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Side-by-side financial comparison of BLACKBERRY Ltd (BB) and Gogo Inc. (GOGO). Click either name above to swap in a different company.
Gogo Inc. is the larger business by last-quarter revenue ($230.6M vs $141.8M, roughly 1.6× BLACKBERRY Ltd). BLACKBERRY Ltd runs the higher net margin — 9.7% vs -4.3%, a 14.0% gap on every dollar of revenue. On growth, Gogo Inc. posted the faster year-over-year revenue change (67.3% vs -0.8%). BLACKBERRY Ltd produced more free cash flow last quarter ($17.4M vs $-25.4M). Over the past eight quarters, Gogo Inc.'s revenue compounded faster (48.7% 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.
Gogo Inc. is an American provider of in-flight broadband Internet service and other connectivity services for business aircraft, headquartered in Broomfield, Colorado. Through its Gogo LLC subsidiary, Gogo previously provided in-flight WiFi to 17 airlines until the Commercial Air business was sold to Intelsat for $400 million in December 2020. According to Gogo, over 2,500 commercial aircraft and 6,600 business aircraft have been equipped with its onboard Wi-Fi services. The company is the de...
BB vs GOGO — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $141.8M | $230.6M |
| Net Profit | $13.7M | $-10.0M |
| Gross Margin | 77.5% | — |
| Operating Margin | 8.4% | 6.2% |
| Net Margin | 9.7% | -4.3% |
| Revenue YoY | -0.8% | 67.3% |
| Net Profit YoY | 224.5% | 64.6% |
| EPS (diluted) | $0.02 | $-0.08 |
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 | $230.6M | ||
| Q3 25 | $129.6M | $223.6M | ||
| Q2 25 | $121.7M | $226.0M | ||
| Q1 25 | $141.7M | $230.3M | ||
| Q4 24 | $143.6M | $137.8M | ||
| Q3 24 | $126.2M | $100.5M | ||
| Q2 24 | $123.4M | $102.1M | ||
| Q1 24 | $102.1M | $104.3M |
| Q4 25 | $13.7M | $-10.0M | ||
| Q3 25 | $13.3M | $-1.9M | ||
| Q2 25 | $1.9M | $12.8M | ||
| Q1 25 | $-7.4M | $12.0M | ||
| Q4 24 | $-10.5M | $-28.2M | ||
| Q3 24 | $-19.7M | $10.6M | ||
| Q2 24 | $-41.4M | $839.0K | ||
| Q1 24 | $-56.2M | $30.5M |
| Q4 25 | 77.5% | — | ||
| Q3 25 | 74.5% | — | ||
| Q2 25 | 74.2% | 87.8% | ||
| Q1 25 | 73.5% | 87.3% | ||
| Q4 24 | 78.1% | — | ||
| Q3 24 | 70.2% | — | ||
| Q2 24 | 72.9% | — | ||
| Q1 24 | — | — |
| Q4 25 | 8.4% | 6.2% | ||
| Q3 25 | 8.9% | 12.9% | ||
| Q2 25 | 1.6% | 15.9% | ||
| Q1 25 | -5.6% | 15.3% | ||
| Q4 24 | 13.6% | -17.5% | ||
| Q3 24 | 1.7% | 19.0% | ||
| Q2 24 | -10.5% | 21.2% | ||
| Q1 24 | 50.0% | 33.2% |
| Q4 25 | 9.7% | -4.3% | ||
| Q3 25 | 10.3% | -0.9% | ||
| Q2 25 | 1.6% | 5.7% | ||
| Q1 25 | -5.2% | 5.2% | ||
| Q4 24 | -7.3% | -20.5% | ||
| Q3 24 | -15.6% | 10.6% | ||
| Q2 24 | -33.5% | 0.8% | ||
| Q1 24 | -55.0% | 29.2% |
| Q4 25 | $0.02 | $-0.08 | ||
| Q3 25 | $0.02 | $-0.01 | ||
| Q2 25 | $0.00 | $0.09 | ||
| Q1 25 | $-0.01 | $0.09 | ||
| Q4 24 | $-0.02 | $-0.22 | ||
| Q3 24 | $-0.03 | $0.08 | ||
| Q2 24 | $-0.07 | $0.01 | ||
| Q1 24 | $-0.08 | $0.23 |
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 | $125.2M |
| Total DebtLower is stronger | $196.2M | — |
| Stockholders' EquityBook value | $741.1M | $101.1M |
| Total Assets | $1.2B | $1.3B |
| Debt / EquityLower = less leverage | 0.26× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $304.2M | $125.2M | ||
| Q3 25 | $290.5M | $133.6M | ||
| Q2 25 | $306.6M | $102.1M | ||
| Q1 25 | $337.8M | $70.3M | ||
| Q4 24 | $220.0M | $41.8M | ||
| Q3 24 | $211.0M | $176.7M | ||
| Q2 24 | $229.0M | $161.6M | ||
| Q1 24 | $237.1M | $152.8M |
| 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 | $101.1M | ||
| Q3 25 | $725.1M | $107.0M | ||
| Q2 25 | $725.1M | $102.8M | ||
| Q1 25 | $719.9M | $82.9M | ||
| Q4 24 | $725.2M | $69.3M | ||
| Q3 24 | $732.1M | $52.7M | ||
| Q2 24 | $742.6M | $52.0M | ||
| Q1 24 | $775.1M | $62.4M |
| Q4 25 | $1.2B | $1.3B | ||
| Q3 25 | $1.2B | $1.3B | ||
| Q2 25 | $1.2B | $1.3B | ||
| Q1 25 | $1.3B | $1.2B | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.3B | $810.7M | ||
| Q2 24 | $1.3B | $802.7M | ||
| Q1 24 | $1.4B | $809.0M |
| 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 | $8.5M |
| Free Cash FlowOCF − Capex | $17.4M | $-25.4M |
| FCF MarginFCF / Revenue | 12.3% | -11.0% |
| Capex IntensityCapex / Revenue | 0.6% | 14.7% |
| Cash ConversionOCF / Net Profit | 1.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | $42.8M | $65.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.3M | $8.5M | ||
| Q3 25 | $3.9M | $46.8M | ||
| Q2 25 | $-18.0M | $36.7M | ||
| Q1 25 | $41.6M | $32.5M | ||
| Q4 24 | $6.0M | $-38.3M | ||
| Q3 24 | $-16.0M | $25.1M | ||
| Q2 24 | $-15.1M | $24.9M | ||
| Q1 24 | $-15.5M | $29.7M |
| Q4 25 | $17.4M | $-25.4M | ||
| Q3 25 | $3.1M | $27.3M | ||
| Q2 25 | $-18.9M | $33.5M | ||
| Q1 25 | $41.2M | $29.7M | ||
| Q4 24 | $5.2M | $-42.6M | ||
| Q3 24 | $-16.5M | $20.7M | ||
| Q2 24 | $-16.5M | $21.6M | ||
| Q1 24 | $-17.6M | $28.2M |
| Q4 25 | 12.3% | -11.0% | ||
| Q3 25 | 2.4% | 12.2% | ||
| Q2 25 | -15.5% | 14.8% | ||
| Q1 25 | 29.1% | 12.9% | ||
| Q4 24 | 3.6% | -30.9% | ||
| Q3 24 | -13.1% | 20.6% | ||
| Q2 24 | -13.4% | 21.1% | ||
| Q1 24 | -17.2% | 27.0% |
| Q4 25 | 0.6% | 14.7% | ||
| Q3 25 | 0.6% | 8.7% | ||
| Q2 25 | 0.7% | 1.4% | ||
| Q1 25 | 0.3% | 1.2% | ||
| Q4 24 | 0.6% | 3.1% | ||
| Q3 24 | 0.4% | 4.4% | ||
| Q2 24 | 1.1% | 3.3% | ||
| Q1 24 | 2.1% | 1.4% |
| Q4 25 | 1.34× | — | ||
| Q3 25 | 0.29× | — | ||
| Q2 25 | -9.47× | 2.87× | ||
| Q1 25 | — | 2.70× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.36× | ||
| Q2 24 | — | 29.74× | ||
| Q1 24 | — | 0.97× |
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% |
GOGO
| Services | $191.9M | 83% |
| Products | $38.7M | 17% |
| Fcc Reimbursement Program | $2.0M | 1% |
