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Side-by-side financial comparison of BLACKBERRY Ltd (BB) and Core Scientific, Inc. (CORZ). Click either name above to swap in a different company.
BLACKBERRY Ltd is the larger business by last-quarter revenue ($141.8M vs $79.8M, roughly 1.8× Core Scientific, Inc.). Core Scientific, Inc. runs the higher net margin — 268.5% vs 9.7%, a 258.8% gap on every dollar of revenue. On growth, BLACKBERRY Ltd posted the faster year-over-year revenue change (-0.8% vs -16.0%). BLACKBERRY Ltd produced more free cash flow last quarter ($17.4M vs $-450.8M). Over the past eight quarters, BLACKBERRY Ltd's revenue compounded faster (17.8% CAGR vs -33.3%).
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.
Core Scientific is a leading digital asset and high-performance computing infrastructure provider. It operates large energy-efficient data centers across North America, offering cryptocurrency mining services, colocation hosting for blockchain and AI clients, and custom high-performance computing solutions for enterprise tech segments.
BB vs CORZ — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $141.8M | $79.8M |
| Net Profit | $13.7M | $214.2M |
| Gross Margin | 77.5% | 26.0% |
| Operating Margin | 8.4% | -149.5% |
| Net Margin | 9.7% | 268.5% |
| Revenue YoY | -0.8% | -16.0% |
| Net Profit YoY | 224.5% | 180.6% |
| EPS (diluted) | $0.02 | $-1.63 |
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 | $79.8M | ||
| Q3 25 | $129.6M | $81.1M | ||
| Q2 25 | $121.7M | $78.6M | ||
| Q1 25 | $141.7M | $79.5M | ||
| Q4 24 | $143.6M | $94.9M | ||
| Q3 24 | $126.2M | $95.4M | ||
| Q2 24 | $123.4M | $141.1M | ||
| Q1 24 | $102.1M | $179.3M |
| Q4 25 | $13.7M | $214.2M | ||
| Q3 25 | $13.3M | $-144.0M | ||
| Q2 25 | $1.9M | $-936.8M | ||
| Q1 25 | $-7.4M | $576.3M | ||
| Q4 24 | $-10.5M | $-265.5M | ||
| Q3 24 | $-19.7M | $-455.3M | ||
| Q2 24 | $-41.4M | $-902.2M | ||
| Q1 24 | $-56.2M | $210.7M |
| Q4 25 | 77.5% | 26.0% | ||
| Q3 25 | 74.5% | 4.8% | ||
| Q2 25 | 74.2% | 6.4% | ||
| Q1 25 | 73.5% | 10.3% | ||
| Q4 24 | 78.1% | 5.0% | ||
| Q3 24 | 70.2% | -0.2% | ||
| Q2 24 | 72.9% | 27.5% | ||
| Q1 24 | — | 43.3% |
| Q4 25 | 8.4% | -149.5% | ||
| Q3 25 | 8.9% | -67.6% | ||
| Q2 25 | 1.6% | -33.4% | ||
| Q1 25 | -5.6% | -59.1% | ||
| Q4 24 | 13.6% | -41.9% | ||
| Q3 24 | 1.7% | -43.2% | ||
| Q2 24 | -10.5% | -64.3% | ||
| Q1 24 | 50.0% | 30.8% |
| Q4 25 | 9.7% | 268.5% | ||
| Q3 25 | 10.3% | -177.6% | ||
| Q2 25 | 1.6% | -1191.4% | ||
| Q1 25 | -5.2% | 724.6% | ||
| Q4 24 | -7.3% | -279.7% | ||
| Q3 24 | -15.6% | -477.4% | ||
| Q2 24 | -33.5% | -639.4% | ||
| Q1 24 | -55.0% | 117.5% |
| Q4 25 | $0.02 | $-1.63 | ||
| Q3 25 | $0.02 | $-0.45 | ||
| Q2 25 | $0.00 | $-0.04 | ||
| Q1 25 | $-0.01 | $1.24 | ||
| Q4 24 | $-0.02 | $0.51 | ||
| Q3 24 | $-0.03 | $-1.17 | ||
| Q2 24 | $-0.07 | $-5.05 | ||
| Q1 24 | $-0.08 | $0.78 |
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 | $311.4M |
| Total DebtLower is stronger | $196.2M | — |
| Stockholders' EquityBook value | $741.1M | $-962.7M |
| Total Assets | $1.2B | $2.3B |
| Debt / EquityLower = less leverage | 0.26× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $304.2M | $311.4M | ||
| Q3 25 | $290.5M | $453.4M | ||
| Q2 25 | $306.6M | $581.3M | ||
| Q1 25 | $337.8M | $697.9M | ||
| Q4 24 | $220.0M | $836.2M | ||
| Q3 24 | $211.0M | $253.0M | ||
| Q2 24 | $229.0M | $96.1M | ||
| Q1 24 | $237.1M | $98.1M |
| Q4 25 | $196.2M | — | ||
| Q3 25 | $195.9M | — | ||
| Q2 25 | $195.6M | — | ||
| Q1 25 | $195.3M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $194.1M | — |
| Q4 25 | $741.1M | $-962.7M | ||
| Q3 25 | $725.1M | $-1.3B | ||
| Q2 25 | $725.1M | $-1.2B | ||
| Q1 25 | $719.9M | $-308.8M | ||
| Q4 24 | $725.2M | $-943.0M | ||
| Q3 24 | $732.1M | $-826.7M | ||
| Q2 24 | $742.6M | $-1.2B | ||
| Q1 24 | $775.1M | $-318.5M |
| Q4 25 | $1.2B | $2.3B | ||
| Q3 25 | $1.2B | $2.2B | ||
| Q2 25 | $1.2B | $1.9B | ||
| Q1 25 | $1.3B | $1.5B | ||
| Q4 24 | $1.3B | $1.5B | ||
| Q3 24 | $1.3B | $824.6M | ||
| Q2 24 | $1.3B | $664.2M | ||
| Q1 24 | $1.4B | $814.0M |
| Q4 25 | 0.26× | — | ||
| Q3 25 | 0.27× | — | ||
| Q2 25 | 0.27× | — | ||
| Q1 25 | 0.27× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.25× | — |
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 | $278.3M |
| Free Cash FlowOCF − Capex | $17.4M | $-450.8M |
| FCF MarginFCF / Revenue | 12.3% | -565.1% |
| Capex IntensityCapex / Revenue | 0.6% | 914.0% |
| Cash ConversionOCF / Net Profit | 1.34× | 1.30× |
| TTM Free Cash FlowTrailing 4 quarters | $42.8M | $-779.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.3M | $278.3M | ||
| Q3 25 | $3.9M | $131.8M | ||
| Q2 25 | $-18.0M | $34.0M | ||
| Q1 25 | $41.6M | $-45.0M | ||
| Q4 24 | $6.0M | $42.9M | ||
| Q3 24 | $-16.0M | $5.7M | ||
| Q2 24 | $-15.1M | $1.2M | ||
| Q1 24 | $-15.5M | $22.2M |
| Q4 25 | $17.4M | $-450.8M | ||
| Q3 25 | $3.1M | $-112.7M | ||
| Q2 25 | $-18.9M | $-87.3M | ||
| Q1 25 | $41.2M | $-129.0M | ||
| Q4 24 | $5.2M | $-52.1M | ||
| Q3 24 | $-16.5M | $-25.5M | ||
| Q2 24 | $-16.5M | $-1.9M | ||
| Q1 24 | $-17.6M | $-9.7M |
| Q4 25 | 12.3% | -565.1% | ||
| Q3 25 | 2.4% | -139.0% | ||
| Q2 25 | -15.5% | -111.0% | ||
| Q1 25 | 29.1% | -162.2% | ||
| Q4 24 | 3.6% | -54.8% | ||
| Q3 24 | -13.1% | -26.7% | ||
| Q2 24 | -13.4% | -1.4% | ||
| Q1 24 | -17.2% | -5.4% |
| Q4 25 | 0.6% | 914.0% | ||
| Q3 25 | 0.6% | 301.5% | ||
| Q2 25 | 0.7% | 154.2% | ||
| Q1 25 | 0.3% | 105.6% | ||
| Q4 24 | 0.6% | 100.0% | ||
| Q3 24 | 0.4% | 32.7% | ||
| Q2 24 | 1.1% | 2.2% | ||
| Q1 24 | 2.1% | 17.8% |
| Q4 25 | 1.34× | 1.30× | ||
| Q3 25 | 0.29× | — | ||
| Q2 25 | -9.47× | — | ||
| Q1 25 | — | -0.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.11× |
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% |
CORZ
| Other | $36.3M | 46% |
| Digital Asset Self Mining Service | $31.8M | 40% |
| Colocation Service | $11.6M | 15% |
