05:36 PM EDT, 06/26/2024 (MT Newswires) -- BlackBerry (BB.TO, BB) was last seen up 6.8% in after-hours New York trading after the company on Wednesday reported in line earnings for it fiscal first quarter of fiscal year 2025, even as revenue beat forecasts.

The company also provided its most detailed outlook numbers in its earnings release for quite a while, having in recent years stated that it would only talk about its expectations on related earnings calls.

According to Blackberry, its first quarter non-GAAP basic loss per share beat the previously-provided guidance at US$0.03, in line with Capital IQ's forecast. Meanwhile the GAAP basic loss per share was $0.07, which was also in line with the Capital IQ forecast.

Meanwhile, total company revenue was $144 million, beating a forecast 134.05 million at Capital IQ. Total company non-GAAP and GAAP gross margin was 67%.

Among other highlights, Adjusted EBITDA was negative $7 million. Total cash, cash equivalents, short-term and long-term investments was $283 million; Operating cash usage was sequentially flat at $15 million, while free cash usage decreased sequentially for the third consecutive quarter to $16 million.

"BlackBerry's strategy is delivering results. The Company is making significant progress towards operational independence for our IoT and Cybersecurity businesses, as well as towards profitability. We exceeded our outlook range for both adjusted EBITDA and non-GAAP EPS this quarter and achieved a third consecutive sequential improvement in free cash usage. BlackBerry remains on track to be both profitable on a non-GAAP basis and generating positive cashflow in the fourth quarter," said John Giamatteo, CEO, BlackBerry. "Both our IoT and Cybersecurity businesses beat revenue expectations. QNX recorded solid royalty revenue while our Cybersecurity division delivered a second consecutive quarter of ARR growth, as well as further enhancing dollar-based net retention."

BlackBerry provided guidance for the second quarter ending August 31 and the full fiscal year 2025 ending February 28, 2025. Among outlook highlights, it flagged total BlackBerry revenue for Q2 FY25 of US$136-$144 million and FY25 of $586-$616 million. It also flagged non-GAAP Basic EPS for Q2 FY25 of minus US$0.02 to minus $0.04 and for FY25 of minus $0.03 to minus $0.07.

The company's shares were last seen up US$0.15 to US$2.36 after hours. They closed down $0.02 to $3.04 on the Toronto Stock Exchange.