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Side-by-side financial comparison of BLACKBERRY Ltd (BB) and Globalstar, Inc. (GSAT). Click either name above to swap in a different company.
BLACKBERRY Ltd is the larger business by last-quarter revenue ($141.8M vs $72.0M, roughly 2.0× Globalstar, Inc.). BLACKBERRY Ltd runs the higher net margin — 9.7% vs -16.1%, a 25.8% gap on every dollar of revenue. On growth, Globalstar, Inc. posted the faster year-over-year revenue change (17.6% vs -0.8%). Over the past eight quarters, BLACKBERRY Ltd's revenue compounded faster (17.8% CAGR vs 12.9%).
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.
Globalstar, Inc. is an American telecommunications company that operates a satellite constellation in low Earth orbit (LEO) for satellite phone, low-speed data transmission and Earth observation. The Globalstar second-generation constellation consists of 25 satellites.
BB vs GSAT — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $141.8M | $72.0M |
| Net Profit | $13.7M | $-11.6M |
| Gross Margin | 77.5% | — |
| Operating Margin | 8.4% | -0.5% |
| Net Margin | 9.7% | -16.1% |
| Revenue YoY | -0.8% | 17.6% |
| Net Profit YoY | 224.5% | 76.9% |
| EPS (diluted) | $0.02 | $-0.11 |
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 | $72.0M | ||
| Q3 25 | $129.6M | $73.8M | ||
| Q2 25 | $121.7M | $67.1M | ||
| Q1 25 | $141.7M | $60.0M | ||
| Q4 24 | $143.6M | $61.2M | ||
| Q3 24 | $126.2M | $72.3M | ||
| Q2 24 | $123.4M | $60.4M | ||
| Q1 24 | $102.1M | $56.5M |
| Q4 25 | $13.7M | $-11.6M | ||
| Q3 25 | $13.3M | $1.1M | ||
| Q2 25 | $1.9M | $19.2M | ||
| Q1 25 | $-7.4M | $-17.3M | ||
| Q4 24 | $-10.5M | $-50.2M | ||
| Q3 24 | $-19.7M | $9.9M | ||
| Q2 24 | $-41.4M | $-9.7M | ||
| Q1 24 | $-56.2M | $-13.2M |
| 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% | -0.5% | ||
| Q3 25 | 8.9% | 13.8% | ||
| Q2 25 | 1.6% | 9.2% | ||
| Q1 25 | -5.6% | -14.2% | ||
| Q4 24 | 13.6% | -6.9% | ||
| Q3 24 | 1.7% | 13.0% | ||
| Q2 24 | -10.5% | -2.4% | ||
| Q1 24 | 50.0% | -8.3% |
| Q4 25 | 9.7% | -16.1% | ||
| Q3 25 | 10.3% | 1.5% | ||
| Q2 25 | 1.6% | 28.6% | ||
| Q1 25 | -5.2% | -28.9% | ||
| Q4 24 | -7.3% | -82.1% | ||
| Q3 24 | -15.6% | 13.7% | ||
| Q2 24 | -33.5% | -16.0% | ||
| Q1 24 | -55.0% | -23.4% |
| Q4 25 | $0.02 | $-0.11 | ||
| Q3 25 | $0.02 | $-0.01 | ||
| Q2 25 | $0.00 | $0.13 | ||
| Q1 25 | $-0.01 | $-0.16 | ||
| Q4 24 | $-0.02 | $-0.57 | ||
| Q3 24 | $-0.03 | $0.00 | ||
| Q2 24 | $-0.07 | $-0.01 | ||
| Q1 24 | $-0.08 | $-0.01 |
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 | $447.5M |
| Total DebtLower is stronger | $196.2M | $483.8M |
| Stockholders' EquityBook value | $741.1M | $355.7M |
| Total Assets | $1.2B | $2.3B |
| Debt / EquityLower = less leverage | 0.26× | 1.36× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $304.2M | $447.5M | ||
| Q3 25 | $290.5M | $346.3M | ||
| Q2 25 | $306.6M | $308.2M | ||
| Q1 25 | $337.8M | $241.4M | ||
| Q4 24 | $220.0M | $391.2M | ||
| Q3 24 | $211.0M | $51.9M | ||
| Q2 24 | $229.0M | $64.3M | ||
| Q1 24 | $237.1M | $59.3M |
| Q4 25 | $196.2M | $483.8M | ||
| Q3 25 | $195.9M | $508.6M | ||
| Q2 25 | $195.6M | $491.5M | ||
| Q1 25 | $195.3M | $502.7M | ||
| Q4 24 | — | $511.4M | ||
| Q3 24 | — | $394.4M | ||
| Q2 24 | — | $393.1M | ||
| Q1 24 | $194.1M | $398.7M |
| Q4 25 | $741.1M | $355.7M | ||
| Q3 25 | $725.1M | $364.8M | ||
| Q2 25 | $725.1M | $360.9M | ||
| Q1 25 | $719.9M | $344.3M | ||
| Q4 24 | $725.2M | $358.9M | ||
| Q3 24 | $732.1M | $394.1M | ||
| Q2 24 | $742.6M | $383.0M | ||
| Q1 24 | $775.1M | $377.1M |
| Q4 25 | $1.2B | $2.3B | ||
| Q3 25 | $1.2B | $2.2B | ||
| Q2 25 | $1.2B | $1.9B | ||
| Q1 25 | $1.3B | $1.7B | ||
| Q4 24 | $1.3B | $1.7B | ||
| Q3 24 | $1.3B | $917.6M | ||
| Q2 24 | $1.3B | $926.2M | ||
| Q1 24 | $1.4B | $917.0M |
| Q4 25 | 0.26× | 1.36× | ||
| Q3 25 | 0.27× | 1.39× | ||
| Q2 25 | 0.27× | 1.36× | ||
| Q1 25 | 0.27× | 1.46× | ||
| Q4 24 | — | 1.43× | ||
| Q3 24 | — | 1.00× | ||
| Q2 24 | — | 1.03× | ||
| Q1 24 | 0.25× | 1.06× |
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 | $175.9M |
| Free Cash FlowOCF − Capex | $17.4M | — |
| FCF MarginFCF / Revenue | 12.3% | — |
| Capex IntensityCapex / Revenue | 0.6% | — |
| Cash ConversionOCF / Net Profit | 1.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | $42.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.3M | $175.9M | ||
| Q3 25 | $3.9M | $236.0M | ||
| Q2 25 | $-18.0M | $157.9M | ||
| Q1 25 | $41.6M | $51.9M | ||
| Q4 24 | $6.0M | $340.7M | ||
| Q3 24 | $-16.0M | $32.0M | ||
| Q2 24 | $-15.1M | $36.7M | ||
| Q1 24 | $-15.5M | $29.8M |
| Q4 25 | $17.4M | — | ||
| Q3 25 | $3.1M | — | ||
| Q2 25 | $-18.9M | — | ||
| Q1 25 | $41.2M | — | ||
| Q4 24 | $5.2M | — | ||
| Q3 24 | $-16.5M | — | ||
| Q2 24 | $-16.5M | — | ||
| Q1 24 | $-17.6M | — |
| Q4 25 | 12.3% | — | ||
| Q3 25 | 2.4% | — | ||
| Q2 25 | -15.5% | — | ||
| Q1 25 | 29.1% | — | ||
| Q4 24 | 3.6% | — | ||
| Q3 24 | -13.1% | — | ||
| Q2 24 | -13.4% | — | ||
| Q1 24 | -17.2% | — |
| Q4 25 | 0.6% | — | ||
| Q3 25 | 0.6% | — | ||
| Q2 25 | 0.7% | — | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | 0.6% | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 1.1% | — | ||
| Q1 24 | 2.1% | — |
| Q4 25 | 1.34× | — | ||
| Q3 25 | 0.29× | 216.53× | ||
| Q2 25 | -9.47× | 8.22× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.23× | ||
| 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% |
GSAT
| Services | $67.4M | 94% |
| Products | $4.6M | 6% |
