟件和服務組的業務評論開始。本季度收入為 1.58 億美元。 ARR 約為 486 美元，即 4.86 億美元。

Dollar-based net retention was 92%. Net customer churn was approximately 3%. Billings growth was sequential -- was strong sequentially at 23%. As I mentioned earlier, the core component of the Software and Services group is Spark. The Spark Suites combines Blackberry Unified Endpoint Management, the UEM, and Unified Endpoint Security, the UES. We combined the 2 products in one single pane of glass.

基於美元的淨留存率為 92%。淨客戶流失率約為 3%。比林斯的增長是連續的——連續強勁，達到 23%。正如我之前提到的，軟件和服務組的核心組件是 Spark。 Spark 套件結合了 Blackberry Unified Endpoint Management、UEM 和 Unified Endpoint Security、UES。我們將 2 種產品組合在一塊玻璃中。

The Spark Suites was launched at the end of our first fiscal quarter, and since then, customer interest has been strong and demand is growing. In the quarter, a number of high-profile customer purchases our Spark Suite, including the United States Air Force, which upgraded over 90,000 users from UEM to a Spark Suite.

Spark Suites 在我們第一財季末推出，從那時起，客戶的興趣一直很強烈，需求也在增長。在本季度，許多知名客戶購買了我們的 Spark 套件，其中包括美國空軍，該公司將 90,000 多名用戶從 UEM 升級到了 Spark 套件。

Other wins including U.K. Ministry of Defense, the Royal Canadian Mint, Banco de México, New Zealand Ministry of Foreign Affairs -- Foreign Affairs and Trade, sorry. New Zealand Ministry of Foreign Trade, Rolls Royce, Lloyds Bank, Société Générale and Mitsubishi, just to name a few of them.

其他勝利包括英國國防部、加拿大皇家造幣廠、墨西哥銀行、新西蘭外交部——外交和貿易部，對不起。新西蘭外貿部、勞斯萊斯、勞埃德銀行、法國興業銀行和三菱，僅舉幾例。

Given this early success in upgrading customers to our Spark Suites, we are optimistic about being able to secure a significant number of further upgrades from the rest of our installed base. In parallel, we are also aggressively targeting new logos and more on that later also.

鑑於在將客戶升級到我們的 Spark 套件方面取得的早期成功，我們對能夠從我們的其他已安裝基礎中獲得大量進一步升級感到樂觀。與此同時，我們也在積極地瞄準新的標誌，以後還會更多。

BlackBerry continues to have the trust of governments around the world. During the quarter, our UEM suite was added to the Department of Defense Information Network Approved Products List, DoDIN APL. BlackBerry is the only UEM vendor that has achieved this level of approval today. This achievement is based on the completion of cybersecurity and interoperability certifications.

黑莓繼續得到世界各國政府的信任。在本季度，我們的 UEM 套件被添加到國防部信息網絡批准產品列表（DoDIN APL）中。黑莓是目前唯一獲得此級別認可的 UEM 供應商。這一成就是基於完成網絡安全和互操作性認證。

These approvals will provide us better assets and a more streamlined approval process. This should naturally lead to a greater revenue opportunity going forward. The latest release of UEM has also recently achieved a very important NIAP certification, accreditation.

這些批准將為我們提供更好的資產和更簡化的批准流程。這自然會帶來更大的收入機會。最新發布的 UEM 最近也獲得了一項非常重要的 NIAP 認證，認可。

We have recognized the strong industry-wide demand for managed detect and response services and -- known as MDR. Frost & Sullivan recently estimated that MDR market to have a CAGR, a compounded annual growth rate of 16% and for our annual revenue to reach about $2 billion by about 2024.

我們已經認識到全行業對託管檢測和響應服務的強烈需求，並且被稱為 MDR。 Frost & Sullivan 最近估計，MDR 市場的複合年增長率為 16%，到 2024 年左右，我們的年收入將達到約 20 億美元。

Our MDR offering, we call it Guard, while relatively new, continues to perform well. To take advantage of this opportunity, we plan to greatly enhance our channel programs. Certified partners will be able to deliver managed service and threat hunting on the AI-driven cybersecurity solution, greatly increasing our scale.

我們的 MDR 產品，我們稱之為 Guard，雖然相對較新，但繼續表現良好。為了利用這個機會，我們計劃大大加強我們的渠道計劃。經過認證的合作夥伴將能夠在人工智能驅動的網絡安全解決方案上提供託管服務和威脅搜尋，從而大大增加我們的規模。

This will differentiate us against our major competitors, who prefer to provide all the services themselves.

這將使我們與我們的主要競爭對手區分開來，後者更願意自己提供所有服務。

Moving on to BTS. As you know, much of the BTS business is reliant on the strength of the auto industry. The largest piece of the BTS business is QNX. We have recently seen some recovery in the production volumes from the very low level during our first fiscal quarter. This makes us optimistic that the BTS business will show sequential revenue improvement and could be close to normal early next fiscal year.

繼續前往 BTS。如您所知，BTS 的大部分業務都依賴於汽車行業的實力。 BTS 業務中最大的一塊是 QNX。我們最近看到產量從第一財季的極低水平有所回升。這使我們樂觀地認為，BTS 業務將出現連續收入增長，並可能在下個財年初接近正常水平。

Despite auto production volumes being down and moderate, QNX continue to win new designs and develop significant partnerships. In the quarter, we have 19 new design wins, 5 in auto and 14 in a generally embedded market, we call it GEM. Alongside infotainment, the new auto wins in the quarter include design for digital cockpit, instrument cluster and domain controller, which all typically have higher ASPs or average selling price. The new GEM wins include design for next-generation blood analyzer, next-generation factory robotics and also with Schneider Electric for a solar solution gateway.

儘管汽車產量下降且適中，但 QNX 繼續贏得新設計並發展重要的合作夥伴關係。本季度，我們贏得了 19 項新設計，其中 5 項來自汽車，14 項來自通用嵌入式市場，我們稱之為 GEM。除了信息娛樂，本季度的新汽車還包括數字駕駛艙、儀錶盤和域控制器的設計，這些產品通常都有更高的平均售價或平均售價。新的 GEM 贏得包括下一代血液分析儀、下一代工廠機器人的設計，以及與施耐德電氣合作的太陽能解決方案網關。

Furthermore, we are pleased to announce that together with Desay SV Automotive, we have developed the autonomous driving domain controller for Xpeng. Xpeng Motor new -- well, it's a model number, Motor's new P7. It's a high-performance electric vehicle.

此外，我們很高興地宣布，我們與德賽西威合作，為小鵬開發了自動駕駛域控制器。 Xpeng Motor new——嗯，這是一個型號，Motor 的新 P7。這是一款高性能電動汽車。

Xpeng, as some of you may know, that it has recently been listed successfully on the New York Stock Exchange, and it's one of the China's leading electric vehicle manufacturers. QNX will also be used by StradVision, an industry leader in AI-based camera perception technology in a number of the next-generation ADAS, that's advanced driver assist, and autonomous vehicle system from South Korean automakers. QNX remains in a very strong position for the medium and long term despite the short-term macro challenges.

眾所周知，小鵬汽車最近在紐約證券交易所成功上市，是中國領先的電動汽車製造商之一。 QNX 也將被 StradVision 使用，StradVision 是基於 AI 的攝像頭感知技術的行業領導者，用於許多下一代 ADAS（高級駕駛員輔助系統）和韓國汽車製造商的自動駕駛汽車系統。儘管面臨短期宏觀挑戰，QNX 在中長期仍處於非常強勢的地位。

I'm moving on to AtHoc, our critical event management platform that helps protect people and keep businesses up and running. This market is large and growing, and our technology is already well proven in the federal government sector.

我將繼續使用 AtHoc，這是我們的關鍵事件管理平台，可幫助保護人員並保持業務正常運行。這個市場龐大且不斷增長，我們的技術已經在聯邦政府部門得到充分證明。

We see significant growth opportunities within both federal as well as state government as well as in the enterprise. New wins in the quarter include the New York Stock Exchange, the Office of the Director of National Intelligence and the Edmonton Police Service.

我們在聯邦和州政府以及企業中都看到了巨大的增長機會。本季度的新勝利包括紐約證券交易所、國家情報總監辦公室和埃德蒙頓警察局。

During the quarter, we were awarded a new authority to operate or ATO for the U.S. Department of Transportation, bringing the total to 14 for the Blackberry AtHoc FedRAMP Cloud. This was also a strong quarter for our high security SecuSUITE Voice and messaging offerings, where we both strengthened our position in the United States and extended our leadership position in Germany.

在本季度，我們獲得了美國交通部的新運營授權或 ATO，使 Blackberry AtHoc FedRAMP Cloud 的總數達到 14 個。這也是我們高安全性 SecuSUITE 語音和消息傳遞產品的強勁季度，我們既鞏固了我們在美國的地位，又擴大了我們在德國的領導地位。

Major wins in the quarter included the United States Department of Homeland Security, the U.S. Internal Revenue Services and United States Federal Emergency Management Agency, FEMA. These contracts were properly awarded through our partner, CACI.

本季度的主要勝利包括美國國土安全部、美國國稅局和美國聯邦緊急事務管理局 (FEMA)。這些合同是通過我們的合作夥伴 CACI 正確授予的。

SecuSUITE also received a Government of Canada security certification, clearing the way for us to provide this technology to the Canadian government at large. Including Canada, Blackberry SecuSUITE Secusmart technology is now used by 17 governments around the world. We have spoken about our focus on go-to-market for some quarters now.

SecuSUITE 還獲得了加拿大政府的安全認證，為我們向整個加拿大政府提供這項技術掃清了道路。包括加拿大在內，Blackberry SecuSUITE Secusmart 技術現已被全球 17 個政府使用。我們已經談到了我們在幾個季度以來對上市的關注。

So go-to-market has many components and has taken time to get all of them optimized. Bringing in some new talent is just part of the process and we did that successfully, along with making sure mindset and incentives align to our growth plans.

因此，上市包含許多組件，並且需要時間來優化所有組件。引進一些新人才只是這個過程的一部分，我們成功地做到了這一點，同時確保思維方式和激勵措施與我們的增長計劃保持一致。

Equally as important, we have also revamped our customer success and marketing programs as well as our partnership and channel programs.

同樣重要的是，我們還改進了我們的客戶成功和營銷計劃以及我們的合作夥伴和渠道計劃。

A good example of the progress we have made, that I would like to cite, is in the channel program side. As you all recall, in our device days making hardware, we have strong relationship with telcos, and they are becoming increasingly interested now in our UEM, UES and AtHoc products. We recently announced a partnership with TELUS to resell and secure -- to secure AtHoc critical event management solution across Canada. This partnership adds to our previously announced partnership with Bell and Vodafone.

我想引用的我們取得的進展的一個很好的例子是在頻道節目方面。大家都記得，在我們製造硬件的設備時代，我們與電信公司有著密切的關係，他們現在對我們的 UEM、UES 和 AtHoc 產品越來越感興趣。我們最近宣布與 TELUS 建立合作夥伴關係，以轉售和保護加拿大的 AtHoc 關鍵事件管理解決方案。這種合作夥伴關係增加了我們之前宣布的與貝爾和沃達丰的合作夥伴關係。

So things are coming together nicely across all the components of our go to market. We are now seeing results and an increase in both business pipeline and new business pipeline and conversion rates.

因此，我們進入市場的所有組件都很好地融合在一起。我們現在看到了業務管道和新業務管道以及轉換率的結果和增長。

Moving on to the licensing and others. Revenue for the quarter was $108 million, as I mentioned earlier. The majority of licensing revenue comes from our IP licensing business.

繼續進行許可和其他。正如我之前提到的，本季度的收入為 1.08 億美元。大部分許可收入來自我們的知識產權許可業務。

So with that, let me turn the call over to Steve to provide more detail about our financial performance.

因此，讓我將電話轉給史蒂夫，以提供有關我們財務業績的更多詳細信息。

Thank you, John. My comments on our financial performance for the fiscal quarter will be in non-GAAP terms, unless otherwise noted. And also please refer to the supplemental table in the press release for the GAAP and non-GAAP details. We delivered second quarter non-GAAP total company revenue of $266 million and GAAP total company revenue of $259 million.

謝謝你，約翰。除非另有說明，否則我對本財季財務業績的評論將採用非公認會計原則。另請參閱新聞稿中的補充表格，了解 GAAP 和非 GAAP 詳細信息。我們實現了第二季度非 GAAP 公司總收入 2.66 億美元和 GAAP 公司總收入 2.59 億美元。

Second quarter total company gross margin was 78% versus the 75% reported in the second quarter of fiscal 2020. The increase is primarily due to the strong performance of our licensing business this quarter as expected.

第二季度公司總毛利率為 78%，而 2020 財年第二季度報告的毛利率為 75%。這一增長主要是由於本季度我們的許可業務如預期的那樣強勁表現。

Our non-GAAP gross margin includes software deferred revenue acquired but not recognized of $7 million and excludes stock compensation expense of $1 million. The second quarter operating expenses were $144 million. We continue to invest in our go-to-market strategy, as John described, and while at the same time, keeping control over operating expenses, given the level of uncertainty in the macro environment.

我們的非 GAAP 毛利率包括 700 萬美元的已收購但未確認的軟件遞延收入，不包括 100 萬美元的股票補償費用。第二季度運營費用為1.44億美元。正如約翰所說，我們將繼續投資於我們的上市戰略，同時考慮到宏觀環境的不確定性，保持對運營費用的控制。

In addition, our non-GAAP operating expenses exclude $32 million in amortization of acquired intangibles, $8 million in stock compensation expense, $3 million for software deferred commissions and expense acquired, $1 million in restructuring costs, and $18 million charge related to the fair value adjustment on the convertible debenture and $21 million impairment of long-lived assets related entirely to real estate. And given the recent experience in working from home, we identified efficiencies and how much office space we need going forward.

此外，我們的非公認會計原則運營費用不包括 3200 萬美元的收購無形資產攤銷、800 萬美元的股票補償費用、300 萬美元的軟件遞延佣金和收購費用、100 萬美元的重組成本以及與公允價值相關的 1800 萬美元費用可轉換債券的調整和完全與房地產相關的長期資產的 2100 萬美元減值。鑑於最近在家工作的經驗，我們確定了效率以及我們未來需要多少辦公空間。

Second quarter non-GAAP operating income was $63 million. And second quarter non-GAAP net income was $62 million. Non-GAAP earnings per share was $0.11 in the quarter and our adjusted EBITDA was $81 million this quarter, excluding the non-GAAP adjustments previously mentioned. This equates to an adjusted EBITDA margin of 30%.

第二季度非 GAAP 營業收入為 6300 萬美元。第二季度非 GAAP 淨收入為 6200 萬美元。本季度非 GAAP 每股收益為 0.11 美元，本季度調整後的 EBITDA 為 8100 萬美元，不包括前面提到的非 GAAP 調整。這相當於調整後的 EBITDA 利潤率為 30%。

I will now provide a breakdown of our revenue in the quarter. Software and Services revenue was $158 million. Software product revenue remained in the range of 80% to 85% of the total, with professional services comprising the balance. The proportion of software product revenue that was recurring remained approximately 90%, and licensing revenue was $108 million.

我現在將提供本季度收入的明細。軟件和服務收入為 1.58 億美元。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。經常性軟件產品收入的比例保持在 90% 左右，許可收入為 1.08 億美元。

Now moving to our balance sheet and cash flow performance. Total cash, cash equivalents and investments were $977 million at August 31, 2020, which was an increase of $22 million from May 31, 2020. Our net cash position was $362 million at the end of the quarter. Second quarter free cash flow before considering the impact of acquisition and integration expenses, restructuring costs and legal proceedings was $29 million and cash generated from operations was $31 million and capital expenditures were $2 million.

現在轉到我們的資產負債表和現金流表現。截至 2020 年 8 月 31 日，現金、現金等價物和投資總額為 9.77 億美元，比 2020 年 5 月 31 日增加了 2200 萬美元。截至本季度末，我們的淨現金頭寸為 3.62 億美元。在考慮收購和整合費用、重組成本和法律訴訟的影響之前，第二季度的自由現金流為 2900 萬美元，運營產生的現金為 3100 萬美元，資本支出為 200 萬美元。

That concludes my comments, and I'll now turn the call back to John for additional comments.

我的評論到此結束，我現在將電話轉回給 John 以獲取更多評論。

Thank you, Steve. After the end of the quarter, BlackBerry completed the early redemption of its existing $605 million of convertible debenture and issued a new debenture of $365 million. This represents a $240 million reduction in debt and interest expense savings of approximately $16 million on an annualized basis. The terms of the new convertible debenture are competitive with available terms for a marketed offering at the time the refinance was announced.

謝謝你，史蒂夫。本季度結束後，黑莓完成了其現有 6.05 億美元可轉換債券的提前贖回，並發行了 3.65 億美元的新債券。這意味著每年減少約 1600 萬美元的債務和利息支出減少 2.4 億美元。新可轉換債券的條款與宣布再融資時的市場發售條款相比具有競爭力。

The Board undertook a lengthy process to consider a range of refinancing options and sought independent financial and legal advice. The level of potential dilution before and after the refinance -- sorry, and after the real financing is essentially the same. The new 3 years convertible debentures gives the company additional liquidity during this uncertain pandemic period and flexibility to continue to invest in the business and strategy, should suitable opportunity present itself.

董事會經過漫長的過程來考慮一系列再融資方案，並尋求獨立的財務和法律建議。再融資之前和之後的潛在稀釋程度——對不起，在真正的融資之後基本上是一樣的。新的 3 年可轉換債券為公司在這個不確定的大流行期間提供了額外的流動性，以及在合適的機會出現時繼續投資於業務和戰略的靈活性。

We anticipate being free cash flow positive for the fiscal year. As in the previous quarter, we are not providing a detailed financial outlook for fiscal 2021, due to the ongoing uncertainty from COVID-19. However, we can provide the following directional statements.

我們預計本財年的自由現金流為正。與上一季度一樣，由於 COVID-19 的持續不確定性，我們沒有提供 2021 財年的詳細財務展望。但是，我們可以提供以下方向性陳述。

We continue to expect total company revenue for the year to be around $950 million, as we indicated last quarter. Given the strong performance of the licensing business this quarter, we expect licensing revenue to finish the fiscal year modestly above the 250 mark that we have forecasted that we mentioned in the last earnings call.

正如我們上個季度所指出的，我們繼續預計今年公司總收入將達到 9.5 億美元左右。鑑於本季度許可業務的強勁表現，我們預計本財年的許可收入將略高於我們在上次財報電話會議中預測的 250 點大關。

For Software and Services, excluding BTS, we expect a slight revenue growth in the second half -- second fiscal half versus the first fiscal half. For BTS, we expect revenue to sequentially improve during the second half of the fiscal year and to return to its normal run rate early next fiscal year.

對於軟件和服務，不包括 BTS，我們預計下半年的收入將略有增長——下半年與上半年相比。對於 BTS，我們預計本財年下半年的收入將連續改善，並在下個財年初恢復正常運行率。

I also like to take this opportunity to highlight 2 product development items, which we feel very excited about. We expect by the end of the year, our Unified Endpoint Security, the UES suite, will be available as UEM agnostic. UES is the combination of the best of BlackBerry security, including Mobile Threat Defense, a Secure Web Gateway and Cylance next-generation AI and machine learning.

我也想藉此機會重點介紹 2 個產品開發項目，我們對此感到非常興奮。我們預計到今年年底，我們的統一端點安全性 UES 套件將作為 UEM 不可知論者提供。 UES 是 BlackBerry 最佳安全性的結合，包括 Mobile Threat Defense、安全 Web 網關和 Cylance 下一代 AI 和機器學習。

We believe that this will greatly expand our addressable markets because new logo customer will be able to benefit from the high level of security that Blackberry UES delivers, without having to replace their UEM platform.

我們相信這將極大地擴展我們的目標市場，因為新徽標客戶將能夠受益於 Blackberry UES 提供的高水平安全性，而無需更換他們的 UEM 平台。

On our critical event management platform, which is the second product-related announcement I'd like to highlight, the product AtHoc, we also made great progress. We recently announced the release of our Blackberry AtHoc Public Safety edition and Blackberry AtHoc EU Cloud, each development will further strengthen our ability to compete with a major competitor in this space.

在我們的關鍵事件管理平台上，這是我要強調的第二個與產品相關的公告，產品 AtHoc，我們也取得了很大進展。我們最近宣布發布我們的 Blackberry AtHoc 公共安全版和 Blackberry AtHoc EU Cloud，每項開發都將進一步增強我們與該領域主要競爭對手競爭的能力。

This quarter has shown that despite the challenges of COVID-19, the company has been able to deliver strong sequential billings and revenue growth and profitability. Further, the company continues to strengthen all the element of its go-to-market, building strong partnership and positioning ourselves for the long term.

本季度表明，儘管面臨 COVID-19 的挑戰，該公司仍能夠實現強勁的連續計費、收入增長和盈利能力。此外，公司繼續加強其進入市場的所有要素，建立強大的合作夥伴關係並為長期定位。

We remain confident that our technology is strong, the product we compete in are large and growing, and we're excited about our execution.

我們仍然相信我們的技術很強大，我們競爭的產品規模龐大且不斷增長，我們對我們的執行感到興奮。

I would like to now open for Q&A. Operator, can I have your assistance, please?

我現在想開放問答。接線員，我可以得到您的幫助嗎？

(Operator Instructions) And our first question for today will come from Daniel Bartus with Bank of America.

（操作員說明）我們今天的第一個問題將來自美國銀行的 Daniel Bartus。

First, impressive outperformance on the licensing line this quarter. I was wondering if you could just remind us what the recurring base we should think about there going forward. And is the strategy still striving for recurring new deals versus onetime deals?

首先，本季度在許可線上的出色表現令人印象深刻。我想知道您是否可以提醒我們今後應該考慮的經常性基礎。與一次性交易相比，該策略是否仍在努力爭取經常性的新交易？

Yes. Yes. The strategy is absolutely driving recurring deal over onetime deal. We estimated roughly the combination of that with a healthy portion of recurring to be roughly about $50 million a quarter, that's we normally gunning for, and give and take, we're looking for $250 million a year in licensing revenue.

是的。是的。該策略絕對是推動經常性交易而不是一次性交易。我們粗略估計，將其與經常性的健康部分相結合，大約每季度約 5000 萬美元，這是我們通常爭取的，並且給予和接受，我們正在尋找每年 2.5 億美元的許可收入。

We don't always get to -- the difficulty is, we don't always get to -- get all the revenue come in as recurring. So the Q2, for example, the deal, unfortunately, is a onetime deal, but it will recur a number of years down the road. So it's not the forever one -- only onetime forever, but it has recurring, but it's not an annual recurring that the way you think about. It probably come back 3 years from now or something like that. So it's all different, depending on the customer.

我們並不總是能夠 - 困難在於，我們並不總是能夠 - 讓所有收入都成為經常性的。因此，以第二季度為例，不幸的是，這筆交易是一次性交易，但它會在幾年後重複發生。所以它不是永遠的——永遠只有一次，但它會反復出現，但它不是你想像的每年一次的循環。它可能會在 3 年後或類似的時間回來。所以這一切都是不同的，取決於客戶。

Got you. That's really helpful. And then for my follow-up, I just want to understand the dynamics of the ARR, it looks like it's down a little bit quarter-over-quarter versus the business improving quarter-over-quarter. So just on the ARR piece, can you kind of help me think about which pieces of that maybe grew quarter-over-quarter and maybe where the pressure is coming from on ARR in 2Q?

得到你。這真的很有幫助。然後在我的後續行動中，我只想了解 ARR 的動態，看起來它比上一季度略有下降，而業務比上一季度有所改善。所以就 ARR 部分，你能幫我想想哪些部分可能會環比增長，以及第二季度 ARR 的壓力來自哪裡？

Yes. We have lost some of the business base due to the kind of the small, medium enterprise. Under COVID-19, they either delayed or they have gone on a lower cost solution. We typically see us pretty solid in the bigger company, bigger organization.

是的。由於那種中小型企業，我們已經失去了一些業務基礎。在 COVID-19 下，他們要么延遲，要么採用成本更低的解決方案。我們通常認為我們在更大的公司、更大的組織中相當穩固。

I would also add that the QNX was -- also contributed to the decline in that metric.

我還要補充一點，QNX 也導致了該指標的下降。

That's a good point. Yes, QNX has also contributed to the decline. Yes, that's a good point.

那是個很好的觀點。是的，QNX 也促成了下降。是的，這是一個很好的觀點。

Our next question comes from the line of Mike Walkley with Canaccord.

我們的下一個問題來自於 Canaccord 的 Mike Walkley。

Just following up on that. When you talked about the second half Software Services revenue recovering versus the first half, can you maybe rank order for us the biggest contributors to the recovery, is it QNX with autos restarting or maybe some other businesses that you're seeing growth also?

只是跟進。當您談到下半年軟件服務收入與上半年相比有所恢復時，您能否將我們列為複甦的最大貢獻者，是 QNX 與汽車重啟還是其他一些您也看到增長的業務？

Yes. So we are actually, I guess, cautiously bullish, that's probably the better word, in pretty much all line of our businesses. Of course, IP will not at the same repeat, but IP is exactly where we think it's going to be.

是的。所以我們實際上，我猜，謹慎看漲，這可能是更好的詞，在我們幾乎所有的業務領域。當然，IP 不會同時重複，但 IP 正是我們認為它會出現的地方。

So on QNX, the continued design wins, we could now see the activities in the developer seats that will hopefully bring us more professional services opportunity. And then as well as some of the return of the production will give us the uptick in royalty.

因此，在 QNX 上，持續的設計獲勝，我們現在可以看到開發人員席位上的活動，這些活動有望為我們帶來更專業的服務機會。然後以及一些生產的回報將使我們的版稅增加。

I think it's going to be modestly increasing. I mean, there will be a number -- Q3 number will be a little better than Q2 and Q4 will be a little better than Q3. And then we'll start going back to a normal state. And you'll probably see the trouble asking me what the normal say is probably around a $50 million quarter type early next year -- fiscal year. So that's one part of the component.

我認為它會適度增加。我的意思是，會有一個數字——第三季度的數字會比第二季度好一點，第四季度的數字會比第三季度好一點。然後我們將開始回到正常狀態。你可能會看到麻煩，問我通常說的可能是明年年初大約 5000 萬美元的季度類型 - 財政年度。所以這是組件的一部分。

We see a lot of demand on SecuSUITE. The work from home has actually also driven a higher demand and sensitivity about secure messaging technology as well as secure voice technology. We've seen quite a bit of demand out there and lots of pipeline. We feel good about our execution on the Spark side. Tom and team is doing very well. And I mentioned in my script that we're seeing good demand from customers who upgrade from our UEM, very interested in that. And our suites are quite elaborate because we have 6 different pillars that you could go from 1 to 6.

我們看到對 SecuSUITE 的大量需求。在家工作實際上也推動了對安全消息傳遞技術和安全語音技術的更高需求和敏感性。我們已經看到了相當多的需求和大量的管道。我們對 Spark 方面的執行感到滿意。湯姆和他的團隊做得很好。我在我的腳本中提到，我們看到從我們的 UEM 升級的客戶的良好需求，對此非常感興趣。我們的套房非常精緻，因為我們有 6 個不同的支柱，您可以從 1 到 6。

And so that even if you come in at 1, they give us good upsell opportunities down the road. So the customer engagements are very good. Our customer success teams are doing well.

因此，即使您以 1 點進場，他們也為我們提供了很好的追加銷售機會。所以客戶參與度非常好。我們的客戶成功團隊做得很好。

So -- and then, of course, AtHoc is now quite topical in the market also. So without getting way overly bullish, I mean, I'm still cautious about people a little cautious regarding spending capital and all that, multiple sectors have shown some of those consciousness. But overall, and our pipeline growing nicely, our engagement seems to be going quite nicely. We're all getting used to now selling remote, so to speak. So knock on wood, things seems coming together.

所以——當然，AtHoc 現在在市場上也很熱門。因此，在沒有過度看漲的情況下，我的意思是，我仍然對人們對支出資本和所有這些持謹慎態度的人持謹慎態度，多個行業已經表現出其中的一些意識。但總體而言，我們的管道發展良好，我們的參與似乎進展順利。可以這麼說，我們都習慣了現在銷售遙控器。所以敲木頭，事情似乎走到了一起。

Okay. That's helpful. And just a follow-up question since you mentioned AtHoc. Can you just update us? It's a very strong position with federal government. How do you see that platform transitioning more into the enterprise? How is the go-to-market there? And how do you see that transitioning to compete better in that segment because that could be quite a large opportunity also?

好的。這很有幫助。自從您提到 AtHoc 以來，這只是一個後續問題。你能更新我們嗎？在聯邦政府中，這是一個非常強大的立場。您如何看待該平台更多地過渡到企業？那裡的上市情況如何？您如何看待過渡到在該領域更好地競爭，因為這也可能是一個相當大的機會？

Yes, yes, very much. So we have traditionally been very strong in the federal government, particularly in the United States. And then, of course, lately, we added Canada. I think this is an opportunity that is scalable in all the other countries around the world, especially the G7 and EU and so forth.

是的，是的，非常。因此，我們傳統上在聯邦政府中非常強大，尤其是在美國。然後，當然，最近，我們添加了加拿大。我認為這是一個可以在世界上所有其他國家推廣的機會，尤其是 G7 和歐盟等。

The EU also have very strong opportunities regarding -- because of the data privacy law and the alert system that they would need and life cycle system they will need. Work from home also gives us some kind of demand generations. So we just need to get the team together to go after this -- all these opportunities. It's not a lack of opportunities out there.

由於數據隱私法和他們需要的警報系統以及他們需要的生命週期系統，歐盟也有非常強大的機會。在家工作也給我們帶來了某種需求。所以我們只需要讓團隊一起去追求這一切——所有這些機會。這不是缺乏機會。

So -- and then eventually, we'll get to enterprise side, we do have a plan to do that. But right now, as we speak today, we are -- we have 2 teams focusing on government in addition to U.S. government and Canadian government and hope to replicate the same level of success.

所以 - 然後最終，我們將進入企業方面，我們確實有這樣做的計劃。但是現在，正如我們今天所說的那樣，除了美國政府和加拿大政府之外，我們還有兩個專注於政府的團隊，並希望復制同樣的成功水平。

Oh, I forgot to mention state government. That's also a very big -- state government is a little bit more price sensitive, but it's still a big opportunity out there, especially when people are now knowing that their pandemic situation and we got the -- you got to get ready for any kind of events out there, good or bad for that matter.

哦，我忘了提到州政府。這也是一個非常大的 - 州政府對價格更加敏感，但這仍然是一個很大的機會，特別是當人們現在知道他們的大流行情況並且我們得到了 - 你必須為任何形式做好準備那裡發生的事件，無論好壞。

(Operator Instructions) Our next question comes from the line of Trip Chowdhry with Global Equities Research.

（操作員說明）我們的下一個問題來自全球股票研究公司的 Trip Chowdhry。

A very solid quarter and a very solid execution. I have 2 very quick questions. First is your solid win with Xpeng. Over-the-air updates is now very essential for any modern vehicles. Is QNX or BlackBerry providing Xpeng with the over-the-air update features?

一個非常穩固的季度和非常穩固的執行。我有 2 個非常快速的問題。首先是您與 Xpeng 的穩固勝利。無線更新現在對於任何現代車輛都非常重要。 QNX 或黑莓是否為小鵬提供無線更新功能？

I don't know that specific. I know we work with our partners on the cockpit platform. You know QNX has a very good OTA and one that a couple of chip manufacturer is using. So -- but as it related to Xpeng, I don't know that specific answer. We could find out the answer for you. But I don't have that data.

我不知道那個具體的。我知道我們在駕駛艙平台上與我們的合作夥伴合作。你知道 QNX 有一個非常好的 OTA 和幾個芯片製造商正在使用的。所以 - 但由於它與小鵬有關，我不知道具體的答案。我們可以為您找出答案。但是我沒有那個數據。

No worries. No worries. The second one is regarding AtHoc. This also had solid wins. I was wondering if you can highlight 1 or 2 technologies that makes AtHoc better than your competitor Everbridge.

不用擔心。不用擔心。第二個是關於 AtHoc。這也取得了穩固的勝利。我想知道您是否可以突出顯示使 AtHoc 比您的競爭對手 Everbridge 更好的 1 或 2 項技術。

Right. Thank you. I think it hold true to our value-added heritage, AtHoc -- the reason why we're successful in the federal government because of the level of security certifications. And also, we are pretty sure that the AtHoc messaging system, although it's slightly more expensive than others, are the most secure messaging system, i.e., that people cannot change messages or hack into the messaging system, change what's being sent out and fake the return messages and so forth.

正確的。謝謝你。我認為它適用於我們的增值遺產 AtHoc——我們之所以在聯邦政府中取得成功，是因為安全認證的水平。而且，我們非常確定 AtHoc 消息系統雖然比其他消息系統稍微貴一點，但它是最安全的消息系統，即人們無法更改消息或入侵消息系統、更改發送的內容並偽造返回消息等等。

So it's a 2-way communication, obviously. So that everything -- the advantage that AtHoc provide is absolutely in the security and the privacy side.

所以很明顯，這是一種雙向通信。因此，一切——AtHoc 提供的優勢絕對在於安全和隱私方面。

Our next question comes from the line of Daniel Chan with TD Securities.

我們的下一個問題來自道明證券的 Daniel Chan。

It sounds like your sales channel efforts are starting to bear fruit. Where do you think you are in building out that sales channel? And what else is there left to do?

聽起來您的銷售渠道努力開始取得成果。你認為你在哪裡建立銷售渠道？還有什麼可以做的？

I feel pretty good. I mean, thank you for asking that. So as you know that I've been working on this for the last couple of years, right? And I had a couple of cold start and -- but this time around, as I pointed out, it's a very elaborate, multi-disciplined areas of collaborations, and it has to come together probably to work well.

我感覺還不錯。我的意思是，謝謝你問這個。所以你知道我過去幾年一直在做這個，對吧？我有幾個冷啟動，但是這一次，正如我所指出的，這是一個非常精細的、多學科的合作領域，它必須結合起來才能很好地工作。

It's not just about adding more people on the street. As I said earlier, the incentive plans and the assigned territorial assignments and then it goes into the partner and the channels and in everything that -- the marketing, everything that comes together.

這不僅僅是在街上增加更多的人。正如我之前所說，激勵計劃和分配的區域任務，然後它進入合作夥伴和渠道以及一切 - 營銷，一切結合在一起。

I feel very good about where we are. We should see equal or better than market growth rate next year. Assuming things in the macro market doesn't deteriorate from where it is today, we see our pipeline growing. The people are more engaging in a -- how should I say that, in a prescriptive way, maybe that's the way to say it. The training came through.

我對我們所處的位置感覺很好。明年我們應該會看到等於或高於市場增長率。假設宏觀市場的情況沒有從今天的情況惡化，我們看到我們的管道正在增長。人們更多地參與-我應該怎麼說，以一種規定的方式，也許就是這樣說的方式。培訓通過了。

So feel pretty good about that. And we have some really strong plans, even inside the sales force regarding how we look at renewal versus new logo, and it is all facet of that.

所以感覺還不錯。我們有一些非常強大的計劃，甚至在銷售團隊內部，關於我們如何看待更新與新徽標，這都是其中的一個方面。

So I would say that now we just need to see the work yield us some results.

所以我想說，現在我們只需要看到這項工作給我們帶來了一些結果。

Okay, that's helpful. And then I wanted to switch gears a little bit to Cylance. It's been almost a year since you've launched the EDR solution that was supposed to close the gap with some of your competitors. So just want to get an update from you to see how that EDR solution is going and if there's anything else that needs to be done to make that successful?

好的，這很有幫助。然後我想稍微切換一下 Cylance。您推出 EDR 解決方案已經快一年了，該解決方案本應縮小與您的一些競爭對手的差距。所以只是想從您那裡獲得更新，以了解 EDR 解決方案的進展情況以及是否需要做任何其他事情才能使其成功？

Yes. The biggest -- yes. Thanks. So the Cylance business for us is rather flattish. And again, EPP, we're the top leader of EDR, we caught up with the competition. There's one piece that's missing that will kick into a growth gear, which is the cloud enablement of the Optics product, which is the EDR product. That will come through either towards the end of this calendar year or beginning of this calendar year.

是的。最大的——是的。謝謝。因此，Cylance 業務對我們來說相當平淡。再說一次，EPP，我們是 EDR 的最高領導者，我們趕上了競爭。缺少一個將啟動增長齒輪的部分，即光學產品的雲支持，即 EDR 產品。這將在本日曆年年底或本日曆年年初實現。

We already -- we got the sales force priming to sell it. And so that will also be an element that will help the MDR side, the Managed Service Side also. So that's the only thing that is missing right now. Everything else, they've caught up.

我們已經 - 我們讓銷售人員準備好出售它。因此，這也將是一個有助於 MDR 方面的元素，託管服務方面也是如此。所以這是現在唯一缺少的東西。其他的，他們都趕上了。

Our next question comes from the line of Paul Treiber with RBC Capital Markets.

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

Couple of high-level questions. One, just following off the last question. When you look at the peers in the space, specifically UEM and cybersecurity, with COVID, they're seeing an acceleration, a material acceleration in growth, and in comparison, it seems that BlackBerry is not seeing that same magnitude of growth acceleration.

幾個高級問題。一，緊接著最後一個問題。當您查看該領域的同行，特別是 UEM 和網絡安全與 COVID 時，他們看到了加速，增長的實質性加速，相比之下，黑莓似乎沒有看到同樣幅度的增長加速。

And so what in your view is the reason why BlackBerry isn't seeing material growth acceleration in UEM and cybersecurity at the moment?

那麼在您看來，黑莓目前在 UEM 和網絡安全方面沒有看到實質性增長的原因是什麼？

Well, we've seen some good growth in the UEM, mostly come from the installed base and so people buying more seats. We did see that activities. Now we're focusing on upgrading them to UES, so that they could use Cylance technology and then the gateway technology. And maybe it's the reason about where we are in the sales motion.

好吧，我們已經看到 UEM 有一些良好的增長，主要來自已安裝的基礎，因此人們購買了更多的席位。我們確實看到了這些活動。現在我們專注於將它們升級到 UES，以便它們可以使用 Cylance 技術，然後是網關技術。也許這就是我們在銷售行動中所處位置的原因。

As I said, we feel good about the receptivity. And we feel good about a win, which I named a few. So maybe there's a little bit of time lag and as we fix up our engine and the product releases of the UES and all that.

正如我所說，我們對接受度感覺良好。我們對勝利感覺很好，我列舉了一些。所以也許有一點時間滯後，當我們修復我們的引擎和 UES 的產品版本以及所有這些時。

So -- but we don't see any problem with the UEM side. People buying more seats. But the newer logo is harder to come by, but the existing installed base, the growths are quite reasonable, I would say.

所以——但我們認為UEM 方面沒有任何問題。人們購買更多座位。但是較新的標誌更難獲得，但現有的安裝基礎，增長是相當合理的，我會說。

So I'd take it as implying that you expect to hold market share in both those markets in the medium term?

所以我認為這意味著您希望在中期保持這兩個市場的市場份額？

Yes. We're holding our market share, and we have a plan -- a reasonable good plan to go after new logos with the UES platform. One of the way to hold them -- to do that is to make the UEM in our state.

是的。我們保持著我們的市場份額，我們有一個計劃——一個合理的好計劃，用 UES 平台追求新的標誌。持有它們的方法之一就是在我們的州建立 UEM。

But on the UEM side, we're going to push more on the cloud base implementation. And so we have a little plan of both, one from the installed base and one for the new logo.

但在 UEM 方面，我們將更多地推動基於雲的實施。所以我們對兩者都有一個小計劃，一個來自已安裝的基礎，一個來自新徽標。

And then just my last question, and it sort of it dovetails into that. But longer term, like it looks like you're making a more permanent shift to work from home with the real estate changes that you've done. If -- like do you think that there's a permanent shift for all companies to work from home or you see it as temporary? And if there's a permanent shift to work from home, how are you adjusting BlackBerry's longer-term strategy to really drive that or address it? And is cloud much more important in a work-from-the-home environment?

然後只是我的最後一個問題，它有點吻合。但從長遠來看，看起來你正在通過你所做的房地產變化做出更永久的在家工作的轉變。如果 - 您是否認為所有公司都將永久轉變為在家工作，或者您認為這是暫時的？如果要永久性地在家工作，您將如何調整黑莓的長期戰略以真正推動或解決這個問題？雲在在家工作的環境中更重要嗎？

Yes, cloud and mobility. And mobility is kind of where our strength has always been. So we think -- well, first of all, to answer your first question, personally, I believe if everybody worked from home forever, it will hurt productivity, it will hurt innovations. But I think there will be a hybrid model that's being developed. And most of the people -- there are a lot of very well-known CEO. And I think there was a Wall Street Journal article yesterday or earlier this week interviewing them, and most of them have said that they probably want to either everybody go back to work or a hybrid of sorts. And so either trend was something that we could benefit from.

是的，雲和移動性。機動性是我們一直以來的優勢所在。所以我們認為——首先，回答你的第一個問題，就我個人而言，我相信如果每個人都永遠在家工作，這會損害生產力，也會損害創新。但我認為將會有一個混合模型正在開發中。而大多數人——有很多非常知名的CEO。而且我認為昨天或本週早些時候有一篇華爾街日報的文章採訪了他們，他們中的大多數人都說他們可能希望每個人都回去工作或混合各種。因此，這兩種趨勢都是我們可以從中受益的。

We could benefit because I think whether you're working from home or you are doing -- at the office or remotely, you will deal with mobility. And so secure mobility, endpoint mobility, endpoint security are definitely something that we don't need to change our product road map or adjust it, whether we're doing messaging or event management or UEM or the UES side of the equation. Our platforms are just fine for either the usage.

我們可以從中受益，因為我認為無論您是在家工作還是在辦公室工作 - 在辦公室或遠程工作，您都會處理移動性問題。因此，安全移動性、端點移動性、端點安全性絕對是我們不需要更改或調整產品路線圖的東西，無論我們是在做消息傳遞、事件管理、UEM 還是等式的 UES 方面。我們的平台適用於任何一種用途。

I think -- again, I look at this thing as mobile computing and securing that mobile computing in as many facets as possibly can to help productivity, to help assuring data privacy and all that. It's something that we do and we do best. So that will be a good space for us.

我認為 - 再次，我將這件事視為移動計算，並在盡可能多的方面保護移動計算，以幫助提高生產力，幫助確保數據隱私等等。這是我們做的事情，我們做得最好。所以這對我們來說是一個很好的空間。

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

現在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. Well, thank you. So the only thing I have is, I'd like to remind everybody that we have our BlackBerry Annual Security Summit, I think this is the 7th on October 5 to 7. This virtual event will feature live and on-demand session, including keynote address with BlackBerry Executives, product demos, case study. We have exciting outside speaker lineup also, including a high level U.S. government official, who will speak about cybersecurity legislative developments and a distinguished industry analyst from Gartner, who will talk about the market more in detail.

好的。嗯，謝謝。所以我唯一擁有的是，我想提醒大家，我們有我們的黑莓年度安全峰會，我想這是 10 月 5 日至 7 日的第 7 屆。這個虛擬活動將包括現場和點播會議，包括主題演講與 BlackBerry 高管交流、產品演示、案例研究。我們還有令人興奮的外部演講者陣容，其中包括一位高級美國政府官員，他們將談論網絡安全立法的發展，以及一位來自 Gartner 的傑出行業分析師，他們將更詳細地談論市場。

More detail of the speakers and the event can be found on our website, blackberry.com/securitysummit, one word, securitysummit is one word. This event will help demonstrate why BlackBerry is so important and critical in today's cybersecurity landscape, we hope to see many of you there. Thank you very much for joining us for the call today, and have a great day.

有關演講者和活動的更多詳細信息，請訪問我們的網站 blackberry.com/securitysummit，一個詞，securitysummit 就是一個詞。本次活動將有助於展示為什麼 BlackBerry 在當今的網絡安全領域如此重要和關鍵，我們希望在此見到你們中的許多人。非常感謝您今天加入我們的電話，祝您有美好的一天。

This concludes today's call. You may now disconnect.

今天的電話會議到此結束。您現在可以斷開連接。