BlackBerry Ltd (BB) 2020 Q3 法說會逐字稿

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

早上好，歡迎參加 BlackBerry 2020 財年第三季度業績電話會議。

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

我的名字是傑克，我將成為您今天電話會議的主持人。

(Operator Instructions)

（操作員說明）

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

提醒一下，正在錄製本次會議以供重播。

I'd now like to turn the call over to Christopher Lee, Vice President of Finance.

我現在想將電話轉給財務副總裁 Christopher Lee。

Please go ahead, sir.

請繼續，先生。

Thank you, Jack.

謝謝你，傑克。

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

歡迎參加 BlackBerry 2020 財年第三季度業績電話會議。

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本次電話會議。

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 any other factors that the company believes are relevant.

前瞻性陳述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任何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, including the risk factors that are discussed in the company's annual information form, which is included in our annual report on Form 40-F and in our MD&A.

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，包括公司年度信息表中討論的風險因素，該表包含在我們的 40 表年度報告中- F 在我們的 MD&A 中。

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.

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。

I will now turn the call over to John.

我現在將把電話轉給約翰。

Thanks, Chris.

謝謝，克里斯。

Good morning, everybody, and welcome to our call.

大家早上好，歡迎來電。

As a reminder, I will be using a -- referencing non-GAAP numbers in my summary of quarterly results, unless otherwise stated.

提醒一下，除非另有說明，否則我將在我的季度業績摘要中使用 - 參考非 GAAP 數字。

Let me start.

讓我開始吧。

I'm encouraged by our progress in the third quarter as revenue grew sequentially in all of our software businesses.

隨著我們所有軟件業務的收入連續增長，我們在第三季度取得的進展讓我感到鼓舞。

The total company revenue was $280 million, growing 23% year-over-year.

公司總收入為 2.8 億美元，同比增長 23%。

Total software and services revenue was $275 million, it grew 26% year-over-year.

軟件和服務總收入為 2.75 億美元，同比增長 26%。

This is a new record high for the quarter.

這是本季度的新高。

We also recorded double-digit percentage billing growth in the same period.

同期，我們還錄得兩位數的百分比賬單增長。

Software and services revenue growth, excluding Cylance, was 9% sequentially.

不包括 Cylance 在內的軟件和服務收入環比增長 9%。

Earnings per share came in at positive $0.03 and reported free cash flow was a positive $37 million.

每股收益為正 0.03 美元，報告的自由現金流為正 3700 萬美元。

We continue to invest in product development and go-to-market to drive long-term sustainable growth.

我們繼續投資於產品開發和進入市場，以推動長期可持續增長。

Let's move in the business segment to provide you some commentary.

讓我們進入業務領域，為您提供一些評論。

Let's start with the IoT business.

讓我們從物聯網業務開始。

IoT revenue grew 8% sequentially.

物聯網收入環比增長 8%。

Within IoT, both BTS and ESS, the Enterprise Software Solutions, reported sequential growth in billings and revenue.

在物聯網中，BTS 和企業軟件解決方案 ESS 均報告了賬單和收入的連續增長。

In BTS, QNX, the largest part of BTS, continued to perform well.

在防彈少年團中，防彈少年團最大的部分QNX繼續表現良好。

In the quarter, we had a total of 31 design wins, of which 11 were in the automotive market and 20 were in the general embedded market.

本季度，我們共獲得 31 項設計中標，其中 11 項來自汽車市場，20 項來自通用嵌入式市場。

Within the general embedded market, we are experiencing good demand in the industrial vertical.

在一般嵌入式市場中，我們正在經歷工業垂直領域的良好需求。

As noted last quarter, growth in the general embedded market has been a stated strategic objective and priority for us this quarter -- this fiscal year, sorry, this fiscal year.

如上個季度所述，通用嵌入式市場的增長一直是我們本季度的既定戰略目標和優先事項——本財年，對不起，本財年。

There were several very positive developments in the quarter that aligned with BlackBerry QNX strategic goal of increasing ARPU and volume in the auto sectors.

本季度有幾項非常積極的發展與 BlackBerry QNX 增加 ARPU 和汽車行業銷量的戰略目標相一致。

These developments also extend our market leadership in automotive.

這些發展也擴大了我們在汽車領域的市場領導地位。

I'd like to share a few of them with you.

我想和你分享其中的一些。

First, I will highlight Hyundai Autron, a leader in electronic controls software, has selected BlackBerry QNX for 2 design wins.

首先，我將重點介紹電子控制軟件領域的領導者現代 Autron，它選擇了 BlackBerry QNX 獲得 2 項設計大獎。

One is in the ADAS design, which is advanced driver assist and as well as their autonomous driving platform.

一個是 ADAS 設計，它是高級駕駛員輔助以及他們的自動駕駛平台。

This is meaningful because Tier 1 relation -- is a meaningful Tier 1 relationship that provides BlackBerry QNX, an opportunity to work directly with Hyundai.

這是有意義的，因為第 1 層關係是一種有意義的第 1 層關係，它為 BlackBerry QNX 提供了直接與現代合作的機會。

Hyundai happened to be the sixth-largest auto OEM in the world.

現代恰好是世界第六大汽車原始設備製造商。

And its affiliate -- and we also could work -- extend to work with its affiliate for the first time.

它的附屬機構——我們也可以工作——第一次擴展到與其附屬機構合作。

In addition to winning the traditional OEMs, we are also winning with emerging smart ups.

除了贏得傳統的 OEM 之外，我們還贏得了新興的 smart ups。

And I think -- thank you.

我想——謝謝。

This is a quick -- [sneak this word in here], smart up, like smart start-up.

這是一個快速的——[sneak this word in here]，聰明起來，就像聰明的啟動一樣。

Anyway, as an example, Arrival, an electric commercial OEM based in the U.K. have chosen BlackBerry QNX as a safe and secure foundation, again, for the ADAS features in the self-driving vehicles.

無論如何，例如，位於英國的電動商業 OEM Arrival 再次選擇 BlackBerry QNX 作為自動駕駛汽車中 ADAS 功能的安全基礎。

In the quarter, we also entered into a partnership with ETAS to develop a safety-critical platform using AUTOSAR Adaptive standard.

在本季度，我們還與 ETAS 建立了合作夥伴關係，以開發使用 AUTOSAR Adaptive 標準的安全關鍵平台。

Bosch, the world's largest automotive supplier and the parent of ETAS, decided to join forces with BlackBerry to develop this common software platform that will enable the production of safe and secure connected and autonomous vehicle for the future.

全球最大的汽車供應商和 ETAS 的母公司博世決定與黑莓聯手開發這一通用軟件平台，該平台將使未來能夠生產安全可靠的聯網自動駕駛汽車。

Let me give a brief update on the Radar business.

讓我簡要介紹一下雷達業務。

In the quarter, we added 15 new customers, 1-5, including an initial order of 2,000 units from CP Rail, and we are very pleased with that, obviously.

在本季度，我們增加了 15 個新客戶，1-5 個，其中包括來自 CP Rail 的 2,000 台初始訂單，顯然我們對此非常滿意。

And we have repeated purchases for a number of our customers, including Lowe's, Flexi-Van and Bimbo's bakeries.

我們已經為我們的許多客戶重複購買，包括 Lowe's、Flexi-Van 和 Bimbo's 麵包店。

We're also starting to explore expansion in the Europe and Middle East arena.

我們也開始探索在歐洲和中東領域的擴張。

Now a few comments on our enterprise software and services business progress.

現在對我們的企業軟件和服務業務進展發表一些評論。

The sales team is getting back into form and operating with better discipline and accountability.

銷售團隊正在恢復正常狀態，並以更好的紀律和責任感運作。

The team has restored a normal cadence in managing the pipeline and converting the pipeline to billings.

該團隊已經恢復了管理管道並將管道轉換為賬單的正常節奏。

As a result, our pipeline increased nicely in both numbers of opportunity and dollar size since the second fiscal quarter.

結果，自第二財季以來，我們的管道在機會數量和美元規模上都有很好的增長。

Revenue for UEM, AtHoc and Secusmart, all grew sequentially.

UEM、AtHoc 和 Secusmart 的收入均環比增長。

These included a contribution for our new continuous authentication product, BlackBerry Intelligent Services, we name it BIS.

其中包括對我們新的連續身份驗證產品 BlackBerry Intelligent Services（我們將其命名為 BIS）的貢獻。

BIS is gaining traction in the market as evidenced by high-profile wins such as the Department of National Defense in Canada and Julius Baer Group.

BIS 在市場上的吸引力越來越大，加拿大國防部和瑞士寶盛集團等備受矚目的勝利就是明證。

Julius Baer Group is one of the oldest and largest banking institutions in Switzerland.

瑞士寶盛集團是瑞士歷史最悠久、規模最大的銀行機構之一。

And as a reminder, we only released this product in August.

提醒一下，我們只在 8 月發布了這款產品。

Next, on the customer front.

接下來，在客戶面前。

Our regulated industry business remained healthy and stable.

我們的受監管行業業務保持健康穩定。

We added a number of new logo wins in the comparative situation across federal government agencies worldwide.

在全球聯邦政府機構的比較情況下，我們添加了一些新的徽標。

Including in Canada, Germany, Panama, Poland, Romania, Saudi Arabia as well as United States.

包括加拿大、德國、巴拿馬、波蘭、羅馬尼亞、沙特阿拉伯以及美國。

Furthermore, in the United States, State Agency, we won the Alaskan Army National Guard and the California Department of Technology, just to name a few.

此外，在美國國家機構，我們贏得了阿拉斯加陸軍國民警衛隊和加州技術部，僅舉幾例。

We also achieved notable progress in the financial services and energy verticals, with wins like Bank of China, Mizuho Bank, Great Eastern Life Assurance.

我們在金融服務和能源垂直領域也取得了顯著進展，如中國銀行、瑞穗銀行、大東方人壽等。

Great Eastern Life Assurance has happened to be the largest life insurance company in Singapore and Malaysia.

大東方人壽保險恰好是新加坡和馬來西亞最大的人壽保險公司。

We also won ScottishPower, [I going to be naming] just a few of our new wins.

我們還贏得了 ScottishPower，[我要命名] 只是我們的一些新勝利。

On the U.S. National Security Fund, we partnered with CACI International and to provide the first secure and certified mobile communication applications, utilizing BlackBerry's SecuSUITE secure voice and text -- secure text technology.

在美國國家安全基金中，我們與 CACI International 合作，利用 BlackBerry 的 SecuSUITE 安全語音和文本——安全文本技術，提供了第一個安全且經過認證的移動通信應用程序。

The initial target market will be more than 4 million United States government-issued cellphones.

最初的目標市場將是超過 400 萬部美國政府發行的手機。

Our application meet the NSA stringent commercial solution for classified program requirements and it's the only solution of this kind in the FedRAMP certification.

我們的應用程序符合 NSA 對機密程序要求的嚴格商業解決方案，它是 FedRAMP 認證中唯一的此類解決方案。

Lastly, on the product front, we introduced CylancePROTECT for mobile endpoints.

最後，在產品方面，我們為移動終端引入了 CylancePROTECT。

This mobile threat defense which now referred to from now on as MTD products -- this MTD product integrates AI endpoint security capabilities for Cylance and for -- as well as the endpoint management functionality from UEM.

這種移動威脅防禦現在被稱為 MTD 產品——該 MTD 產品集成了 Cylance 和 for 的 AI 端點安全功能——以及來自 UEM 的端點管理功能。

This second-generation MTD product, which we deliver only 8 months after the close of acquisition demonstrated a collaborative teamwork of the 2 development teams.

我們在完成收購後僅 8 個月就交付了這款第二代 MTD 產品，展示了兩個開發團隊的協作團隊精神。

The teams work very well together to execute a common product road map and share the same vision.

團隊合作得很好，以執行共同的產品路線圖並擁有相同的願景。

We have a total of 14, 1-4, 14 beta customers, which includes several top multi financial institutions and notable telecommunication companies.

我們共有 14、1-4、14 個 beta 客戶，其中包括幾家頂級的多金融機構和著名的電信公司。

They all have shared very positive feedback.

他們都分享了非常積極的反饋。

In fact, we received our first customer order during the quarter.

事實上，我們在本季度收到了第一筆客戶訂單。

Spark, our secure IoT platform is progressing well, with the addition of these 2 products, the MTD product I just mentioned and the BIS product I mentioned earlier.

Spark，我們的安全物聯網平台進展順利，加入了我剛才提到的 MTD 產品和前面提到的 BIS 產品這兩個產品。

Moving on to our licensing business.

繼續我們的許可業務。

Revenue increased double-digit percentage year-over-year growth, which is slightly ahead of our expectation for the quarter.

收入同比增長兩位數百分比，略高於我們對本季度的預期。

We maintained a full year outlook that we provided last quarter for our licensing business.

我們維持了上個季度為我們的許可業務提供的全年展望。

Now on to the BlackBerry Cylance business.

現在進入 BlackBerry Cylance 業務。

Revenue increased 13% year-over-year, 1-3.

收入同比增長 13%，1-3。

ARR was $171 million, up 15%, 1-5, year-over-year.

ARR 為 1.71 億美元，同比增長 1-5% 15%。

Our dollar-based net retention rate was 99%.

我們基於美元的淨保留率為 99%。

And we ended the quarter with 20% year-over-year growth in active subscription customers.

我們在本季度結束時活躍訂閱客戶同比增長 20%。

We anticipate stronger growth in the future as we have now released an enhanced endpoint detection and response, the EDR technology product and as well as a single-agent platform.

我們預計未來會有更強勁的增長，因為我們現在發布了增強的端點檢測和響應、EDR 技術產品以及單代理平台。

The lack of these features in the past have prevented us from winning more deals as well as the larger-sized deals, of course, until now.

過去，這些功能的缺乏使我們無法贏得更多交易以及更大的交易，當然，直到現在。

By adding BlackBerry resources, we're able to deliver both products at the end of the third quarter, which are the OPTICS 2.4, which is the EDR product that I mentioned earlier, shipped in October this year, followed by the release of our single-agent platform, our internal code name called Cocoon last month.

通過添加 BlackBerry 資源，我們能夠在第三季度末交付這兩種產品，即 OPTICS 2.4，這是我之前提到的 EDR 產品，於今年 10 月發貨，隨後發布了我們的單曲-agent平台，上個月我們內部代號叫Cocoon。

These new products improve our capacity to address our customer cybersecurity needs across the entire spectrum.

這些新產品提高了我們在整個範圍內滿足客戶網絡安全需求的能力。

Cylance endpoint security is best known for its AI-driven prediction and production.

Cylance 端點安全以其人工智能驅動的預測和生產而聞名。

Our team has won a number of new deals in competitive environments, which are -- with the enterprise-sized customers.

我們的團隊在競爭激烈的環境中贏得了許多新交易，這些交易是——與企業規模的客戶。

I will name a few for you, such as the AmBank Group in Malaysia, the International Container Terminal Services in the Philippines, the AES Corporation, Deloitte and Molex in the United States.

我給大家舉幾個例子，比如馬來西亞的 AmBank Group，菲律賓的 International Container Terminal Services，美國的 AES Corporation，Deloitte 和 Molex。

In the quarter, we also released our managed service offering, CylanceGUARD.

在本季度，我們還發布了我們的託管服務產品 CylanceGUARD。

Market demand and pipeline has been strong, especially in the SMB, small-medium business sector.

市場需求和渠道一直很強勁，尤其是在 SMB 和中小型企業領域。

The complete offering of these products and services will, no doubt, help drive stronger revenue growth next year.

毫無疑問，這些產品和服務的完整供應將有助於推動明年更強勁的收入增長。

Before I turn the call over to Steve, let me make a couple of comments regarding the Cylance integration.

在我將電話轉給史蒂夫之前，讓我對 Cylance 集成發表一些評論。

We continue to be ahead in the joint integration efforts.

我們在聯合整合方面繼續領先。

We're achieving the product development synergies we discussed when we announced the acquisition, including the MTD product, which I discussed earlier, that uses the -- as well as case that integrated QNX and Cylance technologies together, both of which will be demonstrated at CES in 3 weeks.

我們正在實現我們在宣布收購時討論的產品開發協同效應，包括我之前討論過的 MTD 產品，它使用 - 以及將 QNX 和 Cylance 技術集成在一起的案例，這兩者都將在CES 3 週後。

Both customer and industry analysts have told us our product meets the needs of a large addressable market of both fixed and mobile endpoints, where management and security for endpoints are now converging.

客戶和行業分析師都告訴我們，我們的產品滿足了固定和移動端點的大型可尋址市場的需求，端點的管理和安全性現在正在融合。

We are now ready to increase sales and marketing synergies as well as partner cross-selling.

我們現在準備增加銷售和營銷協同效應以及合作夥伴交叉銷售。

Given the operational efficiency gains so far, we remain comfortable that Cylance will be accretive in fiscal 2021.

鑑於迄今為止運營效率的提高，我們仍然相信 Cylance 將在 2021 財年實現增長。

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

有了這個，讓我把電話轉給史蒂夫·雷，以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。

Also, please refer to the supplemental table in the press release for the GAAP and non-GAAP details.

此外，有關 GAAP 和非 GAAP 詳細信息，請參閱新聞稿中的補充表格。

We delivered third quarter non-GAAP total company revenue of $280 million and GAAP total company revenue of $267 million.

我們實現了第三季度非 GAAP 公司總收入 2.8 億美元和 GAAP 公司總收入 2.67 億美元。

I will break down revenue shortly.

我將很快分解收入。

Third quarter total company gross margin was 77%.

第三季度公司總毛利率為77%。

Our non-GAAP gross margin includes software deferred revenue acquired but not recognized of $13 million and excludes restructuring costs of $3 million and stock compensation expense of $1 million.

我們的非公認會計原則毛利率包括 1300 萬美元的已收購但未確認的軟件遞延收入，不包括 300 萬美元的重組成本和 100 萬美元的股票補償費用。

Operating expenses of $195 million were up sequentially by $2 million as we manage spending while continuing to invest in product development and go-to-market.

由於我們在管理支出的同時繼續投資於產品開發和進入市場，因此 1.95 億美元的運營費用環比增加了 200 萬美元。

Our non-GAAP operating expenses exclude $35 million in amortization of acquired intangibles, which represents about $0.06 of GAAP loss 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，這相當於每股 GAAP 虧損約 0.06 美元。

Additionally, our non-GAAP operating expenses exclude $14 million in stock compensation expense, $4 million for software deferred commissions expense acquired, $7 million in restructuring costs and a benefit of $20 million related to the fair value adjustment on the convertible debentures.

此外，我們的非公認會計原則運營費用不包括 1400 萬美元的股票補償費用、400 萬美元的軟件遞延佣金費用、700 萬美元的重組成本以及與可轉換債券公允價值調整相關的 2000 萬美元的收益。

Non-GAAP operating income was $20 million and non-GAAP net income was $17 million.

非美國通用會計準則營業收入為 2000 萬美元，非美國通用會計準則淨收入為 1700 萬美元。

Non-GAAP earnings per share was $0.03 in the quarter.

本季度非 GAAP 每股收益為 0.03 美元。

Our adjusted EBITDA was $38 million this quarter, excluding the non-GAAP adjustments previously mentioned.

本季度我們調整後的 EBITDA 為 3800 萬美元，不包括前面提到的非 GAAP 調整。

This equates to an adjusted EBITDA margin of 14%.

這相當於調整後的 EBITDA 利潤率為 14%。

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 $275 million, representing 98% of total company revenue, broken down as follows: IoT accounted for 52% of total revenue, BlackBerry Cylance accounted for 19% of total revenue and licensing accounted for 27% of total revenue.

軟件和服務總收入為 2.75 億美元，占公司總收入的 98%，細分如下：物聯網佔總收入的 52%，黑莓 Cylance 佔總收入的 19%，許可佔總收入的 27%。

Other revenue of 2% is solely comprised of service access fees.

2% 的其他收入完全由服務訪問費組成。

Service access fees were $5 million, down from $9 million or 44% year-over-year.

服務訪問費為 500 萬美元，低於去年同期的 900 萬美元或 44%。

Service access fees were expected to decline given the continued wind down of this legacy business.

鑑於這項傳統業務的持續關閉，預計服務訪問費將下降。

Recurring software and services revenue, including BlackBerry Cylance, was above 90% in the quarter.

本季度，包括 BlackBerry Cylance 在內的經常性軟件和服務收入佔比超過 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 $970 million, which increased by $32 million from the previous quarter ended August 31, 2019.

現金、現金等價物和投資總額為 9.7 億美元，比截至 2019 年 8 月 31 日的上一季度增加了 3200 萬美元。

Our net cash position was $365 million at the end of the quarter.

截至本季度末，我們的淨現金頭寸為 3.65 億美元。

Free cash flow before considering the impact of acquisition and integration expenses, restructuring costs and legal proceedings was positive $41 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，自由現金流為正 4100 萬美元。

Cash generated from operations was $40 million, and capital expenditures were $3 million.

運營產生的現金為 4000 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 now turn the call back to John to provide our financial outlook.

我現在將電話轉回給約翰，以提供我們的財務前景。

Thank you, Steve.

謝謝你，史蒂夫。

For fiscal 2020, we are comfortable with the current consensus estimates for the total company, which is approximately $1.1 billion in non-GAAP revenue and $0.06 in non-GAAP profitability.

對於 2020 財年，我們對整個公司目前的共識估計感到滿意，即非公認會計原則收入約為 11 億美元，非公認會計原則盈利能力約為 0.06 美元。

However, based on the year-to-date performance, we expect to do better than the $0.06 in the non-GAAP profitability.

然而，根據年初至今的表現，我們預計非 GAAP 盈利能力將好於 0.06 美元。

Our current forecast indicates more like $0.08 of earnings per share in fiscal 2020.

我們目前的預測表明，2020 財年的每股收益更像是 0.08 美元。

On a longer-term basis, we're executing upon our strategy of being the trusted provider of secure communication for endpoints.

從長遠來看，我們正在執行我們的戰略，即成為值得信賴的端點安全通信提供商。

Our customers and industry analysts agree that the endpoint management and securities markets are converging and customers demand, better solution to combat increasing security threat to an expanding set of diverse endpoints.

我們的客戶和行業分析師一致認為，端點管理和證券市場正在融合，客戶需要更好的解決方案來應對不斷擴大的各種端點的日益增加的安全威脅。

All these efforts this year, including the acquisition and the integration of Cylance, are to position BlackBerry as the leader in this emerging market.

今年所有這些努力，包括對 Cylance 的收購和整合，都是為了將黑莓定位為這個新興市場的領導者。

BlackBerry has the assets to solve the industry problems, and we are already delivering relevant products such as the Zero Trust platform and AI for security as well as many other different products.

黑莓擁有解決行業問題的資產，我們已經在交付相關產品，例如零信任平台和人工智能安全以及許多其他不同的產品。

We believe that we could be a winner in this fast-growing $20 billion post-market.

我們相信我們可以成為這個快速增長的 200 億美元後市場的贏家。

We look forward to discussing more of our plans in our FY '21 financial outlook at our next Analyst Day, which happens to be April 21, in San Ramon.

我們期待在下一個分析師日（恰好是 4 月 21 日）在聖拉蒙討論我們在 21 財年財務展望中的更多計劃。

I will now open the call for Q&A.

我現在將打開問答電話。

Jack?

傑克？

(Operator Instructions) Steven Fox with Cross Research.

（操作員說明）交叉研究的 Steven Fox。

A couple of questions, if I could.

有幾個問題，如果可以的話。

First of all, John, you mentioned that the UEM revenues rose quarter-over-quarter, but I didn't quite get the details behind that in the quarter.

首先，約翰，您提到 UEM 收入環比增長，但我不太了解該季度背後的細節。

Can you maybe just provide some color as to what drove the sequential increase?

您能否就推動連續增長的原因提供一些顏色？

And then looking ahead to the fourth quarter, it looks like you're looking for some further sequential increases in revenues.

然後展望第四季度，您似乎正在尋找收入的進一步連續增長。

Can you talk about where you're most confident in revenues growing fourth quarter versus third quarter?

您能否談談您對第四季度與第三季度的收入增長最有信心的地方？

And then I have a quick follow-up.

然後我有一個快速跟進。

Okay, great.

好，太棒了。

Thank you, Steven.

謝謝你，史蒂文。

Yes, the UEM product, we just happened to -- if you think about it a quarter ago, we have signaled that the pipeline is still strong.

是的，UEM 產品，我們只是碰巧 - 如果你在一個季度前考慮它，我們已經表示管道仍然很強大。

We have a little bit of a conversion problems, that was in Q2.

我們有一點轉換問題，那是在第二季度。

Q3, we have much better focus on converting the pipeline into revenue.

第三季度，我們更好地專注於將管道轉化為收入。

And so we're fortunate to close a number of business that we're expecting.

因此，我們很幸運地關閉了一些我們期待的業務。

It's really general UEM as well as the customer got impressed with the products and the road map and security, especially the BlackBerry Intelligent Security Solutions, which are very -- quite slick.

這真的是一般的 UEM 以及客戶對產品、路線圖和安全性印象深刻，尤其是 BlackBerry 智能安全解決方案，它們非常——非常巧妙。

I say so myself.

我自己這麼說。

And so the combination of really a better focus as well as the ability to deliver the road map, especially above industry category or caliber of security, helps us drive more business.

因此，真正更好的重點與交付路線圖的能力相結合，尤其是在行業類別或安全水平之上，有助於我們推動更多業務。

And yes, we expect to see a continued strengthening of that in Q4.

是的，我們預計第四季度會繼續加強。

In UEM, in particular?

特別是在UEM？

Yes, UEM, yes.

是的，UEM，是的。

And again, all 3 businesses done well.

再一次，所有 3 項業務都做得很好。

I mean all 3 components of that -- of the enterprise software business, which was Secusmart and AtHoc.

我的意思是企業軟件業務的所有 3 個組成部分，即 Secusmart 和 AtHoc。

Secusmart are more government-based.

Secusmart 更加以政府為基礎。

We have a number of pilots going.

我們有很多飛行員要去。

We've got very committed partners in CACI, which just happened to be one of the largest system integrators in the United States federal governments as well as in the AtHoc space.

我們在 CACI 中有非常堅定的合作夥伴，它恰好是美國聯邦政府以及 AtHoc 領域最大的系統集成商之一。

The AtHoc space, we see a lot of opportunities, obviously, not only in the federal space, but as well as the state and education sector.

AtHoc 領域，我們看到了很多機會，顯然，不僅在聯邦領域，而且在州和教育部門。

Great.

偉大的。

That's very helpful.

這很有幫助。

And then just as a quick follow-up.

然後作為快速跟進。

You mentioned momentum now building with QNX on the non-auto side and you mentioned industrial.

您提到了現在 QNX 在非汽車方面的發展勢頭，您還提到了工業領域。

What's the time line for turning some of those wins into revenues?

將其中一些勝利轉化為收入的時間表是什麼？

Is it much different than auto?

跟汽車有很大區別嗎？

Can you just add some color on that?

你能在上面加點顏色嗎？

Yes, it should be faster than auto.

是的，它應該比自動更快。

So the design win could go into production a lot sooner and go for a development cycle and then delivering the production a lot sooner because if you notice the auto business, is you have to win the design win with the Tier 1 and the OEM.

因此，設計勝利可以更快地投入生產，進入一個開發週期，然後更快地交付生產，因為如果你注意到汽車業務，你必須贏得一級和 OEM 的設計勝利。

And then they would then incorporate into the design of the car.

然後他們會融入到汽車的設計中。

And then the car comes out in a year or 2 later.

然後汽車在一兩年後問世。

So there is a period in there, of at least 2 to 3 years that you see a low in the revenue and then it goes up as they ship it.

所以有一段時間，至少 2 到 3 年，你會看到收入很低，然後隨著他們發貨而上升。

In a GEM market, the cycle to the market is a lot faster than the auto sectors.

在創業板市場，上市週期比汽車行業快得多。

Gus Papageorgiou with PI Financial.

Gus Papageorgiou 與 PI Financial。

I also just wanted to focus on that -- on the QNX progress in the -- outside the auto vertical.

我也只是想關注汽車垂直領域之外的 QNX 進展。

Can you just talk a little bit about the ASPs in that vertical versus the auto?

你能談談垂直領域與汽車領域的 ASP 嗎？

I know that in auto like there are several QNX modules that go into -- or potentially several modules that go into car.

我知道在汽車中，有幾個 QNX 模塊進入 - 或者可能有幾個模塊進入汽車。

But if you look at the non-auto, can you compare the ASPs there?

但是如果你看看非汽車，你能比較那裡的 ASP 嗎？

And I guess, could you just kind of highlight what industries you're having success in?

我想，你能強調一下你在哪些行業取得了成功嗎？

Yes.

是的。

A quarter ago, we were having success in the energy sectors.

一個季度前，我們在能源領域取得了成功。

And I would say, I didn't really focus on the ARPU or the ASP, but kind of an educated guess on my part, the numbers are probably a little lower on an ARPU basis.

我會說，我並沒有真正關注 ARPU 或 ASP，但在我看來，這是一種有根據的猜測，在 ARPU 的基礎上，這些數字可能要低一些。

However, the volume is going to be a lot higher.

但是，音量會高很多。

So I would think overall revenue on a constant runway basis will probably be higher than the auto sectors.

因此，我認為在恆定跑道基礎上的總體收入可能會高於汽車行業。

By the way, I forgot also the medical sector.

順便說一句，我也忘記了醫療部門。

And over what time line do you think, John, you'd see that the non-auto would eclipse auto revenue?

約翰，你認為在什麼時間線內，你會看到非汽車行業的收入會超過汽車行業的收入？

Yes.

是的。

As I said earlier to Steve, the time line for the GEM is going to be faster, the gestation period is going to be faster -- the revenue is going to be faster than the auto side.

正如我之前對史蒂夫所說，創業板的時間線會更快，醞釀期會更快——收入將比汽車方面更快。

Daniel Bartus with BofA Securities.

美國銀行證券公司的丹尼爾·巴圖斯。

Dan.

擔。

First, I just wanted to ask about Cylance.

首先，我只是想問一下 Cylance。

It's great to hear about the new EDR update but can you give us a sense of how much of the customer base already buys EDR?

很高興聽到新的 EDR 更新，但您能否告訴我們有多少客戶群已經購買了 EDR？

And obviously, just curious how significant of an upsell cycle that could be?

顯然，只是好奇這可能有多大的追加銷售週期？

It's interesting.

這真有趣。

So the -- in general, this is a generalized statement.

所以——總的來說，這是一個籠統的陳述。

In general, the SMB markets are more focused on EPP.

總的來說，中小企業市場更關注 EPP。

The very large institutions are more focused on EDR.

非常大的機構更關注 EDR。

There has always been even prior to BlackBerry involvement, there's always been that tug of war in the market.

甚至在黑莓參與之前，市場上就一直存在拉鋸戰。

Is EPP, which is protection, more important than remediation, detect and remediation?

EPP，即保護，是否比補救、檢測和補救更重要？

So this is -- it's kind of the ongoing discussion in the industry.

所以這是 - 這是業內正在進行的討論。

So the good thing about this quarter is we finally just put that discussion to rest.

因此，本季度的好處是我們終於結束了討論。

We don't -- we just -- we will provide whatever the customer would want.

我們不——我們只是——我們將提供客戶想要的任何東西。

We have the best EPP technology that market acknowledged.

我們擁有市場認可的最佳 EPP 技術。

And now we have a very strong EDR as well as single in-store.

現在我們有一個非常強大的 EDR 以及單一的店內。

See, the other thing about the single agent was also a factor that customers find it tedious to do multiple installs.

看，關於單一代理的另一件事也是客戶發現進行多次安裝很乏味的一個因素。

So we could now do one.

所以我們現在可以做一個。

And then we order added managed service.

然後我們訂購了添加的託管服務。

So very strong lineup.

如此強大的陣容。

And so we serve all spectrum of the market, the very large, which have literally thousands of people, like banks, you'll be familiar with.

所以我們服務於市場的所有範圍，非常大，有成千上萬的人，比如銀行，你會很熟悉。

And then you have the very small SMB market, which volume-wise is quite high.

然後你有非常小的 SMB 市場，它的數量非常高。

But there's 10, 100, 1,000 users type.

但是有 10、100、1,000 個用戶類型。

So EPP, depending on what sector you're talking about, they have a little bit of a bias between EPP and EDR.

因此，EPP，取決於您所談論的行業，他們在 EPP 和 EDR 之間存在一些偏差。

I -- the good news about us is we eliminate the bias.

我——關於我們的好消息是我們消除了偏見。

We don't need to worry about it anymore.

我們不再需要擔心它了。

People want EPP.

人們想要EPP。

We are about the best there is in the industry.

我們是業內最好的。

Great.

偉大的。

That's helpful.

這很有幫助。

And then for my quick follow-up, on licensing, could you just talk about if the recurring level is starting to grow?

然後對於我的快速跟進，關於許可，您能否談談重複級別是否開始增長？

And is that a story for next year perhaps?

這是明年的故事嗎？

And maybe in general, if you could just give a little bit of color on what continues to drive the outperformance on the licensing?

也許一般來說，如果您可以就繼續推動許可方面的出色表現提供一點顏色？

Yes, yes.

是的是的。

The recurring part, we are kind of pretty much maintain relatively steady, roughly about $160 million a year.

經常性的部分，我們幾乎保持相對穩定，大約每年 1.6 億美元。

And then the total number bounces around about $250 million.

然後總數反彈約 2.5 億美元。

And so there is a lot of opportunity to do licensing business.

所以有很多機會做授權業務。

So it's just a little bit of a hard to predict and it's quarterly.

所以這有點難以預測，而且是每季度一次。

It's not like a sales cycle with a science of where you are, you could kind of predict a little bit with better accuracy and when you're going to close it.

這不像一個銷售週期，它對你所處的位置有科學的認識，你可以更準確地預測一點，以及何時關閉它。

This one is a little bit hard to manage in that.

這個有點難以管理。

But on an annual basis, you should expect us to do about $160 million in a recurring basis.

但按年度計算，您應該期望我們經常性地做大約 1.6 億美元。

And then the rest of them, we will have to bring it in as the quarters develop.

然後其他人，隨著季度的發展，我們將不得不將其引入。

Paul Steep with Scotia Capital.

來自 Scotia Capital 的 Paul Steep。

Could you talk a little bit about the opportunity into 2021 and integrating Cylance further into that EMM-based product?

您能否談談 2021 年的機會以及將 Cylance 進一步集成到基於 EMM 的產品中嗎？

And how you're feeling about that?

你對此有何感想？

And what you think the timing sort of looks like for any uptick on that side?

你認為那一側的任何上漲的時機是什麼樣的？

Let's see.

讓我們來看看。

Very good question.

非常好的問題。

Thank you.

謝謝你。

I'm feeling very good about it.

我對此感覺很好。

And the hint is in my script.

提示在我的腳本中。

We work with a lot of industry analysts.

我們與許多行業分析師合作。

We know from their customer contact, which are big and our customer contact, the customer wanted to have a more orderly platform to integrate many parts of their enterprise software, especially in the security space.

我們從他們的客戶聯繫中得知，這些聯繫很大，我們的客戶聯繫也很大，客戶希望有一個更有序的平台來集成他們企業軟件的許多部分，尤其是在安全領域。

And these are anything from the [employee] management, the application management, the management of travelers assessability through the cloud, to the -- or on-premise and so forth.

這些是從 [員工] 管理、應用程序管理、通過雲對旅行者可評估性的管理，到 - 或內部部署等。

They have so many solutions, it's just not funny.

他們有很多解決方案，這並不好笑。

And so we have a very strong platform in Spark that we will deliver the Zero Trust platform technology, which involves and combines everything I just named, including identity management.

因此，我們在 Spark 中有一個非常強大的平台，我們將提供零信任平台技術，它涉及並結合了我剛才提到的所有內容，包括身份管理。

And so we're working extremely hard.

所以我們非常努力地工作。

Cylance was a very important part of the puzzles.

Cylance是謎題中非常重要的一部分。

We now have it.

我們現在有了。

We integrated, teams are working well together.

我們整合，團隊合作良好。

We will deliver the Spark platform with Zero Trust capability for the combination of both management and security that is not only mobile, but fixed also.

我們將提供具有零信任功能的 Spark 平台，以實現管理和安全性的結合，不僅是移動的，而且是固定的。

So we're very excited about these things.

所以我們對這些事情感到非常興奮。

And we would do much more discussion at our Analyst Day with you all.

我們將在分析師日與大家進行更多討論。

And -- but this is a great opportunity for us, and we believe we not only have the leadership and the DNA for it and the technology for it, we're early than anybody else.

而且——但這對我們來說是一個很好的機會，我們相信我們不僅擁有領導力、DNA 和技術，而且我們比其他任何人都早。

By the way, I'll leave it at that without getting too excited about telling you the product name.

順便說一句，我不會太興奮地告訴你產品名稱。

That helps.

這有幫助。

So maybe just as a final one, the follow-on, the teaser there.

所以也許只是作為最後一個，後續，那裡的預告片。

As I recall, you didn't have the capability around fixed.

我記得，你沒有固定的能力。

Should we think that either 1 of the 3 options, you are either building it and have developed it in-house?

我們是否應該認為這 3 個選項中的任何一個是您正在構建它並在內部開發它？

Would you look to acquire a large existing base?

您是否希望獲得一個龐大的現有基地？

Would that be something?

那會是什麼嗎？

Or would it be a partnership?

或者它會是一個夥伴關係？

And then we'll say happy holidays.

然後我們會說節日快樂。

Why don't I wait to tell you that?

我為什麼不等著告訴你呢？

I don't think acquisition is my first choice.

我不認為收購是我的第一選擇。

Partnership was probably more relevant.

夥伴關係可能更相關。

Trip Chowdhry with Global Equities Research.

與 Global Equities Research 合作的 Trip Chowdhry。

Again, congratulations on a phenomenal execution.

再次祝賀您的出色執行。

A couple of questions.

幾個問題。

I would like to ask is, when we think about security and especially the new paradigm in which Cylance and BlackBerry are these days with machine learning and using that as a way to proactively deter the security glitch before it really happens.

我想問的是，當我們考慮安全性時，尤其是 Cylance 和黑莓如今在機器學習方面的新範式，並以此作為在安全故障真正發生之前主動阻止安全故障的一種方式。

I was wondering, what do you think is the reason that traditional security heavyweights like RSA, Trend Micro Symantec, they haven't been able to pivot themselves to the new world.

我想知道，您認為 RSA、趨勢科技賽門鐵克等傳統安全巨頭無法將自己轉向新世界的原因是什麼。

What is your sense?

你的感覺是什麼？

What is happening in the industry that prevents them from doing something like what you guys are doing?

行業中發生了什麼阻止他們做你們正在做的事情？

Well, Trip, that's a good question.

好吧，特里普，這是個好問題。

And I never underestimate our competitors in the market.

我從不低估我們在市場上的競爭對手。

All of those are good companies that you talked about that have built on the security paradigm, whether it's remote like the RSA, whether it's Symantec, more PC-based and so forth.

您談到的所有這些都是建立在安全範式之上的好公司，無論是像 RSA 這樣的遠程，還是賽門鐵克，更多基於 PC 等等。

I'm sure that they have their development road map and things that they're working on.

我確信他們有他們的發展路線圖和他們正在做的事情。

BlackBerry happens just to want to leapfrog everybody by acquiring Cylance.

黑莓恰好想通過收購 Cylance 超越所有人。

And so we go to the second generation first without even going to the first generation on the AV side.

所以我們先去第二代，甚至沒有去 AV 方面的第一代。

So -- and we see the capability that is needed with machine learning as well as using machine to do the policing and the trapping and the correction of potential attack and threats.

所以——我們看到了機器學習以及使用機器進行監管、誘捕和糾正潛在攻擊和威脅所需的能力。

So I will only speak to the fact that I'm pleased that BlackBerry is able to execute it.

所以我只會說我很高興黑莓能夠執行它。

We have the capacity of the dollars, you know we paid $1.4 billion.

我們有美元的能力，你知道我們支付了 14 億美元。

It was a big -- and you know me well, I mean, that's a big commitment on our part.

這是一個很大的 - 你很了解我，我的意思是，這是我們的一個重大承諾。

And it works out.

它成功了。

We've got great product out with the MTD, for example, in only 8 months, very pleased with that because teams are working well together.

例如，我們在 MTD 中推出了出色的產品，僅用了 8 個月，對此我們非常滿意，因為團隊合作良好。

And we have great vision together.

我們一起擁有偉大的願景。

And this will -- we will be a good player.

這將——我們將成為一名優秀的球員。

It will be a really strong player in the IoT security world.

它將成為物聯網安全世界中真正強大的參與者。

Beautiful.

美麗的。

Also, I was wondering, like, do you have any update on your partnership with Microsoft on various initiatives that you had fostered over the last 6 to 8 months?

另外，我想知道，您是否對過去 6 到 8 個月與微軟在各種舉措上的合作有任何更新？

Yes, Microsoft, and as you know, we deliver a bridge product, which put all the Microsoft application on our platform in the native mode.

是的，Microsoft，如您所知，我們提供了一個橋接產品，它將我們平台上的所有 Microsoft 應用程序置於本機模式。

So in a way, we are competing with Microsoft because they obviously also deliver in-tune with the same capability, but then we have better security, at least, we think so.

因此，在某種程度上，我們正在與微軟競爭，因為他們顯然也提供了具有相同功能的 intune，但我們有更好的安全性，至少我們是這麼認為的。

And so -- and the customer doesn't have to choose to move away from security to use the Microsoft application.

因此，客戶不必選擇放棄安全性來使用 Microsoft 應用程序。

And they, obviously, are very committed to -- most of the customers are very committed to Microsoft applications.

顯然，他們非常致力於 - 大多數客戶都非常致力於 Microsoft 應用程序。

So I think this partnership works well for both.

所以我認為這種夥伴關係對雙方都很好。

Beautiful, beautiful.

漂亮漂亮。

And Steve Capelli has become the Chief Revenue Officer.

史蒂夫·卡佩利（Steve Capelli）已成為首席營收官。

So it seems like he hits home run right off the bat.

所以看起來他馬上就打出本壘打。

Yes, yes, yes.

對對對。

He's the one who's hitting the ball.

他是那個擊球的人。

Yes, I was just also wondering like when -- John, you were at Sybase and Steve Capelli and the whole team did extremely well with the U.S. Federal Government.

是的，我只是想知道什麼時候——約翰，你在 Sybase 和史蒂夫卡佩利，整個團隊在美國聯邦政府中做得非常好。

I was wondering, are we building a pipeline with the U.S. Federal Government with Cylance or BlackBerry products?

我想知道，我們是否正在與美國聯邦政府建立一條使用 Cylance 或 BlackBerry 產品的管道？

And how is it coming along?

進展如何？

Sorry, I didn't get the...

對不起，我沒有收到...

Like in the U.S. Federal Government, the -- how is that coming along?

就像在美國聯邦政府一樣，這是怎麼回事？

Like, are we building our pipeline with the U.S. Federal agencies regarding the product set?

比如，我們是否正在與美國聯邦機構就產品集建立管道？

We are -- yes, Trip, we are very strong in federal.

我們是——是的，特里普，我們在聯邦中非常強大。

So just for example, in only AtHoc as a product, which is the crisis management and emergency management avert systems.

所以僅舉個例子，AtHoc 作為一個產品，它是危機管理和應急管理避免系統。

We have multi-millions of licenses in the United States government with the federal space.

我們在美國政府的聯邦空間擁有數百萬張許可證。

So we're very strong, and we'll continue to expand that pipeline.

所以我們非常強大，我們將繼續擴大這條管道。

So -- and I spoke a little earlier about CACI, that's actually a very strong partnership because they're taking us into the secure communication world in the United States government.

所以——我早些時候談到了CACI，這實際上是一個非常強大的合作夥伴關係，因為他們正在將我們帶入美國政府的安全通信世界。

And so -- and they have the heritage to do it, and they have the credibility to do it.

所以——他們有這樣做的傳統，他們有這樣做的信譽。

And our product meets the highest standard for top secret or secret.

我們的產品符合最高機密或機密的最高標準。

And so we're doing a lot of things together with not only ourselves directly in the federal space, but also with the partners.

因此，我們不僅直接在聯邦空間與我們自己一起做很多事情，還與合作夥伴一起做很多事情。

James Faucette with Morgan Stanley.

摩根士丹利的詹姆斯·福塞特。

This is Meta Marshall for James.

這是詹姆斯的 Meta Marshall。

Just one question for me.

對我來說只有一個問題。

You spoke about kind of seeing better discipline and the pipeline increasing amongst your salesforce?

您談到在您的銷售人員中看到更好的紀律和管道增加？

And I know you were making kind of some changes to go from gathered-a-100 mentality.

而且我知道你正在做出一些改變，以擺脫聚集 100 人的心態。

And just do you consider that complete?

你認為那是完整的嗎？

Or are there still kind of some transitions underway?

或者是否還有一些過渡正在進行中？

Just kind of on the salesforce mentality, particularly around some of the more legacy products.

只是銷售人員的心態，尤其是在一些更傳統的產品方面。

Yes, thanks.

是啊謝謝。

We have -- we established a framework, it took us a couple of quarters.

我們已經 - 我們建立了一個框架，我們花了幾個季度。

There were some -- there was a little bit of a glitch on our part when we make some changes.

有一些——當我們做出一些改變時，我們有一點小故障。

So those changes are behind us.

所以這些變化已經過去了。

So we have a good platform now, all now what we're doing is to concentrate on not only executing, turning the pipeline into billings, creating that momentum, but also hiring more of the salespeople that fit into that model.

所以我們現在有一個很好的平台，現在我們所做的不僅僅是專注於執行，將管道轉化為賬單，創造這種勢頭，而且還僱傭更多適合這種模式的銷售人員。

And so that's a metric that we focus a lot on inside the company.

所以這是我們在公司內部非常關注的一個指標。

So we feel good about where we are now, the management team and so forth, and we will go -- we will continue to add -- adding fuel to the fire, I guess, maybe that's the word, we think the way to think about it.

所以我們對我們現在所處的位置、管理團隊等感覺良好，我們會去——我們將繼續增加——火上澆油，我猜，也許這就是這個詞，我們認為的思考方式關於它。

So we feel we're doing pretty good right now.

所以我們覺得我們現在做得很好。

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

我現在想將電話轉回給黑莓執行主席兼首席執行官 John Chen 的閉幕詞。

Okay.

好的。

All right.

好的。

Okay.

好的。

Thank you, everybody, for joining us today.

謝謝大家今天加入我們。

I hope to see you at CES.

我希望在 CES 上見到你。

And let me do a little bit commercial.

讓我做一點商業。

At -- with CES, we have a booth at the North Hall.

在 CES 上，我們在北廳設有展位。

In the past, we put in there sports cars and this time, we have other demonstrated automobile.

過去，我們把跑車放在那裡，這次，我們有其他展示的汽車。

And rumor has it that we have a motorcycle there, too.

有傳言說我們那裡也有一輛摩托車。

And we're going to show -- what we're going to show you at CES is, obviously, the continuation of advancement of our QNX technology in auto, but also to show you the Cylance integration into the car.

我們將展示 - 我們將在 CES 上向您展示的顯然是我們 QNX 技術在汽車領域的持續進步，同時也向您展示了 Cylance 與汽車的集成。

I think that would attract a lot of attention.

我認為這會引起很多關注。

And I know there are some government agency people who already wanted to come see and have appointment with me.

我知道有些政府機構的人已經想來看我並與我預約。

So I hope to see you there.

所以我希望在那裡見到你。

And in the meantime, have a very happy and safe holidays.

同時，祝您假期愉快安全。

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。