These solutions include the Neutrino(R) real-time operating system and the BlackBerry QNX(R) CAR platform, the most advanced embedded software platform for the autonomous vehicle market, as well as other products designed to alleviate the challenges of compliance with ISO 26262, the automotive industry's functional safety standard. Its tepid results coupled with macro-economic uncertainty did not sit well with investors. The MarketWatch News Department was not involved in the creation of this content. It also wants to expand operating margin to between 20% and 25% compared to a paltry 1% in Q1. The 1.75% Debentures have terms that are substantially identical to those of the 3.75% Debentures except that the 1.75% Debentures are convertible into common shares at a price of $6.00 per common share, bear a lower rate of interest at 1.75% per annum, are subject to a higher approval threshold for extraordinary resolutions and mature in 2023. In Q1, BlackBerry reported a goodwill impairment charge of $594 million, related to the Cylance acquisition. I consent to receiving information from The Motley Fool via email, direct mail, and occasional special offer phone calls. BlackBerry’s QNX business, which caters to the automotive sector experienced a pullback in royalty sales. See "Strategy" subsection in Part I, Item 1 "Business" of the Annual Report. Not to alarm you, but you’re about to miss an important event. Returns since inception, October 2013. On the BlackBerry 10 smartphone, turn off Development mode by restarting the BlackBerry 10 smartphone or toggling OFF Development mode in the Settings of the device. Enter your email address below to get started now, and join the other thousands of Canadians who have already signed up for their chance to get the market-beating advice from Stock Advisor Canada. This is your chance to get in early on what could prove to be very special investment advice. Quarterly and annual interest expense on the 1.75% Debentures will be approximately $2 million and $6 million, respectively. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including statements relating to: the Company's plans, strategies and objectives, including its intentions to achieve long-term profitable revenue growth and increase and enhance its product and service offerings; the Company's expectations with respect to its revenue in fiscal 2021 and fiscal 2022; the Company's estimates of purchase obligations and other contractual commitments; and the Company's expectations with respect to the sufficiency of its financial resources. Based in Waterloo, Ontario, the Company leverages artificial intelligence and machine learning to deliver innovative solutions in the areas of cybersecurity, safety and data privacy, and is a leader in the areas of endpoint security management, encryption, and embedded systems. Aditya Raghunath | September 7, 2020 | More on: BB BB. All financial information in this MD&A is presented in U.S. dollars, unless otherwise indicated. All of these factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements. The company’s gross margins also declined to 69% and similar to peers, BlackBerry did not provide any guidance for the upcoming quarters. ITEM 2.