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Side-by-side financial comparison of BLACKBERRY Ltd (BB) and PATHWARD FINANCIAL, INC. (CASH). Click either name above to swap in a different company.
PATHWARD FINANCIAL, INC. is the larger business by last-quarter revenue ($173.1M vs $141.8M, roughly 1.2× BLACKBERRY Ltd). PATHWARD FINANCIAL, INC. runs the higher net margin — 20.3% vs 9.7%, a 10.7% gap on every dollar of revenue. On growth, PATHWARD FINANCIAL, INC. posted the faster year-over-year revenue change (-0.2% vs -0.8%). PATHWARD FINANCIAL, INC. produced more free cash flow last quarter ($104.1M vs $17.4M). Over the past eight quarters, BLACKBERRY Ltd's revenue compounded faster (17.8% CAGR vs -18.0%).
BlackBerry Limited, formerly Research In Motion (RIM), is a Canadian software company specializing in secure communications and the Internet of Things (IoT). Founded in 1984, it developed the BlackBerry brand of two-way pagers, smartphones, and tablets. The company later transitioned to providing software and services and holds critical software application patents.
Pathward Financial, Inc. is a U.S.-based banking and financial services company. It adopted its current name in 2022 after its parent, Meta Financial Group, sold the "Meta" trademark to Meta Platforms.
BB vs CASH — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $141.8M | $173.1M |
| Net Profit | $13.7M | $35.2M |
| Gross Margin | 77.5% | — |
| Operating Margin | 8.4% | 24.6% |
| Net Margin | 9.7% | 20.3% |
| Revenue YoY | -0.8% | -0.2% |
| Net Profit YoY | 224.5% | 11.9% |
| EPS (diluted) | $0.02 | $1.57 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $141.8M | $173.1M | ||
| Q3 25 | $129.6M | $186.7M | ||
| Q2 25 | $121.7M | $195.8M | ||
| Q1 25 | $141.7M | $274.8M | ||
| Q4 24 | $143.6M | $182.6M | ||
| Q3 24 | $126.2M | $179.5M | ||
| Q2 24 | $123.4M | $188.6M | ||
| Q1 24 | $102.1M | $257.6M |
| Q4 25 | $13.7M | $35.2M | ||
| Q3 25 | $13.3M | $38.8M | ||
| Q2 25 | $1.9M | $42.1M | ||
| Q1 25 | $-7.4M | $75.0M | ||
| Q4 24 | $-10.5M | $30.0M | ||
| Q3 24 | $-19.7M | $33.5M | ||
| Q2 24 | $-41.4M | $44.9M | ||
| Q1 24 | $-56.2M | $69.9M |
| Q4 25 | 77.5% | — | ||
| Q3 25 | 74.5% | — | ||
| Q2 25 | 74.2% | — | ||
| Q1 25 | 73.5% | — | ||
| Q4 24 | 78.1% | — | ||
| Q3 24 | 70.2% | — | ||
| Q2 24 | 72.9% | — | ||
| Q1 24 | — | — |
| Q4 25 | 8.4% | 24.6% | ||
| Q3 25 | 8.9% | 25.9% | ||
| Q2 25 | 1.6% | 24.1% | ||
| Q1 25 | -5.6% | 33.2% | ||
| Q4 24 | 13.6% | 19.8% | ||
| Q3 24 | 1.7% | 20.9% | ||
| Q2 24 | -10.5% | 27.1% | ||
| Q1 24 | 50.0% | 33.8% |
| Q4 25 | 9.7% | 20.3% | ||
| Q3 25 | 10.3% | 20.8% | ||
| Q2 25 | 1.6% | 21.5% | ||
| Q1 25 | -5.2% | 27.3% | ||
| Q4 24 | -7.3% | 16.4% | ||
| Q3 24 | -15.6% | 18.7% | ||
| Q2 24 | -33.5% | 23.8% | ||
| Q1 24 | -55.0% | 27.1% |
| Q4 25 | $0.02 | $1.57 | ||
| Q3 25 | $0.02 | $1.69 | ||
| Q2 25 | $0.00 | $1.81 | ||
| Q1 25 | $-0.01 | $3.14 | ||
| Q4 24 | $-0.02 | $1.23 | ||
| Q3 24 | $-0.03 | $1.34 | ||
| Q2 24 | $-0.07 | $1.78 | ||
| Q1 24 | $-0.08 | $2.74 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $304.2M | $331.2M |
| Total DebtLower is stronger | $196.2M | $33.5M |
| Stockholders' EquityBook value | $741.1M | $854.5M |
| Total Assets | $1.2B | $7.6B |
| Debt / EquityLower = less leverage | 0.26× | 0.04× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $304.2M | $331.2M | ||
| Q3 25 | $290.5M | $120.6M | ||
| Q2 25 | $306.6M | $258.3M | ||
| Q1 25 | $337.8M | $254.2M | ||
| Q4 24 | $220.0M | $597.4M | ||
| Q3 24 | $211.0M | $158.3M | ||
| Q2 24 | $229.0M | $298.9M | ||
| Q1 24 | $237.1M | $347.9M |
| Q4 25 | $196.2M | $33.5M | ||
| Q3 25 | $195.9M | $33.5M | ||
| Q2 25 | $195.6M | $33.4M | ||
| Q1 25 | $195.3M | $33.4M | ||
| Q4 24 | — | $33.4M | ||
| Q3 24 | — | $33.4M | ||
| Q2 24 | — | $33.3M | ||
| Q1 24 | $194.1M | $33.4M |
| Q4 25 | $741.1M | $854.5M | ||
| Q3 25 | $725.1M | $858.0M | ||
| Q2 25 | $725.1M | $819.0M | ||
| Q1 25 | $719.9M | $814.7M | ||
| Q4 24 | $725.2M | $758.3M | ||
| Q3 24 | $732.1M | $822.5M | ||
| Q2 24 | $742.6M | $748.4M | ||
| Q1 24 | $775.1M | $719.5M |
| Q4 25 | $1.2B | $7.6B | ||
| Q3 25 | $1.2B | $7.2B | ||
| Q2 25 | $1.2B | $7.2B | ||
| Q1 25 | $1.3B | $7.0B | ||
| Q4 24 | $1.3B | $7.6B | ||
| Q3 24 | $1.3B | $7.5B | ||
| Q2 24 | $1.3B | $7.5B | ||
| Q1 24 | $1.4B | $7.4B |
| Q4 25 | 0.26× | 0.04× | ||
| Q3 25 | 0.27× | 0.04× | ||
| Q2 25 | 0.27× | 0.04× | ||
| Q1 25 | 0.27× | 0.04× | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | — | 0.04× | ||
| Q2 24 | — | 0.04× | ||
| Q1 24 | 0.25× | 0.05× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $18.3M | $108.3M |
| Free Cash FlowOCF − Capex | $17.4M | $104.1M |
| FCF MarginFCF / Revenue | 12.3% | 60.1% |
| Capex IntensityCapex / Revenue | 0.6% | 2.4% |
| Cash ConversionOCF / Net Profit | 1.34× | 3.08× |
| TTM Free Cash FlowTrailing 4 quarters | $42.8M | $616.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.3M | $108.3M | ||
| Q3 25 | $3.9M | $303.7M | ||
| Q2 25 | $-18.0M | $30.4M | ||
| Q1 25 | $41.6M | $188.3M | ||
| Q4 24 | $6.0M | $-71.7M | ||
| Q3 24 | $-16.0M | $143.1M | ||
| Q2 24 | $-15.1M | $113.2M | ||
| Q1 24 | $-15.5M | $203.0M |
| Q4 25 | $17.4M | $104.1M | ||
| Q3 25 | $3.1M | $300.3M | ||
| Q2 25 | $-18.9M | $27.7M | ||
| Q1 25 | $41.2M | $184.7M | ||
| Q4 24 | $5.2M | $-73.8M | ||
| Q3 24 | $-16.5M | $138.8M | ||
| Q2 24 | $-16.5M | $111.0M | ||
| Q1 24 | $-17.6M | $201.3M |
| Q4 25 | 12.3% | 60.1% | ||
| Q3 25 | 2.4% | 160.9% | ||
| Q2 25 | -15.5% | 14.1% | ||
| Q1 25 | 29.1% | 67.2% | ||
| Q4 24 | 3.6% | -40.4% | ||
| Q3 24 | -13.1% | 77.3% | ||
| Q2 24 | -13.4% | 58.8% | ||
| Q1 24 | -17.2% | 78.1% |
| Q4 25 | 0.6% | 2.4% | ||
| Q3 25 | 0.6% | 1.8% | ||
| Q2 25 | 0.7% | 1.4% | ||
| Q1 25 | 0.3% | 1.3% | ||
| Q4 24 | 0.6% | 1.1% | ||
| Q3 24 | 0.4% | 2.4% | ||
| Q2 24 | 1.1% | 1.2% | ||
| Q1 24 | 2.1% | 0.7% |
| Q4 25 | 1.34× | 3.08× | ||
| Q3 25 | 0.29× | 7.83× | ||
| Q2 25 | -9.47× | 0.72× | ||
| Q1 25 | — | 2.51× | ||
| Q4 24 | — | -2.39× | ||
| Q3 24 | — | 4.27× | ||
| Q2 24 | — | 2.52× | ||
| Q1 24 | — | 2.90× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BB
| QNX | $68.7M | 48% |
| Secure Communication | $67.0M | 47% |
| Licensing | $6.1M | 4% |
CASH
| Consumer | $103.0M | 59% |
| Payment Card And Deposit Fees | $30.1M | 17% |
| Other | $24.2M | 14% |
| Rental Income | $11.6M | 7% |
| Commercial | $4.2M | 2% |
