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Side-by-side financial comparison of BLACKBERRY Ltd (BB) and 4D Molecular Therapeutics, Inc. (FDMT). Click either name above to swap in a different company.
BLACKBERRY Ltd is the larger business by last-quarter revenue ($141.8M vs $85.1M, roughly 1.7× 4D Molecular Therapeutics, Inc.). 4D Molecular Therapeutics, Inc. runs the higher net margin — 22.8% vs 9.7%, a 13.1% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs -0.8%). 4D Molecular Therapeutics, Inc. produced more free cash flow last quarter ($28.5M vs $17.4M). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% CAGR vs 17.8%).
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.
4D Molecular Therapeutics is a clinical-stage biotechnology company specializing in the research and development of targeted adeno-associated virus (AAV) gene therapies. Its core product candidates address unmet medical needs in ophthalmology, cardiology, and pulmonary disease segments, serving global patient populations with rare and common hard-to-treat conditions.
BB vs FDMT — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $141.8M | $85.1M |
| Net Profit | $13.7M | $19.4M |
| Gross Margin | 77.5% | — |
| Operating Margin | 8.4% | 17.3% |
| Net Margin | 9.7% | 22.8% |
| Revenue YoY | -0.8% | 8508900.0% |
| Net Profit YoY | 224.5% | 139.1% |
| EPS (diluted) | $0.02 | $0.43 |
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 | $85.1M | ||
| Q3 25 | $129.6M | $90.0K | ||
| Q2 25 | $121.7M | $15.0K | ||
| Q1 25 | $141.7M | $14.0K | ||
| Q4 24 | $143.6M | $1.0K | ||
| Q3 24 | $126.2M | $3.0K | ||
| Q2 24 | $123.4M | $5.0K | ||
| Q1 24 | $102.1M | $28.0K |
| Q4 25 | $13.7M | $19.4M | ||
| Q3 25 | $13.3M | $-56.9M | ||
| Q2 25 | $1.9M | $-54.7M | ||
| Q1 25 | $-7.4M | $-48.0M | ||
| Q4 24 | $-10.5M | — | ||
| Q3 24 | $-19.7M | $-43.8M | ||
| Q2 24 | $-41.4M | $-35.0M | ||
| Q1 24 | $-56.2M | $-32.4M |
| 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% | 17.3% | ||
| Q3 25 | 8.9% | -67983.3% | ||
| Q2 25 | 1.6% | -396373.3% | ||
| Q1 25 | -5.6% | -383007.1% | ||
| Q4 24 | 13.6% | — | ||
| Q3 24 | 1.7% | -1704400.0% | ||
| Q2 24 | -10.5% | -849120.0% | ||
| Q1 24 | 50.0% | -136200.0% |
| Q4 25 | 9.7% | 22.8% | ||
| Q3 25 | 10.3% | -63195.6% | ||
| Q2 25 | 1.6% | -364386.7% | ||
| Q1 25 | -5.2% | -342657.1% | ||
| Q4 24 | -7.3% | — | ||
| Q3 24 | -15.6% | -1461433.3% | ||
| Q2 24 | -33.5% | -699060.0% | ||
| Q1 24 | -55.0% | -115717.9% |
| Q4 25 | $0.02 | $0.43 | ||
| Q3 25 | $0.02 | $-1.01 | ||
| Q2 25 | $0.00 | $-0.98 | ||
| Q1 25 | $-0.01 | $-0.86 | ||
| Q4 24 | $-0.02 | — | ||
| Q3 24 | $-0.03 | $-0.79 | ||
| Q2 24 | $-0.07 | $-0.63 | ||
| Q1 24 | $-0.08 | $-0.66 |
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 | $402.7M |
| Total DebtLower is stronger | $196.2M | — |
| Stockholders' EquityBook value | $741.1M | $505.7M |
| Total Assets | $1.2B | $566.7M |
| Debt / EquityLower = less leverage | 0.26× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $304.2M | $402.7M | ||
| Q3 25 | $290.5M | $305.1M | ||
| Q2 25 | $306.6M | $293.2M | ||
| Q1 25 | $337.8M | $321.4M | ||
| Q4 24 | $220.0M | $424.9M | ||
| Q3 24 | $211.0M | $501.9M | ||
| Q2 24 | $229.0M | $541.9M | ||
| Q1 24 | $237.1M | $525.9M |
| 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 | $505.7M | ||
| Q3 25 | $725.1M | $369.0M | ||
| Q2 25 | $725.1M | $420.9M | ||
| Q1 25 | $719.9M | $469.7M | ||
| Q4 24 | $725.2M | $510.6M | ||
| Q3 24 | $732.1M | $552.9M | ||
| Q2 24 | $742.6M | $588.3M | ||
| Q1 24 | $775.1M | $600.6M |
| Q4 25 | $1.2B | $566.7M | ||
| Q3 25 | $1.2B | $424.0M | ||
| Q2 25 | $1.2B | $473.6M | ||
| Q1 25 | $1.3B | $515.7M | ||
| Q4 24 | $1.3B | $560.4M | ||
| Q3 24 | $1.3B | $604.0M | ||
| Q2 24 | $1.3B | $620.1M | ||
| Q1 24 | $1.4B | $629.9M |
| 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 | $28.6M |
| Free Cash FlowOCF − Capex | $17.4M | $28.5M |
| FCF MarginFCF / Revenue | 12.3% | 33.5% |
| Capex IntensityCapex / Revenue | 0.6% | 0.1% |
| Cash ConversionOCF / Net Profit | 1.34× | 1.47× |
| TTM Free Cash FlowTrailing 4 quarters | $42.8M | $-109.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.3M | $28.6M | ||
| Q3 25 | $3.9M | $-46.5M | ||
| Q2 25 | $-18.0M | $-43.4M | ||
| Q1 25 | $41.6M | $-47.8M | ||
| Q4 24 | $6.0M | $-134.6M | ||
| Q3 24 | $-16.0M | $-29.4M | ||
| Q2 24 | $-15.1M | $-30.2M | ||
| Q1 24 | $-15.5M | $-29.1M |
| Q4 25 | $17.4M | $28.5M | ||
| Q3 25 | $3.1M | $-46.6M | ||
| Q2 25 | $-18.9M | $-43.4M | ||
| Q1 25 | $41.2M | $-48.4M | ||
| Q4 24 | $5.2M | $-138.4M | ||
| Q3 24 | $-16.5M | $-31.2M | ||
| Q2 24 | $-16.5M | $-30.6M | ||
| Q1 24 | $-17.6M | $-29.8M |
| Q4 25 | 12.3% | 33.5% | ||
| Q3 25 | 2.4% | -51765.6% | ||
| Q2 25 | -15.5% | -289620.0% | ||
| Q1 25 | 29.1% | -345635.7% | ||
| Q4 24 | 3.6% | -13837100.0% | ||
| Q3 24 | -13.1% | -1038966.7% | ||
| Q2 24 | -13.4% | -611840.0% | ||
| Q1 24 | -17.2% | -106421.4% |
| Q4 25 | 0.6% | 0.1% | ||
| Q3 25 | 0.6% | 101.1% | ||
| Q2 25 | 0.7% | 440.0% | ||
| Q1 25 | 0.3% | 4507.1% | ||
| Q4 24 | 0.6% | 378600.0% | ||
| Q3 24 | 0.4% | 59266.7% | ||
| Q2 24 | 1.1% | 6980.0% | ||
| Q1 24 | 2.1% | 2535.7% |
| Q4 25 | 1.34× | 1.47× | ||
| Q3 25 | 0.29× | — | ||
| Q2 25 | -9.47× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
FDMT
Segment breakdown not available.
