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Side-by-side financial comparison of BLACKBERRY Ltd (BB) and VIRTUS INVESTMENT PARTNERS, INC. (VRTS). Click either name above to swap in a different company.
VIRTUS INVESTMENT PARTNERS, INC. is the larger business by last-quarter revenue ($199.5M vs $141.8M, roughly 1.4× BLACKBERRY Ltd). BLACKBERRY Ltd runs the higher net margin — 9.7% vs 3.6%, a 6.1% gap on every dollar of revenue. On growth, BLACKBERRY Ltd posted the faster year-over-year revenue change (-0.8% vs -4.1%). Over the past eight quarters, BLACKBERRY Ltd's revenue compounded faster (17.8% CAGR vs -5.7%).
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.
VIRTUS INVESTMENT PARTNERS, INC.VRTSEarnings & Financial Report
Virtus Investment Partners, Inc. is an American company which operates as a multi-manager asset management business, comprising a number of individual affiliated managers, each having its own investment process and brand, and the services of unaffiliated sub advisers.
BB vs VRTS — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $141.8M | $199.5M |
| Net Profit | $13.7M | $7.1M |
| Gross Margin | 77.5% | — |
| Operating Margin | 8.4% | 7.7% |
| Net Margin | 9.7% | 3.6% |
| Revenue YoY | -0.8% | -4.1% |
| Net Profit YoY | 224.5% | -78.1% |
| EPS (diluted) | $0.02 | $1.05 |
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.
| Q1 26 | — | $199.5M | ||
| Q4 25 | $141.8M | $208.0M | ||
| Q3 25 | $129.6M | $216.4M | ||
| Q2 25 | $121.7M | $210.5M | ||
| Q1 25 | $141.7M | $217.9M | ||
| Q4 24 | $143.6M | $233.5M | ||
| Q3 24 | $126.2M | $227.0M | ||
| Q2 24 | $123.4M | $224.4M |
| Q1 26 | — | $7.1M | ||
| Q4 25 | $13.7M | $33.9M | ||
| Q3 25 | $13.3M | $31.3M | ||
| Q2 25 | $1.9M | $42.7M | ||
| Q1 25 | $-7.4M | $28.1M | ||
| Q4 24 | $-10.5M | $39.5M | ||
| Q3 24 | $-19.7M | $49.1M | ||
| Q2 24 | $-41.4M | $26.0M |
| Q1 26 | — | — | ||
| 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 26 | — | 7.7% | ||
| Q4 25 | 8.4% | 19.1% | ||
| Q3 25 | 8.9% | 21.7% | ||
| Q2 25 | 1.6% | 21.5% | ||
| Q1 25 | -5.6% | 16.8% | ||
| Q4 24 | 13.6% | 21.7% | ||
| Q3 24 | 1.7% | 24.3% | ||
| Q2 24 | -10.5% | 19.7% |
| Q1 26 | — | 3.6% | ||
| Q4 25 | 9.7% | 16.3% | ||
| Q3 25 | 10.3% | 14.5% | ||
| Q2 25 | 1.6% | 20.3% | ||
| Q1 25 | -5.2% | 12.9% | ||
| Q4 24 | -7.3% | 16.9% | ||
| Q3 24 | -15.6% | 21.6% | ||
| Q2 24 | -33.5% | 11.6% |
| Q1 26 | — | $1.05 | ||
| Q4 25 | $0.02 | $5.15 | ||
| Q3 25 | $0.02 | $4.65 | ||
| Q2 25 | $0.00 | $6.12 | ||
| Q1 25 | $-0.01 | $4.05 | ||
| Q4 24 | $-0.02 | $4.65 | ||
| Q3 24 | $-0.03 | $5.71 | ||
| Q2 24 | $-0.07 | $2.43 |
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 | $136.6M |
| Total DebtLower is stronger | $196.2M | — |
| Stockholders' EquityBook value | $741.1M | $93.6B |
| Total Assets | $1.2B | — |
| Debt / EquityLower = less leverage | 0.26× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $136.6M | ||
| 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 26 | — | — | ||
| Q4 25 | $196.2M | $390.0M | ||
| Q3 25 | $195.9M | $390.6M | ||
| Q2 25 | $195.6M | $231.3M | ||
| Q1 25 | $195.3M | $231.7M | ||
| Q4 24 | — | $232.1M | ||
| Q3 24 | — | $237.5M | ||
| Q2 24 | — | $247.6M |
| Q1 26 | — | $93.6B | ||
| Q4 25 | $741.1M | $934.0M | ||
| Q3 25 | $725.1M | $918.7M | ||
| Q2 25 | $725.1M | $896.4M | ||
| Q1 25 | $719.9M | $893.7M | ||
| Q4 24 | $725.2M | $897.5M | ||
| Q3 24 | $732.1M | $889.0M | ||
| Q2 24 | $742.6M | $868.7M |
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $4.3B | ||
| Q3 25 | $1.2B | $3.9B | ||
| Q2 25 | $1.2B | $3.7B | ||
| Q1 25 | $1.3B | $3.7B | ||
| Q4 24 | $1.3B | $4.0B | ||
| Q3 24 | $1.3B | $3.6B | ||
| Q2 24 | $1.3B | $3.6B |
| Q1 26 | — | — | ||
| Q4 25 | 0.26× | 0.42× | ||
| Q3 25 | 0.27× | 0.43× | ||
| Q2 25 | 0.27× | 0.26× | ||
| Q1 25 | 0.27× | 0.26× | ||
| Q4 24 | — | 0.26× | ||
| Q3 24 | — | 0.27× | ||
| Q2 24 | — | 0.29× |
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 | — |
| 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.
| Q1 26 | — | — | ||
| Q4 25 | $18.3M | $-67.2M | ||
| Q3 25 | $3.9M | $108.3M | ||
| Q2 25 | $-18.0M | $75.8M | ||
| Q1 25 | $41.6M | $-3.8M | ||
| Q4 24 | $6.0M | $1.8M | ||
| Q3 24 | $-16.0M | $69.1M | ||
| Q2 24 | $-15.1M | $70.0M |
| Q1 26 | — | — | ||
| Q4 25 | $17.4M | $-74.1M | ||
| Q3 25 | $3.1M | $106.9M | ||
| Q2 25 | $-18.9M | $74.2M | ||
| Q1 25 | $41.2M | $-6.8M | ||
| Q4 24 | $5.2M | $-3.8M | ||
| Q3 24 | $-16.5M | $68.7M | ||
| Q2 24 | $-16.5M | $68.6M |
| Q1 26 | — | — | ||
| Q4 25 | 12.3% | -35.6% | ||
| Q3 25 | 2.4% | 49.4% | ||
| Q2 25 | -15.5% | 35.2% | ||
| Q1 25 | 29.1% | -3.1% | ||
| Q4 24 | 3.6% | -1.6% | ||
| Q3 24 | -13.1% | 30.3% | ||
| Q2 24 | -13.4% | 30.6% |
| Q1 26 | — | — | ||
| Q4 25 | 0.6% | 3.3% | ||
| Q3 25 | 0.6% | 0.7% | ||
| Q2 25 | 0.7% | 0.7% | ||
| Q1 25 | 0.3% | 1.4% | ||
| Q4 24 | 0.6% | 2.4% | ||
| Q3 24 | 0.4% | 0.2% | ||
| Q2 24 | 1.1% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.34× | -1.99× | ||
| Q3 25 | 0.29× | 3.45× | ||
| Q2 25 | -9.47× | 1.77× | ||
| Q1 25 | — | -0.13× | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 2.69× |
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% |
VRTS
| Investment management fees | $169.1M | 85% |
| Administration and shareholder service fees | $17.3M | 9% |
| Distribution and service fees | $11.6M | 6% |
