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Side-by-side financial comparison of BLACKBERRY Ltd (BB) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
BLACKBERRY Ltd is the larger business by last-quarter revenue ($141.8M vs $100.0M, roughly 1.4× Latham Group, Inc.). BLACKBERRY Ltd runs the higher net margin — 9.7% vs -7.0%, a 16.7% gap on every dollar of revenue. On growth, Latham Group, Inc. posted the faster year-over-year revenue change (14.5% vs -0.8%). BLACKBERRY Ltd produced more free cash flow last quarter ($17.4M vs $14.1M). Over the past eight quarters, BLACKBERRY Ltd's revenue compounded faster (17.8% CAGR vs -4.9%).
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.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
BB vs SWIM — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $141.8M | $100.0M |
| Net Profit | $13.7M | $-7.0M |
| Gross Margin | 77.5% | 28.0% |
| Operating Margin | 8.4% | -10.7% |
| Net Margin | 9.7% | -7.0% |
| Revenue YoY | -0.8% | 14.5% |
| Net Profit YoY | 224.5% | 76.0% |
| EPS (diluted) | $0.02 | $-0.06 |
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 | $100.0M | ||
| Q3 25 | $129.6M | $161.9M | ||
| Q2 25 | $121.7M | $172.6M | ||
| Q1 25 | $141.7M | $111.4M | ||
| Q4 24 | $143.6M | $87.3M | ||
| Q3 24 | $126.2M | $150.5M | ||
| Q2 24 | $123.4M | $160.1M | ||
| Q1 24 | $102.1M | $110.6M |
| Q4 25 | $13.7M | $-7.0M | ||
| Q3 25 | $13.3M | $8.1M | ||
| Q2 25 | $1.9M | $16.0M | ||
| Q1 25 | $-7.4M | $-6.0M | ||
| Q4 24 | $-10.5M | $-29.2M | ||
| Q3 24 | $-19.7M | $5.9M | ||
| Q2 24 | $-41.4M | $13.3M | ||
| Q1 24 | $-56.2M | $-7.9M |
| Q4 25 | 77.5% | 28.0% | ||
| Q3 25 | 74.5% | 35.4% | ||
| Q2 25 | 74.2% | 37.1% | ||
| Q1 25 | 73.5% | 29.5% | ||
| Q4 24 | 78.1% | 24.6% | ||
| Q3 24 | 70.2% | 32.4% | ||
| Q2 24 | 72.9% | 33.1% | ||
| Q1 24 | — | 27.7% |
| Q4 25 | 8.4% | -10.7% | ||
| Q3 25 | 8.9% | 13.3% | ||
| Q2 25 | 1.6% | 14.3% | ||
| Q1 25 | -5.6% | -4.4% | ||
| Q4 24 | 13.6% | -14.9% | ||
| Q3 24 | 1.7% | 8.9% | ||
| Q2 24 | -10.5% | 12.5% | ||
| Q1 24 | 50.0% | -1.9% |
| Q4 25 | 9.7% | -7.0% | ||
| Q3 25 | 10.3% | 5.0% | ||
| Q2 25 | 1.6% | 9.3% | ||
| Q1 25 | -5.2% | -5.4% | ||
| Q4 24 | -7.3% | -33.4% | ||
| Q3 24 | -15.6% | 3.9% | ||
| Q2 24 | -33.5% | 8.3% | ||
| Q1 24 | -55.0% | -7.1% |
| Q4 25 | $0.02 | $-0.06 | ||
| Q3 25 | $0.02 | $0.07 | ||
| Q2 25 | $0.00 | $0.13 | ||
| Q1 25 | $-0.01 | $-0.05 | ||
| Q4 24 | $-0.02 | $-0.24 | ||
| Q3 24 | $-0.03 | $0.05 | ||
| Q2 24 | $-0.07 | $0.11 | ||
| Q1 24 | $-0.08 | $-0.07 |
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 | — |
| Total DebtLower is stronger | $196.2M | $279.8M |
| Stockholders' EquityBook value | $741.1M | $405.9M |
| Total Assets | $1.2B | $823.2M |
| Debt / EquityLower = less leverage | 0.26× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $304.2M | — | ||
| Q3 25 | $290.5M | — | ||
| Q2 25 | $306.6M | — | ||
| Q1 25 | $337.8M | — | ||
| Q4 24 | $220.0M | — | ||
| Q3 24 | $211.0M | — | ||
| Q2 24 | $229.0M | — | ||
| Q1 24 | $237.1M | — |
| Q4 25 | $196.2M | $279.8M | ||
| Q3 25 | $195.9M | $281.1M | ||
| Q2 25 | $195.6M | $281.5M | ||
| Q1 25 | $195.3M | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M | ||
| Q1 24 | $194.1M | $282.8M |
| Q4 25 | $741.1M | $405.9M | ||
| Q3 25 | $725.1M | $408.4M | ||
| Q2 25 | $725.1M | $398.4M | ||
| Q1 25 | $719.9M | $381.1M | ||
| Q4 24 | $725.2M | $387.2M | ||
| Q3 24 | $732.1M | $416.6M | ||
| Q2 24 | $742.6M | $408.1M | ||
| Q1 24 | $775.1M | $391.8M |
| Q4 25 | $1.2B | $823.2M | ||
| Q3 25 | $1.2B | $844.4M | ||
| Q2 25 | $1.2B | $822.1M | ||
| Q1 25 | $1.3B | $824.6M | ||
| Q4 24 | $1.3B | $794.2M | ||
| Q3 24 | $1.3B | $853.4M | ||
| Q2 24 | $1.3B | $830.0M | ||
| Q1 24 | $1.4B | $808.6M |
| Q4 25 | 0.26× | 0.69× | ||
| Q3 25 | 0.27× | 0.69× | ||
| Q2 25 | 0.27× | 0.71× | ||
| Q1 25 | 0.27× | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | 0.25× | 0.72× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | $17.4M | $14.1M |
| FCF MarginFCF / Revenue | 12.3% | 14.1% |
| Capex IntensityCapex / Revenue | 0.6% | 9.2% |
| Cash ConversionOCF / Net Profit | 1.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | $42.8M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.3M | $23.3M | ||
| Q3 25 | $3.9M | $51.0M | ||
| Q2 25 | $-18.0M | $36.0M | ||
| Q1 25 | $41.6M | $-46.9M | ||
| Q4 24 | $6.0M | $6.2M | ||
| Q3 24 | $-16.0M | $37.2M | ||
| Q2 24 | $-15.1M | $52.4M | ||
| Q1 24 | $-15.5M | $-34.5M |
| Q4 25 | $17.4M | $14.1M | ||
| Q3 25 | $3.1M | $45.2M | ||
| Q2 25 | $-18.9M | $29.1M | ||
| Q1 25 | $41.2M | $-50.3M | ||
| Q4 24 | $5.2M | $-98.0K | ||
| Q3 24 | $-16.5M | $33.2M | ||
| Q2 24 | $-16.5M | $47.9M | ||
| Q1 24 | $-17.6M | $-39.9M |
| Q4 25 | 12.3% | 14.1% | ||
| Q3 25 | 2.4% | 27.9% | ||
| Q2 25 | -15.5% | 16.8% | ||
| Q1 25 | 29.1% | -45.2% | ||
| Q4 24 | 3.6% | -0.1% | ||
| Q3 24 | -13.1% | 22.1% | ||
| Q2 24 | -13.4% | 29.9% | ||
| Q1 24 | -17.2% | -36.0% |
| Q4 25 | 0.6% | 9.2% | ||
| Q3 25 | 0.6% | 3.6% | ||
| Q2 25 | 0.7% | 4.0% | ||
| Q1 25 | 0.3% | 3.1% | ||
| Q4 24 | 0.6% | 7.2% | ||
| Q3 24 | 0.4% | 2.7% | ||
| Q2 24 | 1.1% | 2.8% | ||
| Q1 24 | 2.1% | 4.8% |
| Q4 25 | 1.34× | — | ||
| Q3 25 | 0.29× | 6.29× | ||
| Q2 25 | -9.47× | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | — | 3.95× | ||
| 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% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
