BlackBerry Ltd (BB) 2020 Q4 法說會逐字稿

Good morning, and welcome to the BlackBerry Fiscal Fourth Quarter and Fiscal Year 2020 Results Conference Call.

早上好，歡迎參加 BlackBerry 2020 財年第四季度和 2020 財年業績電話會議。

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

我的名字是喬希，我將擔任今天電話會議的主持人。

(Operator Instructions) As a reminder, this conference is being recorded for replay purposes.

（操作員說明）作為提醒，正在錄製此會議以供重播。

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

我現在想將今天的電話轉給財務副總裁 Christopher Lee。

Please go ahead.

請繼續。

Thank you, Josh.

謝謝你，喬希。

Welcome to the BlackBerry Fiscal Fourth Quarter and Fiscal Year 2020 Results Conference Call.

歡迎參加 BlackBerry 2020 財年第四季度和 2020 財年業績電話會議。

With me on the call today are Executive Chairman 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, and Steve will then review the financial results.

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，然後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 provisions 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。

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 and the COVID-19 coronavirus outbreak, which is negatively impacting public health, financial markets and global economic activity.

這些因素包括公司年度申報和 MD&A 中討論的風險因素以及 COVID-19 冠狀病毒的爆發，這對公共衛生、金融市場和全球經濟活動產生了負面影響。

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 statements, 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 is 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 and supplement published earlier today, which are available on the EDGAR, SEDAR and blackberry.com websites.

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。

I will now turn the call over to John.

我現在將把電話轉給約翰。

Thank you, Chris.

謝謝你，克里斯。

Good afternoon, everybody.

大家下午好。

Before I speak about the BlackBerry results, I'd like to acknowledge everyone who is doing all they can to contain and overcome the COVID-19 virus.

在談論 BlackBerry 的結果之前，我想感謝所有正在盡其所能遏制和克服 COVID-19 病毒的人。

BlackBerry has taken a number of steps to help the global community, including enabling remote working for our customer and employees.

黑莓採取了許多措施來幫助全球社區，包括為我們的客戶和員工實現遠程工作。

And we are taking the lead by offering a limited license of our enterprise software products free to organizations around the world for 60 days.

我們率先向世界各地的組織免費提供我們企業軟件產品的有限許可，為期 60 天。

Now on to the results.

現在來看看結果。

As Chris stated, I will reference non-GAAP number in my summary of our financial results, unless otherwise stated.

正如克里斯所說，除非另有說明，否則我將在我的財務業績摘要中引用非 GAAP 數字。

Let me start off by some highlights for fiscal 2020, the fiscal year entirely.

讓我從 2020 財年的一些亮點開始，整個財年。

BlackBerry achieved another year of profitable growth.

黑莓實現了又一年的盈利增長。

We are pleased with $1.1 billion in total company revenue, resulting in 20% growth year-over-year.

我們對 11 億美元的公司總收入感到滿意，同比增長 20%。

Software and Services revenue grew 26% year-over-year.

軟件和服務收入同比增長 26%。

Earnings per shares of $0.13, this amount exceeds the expectation we raised during the year.

每股收益為 0.13 美元，這一數額超出了我們今年提出的預期。

Positive free cash flow of $14 million.

1400萬美元的正自由現金流。

Perhaps the best news is the strong set of products released in the past fiscal year.

也許最好的消息是上一財年發布的強大產品集。

We released over 30 new products.

我們發布了 30 多種新產品。

I'd like to give you some highlights of the one that we're really excited about, QNX Hypervisor 2.0 for Safety, which achieves the highest ISO safety standard in the industry; the second product, BlackBerry Intelligent Security, which uses AI to provide a depth of security and continuous authentication to overcome the FedEx security vulnerabilities; third, the CylanceOPTICS 2.4, our enhanced endpoint detection and response product, then followed by the single-agent platform to deploy both CylancePROTECT as well as CylanceOPTICS; followed by our Mobile Threat Defense product, MTD, product that integrates our AI-based endpoint security capabilities with our portfolio of endpoint management technologies.

我想向您介紹一些我們非常興奮的亮點，QNX Hypervisor 2.0 for Safety，它達到了行業最高的 ISO 安全標準；第二個產品，黑莓智能安全，它使用人工智能提供深度的安全性和持續的身份驗證，以克服聯邦快遞的安全漏洞；第三，CylanceOPTICS 2.4，我們增強的端點檢測和響應產品，然後是單代理平台，用於部署 CylancePROTECT 和 CylanceOPTICS；其次是我們的移動威脅防禦產品 MTD，該產品將我們基於 AI 的端點安全功能與我們的端點管理技術組合集成在一起。

Our peers do not have a full mobile solution like we do; and last, but not final, the BlackBerry Digital Workplace, which delivers lightweight secure desktop virtualization while eliminating the need for VPN and adding AI-based protection.

我們的同行沒有像我們這樣的完整的移動解決方案；最後，但不是最終的，BlackBerry Digital Workplace，它提供輕量級安全桌面虛擬化，同時消除對 VPN 的需求並添加基於 AI 的保護。

Digital Workplace can be deployed on corporate and personally owned devices used by the entire sales force -- or the workforce, sorry, excuse me, the workforce.

Digital Workplace 可以部署在整個銷售人員使用的公司和個人擁有的設備上——或者勞動力，對不起，對不起，勞動力。

This is a must-have for secure remote worker productivity and business continuity.

這是確保遠程工作人員生產力和業務連續性的必備條件。

Additionally, we made tremendous progress in the development of the Spark platform.

此外，我們在 Spark 平台的開發方面取得了巨大進展。

I will speak more about that later.

稍後我將對此進行更多討論。

Now let me provide some highlights for the fourth quarter -- fourth fiscal quarters.

現在讓我提供第四季度的一些亮點——第四財季。

Total revenue came in at $291 million.

總收入為 2.91 億美元。

We achieved positive year-over-year Software and Services billing growth.

我們實現了軟件和服務賬單的同比正增長。

We also have a healthy sequential billing performance from enterprise software and services.

我們還從企業軟件和服務中獲得了健康的順序計費性能。

Gross margin was 77%.

毛利率為 77%。

Operating income was $51 million.

營業收入為 5100 萬美元。

And operating margin was 18%.

營業利潤率為18%。

All of these are very strong results.

所有這些都是非常強大的結果。

Compared sequentially, it's an increase from $20 million and 7%, respectively, from Q3.

與上一季度相比，分別比第三季度增長了 2000 萬美元和 7%。

EPS came in at $0.09, which is $0.05 higher than expectations we had for the quarter.

每股收益為 0.09 美元，比我們對該季度的預期高 0.05 美元。

Free cash flow of $32 million, contributing to a total ending cash and investment balance of $990 million.

自由現金流 3200 萬美元，期末現金和投資餘額總計 9.9 億美元。

Let's move into the business commentary.

讓我們進入商業評論。

Let me start with the sentence on licensing business.

讓我從關於許可業務的那句話開始。

Revenue increased 9% year-over-year.

收入同比增長 9%。

We had better-than-expected performance due to some business that actually came in early.

由於一些業務實際上早到了，我們的業績好於預期。

Moving on to the IoT business.

轉向物聯網業務。

The IoT business underperformed in the quarter due primarily to BTS.

主要由於 BTS，物聯網業務在本季度表現不佳。

BTS has been unexpectedly impacted by the slowdown in the auto industry supply chain due to the COVID-19.

由於 COVID-19，BTS 意外地受到了汽車行業供應鏈放緩的影響。

Unfortunately, we expect this trend to continue for the near future due to a temporary global auto production shutdowns and related slowdowns of auto sales.

不幸的是，由於全球汽車生產暫時停產和相關的汽車銷售放緩，我們預計這一趨勢將在不久的將來持續。

Customer and prospect have become more cautious in the decision-making related to capital expenditure and development.

客戶和潛在客戶在與資本支出和發展相關的決策中變得更加謹慎。

The leading indicator to us was that we expected 2 large transactions with reliable customers that were unfortunately delayed.

對我們來說，領先的指標是我們預計與可靠客戶的 2 筆大筆交易不幸被延遲了。

While our fourth quarter -- fourth fiscal quarter results were impacted, we believe these 2 delayed transaction will occur as the business environment return to normal.

雖然我們的第四季度 - 第四財季業績受到影響，但我們相信隨著商業環境恢復正常，這兩項延遲交易將會發生。

On a positive note, BlackBerry QNX continued to gain design wins.

積極的一面是，黑莓 QNX 繼續贏得設計大獎。

We were chosen for 31 design wins in the quarter.

我們在本季度獲得了 31 項設計勝利。

16, 1-6, were in the automotive market, and 15 were in the generally embedded -- general embedded market.

16個，1-6個在汽車市場，15個在通用嵌入式——通用嵌入式市場。

Within the auto market, the vast majority of the design wins came in were ADAS, the Advanced Driver Assist program, and digital instrument cluster applications.

在汽車市場中，絕大多數設計勝利來自 ADAS、高級駕駛員輔助程序和數字儀表板應用程序。

These wins secured through our customer like Bosch, Continental and Visteon, just to name a few of those Tier 1, continue the trend of increasing ARPU and volume in the future, and we continue to be the leading provider of safety certified software to the industry.

通過博世、大陸和偉世通等我們的客戶獲得了這些勝利，僅舉幾例第 1 層，在未來繼續增加 ARPU 和數量的趨勢，我們繼續成為行業安全認證軟件的領先供應商.

Within the generally -- general embedded market, we saw increased demand in the industrial and medical verticals, including being chosen by Wabtec Corporations, a global leader in transportation solutions who merged with GE Transportation last year.

在一般嵌入式市場中，我們看到工業和醫療垂直領域的需求增加，包括被 Wabtec Corporations 選中，Wabtec Corporations 是運輸解決方案的全球領導者，去年與 GE 運輸公司合併。

And as noted in the last few quarters, growth in the general embedded market has been a stated priority -- a strategic priority for us at BlackBerry.

正如過去幾個季度所指出的那樣，通用嵌入式市場的增長一直是一個既定的優先事項——我們黑莓的戰略優先事項。

A brief update on our Radar business.

我們雷達業務的簡要更新。

In the quarter, we saw continued growth in both the number of shipped units and service revenue.

在本季度，我們看到出貨量和服務收入持續增長。

We added 7 new customers, resulting in 50 new customers, 5-0, in the fiscal year.

我們增加了 7 名新客戶，在本財年產生了 50 名新客戶，5-0。

Additionally, we continue to have steady repeat buying from existing customers.

此外，我們繼續從現有客戶那裡獲得穩定的重複購買。

Moving on to our enterprise software and services business.

繼續我們的企業軟件和服務業務。

The sales team executed well, resulting in sequential billing growth in the high teens percentage.

銷售團隊執行良好，導致高青少年百分比的連續計費增長。

Our fourth quarter ESS billing was at its highest level in fiscal 2020.

我們第四季度的 ESS 計費達到了 2020 財年的最高水平。

The billing strength was across all the ESS businesses, led by strong performance on both the UEM, the Endpoint Management, as well as AtHoc.

在 UEM、Endpoint Management 和 AtHoc 的強勁表現的帶動下，所有 ESS 業務的計費實力都體現得淋漓盡致。

On the customer front, our regulated industry business such as government, financial services and health care remains healthy and stable.

在客戶方面，政府、金融服務和醫療保健等受監管的行業業務保持健康穩定。

We also experienced strength in our nonregulated industry business, most notably the energy and utility vertical as well as the manufacturing vertical.

我們在不受監管的行業業務中也表現出實力，尤其是能源和公用事業垂直領域以及製造垂直領域。

We added several large size wins, both new logos and upsell, in competitive situation.

在競爭激烈的情況下，我們增加了幾個大尺寸的勝利，包括新徽標和追加銷售。

Let me highlight a few.

讓我強調一些。

General Dynamics, a Fortune 100 aerospace and defense leaders; CGI, a global professional services and consulting company; Johns Hopkins Aramco Healthcare, a leading health care provider in Saudi Arabia; EVN Group, one of the largest producers and transporters of electricity in Europe; and Nippon Steel, one of the world largest steel producers.

通用動力公司，財富 100 強航空航天和國防領導者； CGI，一家全球性的專業服務和諮詢公司； Johns Hopkins Aramco Healthcare，沙特阿拉伯領先的醫療保健提供商； EVN Group，歐洲最大的電力生產商和運輸商之一；和新日鐵，世界最大的鋼鐵生產商之一。

Our pipeline is building for our new product as well, notably for the MTD, the Mobile Threat Defense, and the BlackBerry Intelligent Security.

我們的管道也在為我們的新產品構建，特別是 MTD、Mobile Threat Defense 和 BlackBerry Intelligent Security。

Now on to our Finance -- BlackBerry Finance business.

現在談談我們的財務——黑莓財務業務。

Revenue was up slightly year-over-year against a reasonably tough comp.

在相當艱難的競爭中，收入同比略有增長。

Billing increased sequentially, as we anticipated.

正如我們預期的那樣，計費按順序增加。

We are highly competitive against other next-generation AV players because of the following reasons.

由於以下原因，我們與其他下一代 AV 播放器競爭激烈。

Number one, BlackBerry Finance is the best mobile solution in the market.

第一，BlackBerry Finance 是市場上最好的移動解決方案。

Number two, our lightweight solution protect all endpoints, whether they're connected or not.

第二，我們的輕量級解決方案保護所有端點，無論它們是否連接。

Other next-gen AV players only protect when the endpoint is connected to the cloud.

其他下一代 AV 播放器僅在端點連接到雲時提供保護。

Number three, instead of being cloud-only, we support cloud-managed, on-premise and hybrid deployment models.

第三，我們支持雲管理、內部部署和混合部署模型，而不是僅支持雲。

And last but not least, we're compatible with both the current and legacy device operating system, especially on the desktop.

最後但同樣重要的是，我們與當前和舊設備操作系統兼容，尤其是在桌面上。

This was a strong quarter of new logo.

這是新標誌的強勁季度。

Cylance won over 300 new customers.

Cylance 贏得了 300 多個新客戶。

Some of the new logos won in the competitive environment include the Fonterra Co-operative Group, the world's largest dairy exporters; a notable state health care organization in Australia.

在競爭激烈的環境中贏得的一些新標誌包括世界最大的乳製品出口商恆天然合作集團；澳大利亞著名的州級醫療保健機構。

Unfortunately, we don't have permission to name the name; a Fortune 500 financial services company based in the Midwest of the United States; Mizuho Security, which was a cross-sell opportunity to leverage our UEM relationships; and Hartford Financial Services Group, a leading insurance -- a leader in insurance vertical that was won through our managed service partner with Verizon.

不幸的是，我們無權命名該名稱；一家位於美國中西部的財富 500 強金融服務公司； Mizuho Security，這是一個利用我們 UEM 關係的交叉銷售機會；和 Hartford Financial Services Group，一家領先的保險公司——通過我們與 Verizon 的託管服務合作夥伴贏得了保險垂直領域的領導者。

As a result, ARR was $167 million, up 9% year-over-year.

結果，ARR 為 1.67 億美元，同比增長 9%。

Our dollar-based net retention rates continue to be over 90%.

我們基於美元的淨保留率繼續超過 90%。

We ended the quarter with 18% year-over-year growth in active subscription customers.

在本季度末，我們的活躍訂閱客戶同比增長 18%。

And as I previously said, we believe the momentum will only continue now that BlackBerry Cylance is a full portfolio plus other BlackBerry capabilities in the market.

正如我之前所說，我們相信這種勢頭只會持續下去，因為 BlackBerry Cylance 是一個完整的產品組合以及市場上的其他 BlackBerry 功能。

Before I turn the call over to Steve, let me update you on the Spark platform and the Cylance integration.

在我將電話轉給 Steve 之前，讓我向您介紹 Spark 平台和 Cylance 集成的最新情況。

We have made tangible progress in the development of Spark, our secure IoT platform.

我們在安全物聯網平台 Spark 的開發方面取得了切實進展。

This past February, we announced the release of our Unified Endpoint Security or UES layer within the Spark platform that leverages AI machine learning and automation to deliver zero trust security across all the fixed and mobile endpoints.

今年 2 月，我們宣佈在 Spark 平台中發布統一端點安全或 UES 層，該平台利用 AI 機器學習和自動化在所有固定和移動端點提供零信任安全。

The UES layer is supported by 6 initial products, which are endpoint protection platform, the EPP; endpoint detection and respond, the EDR; the Mobile Threat Defense, the MTD; continuous authentication; Data Loss Prevention, known as DLP; and Secure Web Gateway.

UES層由6個初始產品支持，即端點保護平台EPP；端點檢測和響應，EDR；移動威脅防禦，MTD；持續認證；數據丟失防護，稱為 DLP；和安全 Web 網關。

These products work seamlessly together to analyze and define risk, make contextual decision based on large amount of shared data and dynamically apply a set of policy control to address the risks of our customer environment.

這些產品無縫地協同工作以分析和定義風險，根據大量共享數據做出上下文決策，並動態應用一組策略控制來解決我們客戶環境的風險。

Our platform development -- this platform development is in line with the marketplace convergence noted by Gartner.

我們的平台開發——該平台開發符合 Gartner 指出的市場融合。

We see the consolidation of MTD offerings with EDR and EPP tools and calling this combined stack Unified Endpoint Security.

我們看到 MTD 產品與 EDR 和 EPP 工具的整合，並將這種組合稱為統一端點安全堆棧。

Gartner sees this stack forming a single solution during the next 3 to 5 years and indicated their organization should invest with UES in mind.

Gartner 認為該堆棧將在未來 3 到 5 年內形成一個單一的解決方案，並表示他們的組織應該考慮到 UES 的投資。

Gartner also noted that 70% of organization will need a combined endpoint management council by 2024.

Gartner 還指出，到 2024 年，70% 的組織將需要一個聯合端點管理委員會。

And 50% of the organization will have to have Mobile Threat Defense by 2022, which is up from 20% this year.

到 2022 年，50% 的組織必須擁有移動威脅防禦，這一比例高於今年的 20%。

Given our product and the marketplace progression, we are now ready to increase go-to-market synergies and go after these big UES and UEM opportunities.

鑑於我們的產品和市場發展，我們現在準備增加進入市場的協同效應，並抓住這些大的 UES 和 UEM 機會。

Accordingly, we have successfully integrated the entire Cylance organization, including sales and R&D teams, into our IoT business segment effective March 1, 2020, which was just a month ago.

因此，我們已成功地將整個 Cylance 組織（包括銷售和研發團隊）整合到我們的物聯網業務部門，自 2020 年 3 月 1 日起生效，也就是一個月前。

We believe the unified team leads to broader customer coverage, a richer product road map, a clearer sales message and, most importantly, very differentiated offerings.

我們相信，統一的團隊會帶來更廣泛的客戶覆蓋範圍、更豐富的產品路線圖、更清晰的銷售信息，最重要的是，可以提供非常差異化的產品。

The value proposition to a customer is that BlackBerry Spark provide the highest level of security and management with a simpler and more productive user experience on any endpoint, fixed or mobile, from any location over any network.

對客戶的價值主張是 BlackBerry Spark 提供最高級別的安全性和管理，以及通過任何網絡在任何位置、固定或移動的任何端點上更簡單、更高效的用戶體驗。

Many of you actually have asked me over the past several quarters about BlackBerry prospect in the competitive landscape, especially against much larger players.

在過去的幾個季度裡，你們中的許多人實際上都向我詢問了黑莓在競爭格局中的前景，尤其是在與更大的玩家競爭時。

I will -- I could not provide you a complete answer then, only to tell you that we're working on it because the solution at the time was under development.

我會——那時我無法為您提供完整的答案，只是告訴您我們正在努力解決這個問題，因為當時的解決方案正在開發中。

We now have a differentiated technology architecture that is ready to ship in the market.

我們現在有一個差異化的技術架構，可以在市場上發布。

Today, our UES products work with BlackBerry UEM.

今天，我們的 UES 產品可與 BlackBerry UEM 配合使用。

However, we recognize that customer may be using a competitor's or often more than one UEM products.

但是，我們認識到客戶可能正在使用競爭對手的產品或經常使用不止一種 UEM 產品。

Therefore, in the near future, as part of our road map, our UES solution will be made compatible with Intune, AirWatch and other competitors' UEM products to give customer the best of both worlds, mainly preserving investment while enjoying the benefit of the highest security and management that BlackBerry provides.

因此，在不久的將來，作為我們路線圖的一部分，我們的 UES 解決方案將與 Intune、AirWatch 和其他競爭對手的 UEM 產品兼容，為客戶提供兩全其美的體驗，主要是在保護投資的同時享受最高的收益黑莓提供的安全和管理。

We believe UES changes the competitive dynamics, and our operative objectives now is to gain market share because UES is complementary, too, but not a direct competitor of the non-BlackBerry UEM products.

我們相信 UES 改變了競爭動態，我們現在的運營目標是獲得市場份額，因為 UES 也是互補的，但不是非黑莓 UEM 產品的直接競爭對手。

And also, BlackBerry UEM will maintain our leadership in the regulated industry due to our continued focus and commitment on security and management.

此外，由於我們對安全和管理的持續關注和承諾，黑莓 UEM 將保持我們在受監管行業的領導地位。

In time, we believe this Spark architecture expand our total addressable market, including in the IoT security area.

隨著時間的推移，我們相信這種 Spark 架構會擴展我們的整個潛在市場，包括物聯網安全領域。

With that, let me turn over to Steve to provide more details about our financial performance.

有了這個，讓我請史蒂夫提供有關我們財務業績的更多細節。

Thank you, John.

謝謝你，約翰。

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

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。

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

請參閱補充表格和新聞稿，了解 GAAP 和非 GAAP 詳細信息和對賬。

We delivered fourth quarter non-GAAP total company revenue of $291 million and GAAP total company revenue of $282 million.

我們實現了第四季度非 GAAP 公司總收入 2.91 億美元和 GAAP 公司總收入 2.82 億美元。

I will break down revenue shortly.

我將很快分解收入。

Fourth quarter total company gross margin was 77%.

第四季度公司總毛利率為 77%。

Our non-GAAP gross margin includes software deferred revenue acquired but not recognized of $9 million and excludes stock compensation expense of $2 million.

我們的非 GAAP 毛利率包括 900 萬美元的已收購但未確認的軟件遞延收入，不包括 200 萬美元的股票補償費用。

Fourth quarter operating expenses of $172 million were down sequentially by $23 million.

第四季度運營費用為 1.72 億美元，環比下降 2300 萬美元。

And we continue to invest in product development and go-to-market.

我們繼續投資於產品開發和進入市場。

At the same time, we continue to demonstrate cost discipline across the entire company and gain operating leverage, in particular, at Cylance.

與此同時，我們繼續在整個公司展示成本紀律，並獲得運營槓桿，特別是在 Cylance。

Our non-GAAP operating expenses exclude $35 million in amortization of acquired intangibles, which equates to about $0.06 impact to GAAP earnings per share.

我們的非 GAAP 運營費用不包括 3500 萬美元的收購無形資產攤銷，這相當於對 GAAP 每股收益產生約 0.06 美元的影響。

Additionally, our non-GAAP operating expenses exclude $27 million in goodwill and long-term asset impairment charges, $15 million in stock compensation expense, $3 million for software deferred commissions expense acquired, $1 million in acquisition and integration costs, $1 million in restructuring costs and a charge of $5 million related to the fair value adjustment on the convertible debenture.

此外，我們的非公認會計原則運營費用不包括 2700 萬美元的商譽和長期資產減值費用、1500 萬美元的股票補償費用、300 萬美元的軟件遞延佣金費用、100 萬美元的收購和整合成本、100 萬美元的重組成本與可轉換債券的公允價值調整有關的 500 萬美元的費用。

Fourth quarter non-GAAP operating income was $51 million, 5-1.

第四季度非 GAAP 營業收入為 5100 萬美元，5-1。

And fourth quarter non-GAAP net income was also $51 million.

第四季度非 GAAP 淨收入也是 5100 萬美元。

Non-GAAP earnings per share was $0.09 in the quarter.

本季度非 GAAP 每股收益為 0.09 美元。

Our adjusted EBITDA was $68 million this quarter, excluding the non-GAAP adjustments previously mentioned.

本季度我們調整後的 EBITDA 為 6800 萬美元，不包括前面提到的非 GAAP 調整。

This equates to an adjusted EBITDA margin of 23%.

這相當於調整後的 EBITDA 利潤率為 23%。

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

我現在將提供本季度收入的明細。

Total Software and Services revenue was $287 million, representing 99% of total company revenue.

軟件和服務總收入為 2.87 億美元，占公司總收入的 99%。

Other revenue is solely comprised of service access fees, which were $4 million and were expected to decline given the continued wind down of this legacy business.

其他收入僅包括服務訪問費，為 400 萬美元，並且由於這項傳統業務的持續關閉，預計會下降。

Recurring Software and Services revenue, excluding IP licensing and professional services revenue, was about 90% in the quarter.

本季度的經常性軟件和服務收入（不包括 IP 許可和專業服務收入）約為 90%。

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 $990 million at February 29, 2020, which increased by $20 million from November 30, 2019.

截至 2020 年 2 月 29 日，現金、現金等價物和投資總額為 9.9 億美元，比 2019 年 11 月 30 日增加了 2,000 萬美元。

Our net cash position was $385 million at the end of the quarter.

截至本季度末，我們的淨現金頭寸為 3.85 億美元。

Fourth quarter free cash flow before considering the impact of acquisition and integration expenses, restructuring costs and legal proceedings was positive $36 million.

在考慮收購和整合費用、重組成本和法律訴訟的影響之前，第四季度的自由現金流為正 3600 萬美元。

Cash generated from operations was $35 million, and capital expenditures were $3 million.

運營產生的現金為 3500 萬美元，資本支出為 300 萬美元。

That concludes my comments.

我的評論到此結束。

I'll turn the call back to John to provide our financial outlook for fiscal 2021.

我將把電話轉回給約翰，以提供我們對 2021 財年的財務展望。

Thank you, Steve.

謝謝你，史蒂夫。

Currently, I'm sure you all agree, there's a lot of uncertainty across the global economy due to the COVID-19.

目前，我相信你們都同意，由於 COVID-19，全球經濟存在很多不確定性。

Therefore, it is not prudent for BlackBerry to provide any specific fiscal 2021 financial outlook as things are changing on almost on a daily basis.

因此，黑莓提供任何具體的 2021 財年財務展望並不謹慎，因為情況幾乎每天都在變化。

However, I'd like to make some macro comments on our business.

但是，我想對我們的業務做一些宏觀的評論。

Our revenue most likely will be negatively impacted by continued headwinds to global auto production and sales.

我們的收入很可能會受到全球汽車生產和銷售持續逆風的負面影響。

We anticipate continued delay in capital spending in the auto as well as the other industry.

我們預計汽車和其他行業的資本支出將繼續延遲。

At the same time, this negative impact could be partially offset because our product and services portfolio is well suited to help enterprise meet the challenges of business continuity, driven by the dramatic expansion of remote workers -- or the number of remote workers.

同時，這種負面影響可能會被部分抵消，因為我們的產品和服務組合非常適合幫助企業應對業務連續性的挑戰，這是由遠程工作者或遠程工作者數量的急劇擴張所推動的。

We are known for offering the best security and productivity solution.

我們以提供最佳的安全性和生產力解決方案而聞名。

These product and services, including our UEM product; Cylance; Digital Workspace (sic) [Digital Workplace]; Secusmart, which is secure voice and text solution; as well as AtHoc, our crisis communication solution, including the new Situation Response product, which is the entire life cycle of managing crisis.

這些產品和服務，包括我們的 UEM 產品；週期；數字工作空間（原文如此）[數字工作場所]； Secusmart，一種安全的語音和文本解決方案；以及我們的危機溝通解決方案 AtHoc，包括新的 Situation Response 產品，這是管理危機的整個生命週期。

In fact, we are experiencing increased demand.

事實上，我們的需求正在增加。

More transaction and inquiries comes in daily from new and existing customer, resulting in more licenses being deployed.

每天都有來自新客戶和現有客戶的更多交易和查詢，導致部署更多許可證。

Furthermore, our finance products, including CylanceGUARD, which is our cloud-based managed detection and response offering, are helping customer to combat growing cybersecurity and privacy risk as the number of BYOD endpoints increases in a remote working environment.

此外，隨著遠程工作環境中 BYOD 端點數量的增加，我們的金融產品，包括 CylanceGUARD，這是我們基於雲的託管檢測和響應產品，正在幫助客戶應對日益增長的網絡安全和隱私風險。

While it is difficult to predict the volume of business year-over-year, the company will remain strongly focused on the overall financial health in fiscal 2021.

雖然很難預測同比業務量，但該公司將繼續高度關注 2021 財年的整體財務狀況。

The management team has managed through uncertain times in the past and has a track record in balancing profitability and investment for our long-term growth.

管理團隊過去曾度過不確定的時期，並在平衡盈利能力和投資以促進我們的長期增長方面擁有良好的記錄。

As it related to the shape of the fiscal '2021, we anticipate a tough first quarter due to the COVID-19 impact on our business.

由於它與 2021 財年的情況有關，我們預計由於 COVID-19 對我們業務的影響，第一季度將是艱難的。

This may linger into the second quarter, but we do anticipate a stronger second half of fiscal year versus the first half of the fiscal year.

這可能會持續到第二季度，但我們確實預計本財年下半年將比本財年上半年更強勁。

When looking beyond 2021, we do not believe this current global crisis changes BlackBerry's strategy and the thesis of any of our long-term profitability growth and value creation.

展望 2021 年以後，我們認為當前的全球危機不會改變黑莓的戰略以及我們任何長期盈利增長和價值創造的主題。

I would like -- now like to open up for Q&A.

我想——現在想開放問答。

Josh?

喬什？

(Operator Instructions) Our first question comes from Daniel Chan with TD Securities.

（操作員說明）我們的第一個問題來自道明證券的 Daniel Chan。

Now given the macro uncertainty, how are you thinking about capital requirements?

現在考慮到宏觀的不確定性，您如何看待資本要求？

In particular, how much do you need?

特別是，你需要多少？

And what are your plans for the convert?

你對皈依者有什麼計劃？

Yes, we have -- after paying off the convert, we have $385 million of cash or equivalent.

是的，我們有——在還清轉換後，我們有 3.85 億美元的現金或等價物。

And so we have made some assumptions under a stress test environment.

所以我們在壓力測試環境下做了一些假設。

A couple of assumptions.

幾個假設。

Number one, we will pay back our convert.

第一，我們將償還我們的皈依者。

The good news of paying back our convert is that we would save roughly about $23 million a year in interest payment.

償還我們的皈依者的好消息是，我們每年將節省大約 2300 萬美元的利息支付。

Obviously, the cash balance will go down quite a bit.

顯然，現金餘額會下降很多。

We also assume there is no financing work being done.

我們還假設沒有進行融資工作。

And part of the reason is, as you know very well, you probably know much better than I do, last couple of weeks, the market isn't really available.

部分原因是，正如你非常清楚的那樣，你可能比我更了解，過去幾週，市場並不真正可用。

I think it's starting to loosen up a little bit, but we assume no financing.

我認為它開始放鬆一點，但我們假設沒有融資。

We assume no dramatic cutback of headcount or investment for the future.

我們假設未來不會大幅裁員或投資。

This is why I said earlier, we're going to balance profitability and long-term growth.

這就是為什麼我之前說過，我們將平衡盈利能力和長期增長。

We know this will pass.

我們知道這會過去的。

We know things will come back to normal.

我們知道事情會恢復正常。

And we believe we have very competitive strategy and products.

我們相信我們有非常有競爭力的戰略和產品。

So we don't want to compromise the future.

所以我們不想妥協未來。

At the same time, we don't want to put ourselves in a financial difficult position.

同時，我們不想讓自己陷入財務困境。

So we're going to be working balancing that.

所以我們將努力平衡這一點。

But we're not saying that we're going to overhaul anything to disrupt our investment thesis.

但我們並不是說我們要徹底改革任何東西來破壞我們的投資論點。

Given those as kind of the background, we went through the scenario of revenue coming down by 20%, by 30%, by 50%, you would expect anybody to do in modeling.

考慮到這些背景，我們經歷了收入下降 20%、30%、50% 的場景，你會認為任何人都會在建模中這樣做。

And we believe we are quite comfortable.

我們相信我們很舒服。

Unless it's in very extreme condition, which we are not anticipating, we're quite comfortable to be able to [lap] the liquidity and the health -- financial health for a couple of years.

除非它處於我們沒有預料到的非常極端的條件下，否則我們很樂意能夠 [lap] 流動性和健康——幾年的財務健康。

That's very helpful.

這很有幫助。

I want to shift gears a little bit to the enterprise software side.

我想稍微轉向企業軟件方面。

It sounds like things are improving there.

聽起來那裡的情況正在改善。

Can you give us a sense on whether the enterprise software segment grew year-over-year?

您能否告訴我們企業軟件部門是否逐年增長？

And maybe give us a sense of how well you see your go-to-market and your channel.

也許讓我們了解您對市場和渠道的看法。

Is it developing the way that you anticipated?

它是否按照您預期的方式發展？

Yes.

是的。

I don't have -- and I think it's just the year-over-year numbers.

我沒有 - 我認為這只是同比數字。

So -- but I could tell you, from a billings growth perspective, we saw very healthy Q4, better than double digit over Q3.

所以 - 但我可以告訴你，從比林斯增長的角度來看，我們看到了非常健康的第四季度，優於第三季度的兩位數。

And so that feels good.

所以感覺很好。

The business are there.

生意就在那裡。

We have a hiccup.

我們打嗝了。

I think we overcame the hiccup.

我想我們克服了困難。

We have people very committed going after the business.

我們有非常堅定地追求業務的人。

We got infrastructure buildup for both the renew and new businesses that we won't let fall through the crack.

我們為更新業務和新業務建立了基礎設施，我們不會讓這些基礎設施落空。

A while back, it was really us doing -- our doing for not being more diligent on some of those stuff.

不久前，這真的是我們在做的——我們在做這些事情時沒有更加勤奮。

So now I think those are all overcome.

所以現在我認為這些都被克服了。

We have a number of layers that want to sell business, as I said, both in the renew and the new logo -- going after the new logo.

正如我所說，我們有許多想要出售業務的層，包括更新和新徽標 - 追求新徽標。

We have a bigger sales force now.

我們現在擁有更大的銷售隊伍。

And the combination of the Cylance into this IoT portfolio with the UES makes it even more exciting because now each of our sales rep has more things to sell.

將 Cylance 與 UES 結合到這個物聯網產品組合中使其更加令人興奮，因為現在我們的每個銷售代表都有更多的東西要賣。

The Cylance sales rep could sell the UEM, AtHoc and other products, mainly UEM, I believe, and vice versa.

Cylance 銷售代表可以銷售 UEM、AtHoc 和其他產品，我相信主要是 UEM，反之亦然。

They now -- the UEM sales force, now combined as one, could sell the UES product, which included a lot of Cylance AI technology.

他們現在——現在合併為一個的 UEM 銷售團隊可以銷售 UES 產品，其中包括大量 Cylance AI 技術。

So we feel good about the focus.

所以我們對焦點感覺很好。

We feel good about how we align the territories.

我們對如何調整領土感到滿意。

So majority of our sales is still going direct.

所以我們的大部分銷售仍然是直接的。

We are building channel business, but that's probably -- that benefit will probably kick in midyear this year or maybe towards the end of the year.

我們正在建立渠道業務，但這可能是 - 這種好處可能會在今年年中或可能在今年年底出現。

And your next question comes from Daniel Bartus with Bank of America.

您的下一個問題來自美國銀行的 Daniel Bartus。

First, I wanted to ask about the competitive environment for endpoint security.

首先，我想問一下端點安全的競爭環境。

So on the one hand, we have CrowdStrike growing very well, and they have a similar approach, it seems like, to Cylance.

因此，一方面，我們的 CrowdStrike 發展得非常好，而且他們的方法似乎與 Cylance 相似。

And then you have others like VMware and Microsoft that can follow your moves to integrate the classic UEM business with the endpoint security potentially.

然後你有像 VMware 和 Microsoft 這樣的其他公司可以跟隨你的行動，將經典的 UEM 業務與端點安全潛在地集成在一起。

So it'd be great to just get an update on the competitive landscape you're seeing for Cylance.

因此，如果能獲得有關 Cylance 競爭格局的最新信息，那就太好了。

And I'm curious if the combined UEM and security is a real conversation yet with customers.

我很好奇 UEM 和安全性的結合是否是與客戶的真正對話。

And then I have a quick follow-up.

然後我有一個快速跟進。

Okay.

好的。

Okay, those are good questions.

好的，這些都是好問題。

So I took a little while to label -- to lay it out, sorry, not label, to lay it out why we win some of the Cylance deal.

所以我花了一點時間來貼上標籤——把它列出來，抱歉，不是貼上標籤，列出為什麼我們贏得了 Cylance 的一些交易。

As I said earlier, Cylance have secured over 300 new logo in the quarter.

正如我之前所說，Cylance 在本季度獲得了 300 多個新徽標。

And so we're winning against somebody.

所以我們正在戰勝某人。

I don't want to name names who we're winning against.

我不想說出我們正在戰勝的名字。

And it looks like -- to summarize, it looks like where the Cylance won -- the win rate basically comes from: a, we are the mobile leader; b, we don't always need the cloud.

看起來——總而言之，看起來像是 Cylance 獲勝的地方——獲勝率基本上來自： a，我們是移動領導者； b，我們並不總是需要雲。

So we do secure protection on the endpoint, both offline and online, and that's the differentiators; we have now managed service and a full suite of products.

因此，我們在端點上進行安全保護，包括離線和在線，這就是區別；我們現在擁有託管服務和全套產品。

So that also was a factor.

所以這也是一個因素。

So those are -- among other things, those are 3 that I feel jumped out at me when I look at the win.

所以這些是 - 除其他外，當我看到勝利時，我覺得這些是我跳出來的 3 個。

The combination of that whole set of Cylance portfolio with the managed service and the management tools that UEM has is exactly where the market is going and is verified and confirmed by Gartner.

整套 Cylance 產品組合與 UEM 擁有的託管服務和管理工具的結合正是市場的發展方向，並得到了 Gartner 的驗證和確認。

That's what they named this whole segment called UES, Unified Endpoint Security, which is a combination of mobile and fixed, cloud and on-premise, and also manages and threat detection and protection.

這就是他們將整個部分命名為 UES，統一端點安全，它是移動和固定、雲和本地的組合，並且還管理和威脅檢測和保護。

So we just happened to be an early provider of the product, and I'm hoping that, therefore, give us a much more competitive advantage against some of our big players and big competitors out there.

所以我們只是碰巧是該產品的早期供應商，因此我希望這能給我們帶來更多的競爭優勢，以對抗我們的一些大玩家和競爭對手。

And then we'll win, hopefully, a fair share of the deals.

然後，我們有望贏得公平份額的交易。

Finally, most of you have asked me the question about there are some of our traditional competitors that provide site licenses.

最後，你們中的大多數人都問過我一個問題，即我們的一些傳統競爭對手提供網站許可證。

And if you look at everything that we offer, we are above, for example, a site license for a year, ELA 5, will be a lot cheaper than ELA 5 and much better security product.

如果您查看我們提供的所有內容，我們會發現，例如，一年的站點許可證 ELA 5 將比 ELA 5 便宜得多，而且安全產品要好得多。

So ELA 5 is not free, unlike the ELA 3. So I believe that we could be competitive out there.

所以 ELA 5 不是免費的，不像 ELA 3。所以我相信我們可以在那裡具有競爭力。

Great.

偉大的。

That's very helpful.

這很有幫助。

And then just quickly on the licensing strength.

然後很快就獲得了許可強度。

When we entered this year, you guys were thinking that segment might be down 5% or so year-over-year.

當我們進入今年時，你們認為該細分市場可能會同比下降 5% 左右。

And then it turned out to really surprise, up 15%.

然後結果真的很驚喜，增長了 15%。

So I was wondering if you could just kind of walk through what changed throughout the year.

所以我想知道你是否可以簡單地了解一下全年發生的變化。

And more importantly, did this strength come at the expense of some fiscal '21 licensing strength?

更重要的是，這種實力是否是以犧牲一些 21 財年的許可實力為代價的？

Yes.

是的。

Yes, I like to be quite conservative.

是的，我喜歡相當保守。

The problem with the -- I mean, it is a good business because it's very good margin.

問題 - 我的意思是，這是一項很好的業務，因為它的利潤率非常高。

And unfortunately, you all know very well that it's somewhat lumpy.

不幸的是，你們都非常清楚它有些粗糙。

And the timing is a little hard to predict than just kind of enterprise transactions.

與企業交易相比，時間有點難以預測。

So because of that, I'm always conservative.

所以正因為如此，我總是很保守。

I think -- I prefer to still plan it at about a 250 mark for the FY '21 and hoping would do better.

我想——我更願意在 21 財年將其計劃在 250 分左右，並希望能做得更好。

I mean -- but it is really hard to predict.

我的意思是——但這真的很難預測。

Now this quarter, I didn't expect it to come in that strong, honestly.

現在這個季度，老實說，我沒想到它會如此強勁。

It's been strong for the entire year.

全年都很強勁。

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。

Just trying to understand the BTS segment a little bit more.

只是想更多地了解 BTS 細分市場。

Could you speak to the magnitude of the decline in the quarter?

你能談談本季度下降的幅度嗎？

And then, is that driven predominantly from, like, royalties and the volume of production?

然後，這是否主要來自版稅和產量？

Or are there other nonrecurring items in there like professional services, I guess, the licenses of tools that may have contracted?

或者那裡還有其他非經常性項目，我猜，可能已經簽約的工具許可證？

Yes.

是的。

Paul, unfortunately, it's a little bit of everything.

保羅，不幸的是，這只是一點點。

So first off, royalties are down.

所以首先，版稅下降了。

We have projects, we believe, that we were going to get the developer seats that has been delayed.

我們有一些項目，我們相信，我們將獲得已被推遲的開發者席位。

And once the project -- the new projects are being delayed, I remind you, they didn't go away at all.

一旦項目——新項目被推遲，我提醒你，它們根本沒有消失。

It's just been delayed because a lot of these are Tier 1 and OEM.

它只是被推遲了，因為其中很多是第 1 層和 OEM。

They start looking at the auto sales figures, and they started to become a little concerned.

他們開始查看汽車銷售數據，開始有點擔心。

They'll be a little more cautious.

他們會更加謹慎一些。

We still won the projects.

我們仍然贏得了項目。

There's no question about it.

毫無疑問。

And -- but then the developer seats business have gone down.

而且——但後來開發商席位業務下滑。

And those are the higher, you call it, onetime, the immediate revenue type.

這些是更高的，你稱之為一次性的直接收入類型。

And then once the developer seats got slowed down, normally, they come with some portion of professional services so that they have us help them to deploy it and to start the new projects.

然後，一旦開發人員席位放慢，通常，他們會提供一些專業服務，以便他們讓我們幫助他們部署它並啟動新項目。

That, of course, has also slowed down because of that.

當然，這也因此而放緩。

So it is a rather unusual situation, and I don't expect it to last long.

所以這是一個相當不尋常的情況，我預計它不會持續很長時間。

Our game plan is to do more the professional services work on a remote basis.

我們的遊戲計劃是在遠程基礎上做更多的專業服務工作。

Then, of course, we have to get the authorization from the customers, which they are working remote also.

然後，當然，我們必須獲得客戶的授權，他們也在遠程工作。

And so we should be able to get that.

所以我們應該能夠做到這一點。

And second thing is to go after more of the GEM growth because then, they would need to buy developer seats.

第二件事是追求更多的創業板增長，因為那時他們需要購買開發者席位。

So those are the 2 and continue working with our auto customers, obviously, because they will come back.

顯然，這些是 2 並繼續與我們的汽車客戶合作，因為他們會回來。

I mean this is not going to just end.

我的意思是這不會結束。

So they will come back.

所以他們會回來的。

It may take a quarter, another quarter, but that's about where I expect it to be.

這可能需要一個季度，另一個季度，但這就是我所期望的。

Okay, that's helpful.

好的，這很有幫助。

Just shifting to COVID-19.

只是轉移到 COVID-19。

In regards to the promotions that you've implemented or announced, could you provide some uptake -- some metrics on the uptake of that?

關於您已經實施或宣布的促銷活動，您能否提供一些接受情況——一些關於接受情況的指標？

And what do you expect in terms of potential conversion longer term?

您對潛在的長期轉化有何期望？

Yes.

是的。

Okay, this is -- my people are probably going to yell at me, but I'll give you the update.

好的，這是 - 我的人可能會沖我大喊大叫，但我會告訴你最新情況。

In the first week, I think we saw our pipeline grew at least $30 million.

在第一周，我認為我們的管道至少增長了 3000 萬美元。

And these are good pipeline because this is the one that actually came to us with strong needs.

這些都是很好的管道，因為這實際上是我們有強烈需求的管道。

Customers are able, in some cases, process appeal in record time.

在某些情況下，客戶能夠在創紀錄的時間內處理上訴。

I mean you guys know all this.

我的意思是你們都知道這一切。

So I'm not saying anything that you don't.

所以我不會說你沒有說的話。

So -- and I don't -- I'd say we do have that situation and so is a lot of different software company.

所以 - 我沒有 - 我會說我們確實有這種情況，很多不同的軟件公司也是如此。

So I'm not saying anything to you that are very standout-ish and very unique.

所以我不會對你說任何非常出色和非常獨特的東西。

But I just want you all to know that we do have a piece of business in an environment like this, unfortunately, benefit from the -- from this whole crisis.

但我只是想讓你們都知道，不幸的是，我們在這樣的環境中確實有一份業務，從整個危機中受益。

And so we do okay in that area.

所以我們在那個領域做得很好。

And so that's about the only metrics I could share with you.

這就是我可以與您分享的唯一指標。

That's more than what anybody will tell you.

這比任何人都會告訴你的要多。

Your next question comes from Mike Walkley with Canaccord Genuity.

您的下一個問題來自於 Canaccord Genuity 的 Mike Walkley。

Just following up a little bit on cost structure.

只是跟進一點成本結構。

How should we think about kind of the investment level?

我們應該如何看待投資水平？

It sounds like you guys feel good with the team in place and want to invest for the long term, but OpEx was a little lower than expected this quarter.

聽起來你們對團隊感覺良好，並希望進行長期投資，但本季度的運營支出略低於預期。

And I imagine it could be lower again just given lack of travel, entertainment-type projects, things like that.

我想它可能會再次降低，因為缺乏旅行、娛樂類項目等。

But is there an OpEx rate you're looking at maybe on a run rate for the calendar year to think about?

但是，您是否正在考慮可能在日曆年的運行率上考慮的運營支出率？

I did not calculate that.

我沒有計算過。

We know we have a number of level.

我們知道我們有很多級別。

So for example, in our plan, there are, of course, replacement of attrition of headcount.

例如，在我們的計劃中，當然會有人員減員的替代。

We probably -- again, given this environment, we'll still be hiring people.

我們可能 - 再次，鑑於這種環境，我們仍將招聘人員。

Well, we actually made some offers lately.

好吧，我們最近確實提供了一些報價。

But we're going to hire in areas of quota carriers, people that are billable.

但我們將在配額承運人領域招聘可計費的人員。

So that could help us on the revenue side.

所以這可以幫助我們在收入方面。

And then the other areas, unless it's very specific, like we just recently hired a very strong data scientist.

然後是其他領域，除非非常具體，比如我們最近剛剛聘請了一位非常強大的數據科學家。

And so of course, we'll always be looking for excellent people like that.

當然，我們會一直在尋找這樣的優秀人才。

But other areas, we might slow down.

但在其他領域，我們可能會放慢腳步。

We probably -- not might, we are slowing down.

我們可能 - 不是可能，我們正在放慢速度。

And partly, because it's just everybody is working from home.

部分原因是因為每個人都在家工作。

And we have a global work from home now.

我們現在在家中進行全球工作。

And it's just difficult to do the interview and the processing, the background check and the references check.

而且很難進行面試和處理，背景調查和推薦信檢查。

And so it just takes much longer.

所以它只需要更長的時間。

So there will be some natural reduction of cost built in.

因此，內置成本會自然降低。

Obviously, we look at our capital spending very carefully.

顯然，我們非常仔細地看待我們的資本支出。

And that's also -- like you pointed out, travel goes down literally 95%, probably even conservative when I say that.

這也是 - 就像你指出的那樣，旅行實際上下降了 95%，當我這麼說時可能甚至是保守的。

Nobody is traveling at all.

根本沒有人在旅行。

And there are other areas that we could take some costs out, infrastructures, facilities, that kind of areas.

還有其他領域我們可以減少一些成本，基礎設施，設施，那種領域。

And just for my follow-up question, just circling back to the licensing, which was strong, as you laid out this year.

就我的後續問題來說，就像你今年提出的那樣，回到授權方面，這很強大。

Can you share with us, just kind of heading into this year, what the recurring revenue run rate is?

您能否與我們分享一下，進入今年，經常性收入運行率是多少？

I know 250 might be a good number for the year.

我知道今年 250 可能是一個不錯的數字。

But is there a recurring piece you feel pretty solid for the calendar year coming up?

但是，在即將到來的日曆年中，有沒有讓您覺得非常可靠的反復出現的作品？

Yes.

是的。

So in my model, I mean, as the statement last year, I realized that I probably don't have a whole ton of credibility, because I told everybody it was about 250.

所以在我的模型中，我的意思是，正如去年的聲明，我意識到我可能沒有太多的可信度，因為我告訴大家它大約是 250。

I'm going to tell you it's going to be about 250 for the coming fiscal year.

我要告訴你，下一個財政年度將是大約 250 個。

But I hope this time you will believe me a little bit more.

但我希望這一次你能多相信我一點。

Last year, we have a lot of things -- a lot of deals in play.

去年，我們有很多事情——很多交易正在進行中。

And so -- and they came in through the various time of the year, so different quarters.

所以 - 他們在一年中的不同時間進入，不同的季度。

I believe this year, planning on 250 is reasonable.

我相信今年計劃250是合理的。

Your next question comes from Gus Papageorgiou with PI Financial.

您的下一個問題來自 PI Financial 的 Gus Papageorgiou。

Just a couple of questions.

只是幾個問題。

Steve, on the $27 million goodwill impairment, can you just tell us a little bit what was that for?

史蒂夫，關於 2700 萬美元的商譽減值，你能告訴我們這是為了什麼嗎？

The impairment, I think, was $22 million.

我認為，減值是 2200 萬美元。

$22 million, yes.

2200萬美元，是的。

And that related to the BBM consumer.

這與 BBM 消費者有關。

It was a while back.

有一段時間了。

We licensed -- this was a licensing arrangement, and we were no longer operating the consumer BBM piece.

我們獲得了許可——這是一種許可安排，我們不再經營消費者 BBM 產品。

And eventually, it was known there were certain amounts that we were going to receive under the agreement.

最終，我們知道根據協議我們將收到一定的金額。

And naturally, this -- we had to allocate some goodwill to it back in time.

當然，這 - 我們必須及時分配一些善意。

And since that service has been shut down during the year, the impairment results from that.

由於該服務已在年內關閉，因此造成了損害。

And then just, I guess, on QNX and the auto.

然後，我猜，在 QNX 和汽車上。

So obviously, we're seeing volumes under pressure here in the short term.

很明顯，我們在短期內看到這裡的交易量面臨壓力。

But I guess, part of the plan for QNX is that you should increase your market share, but also, the ASP per car should go up as car manufacturers adopt more software modules.

但我想，QNX 計劃的一部分是你應該增加你的市場份額，而且隨著汽車製造商採用更多的軟件模塊，每輛車的 ASP 應該會上升。

Do you think the -- kind of the ASP growth is going to get pushed back as well?

你認為 ASP 的增長也會被推遲嗎？

Or do you think that just -- it's just a volume issue in the short term, but you should still -- we should still see ASPs increase this year and then increase again next year?

或者你認為這只是 - 這只是短期內的數量問題，但你仍然應該 - 我們仍然應該看到今年平均售價增加，然後明年再次增加？

It is short term in a volume base, not the ASP.

它是短期的數量基數，而不是 ASP。

The ARPU has gone up.

ARPU 上升了。

Because if you look back in the last 3, 4, 5 quarters when we announced the results, we talked about the design win in clusters, instrumentation, Hypervisors, ADAS, OTA.

因為如果回顧過去 3、4、5 個季度我們宣布結果時，我們談到了在集群、儀表、管理程序、ADAS、OTA 方面的設計勝利。

We talk about those wins.

我們談論那些勝利。

Those wins all carry a higher ARPU -- ASP than the traditional IVI business.

這些勝利都比傳統的IVI業務帶來了更高的ARPU——ASP。

Okay.

好的。

So they're not getting deferred at all.

所以他們根本沒有被推遲。

This is just largely...

這只是很大程度上...

Not that we could see.

不是我們能看到的。

We are basically based on -- at this point, it's really more volume versus less volume.

我們基本上是基於 - 在這一點上，它實際上是更多的數量而不是更少的數量。

Your next question comes from Paul Steep with Scotiabank.

您的下一個問題來自豐業銀行的 Paul Steep。

John, can you maybe touch just one -- a little bit about AtHoc and what we've seen there?

約翰，你能不能只談一談——關於 AtHoc 和我們在那裡看到的東西？

Obviously, that's one area that I'm assuming you're seeing a lift in.

顯然，這是我假設你看到提升的一個領域。

And then I'll give you one quick follow-up.

然後我會給你一個快速的跟進。

Yes.

是的。

AtHoc in an environment like this -- so for those of you who were not -- haven't really followed our AtHoc business, it's very strong in the federal government and a more of a kind of -- and I meant federal government, I actually meant the United States federal government.

AtHoc 在這樣的環境中——所以對於那些沒有真正關注我們的 AtHoc 業務的人來說，它在聯邦政府中非常強大，而且更像是一種——我的意思是聯邦政府，我實際上是指美國聯邦政府。

And we have over 2 million seats in the United States federal government space, including armed forces and so forth.

我們在美國聯邦政府空間擁有超過 200 萬個席位，包括武裝部隊等。

And then, of course, in Canada, AtHoc is in the parliament.

然後，當然，在加拿大，AtHoc 在議會中。

And the other G-15 countries, a lot of them uses AtHoc and coordinate security and crisis.

和其他 15 國集團國家一樣，它們中的許多國家使用 AtHoc 並協調安全和危機。

So -- but we don't really -- we haven't really got out of the government and the federal space, which we are beginning to see us getting into.

所以 - 但我們並沒有真正 - 我們還沒有真正擺脫政府和聯邦空間，我們開始看到我們進入。

There's a company called Everbridge, a public company, and they do exactly what we do, but they are more on the state, local and education market, which we're interested in.

有一家名為 Everbridge 的公司，一家上市公司，他們做我們所做的事情，但他們更多地關注我們感興趣的州、地方和教育市場。

So we're hiring people building that up.

所以我們正在招聘人員來建立它。

And so it is -- this is opportunity of growth.

事實就是如此——這是增長的機會。

And it looks like that we are quite competitive.

看起來我們很有競爭力。

And we just released our latest product, which we're very proud of, which is the life cycle management of a crisis.

我們剛剛發布了我們非常自豪的最新產品，即危機的生命週期管理。

And so -- anyway, so I think this is going to be a good growth engine.

所以 - 無論如何，所以我認為這將是一個很好的增長引擎。

Great.

偉大的。

And then the last one from me would be, maybe you could talk a little bit about where you see the organization being -- you've obviously changed things around, integrated Cylance.

然後我的最後一個是，也許你可以談談你對組織的看法——你顯然改變了周圍的東西，整合了 Cylance。

And it looks like you got a new head of field operations and marketing or presumably sales is what that title means.

看起來你有一個新的現場運營和營銷主管，或者可能銷售就是這個頭銜的意思。

How should we think about any changes to the sales force?

我們應該如何看待銷售隊伍的任何變化？

And then secondly, how would you recapture any of the cost saves from letting go a few people in the Cylance area?

其次，您將如何重新獲得因在 Cylance 地區放開一些人而節省的任何成本？

Would you redirect that capital to growth?

你會將這些資本重新用於增長嗎？

Or are you just going to sort of hold on to it in the current environment?

或者你只是想在當前環境中堅持下去？

Yes.

是的。

So first off, I'm very pleased to -- when you combine 2 organization like that who have traditionally their own infrastructure and sales management, I got the luxury to pick the A team between the so-called legacy BlackBerry and Cylance.

所以首先，我很高興——當你將兩個像這樣的傳統上擁有自己的基礎設施和銷售管理的組織結合起來時，我有幸在所謂的傳統 BlackBerry 和 Cylance 之間選擇了 A 團隊。

And it helped save a lot of the management infrastructure costs that we will then throw it back into hiring reps around the world.

它幫助節省了大量的管理基礎設施成本，然後我們將把它重新投入到世界各地的招聘代表中。

So the equation works out fine with us and for us.

所以這個等式對我們和對我們來說都很好。

And Dave Castignola is picked to run sales, field marketing and customer services for Spark, which is a combination for the UEM and Cylance products.

Dave Castignola 被選中負責 Spark 的銷售、現場營銷和客戶服務，Spark 是 UEM 和 Cylance 產品的組合。

And so we now have one organization do that.

所以我們現在有一個組織來做這件事。

And we -- as we cascade down to a number of levels, whether it's the regional manager or country managers and so forth, we obviously have the luxury of picking one versus the other person.

而且我們 - 當我們級聯到多個級別時，無論是區域經理還是國家經理等等，我們顯然可以選擇一個與另一個人。

So that, in my mind, give us a cleaner structure and also give us an opportunity to pick the better person.

所以，在我看來，給我們一個更乾淨的結構，也給我們一個選擇更好的人的機會。

At the same time, there are a number of opportunity out there and geographies and regions that actually have both very strong person and very promising person.

同時，有很多機會和地理和地區實際上既有非常強大的人，也有非常有前途的人。

We're able to deploy 1 of the 2 to a solutions side of the business, which are AtHoc, Secusmart and QNX.

我們能夠將 2 中的 1 部署到業務的解決方案方面，即 AtHoc、Secusmart 和 QNX。

So like, for example, we now have a solution team in Asia-Pac leading by some really good people.

例如，我們現在在亞太地區有一個由一些非常優秀的人領導的解決方案團隊。

And so we're taking advantage of the talent pool and the simplification of the organizations.

因此，我們正在利用人才庫和組織的簡化。

Your next question comes from Trip Chowdhry with Global Equities Research.

您的下一個問題來自全球股票研究公司的 Trip Chowdhry。

Very good execution in a terrible environment.

在糟糕的環境中執行得非常好。

I have 2 quick questions, first, regarding your digital workplace.

我有 2 個簡單的問題，首先，關於您的數字工作場所。

I think you are giving this product free for 6 months.

我認為您免費提供此產品 6 個月。

Do you see that business to give you some uplift, as you mentioned in your prepared remarks, in the second half?

正如您在準備好的講話中提到的那樣，您認為下半年的業務會給您帶來一些振奮嗎？

Do you think that product is playing an important role?

您認為該產品發揮了重要作用嗎？

The second question I have is, Zoom Video is getting more popular, but they are terrible in providing the security and privacy.

我的第二個問題是，Zoom Video 越來越受歡迎，但它們在提供安全性和隱私性方面卻很糟糕。

Do you think some sort of OEM engagement or relationship with companies like Zoom could be -- if they use digital workplace, those issues could be put to rest?

您是否認為與 Zoom 等公司的某種 OEM 合作或關係可能是——如果他們使用數字工作場所，這些問題可以得到解決嗎？

Any thoughts on that?

對此有什麼想法嗎？

Thank you.

謝謝你。

So the first question is Digital Workspace (sic) [Digital Workplace].

所以第一個問題是Digital Workspace (sic) [Digital Workplace]。

It's a brand new product for us.

這對我們來說是一個全新的產品。

We just released it probably no more than a couple of months.

我們剛剛發布它可能不超過幾個月。

And it's slightly early to tell.

現在說還為時過早。

But through this process of remote working from home, we've been seeing some good license movement on Digital Workspace (sic) Digital Workplace , not big enough to make a dent.

但是通過這個在家遠程工作的過程，我們已經看到 Digital Workspace (sic) Digital Workplace 上出現了一些不錯的許可運動，但規模還不足以產生影響。

So I will reserve my comment on this, probably wait until a quarter or 2 from now.

所以我會保留對此的評論，可能要等到現在的四分之一或兩個季度。

But it certainly have picked up already and partly because of the environment we're in.

但它肯定已經回升，部分原因是我們所處的環境。

Not having to deal with VPN and be able to put it on BYOD, it's a huge deal.

不必處理 VPN 並能夠將其放在 BYOD 上，這是一筆大買賣。

It's a huge deal.

這是一筆大買賣。

So -- and we're now integrating, by the way.

所以——順便說一句，我們現在正在整合。

Every one of those desktop, we're putting CylancePROTECT on it.

每一個桌面，我們都在上面安裝 CylancePROTECT。

And so I'm hopeful we're certainly doing the right thing.

所以我希望我們肯定在做正確的事情。

So that's one area.

所以這是一個領域。

Zoom is obviously picking up quite a bit because of the reason of it.

由於它的原因，Zoom 顯然正在回升很多。

And yes, there were some concerns of security and privacy, and not just Zoom, other players, too.

是的，存在一些安全和隱私問題，不僅是 Zoom，其他玩家也是如此。

Zoom is part of our containerized program, meaning that Zoom works in our container.

Zoom 是我們容器化程序的一部分，這意味著 Zoom 在我們的容器中工作。

If you are a UEM customers, our BlackBerry UEM customers running Zoom, you'll already be secured both in the data privacy and the security of it.

如果您是 UEM 客戶，我們運行 Zoom 的 BlackBerry UEM 客戶，您將在數據隱私和數據安全方面受到保護。

That's very wonder -- good to know.

這很奇怪——很高興知道。

So the container, is it -- we're talking about containers in the context of dockers?

所以容器，是不是——我們在碼頭工人的背景下談論容器？

Or -- and -- or is this containerized is in some different context?

或者 - 並且 - 或者這個容器化是在一些不同的環境中？

Basically, if I'm a customer of, say, your Unified Endpoint Management and whatever service I put into that container, by default, they will have the same level of security as the underlying platform provides.

基本上，如果我是統一端點管理的客戶，以及我放入該容器的任何服務，默認情況下，它們將具有與底層平台提供的相同級別的安全性。

Is that the correct way to think about it?

這是正確的思考方式嗎？

Yes.

是的。

Yes.

是的。

So the container I was referring to is our endpoint management software, which is a combination of mobile device management and application management, and we use the container technology there.

所以我說的容器是我們的端點管理軟件，它是移動設備管理和應用程序管理的結合，我們在那裡使用容器技術。

So that wraps around every application and protect the threat and intrusion of that -- of outside agents.

因此，它圍繞著每個應用程序並保護外部代理的威脅和入侵。

So I'm talking about that container.

所以我說的是那個容器。

That is all the time we have for questions.

這就是我們提出問題的所有時間。

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

我想將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。

Thank you.

謝謝你。

I was just having fun.

我只是玩得很開心。

But thank you very much for your time today.

但是非常感謝您今天的寶貴時間。

We look forward to speaking with you at our Analyst Day, which unfortunately, we now need to be on webcast because of the work-in -- shelter-in-place.

我們期待在分析師日與您交談，不幸的是，我們現在需要進行網絡直播，因為需要就地避難。

It will be webcast on April 21 -- coming April 21.

它將在 4 月 21 日進行網絡直播——即將於 4 月 21 日到來。

Lastly, I'd like to take this opportunity to hope you and your family to stay healthy and stay safe as we work together through these challenged times.

最後，我想藉此機會希望您和您的家人在我們共同度過這些充滿挑戰的時期時保持健康和安全。

And I added one statement, this crisis shall pass.

我補充說，這場危機將會過去。

So looking forward to interacting with all of you.

所以期待與大家互動。

Thank you very much for your time.

非常感謝您的寶貴時間。

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。

You may now disconnect.

您現在可以斷開連接。