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Side-by-side financial comparison of BLACKBERRY Ltd (BB) and Palomar Holdings, Inc. (PLMR). Click either name above to swap in a different company.
Palomar Holdings, Inc. is the larger business by last-quarter revenue ($253.4M vs $141.8M, roughly 1.8× BLACKBERRY Ltd). On growth, Palomar Holdings, Inc. posted the faster year-over-year revenue change (62.7% vs -0.8%). Palomar Holdings, Inc. produced more free cash flow last quarter ($409.0M vs $17.4M). Over the past eight quarters, Palomar Holdings, Inc.'s revenue compounded faster (46.2% 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.
Palomar Holdings, Inc. is a specialty insurance holding company that primarily provides property insurance products for catastrophe-exposed residential and commercial assets. It mainly operates across the United States, focusing on core segments including earthquake, flood, and windstorm coverage to meet high-risk property protection demands of customers.
BB vs PLMR — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $141.8M | $253.4M |
| Net Profit | $13.7M | — |
| Gross Margin | 77.5% | — |
| Operating Margin | 8.4% | 28.7% |
| Net Margin | 9.7% | — |
| Revenue YoY | -0.8% | 62.7% |
| Net Profit YoY | 224.5% | — |
| EPS (diluted) | $0.02 | $2.05 |
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 | $253.4M | ||
| Q3 25 | $129.6M | $244.7M | ||
| Q2 25 | $121.7M | $203.3M | ||
| Q1 25 | $141.7M | $174.6M | ||
| Q4 24 | $143.6M | $155.8M | ||
| Q3 24 | $126.2M | $148.5M | ||
| Q2 24 | $123.4M | $131.1M | ||
| Q1 24 | $102.1M | $118.5M |
| Q4 25 | $13.7M | — | ||
| Q3 25 | $13.3M | $51.5M | ||
| Q2 25 | $1.9M | $46.5M | ||
| Q1 25 | $-7.4M | $42.9M | ||
| Q4 24 | $-10.5M | — | ||
| Q3 24 | $-19.7M | $30.5M | ||
| Q2 24 | $-41.4M | $25.7M | ||
| Q1 24 | $-56.2M | $26.4M |
| 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% | 28.7% | ||
| Q3 25 | 8.9% | 27.4% | ||
| Q2 25 | 1.6% | 29.5% | ||
| Q1 25 | -5.6% | 30.8% | ||
| Q4 24 | 13.6% | 28.9% | ||
| Q3 24 | 1.7% | 25.9% | ||
| Q2 24 | -10.5% | 25.5% | ||
| Q1 24 | 50.0% | 29.0% |
| Q4 25 | 9.7% | — | ||
| Q3 25 | 10.3% | 21.0% | ||
| Q2 25 | 1.6% | 22.9% | ||
| Q1 25 | -5.2% | 24.6% | ||
| Q4 24 | -7.3% | — | ||
| Q3 24 | -15.6% | 20.5% | ||
| Q2 24 | -33.5% | 19.6% | ||
| Q1 24 | -55.0% | 22.3% |
| Q4 25 | $0.02 | $2.05 | ||
| Q3 25 | $0.02 | $1.87 | ||
| Q2 25 | $0.00 | $1.68 | ||
| Q1 25 | $-0.01 | $1.57 | ||
| Q4 24 | $-0.02 | $1.29 | ||
| Q3 24 | $-0.03 | $1.15 | ||
| Q2 24 | $-0.07 | $1.00 | ||
| Q1 24 | $-0.08 | $1.04 |
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 | $106.9M |
| Total DebtLower is stronger | $196.2M | — |
| Stockholders' EquityBook value | $741.1M | $942.7M |
| Total Assets | $1.2B | $3.1B |
| Debt / EquityLower = less leverage | 0.26× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $304.2M | $106.9M | ||
| Q3 25 | $290.5M | $111.7M | ||
| Q2 25 | $306.6M | $81.3M | ||
| Q1 25 | $337.8M | $119.3M | ||
| Q4 24 | $220.0M | $80.4M | ||
| Q3 24 | $211.0M | $86.5M | ||
| Q2 24 | $229.0M | $47.8M | ||
| Q1 24 | $237.1M | $61.4M |
| 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 | $942.7M | ||
| Q3 25 | $725.1M | $878.1M | ||
| Q2 25 | $725.1M | $847.2M | ||
| Q1 25 | $719.9M | $790.4M | ||
| Q4 24 | $725.2M | $729.0M | ||
| Q3 24 | $732.1M | $703.3M | ||
| Q2 24 | $742.6M | $532.6M | ||
| Q1 24 | $775.1M | $501.7M |
| Q4 25 | $1.2B | $3.1B | ||
| Q3 25 | $1.2B | $2.9B | ||
| Q2 25 | $1.2B | $2.8B | ||
| Q1 25 | $1.3B | $2.4B | ||
| Q4 24 | $1.3B | $2.3B | ||
| Q3 24 | $1.3B | $2.3B | ||
| Q2 24 | $1.3B | $2.0B | ||
| Q1 24 | $1.4B | $1.9B |
| 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 | $409.1M |
| Free Cash FlowOCF − Capex | $17.4M | $409.0M |
| FCF MarginFCF / Revenue | 12.3% | 161.4% |
| Capex IntensityCapex / Revenue | 0.6% | 0.1% |
| Cash ConversionOCF / Net Profit | 1.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | $42.8M | $700.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.3M | $409.1M | ||
| Q3 25 | $3.9M | $83.6M | ||
| Q2 25 | $-18.0M | $120.9M | ||
| Q1 25 | $41.6M | $87.2M | ||
| Q4 24 | $6.0M | $261.2M | ||
| Q3 24 | $-16.0M | $100.3M | ||
| Q2 24 | $-15.1M | $55.1M | ||
| Q1 24 | $-15.5M | $33.1M |
| Q4 25 | $17.4M | $409.0M | ||
| Q3 25 | $3.1M | $83.6M | ||
| Q2 25 | $-18.9M | $120.8M | ||
| Q1 25 | $41.2M | $87.1M | ||
| Q4 24 | $5.2M | $260.9M | ||
| Q3 24 | $-16.5M | $100.1M | ||
| Q2 24 | $-16.5M | — | ||
| Q1 24 | $-17.6M | — |
| Q4 25 | 12.3% | 161.4% | ||
| Q3 25 | 2.4% | 34.2% | ||
| Q2 25 | -15.5% | 59.4% | ||
| Q1 25 | 29.1% | 49.9% | ||
| Q4 24 | 3.6% | 167.5% | ||
| Q3 24 | -13.1% | 67.4% | ||
| Q2 24 | -13.4% | — | ||
| Q1 24 | -17.2% | — |
| Q4 25 | 0.6% | 0.1% | ||
| Q3 25 | 0.6% | 0.0% | ||
| Q2 25 | 0.7% | 0.0% | ||
| Q1 25 | 0.3% | 0.0% | ||
| Q4 24 | 0.6% | 0.2% | ||
| Q3 24 | 0.4% | 0.1% | ||
| Q2 24 | 1.1% | 0.0% | ||
| Q1 24 | 2.1% | 0.0% |
| Q4 25 | 1.34× | — | ||
| Q3 25 | 0.29× | 1.63× | ||
| Q2 25 | -9.47× | 2.60× | ||
| Q1 25 | — | 2.03× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.29× | ||
| Q2 24 | — | 2.14× | ||
| Q1 24 | — | 1.26× |
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% |
PLMR
Segment breakdown not available.
