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Side-by-side financial comparison of BLACKBERRY Ltd (BB) and iQSTEL Inc (IQST). Click either name above to swap in a different company.
BLACKBERRY Ltd is the larger business by last-quarter revenue ($141.8M vs $84.2M, roughly 1.7× iQSTEL Inc). BLACKBERRY Ltd runs the higher net margin — 9.7% vs -3.2%, a 12.9% gap on every dollar of revenue. On growth, BLACKBERRY Ltd posted the faster year-over-year revenue change (-0.8% vs -14.9%). BLACKBERRY Ltd produced more free cash flow last quarter ($17.4M vs $-1.2M). Over the past eight quarters, iQSTEL Inc's revenue compounded faster (28.0% 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.
iQSTEL Inc is a technology holding company operating three core segments: telecommunications, Internet of Things (IoT), and fintech. It offers connectivity services, smart IoT monitoring solutions, and digital financial tools, mainly serving small and medium-sized enterprises and retail customers in North and South American markets.
BB vs IQST — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $141.8M | $84.2M |
| Net Profit | $13.7M | $-2.7M |
| Gross Margin | 77.5% | 3.5% |
| Operating Margin | 8.4% | -2.9% |
| Net Margin | 9.7% | -3.2% |
| Revenue YoY | -0.8% | -14.9% |
| Net Profit YoY | 224.5% | -44.5% |
| EPS (diluted) | $0.02 | $-0.92 |
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 | $84.2M | ||
| Q3 25 | $129.6M | $102.9M | ||
| Q2 25 | $121.7M | $72.2M | ||
| Q1 25 | $141.7M | $57.6M | ||
| Q4 24 | $143.6M | $98.9M | ||
| Q3 24 | $126.2M | $54.2M | ||
| Q2 24 | $123.4M | $78.6M | ||
| Q1 24 | $102.1M | $51.4M |
| Q4 25 | $13.7M | $-2.7M | ||
| Q3 25 | $13.3M | $-2.3M | ||
| Q2 25 | $1.9M | $-2.3M | ||
| Q1 25 | $-7.4M | $-1.1M | ||
| Q4 24 | $-10.5M | $-1.9M | ||
| Q3 24 | $-19.7M | $-773.0K | ||
| Q2 24 | $-41.4M | $-2.0M | ||
| Q1 24 | $-56.2M | $-580.2K |
| Q4 25 | 77.5% | 3.5% | ||
| Q3 25 | 74.5% | 2.7% | ||
| Q2 25 | 74.2% | 2.6% | ||
| Q1 25 | 73.5% | 3.4% | ||
| Q4 24 | 78.1% | 2.7% | ||
| Q3 24 | 70.2% | 3.7% | ||
| Q2 24 | 72.9% | 2.8% | ||
| Q1 24 | — | 2.7% |
| Q4 25 | 8.4% | -2.9% | ||
| Q3 25 | 8.9% | -0.5% | ||
| Q2 25 | 1.6% | -0.9% | ||
| Q1 25 | -5.6% | -1.0% | ||
| Q4 24 | 13.6% | -0.3% | ||
| Q3 24 | 1.7% | -0.1% | ||
| Q2 24 | -10.5% | -0.4% | ||
| Q1 24 | 50.0% | -0.4% |
| Q4 25 | 9.7% | -3.2% | ||
| Q3 25 | 10.3% | -2.3% | ||
| Q2 25 | 1.6% | -3.3% | ||
| Q1 25 | -5.2% | -2.0% | ||
| Q4 24 | -7.3% | -1.9% | ||
| Q3 24 | -15.6% | -1.4% | ||
| Q2 24 | -33.5% | -2.5% | ||
| Q1 24 | -55.0% | -1.1% |
| Q4 25 | $0.02 | $-0.92 | ||
| Q3 25 | $0.02 | $-0.68 | ||
| Q2 25 | $0.00 | $-0.82 | ||
| Q1 25 | $-0.01 | $-0.44 | ||
| Q4 24 | $-0.02 | $-1.19 | ||
| Q3 24 | $-0.03 | $-0.40 | ||
| Q2 24 | $-0.07 | $-0.90 | ||
| Q1 24 | $-0.08 | $-0.37 |
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 | $2.2M |
| Total DebtLower is stronger | $196.2M | $4.1M |
| Stockholders' EquityBook value | $741.1M | $16.3M |
| Total Assets | $1.2B | $51.1M |
| Debt / EquityLower = less leverage | 0.26× | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $304.2M | $2.2M | ||
| Q3 25 | $290.5M | $2.3M | ||
| Q2 25 | $306.6M | $2.0M | ||
| Q1 25 | $337.8M | $1.1M | ||
| Q4 24 | $220.0M | $2.5M | ||
| Q3 24 | $211.0M | $2.1M | ||
| Q2 24 | $229.0M | $797.2K | ||
| Q1 24 | $237.1M | $2.7M |
| Q4 25 | $196.2M | $4.1M | ||
| Q3 25 | $195.9M | $2.7M | ||
| Q2 25 | $195.6M | $4.5M | ||
| Q1 25 | $195.3M | $3.5M | ||
| Q4 24 | — | $2.5M | ||
| Q3 24 | — | $3.2M | ||
| Q2 24 | — | $2.5M | ||
| Q1 24 | $194.1M | $194.0K |
| Q4 25 | $741.1M | $16.3M | ||
| Q3 25 | $725.1M | $17.9M | ||
| Q2 25 | $725.1M | $14.3M | ||
| Q1 25 | $719.9M | $11.6M | ||
| Q4 24 | $725.2M | $11.9M | ||
| Q3 24 | $732.1M | $8.1M | ||
| Q2 24 | $742.6M | $7.6M | ||
| Q1 24 | $775.1M | $8.4M |
| Q4 25 | $1.2B | $51.1M | ||
| Q3 25 | $1.2B | $46.9M | ||
| Q2 25 | $1.2B | $51.4M | ||
| Q1 25 | $1.3B | $42.0M | ||
| Q4 24 | $1.3B | $79.0M | ||
| Q3 24 | $1.3B | $32.4M | ||
| Q2 24 | $1.3B | $30.0M | ||
| Q1 24 | $1.4B | $22.1M |
| Q4 25 | 0.26× | 0.25× | ||
| Q3 25 | 0.27× | 0.15× | ||
| Q2 25 | 0.27× | 0.31× | ||
| Q1 25 | 0.27× | 0.31× | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | — | 0.40× | ||
| Q2 24 | — | 0.34× | ||
| Q1 24 | 0.25× | 0.02× |
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 | $-1.2M |
| Free Cash FlowOCF − Capex | $17.4M | $-1.2M |
| FCF MarginFCF / Revenue | 12.3% | -1.5% |
| Capex IntensityCapex / Revenue | 0.6% | 0.0% |
| Cash ConversionOCF / Net Profit | 1.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | $42.8M | $-4.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.3M | $-1.2M | ||
| Q3 25 | $3.9M | $-953.0K | ||
| Q2 25 | $-18.0M | $257.7K | ||
| Q1 25 | $41.6M | $-1.9M | ||
| Q4 24 | $6.0M | $-403.7K | ||
| Q3 24 | $-16.0M | $625.0K | ||
| Q2 24 | $-15.1M | $-2.6M | ||
| Q1 24 | $-15.5M | $-536.9K |
| Q4 25 | $17.4M | $-1.2M | ||
| Q3 25 | $3.1M | $-969.2K | ||
| Q2 25 | $-18.9M | $211.7K | ||
| Q1 25 | $41.2M | $-2.0M | ||
| Q4 24 | $5.2M | $-421.3K | ||
| Q3 24 | $-16.5M | $594.5K | ||
| Q2 24 | $-16.5M | $-2.6M | ||
| Q1 24 | $-17.6M | $-608.5K |
| Q4 25 | 12.3% | -1.5% | ||
| Q3 25 | 2.4% | -0.9% | ||
| Q2 25 | -15.5% | 0.3% | ||
| Q1 25 | 29.1% | -3.4% | ||
| Q4 24 | 3.6% | -0.4% | ||
| Q3 24 | -13.1% | 1.1% | ||
| Q2 24 | -13.4% | -3.4% | ||
| Q1 24 | -17.2% | -1.2% |
| Q4 25 | 0.6% | 0.0% | ||
| Q3 25 | 0.6% | 0.0% | ||
| Q2 25 | 0.7% | 0.1% | ||
| Q1 25 | 0.3% | 0.1% | ||
| Q4 24 | 0.6% | 0.0% | ||
| Q3 24 | 0.4% | 0.1% | ||
| Q2 24 | 1.1% | 0.0% | ||
| Q1 24 | 2.1% | 0.1% |
| Q4 25 | 1.34× | — | ||
| 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% |
IQST
| USA | $53.2M | 63% |
| Other | $29.9M | 35% |
| Switzerland | $1.1M | 1% |
