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Side-by-side financial comparison of BLACKBERRY Ltd (BB) and Metallus Inc. (MTUS). Click either name above to swap in a different company.
Metallus Inc. is the larger business by last-quarter revenue ($267.3M vs $141.8M, roughly 1.9× BLACKBERRY Ltd). BLACKBERRY Ltd runs the higher net margin — 9.7% vs 0.5%, a 9.2% gap on every dollar of revenue. On growth, Metallus Inc. posted the faster year-over-year revenue change (11.1% vs -0.8%). BLACKBERRY Ltd produced more free cash flow last quarter ($17.4M vs $900.0K). Over the past eight quarters, BLACKBERRY Ltd's revenue compounded faster (17.8% CAGR vs -4.8%).
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.
BB vs MTUS — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $141.8M | $267.3M |
| Net Profit | $13.7M | $1.3M |
| Gross Margin | 77.5% | 2.2% |
| Operating Margin | 8.4% | — |
| Net Margin | 9.7% | 0.5% |
| Revenue YoY | -0.8% | 11.1% |
| Net Profit YoY | 224.5% | — |
| EPS (diluted) | $0.02 | $0.03 |
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.
| Q1 26 | — | $267.3M | ||
| Q4 25 | $141.8M | $267.3M | ||
| Q3 25 | $129.6M | $305.9M | ||
| Q2 25 | $121.7M | $304.6M | ||
| Q1 25 | $141.7M | $280.5M | ||
| Q4 24 | $143.6M | $240.5M | ||
| Q3 24 | $126.2M | $227.2M | ||
| Q2 24 | $123.4M | $294.7M |
| Q1 26 | — | $1.3M | ||
| Q4 25 | $13.7M | $-14.3M | ||
| Q3 25 | $13.3M | $8.1M | ||
| Q2 25 | $1.9M | $3.7M | ||
| Q1 25 | $-7.4M | $1.3M | ||
| Q4 24 | $-10.5M | $-21.4M | ||
| Q3 24 | $-19.7M | $-5.9M | ||
| Q2 24 | $-41.4M | $4.6M |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 77.5% | 2.2% | ||
| Q3 25 | 74.5% | 11.4% | ||
| Q2 25 | 74.2% | 10.6% | ||
| Q1 25 | 73.5% | 7.8% | ||
| Q4 24 | 78.1% | 4.5% | ||
| Q3 24 | 70.2% | 5.3% | ||
| Q2 24 | 72.9% | 8.2% |
| Q1 26 | — | — | ||
| Q4 25 | 8.4% | -7.7% | ||
| Q3 25 | 8.9% | 3.6% | ||
| Q2 25 | 1.6% | 2.8% | ||
| Q1 25 | -5.6% | 1.0% | ||
| Q4 24 | 13.6% | -10.1% | ||
| Q3 24 | 1.7% | -3.1% | ||
| Q2 24 | -10.5% | 2.1% |
| Q1 26 | — | 0.5% | ||
| Q4 25 | 9.7% | -5.3% | ||
| Q3 25 | 10.3% | 2.6% | ||
| Q2 25 | 1.6% | 1.2% | ||
| Q1 25 | -5.2% | 0.5% | ||
| Q4 24 | -7.3% | -8.9% | ||
| Q3 24 | -15.6% | -2.6% | ||
| Q2 24 | -33.5% | 1.6% |
| Q1 26 | — | $0.03 | ||
| Q4 25 | $0.02 | $-0.34 | ||
| Q3 25 | $0.02 | $0.19 | ||
| Q2 25 | $0.00 | $0.09 | ||
| Q1 25 | $-0.01 | $0.03 | ||
| Q4 24 | $-0.02 | $-0.46 | ||
| Q3 24 | $-0.03 | $-0.13 | ||
| Q2 24 | $-0.07 | $0.10 |
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 | $156.7M |
| Total DebtLower is stronger | $196.2M | — |
| Stockholders' EquityBook value | $741.1M | $686.0M |
| Total Assets | $1.2B | $1.1B |
| Debt / EquityLower = less leverage | 0.26× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $156.7M | ||
| Q4 25 | $304.2M | $156.7M | ||
| Q3 25 | $290.5M | $191.5M | ||
| Q2 25 | $306.6M | $190.8M | ||
| Q1 25 | $337.8M | $180.3M | ||
| Q4 24 | $220.0M | $240.7M | ||
| Q3 24 | $211.0M | $254.6M | ||
| Q2 24 | $229.0M | $272.8M |
| Q1 26 | — | — | ||
| Q4 25 | $196.2M | — | ||
| Q3 25 | $195.9M | $0 | ||
| Q2 25 | $195.6M | $0 | ||
| Q1 25 | $195.3M | $5.4M | ||
| Q4 24 | — | $5.4M | ||
| Q3 24 | — | $13.2M | ||
| Q2 24 | — | $13.2M |
| Q1 26 | — | $686.0M | ||
| Q4 25 | $741.1M | $686.0M | ||
| Q3 25 | $725.1M | $697.7M | ||
| Q2 25 | $725.1M | $690.0M | ||
| Q1 25 | $719.9M | $686.1M | ||
| Q4 24 | $725.2M | $690.5M | ||
| Q3 24 | $732.1M | $712.7M | ||
| Q2 24 | $742.6M | $736.3M |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $1.2B | $1.1B | ||
| Q3 25 | $1.2B | $1.2B | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $1.3B | $1.1B | ||
| Q4 24 | $1.3B | $1.1B | ||
| Q3 24 | $1.3B | $1.1B | ||
| Q2 24 | $1.3B | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | 0.26× | — | ||
| Q3 25 | 0.27× | 0.00× | ||
| Q2 25 | 0.27× | 0.00× | ||
| Q1 25 | 0.27× | 0.01× | ||
| Q4 24 | — | 0.01× | ||
| Q3 24 | — | 0.02× | ||
| Q2 24 | — | 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 | — |
| Free Cash FlowOCF − Capex | $17.4M | $900.0K |
| FCF MarginFCF / Revenue | 12.3% | 0.3% |
| Capex IntensityCapex / Revenue | 0.6% | 0.0% |
| Cash ConversionOCF / Net Profit | 1.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | $42.8M | $-25.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $18.3M | $-1.9M | ||
| Q3 25 | $3.9M | $22.0M | ||
| Q2 25 | $-18.0M | $34.8M | ||
| Q1 25 | $41.6M | $-38.9M | ||
| Q4 24 | $6.0M | $13.9M | ||
| Q3 24 | $-16.0M | $-15.3M | ||
| Q2 24 | $-15.1M | $8.3M |
| Q1 26 | — | $900.0K | ||
| Q4 25 | $17.4M | $-37.2M | ||
| Q3 25 | $3.1M | $-6.4M | ||
| Q2 25 | $-18.9M | $17.0M | ||
| Q1 25 | $41.2M | $-66.4M | ||
| Q4 24 | $5.2M | $-1.3M | ||
| Q3 24 | $-16.5M | $-32.9M | ||
| Q2 24 | $-16.5M | $-5.8M |
| Q1 26 | — | 0.3% | ||
| Q4 25 | 12.3% | -13.9% | ||
| Q3 25 | 2.4% | -2.1% | ||
| Q2 25 | -15.5% | 5.6% | ||
| Q1 25 | 29.1% | -23.7% | ||
| Q4 24 | 3.6% | -0.5% | ||
| Q3 24 | -13.1% | -14.5% | ||
| Q2 24 | -13.4% | -2.0% |
| Q1 26 | — | 0.0% | ||
| Q4 25 | 0.6% | 13.2% | ||
| Q3 25 | 0.6% | 9.3% | ||
| Q2 25 | 0.7% | 5.8% | ||
| Q1 25 | 0.3% | 9.8% | ||
| Q4 24 | 0.6% | 6.3% | ||
| Q3 24 | 0.4% | 7.7% | ||
| Q2 24 | 1.1% | 4.8% |
| Q1 26 | — | — | ||
| Q4 25 | 1.34× | — | ||
| Q3 25 | 0.29× | 2.72× | ||
| Q2 25 | -9.47× | 9.41× | ||
| Q1 25 | — | -29.92× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.80× |
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% |
MTUS
Segment breakdown not available.
