Technology

BlackBerry Reports First Quarter Fiscal Year 2025 Results

Published

2 years ago

June 26, 2024

Exceeds quarterly revenue guidance for both IoT and Cybersecurity divisionsIoT achieves 18% year over year revenue growth in the quarterDelivers sequential improvement in key Cybersecurity ARR and DBNRR metricsExceeds guidance for adjusted EBITDA and non-GAAP earnings per shareMakes significant progress in operational separation of IoT and Cybersecurity businesses

WATERLOO, ON, June 26, 2024 /PRNewswire/ — BlackBerry Limited (NYSE: BB; TSX: BB) today reported financial results for the three months ended May 31, 2024 (all figures in U.S. dollars and U.S. GAAP, except where otherwise indicated).

“BlackBerry’s strategy is delivering results. The Company is making significant progress towards operational independence for our IoT and Cybersecurity businesses, as well as towards profitability. We exceeded our outlook range for both adjusted EBITDA and non-GAAP EPS this quarter and achieved a third consecutive sequential improvement in free cash usage. BlackBerry remains on track to be both profitable on a non-GAAP basis and generating positive cashflow in the fourth quarter,” said John J. Giamatteo, CEO, BlackBerry. “Both our IoT and Cybersecurity businesses beat revenue expectations. QNX recorded solid royalty revenue while our Cybersecurity division delivered a second consecutive quarter of ARR growth, as well as further enhancing dollar-based net retention.”

First Quarter Fiscal 2025 Financial Highlights

Total company revenue was $144 million.Total company non-GAAP and GAAP gross margin was 67%.IoT revenue grew 18% year-over-year and exceeded previously-provided guidance at $53 million; IoT gross margin was 81%.Cybersecurity exceeded previously-provided guidance at $85 million; Cybersecurity gross margin was 59%.Cybersecurity ARR increased by 2% sequentially to $285 million; DBNRR increased sequentially for third consecutive quarter to 87%.Licensing and Other revenue was $6 million.Non-GAAP operating loss was $12 million and GAAP operating loss was $39 million.Non-GAAP basic loss per share beat the previously-provided guidance at $0.03 and GAAP basic loss per share was $0.07.Adjusted EBITDA was negative $7 million.Total cash, cash equivalents, short-term and long-term investments was $283 million; Operating cash usage was sequentially flat at $15 million, while free cash usage decreased sequentially for the third consecutive quarter to $16 million.

Business Highlights & Strategic Announcements

ETAS and BlackBerry QNX® forge partnership to jointly sell and market software solutions to provide the safe and secure foundation for the Software-Defined Vehicle (SDV).BlackBerry announces collaboration with AMD to advance foundational precision and control for robotics industry by enabling new levels of low latency and jitter, and repeatable determinism.BlackBerry launches CylanceMDR™, an expert driven and AI-powered Managed Detection and Response (MDR) solution, including an innovative “On-Demand” solution.BlackBerry introduces Cylance Assistant, a generative AI cybersecurity advisor that will help organizations speed up decision-making and stop more threats faster with fewer resources.BlackBerry® UEM places in upper-right quadrant as a 2024 Gartner® Peer Insights™ Customers’ Choice for Unified Endpoint Management tools for second year running.Independent test lab, The Tolly Group, identifies BlackBerry CylanceENDPOINT™ as detecting up to 25 percent more threats and with up to eight times less system impact than competitors.BlackBerry nominates Lori O’Neill, an experienced corporate director and financial expert, for election to its Board of Directors.

Outlook

BlackBerry is providing the following guidance for the second quarter (ending August 31, 2024) and the full fiscal year 2025 (ending February 28, 2025).

Q2 FY25

Full fiscal year FY25

Total BlackBerry revenue:

$136 – $144 million

$586 – $616 million

IoT revenue:

$50 – $54 million

$220 – $235 million

Cybersecurity revenue:

$82 – $86 million

$350 – $365 million

Licensing & Other revenue:

Approximately $4 million

Approximately $16 million

Adjusted EBITDA:

($5) – ($15) million

Breakeven – +$10 million

Non-GAAP basic EPS:

($0.02) – ($0.04)

($0.03) – ($0.07)

Use of Non-GAAP Financial Measures
The tables at the end of this press release include a reconciliation of the non-GAAP financial measures and non-GAAP financial ratios used by the company to comparable U.S. GAAP measures and an explanation of why the company uses them. The Company does not provide a reconciliation of expected Adjusted EBITDA and expected Non-GAAP basic EPS for the second quarter and full fiscal year 2025 to the most directly comparable expected GAAP measures because it is unable to predict with reasonable certainty, among other things, restructuring charges and impairment charges and, accordingly, a reconciliation is not available without unreasonable effort. These items are uncertain, depend on various factors, and could have a material impact on GAAP reported results for the guidance period. For more information on the non-GAAP financial measures, please refer to the tables at the end of this press release.

Conference Call and Webcast
A conference call and live webcast will be held today beginning at 5:30 p.m. ET, which can be accessed using the following link (here) or through the Company’s investor webpage (BlackBerry.com/Investors) or by dialing toll free +1 (877) 883-0383 and entering Elite Entry Number 6322676.

A replay of the conference call will be available at approximately 8:30 p.m. ET today, using the same webcast link (here) or by dialing Canada toll free +1 (855) 669-9658 or US toll free +1 (877) 344-7529 and entering Replay Access Code 5225167.

About BlackBerry
BlackBerry (NYSE: BB; TSX: BB) provides intelligent security software and services to enterprises and governments around the world. The company’s software powers over 235M vehicles. Based in Waterloo, Ontario, the company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety and data privacy, and is a leader in the areas of endpoint security management, encryption, and embedded systems. BlackBerry’s vision is clear – to secure a connected future you can trust.

BlackBerry. Intelligent Security. Everywhere.
For more information, visit BlackBerry.com and follow @BlackBerry.

Investor Contact:
BlackBerry Investor Relations
+1 (519) 888-7465
investorrelations@blackberry.com

Media Contact:
BlackBerry Media Relations
+1 (519) 597-7273
mediarelations@blackberry.com

This news release contains forward-looking statements within the meaning of certain securities laws, including under the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including statements regarding BlackBerry’s plans, strategies and objectives including its expectations with respect to increasing and enhancing its product and service offerings.

The words “expect”, “anticipate”, “estimate”, “may”, “will”, “should”, “could”, “intend”, “believe”, “target”, “plan” and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by BlackBerry in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that BlackBerry believes are appropriate in the circumstances, including but not limited to, BlackBerry’s expectations regarding its business, strategy, opportunities and prospects, the launch of new products and services, general economic conditions, competition, BlackBerry’s expectations regarding its financial performance, and BlackBerry’s expectations regarding the planned separation of its businesses. Many factors could cause BlackBerry’s actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, risks related to the following factors: BlackBerry’s ability to maintain or expand its customer base for its software and services offerings to grow revenue or achieve sustained profitability; BlackBerry’s sales cycles and the time and expense of its sales efforts; the intense competition faced by BlackBerry; BlackBerry’s ability to enhance, develop, introduce or monetize products and services for the enterprise market in a timely manner with competitive pricing, features and performance; the occurrence or perception of a breach of BlackBerry’s network cybersecurity measures, or an inappropriate disclosure of confidential or personal information; potential impacts of BlackBerry’s proposed business unit separation and cost reduction initiatives; BlackBerry’s continuing ability to attract new personnel, retain existing key personnel and manage its staffing effectively; risks arising from a failure or perceived failure of BlackBerry’s solutions to detect or prevent security vulnerabilities; BlackBerry’s dependence on its relationships with resellers and channel partners; litigation against BlackBerry; adverse macroeconomic and geopolitical conditions; network disruptions or other business interruptions; BlackBerry’s ability to foster an ecosystem of third-party application developers; BlackBerry’s products and services being dependent upon interoperability with rapidly changing systems provided by third parties; failure to protect BlackBerry’s intellectual property and to earn expected revenues from intellectual property rights; BlackBerry’s ability to obtain rights to use third-party software and its use of open source software; BlackBerry potentially being found to have infringed on the intellectual property rights of others; BlackBerry’s indebtedness, which could impact its operating flexibility and financial condition; the substantial asset risk faced by BlackBerry, including the potential for charges related to its long-lived assets and goodwill; tax provision changes, the adoption of new tax legislation or exposure to additional tax liabilities; the use and management of user data and personal information; government regulations applicable to BlackBerry’s products and services, including products containing encryption capabilities; environmental, social and governance expectations and standards; the failure of BlackBerry’s suppliers, subcontractors, channel partners and representatives to use acceptable ethical business practices or comply with applicable laws; potential impacts of acquisitions, divestitures and other business initiatives; risks associated with foreign operations, including fluctuations in foreign currencies; environmental events; the fluctuation of BlackBerry’s quarterly revenue and operating results; and the volatility of the market price of BlackBerry’s common shares.

These risk factors and others relating to BlackBerry are discussed in greater detail in BlackBerry’s Annual Report on Form 10-K and the “Cautionary Note Regarding Forward-Looking Statements” section of BlackBerry’s MD&A (copies of which filings may be obtained at www.sedarplus.ca or www.sec.gov). All of these factors should be considered carefully, and readers should not place undue reliance on BlackBerry’s forward-looking statements. Any statements that are forward-looking statements are intended to enable BlackBerry’s shareholders to view the anticipated performance and prospects of BlackBerry from management’s perspective at the time such statements are made, and they are subject to the risks that are inherent in all forward-looking statements, as described above, as well as difficulties in forecasting BlackBerry’s financial results and performance for future periods, particularly over longer periods, given changes in technology and BlackBerry’s business strategy, evolving industry standards, intense competition and short product life cycles that characterize the industries in which BlackBerry operates. Any forward-looking statements are made only as of today and BlackBerry has no intention and undertakes no obligation to update or revise any of them, except as required by law.

BlackBerry Limited

Incorporated under the Laws of Ontario

(United States dollars, in millions except share and per share amounts) (unaudited)

Consolidated Statements of Operations

Three Months Ended

May 31, 2024

February 29, 2024

May 31, 2023

Revenue

$ 144

$ 173

$ 373

Cost of sales

194

Gross margin

129

179

Gross margin %

66.7 %

74.6 %

48.0 %

Operating expenses

Research and development

Sales and marketing

General and administrative

Amortization

Impairment of goodwill

—

Impairment of long-lived assets

—

Debentures fair value adjustment

—

135

185

190

Operating loss

(39)

(56)

(11)

Investment income, net

Loss before income taxes

(34)

(52)

(8)

Provision for income taxes

Net loss

$ (42)

$ (56)

$ (11)

Loss per share

Basic

$ (0.07)

$ (0.10)

$ (0.02)

Diluted

$ (0.07)

$ (0.10)

$ (0.02)

Weighted-average number of common shares outstanding (000s)

Basic

589,821

587,523

582,812

Diluted

589,821

587,523

582,812

Total common shares outstanding (000s)

590,171

589,233

583,237

BlackBerry Limited

Incorporated under the Laws of Ontario

(United States dollars, in millions) (unaudited)

Consolidated Balance Sheets

As at

May 31, 2024

February 29, 2024

Assets

Current

Cash and cash equivalents

$ 143

$ 175

Short-term investments

Accounts receivable, net of allowance of $5 and $6, respectively

148

199

Other receivables

Income taxes receivable

Other current assets

458

508

Restricted cash and cash equivalents

Long-term investments

Other long-term assets

Operating lease right-of-use assets, net

Property, plant and equipment, net

Intangible assets, net

145

154

Goodwill

561

562

$ 1,323

$ 1,395

Liabilities

Current

Accounts payable

$ 6

$ 17

Accrued liabilities

112

117

Income taxes payable

Deferred revenue, current

174

194

321

356

Deferred revenue, non-current

Operating lease liabilities

Other long-term liabilities

Long-term notes

194

581

619

Shareholders’ equity

Capital stock and additional paid-in capital

2,957

2,948

Deficit

(2,200)

(2,158)

Accumulated other comprehensive loss

(15)

(14)

742

776

$ 1,323

$ 1,395

BlackBerry Limited

Incorporated under the Laws of Ontario

(United States dollars, in millions) (unaudited)

Consolidated Statements of Cash Flows

Three Months Ended

May 31, 2024

May 31, 2023

Cash flows from operating activities

Net loss

$ (42)

$ (11)

Adjustments to reconcile net loss to net cash provided by (used in) operating activities:

Amortization

Stock-based compensation

Impairment of long-lived assets

—

Intellectual property disposed of by sale

—

147

Debentures fair value adjustment

—

Operating leases

(2)

(1)

Other

(3)

—

Net changes in working capital items

Accounts receivable, net of allowance

Other receivables

—

Income taxes receivable

—

Other assets

(13)

(62)

Accounts payable

(11)

(3)

Accrued liabilities

(5)

(14)

Income taxes payable

Deferred revenue

(16)

(12)

Net cash provided by (used in) operating activities

(15)

Cash flows from investing activities

Acquisition of long-term investments

—

(1)

Acquisition of property, plant and equipment

(1)

(2)

Acquisition of intangible assets

(1)

(8)

Acquisition of short-term investments

(49)

(66)

Proceeds on sale or maturity of short-term investments

Net cash used in investing activities

(26)

(38)

Cash flows from financing activities

Issuance of common shares

Net cash provided by financing activities

Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents during the period

(40)

Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of period

200

322

Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of period

$ 160

$ 385

As at

May 31, 2024

February 29, 2024

Cash and cash equivalents

$ 143

$ 175

Restricted cash and cash equivalents

Short-term investments

Long-term investments

$ 283

$ 298

Reconciliations of the Company’s Segment Results to the Consolidated Results

The following tables show information by operating segment for the three months ended May 31, 2024 and May 31, 2023. The Company reports segment information in accordance with U.S. GAAP Accounting Standards Codification Section 280 based on the “management” approach. The management approach designates the internal reporting used by the CODM for making decisions and assessing performance of the Company’s reportable operating segments:

For the Three Months Ended

(in millions) (unaudited)

Cybersecurity

IoT

Licensing and Other

Segment Totals

May 31,

2024

2023

2024

2023

2024

2023

2024

2023

Segment revenue

$ 85

$ 93

$ 53

$ 45

$ 6

$ 235

$ 144

$ 373

Segment cost of sales

147

193

Segment gross margin

$ 50

$ 56

$ 43

$ 36

$ 4

$ 88

$ 97

$ 180

Segment gross margin %

59 %

60 %

81 %

80 %

67 %

37 %

67 %

48 %

The following table reconciles the Company’s segment results for the three months ended May 31, 2024 to consolidated U.S. GAAP results:

For the Three Months Ended May 31, 2024

(in millions) (unaudited)

Cybersecurity

IoT

Licensing and Other

Segment Totals

Reconciling Items

Consolidated U.S. GAAP

Revenue

$ 85

$ 53

$ 6

$ 144

$ —

$ 144

Cost of sales

Gross margin (1)

$ 50

$ 43

$ 4

$ 97

$ (1)

$ 96

Operating expenses

135

Investment income, net

Loss before income taxes

$ (34)

______________________________

(1) See “Non-GAAP Financial Measures” for a reconciliation of selected U.S. GAAP-based measures to adjusted measures for the three months and year ended May 31, 2024.

The following table reconciles the Company’s segment results for the three months ended May 31, 2023 to consolidated U.S. GAAP results:

For the Three Months Ended May 31, 2023

(in millions) (unaudited)

Cybersecurity

IoT

Licensing and Other

Segment Totals

Reconciling Items

Consolidated U.S. GAAP

Revenue

$ 93

$ 45

$ 235

$ 373

$ —

$ 373

Cost of sales

147

193

194

Gross margin (1)

$ 56

$ 36

$ 88

$ 180

$ (1)

$ 179

Operating expenses

190

Investment income, net

Loss before income taxes

$ (8)

______________________________

(1) See “Non-GAAP Financial Measures” for a reconciliation of selected U.S. GAAP-based measures to adjusted measures for the three months and year ended May 31, 2023.

Reconciliation of Non-GAAP Measures with the Nearest Comparable U.S. GAAP Measures

In the Company’s internal reports, management evaluates the performance of the Company’s business on a non-GAAP basis by excluding the impact of certain items below from the Company’s U.S. GAAP financial results. The Company believes that these non-GAAP financial measures and non-GAAP ratios provide management, as well as readers of the Company’s financial statements, with a consistent basis for comparison across accounting periods and are useful in helping management and readers understand the Company’s operating results and underlying operational trends.

Readers are cautioned that adjusted gross margin, adjusted gross margin percentage, adjusted operating expense, adjusted net income (loss), adjusted earnings (loss) per share, adjusted research and development expense, adjusted sales and marketing expense, adjusted general and administrative expense, adjusted amortization expense, adjusted operating income (loss), adjusted EBITDA, adjusted operating income (loss) margin percentage, adjusted EBITDA margin percentage and free cash flow (usage) and similar measures do not have any standardized meaning prescribed by U.S. GAAP and are therefore unlikely to be comparable to similarly titled measures reported by other companies. These non-GAAP financial measures should be considered in the context of the U.S. GAAP results.

Reconciliation of non-GAAP based measures with most directly comparable U.S. GAAP based measures for the three months ended May 31, 2024 and May 31, 2023

A reconciliation of the most directly comparable U.S. GAAP financial measures for the three months ended May 31, 2024 and May 31, 2023 to adjusted financial measures is reflected in the table below:

For the Three Months Ended (in millions)

May 31, 2024

May 31, 2023

Gross margin

$ 96

$ 179

Stock compensation expense

Adjusted gross margin

$ 97

$ 180

Gross margin %

66.7 %

48.0 %

Stock compensation expense

0.7 %

0.3 %

Adjusted gross margin %

67.4 %

48.3 %

Reconciliation of U.S. GAAP operating expense for the three months ended May 31, 2024 and May 31, 2023 to adjusted operating expense is reflected in the table below:

For the Three Months Ended (in millions)

May 31, 2024

May 31, 2023

Operating expense

$ 135

$ 190

Restructuring charges

Stock compensation expense

Debentures fair value adjustment

—

Acquired intangibles amortization

LLA impairment charge

—

Adjusted operating expense

$ 109

$ 145

Reconciliation of U.S. GAAP net loss and U.S. GAAP basic loss per share for the three months ended May 31, 2024 and May 31, 2023 to adjusted net income (loss) and adjusted basic earnings (loss) per share is reflected in the table below:

For the Three Months Ended (in millions, except per share amounts)

May 31, 2024

May 31, 2023

Basic loss

per share

Basic earnings (loss)

per share

Net loss

$ (42)

$(0.07)

$ (11)

$(0.02)

Restructuring charges

Stock compensation expense

Debentures fair value adjustment

—

Acquired intangibles amortization

LLA impairment charge

—

Adjusted net income (loss)

$ (15)

$(0.03)

$ 35

$0.06

Reconciliation of U.S. GAAP research and development, sales and marketing, general and administrative, and amortization expense for the three months ended May 31, 2024 and May 31, 2023 to adjusted research and development, sales and marketing, general and administrative, and amortization expense is reflected in the table below:

For the Three Months Ended (in millions)

May 31, 2024

May 31, 2023

Research and development

$ 42

$ 54

Stock compensation expense

Adjusted research and development expense

$ 40

$ 52

Sales and marketing

$ 38

$ 45

Stock compensation expense

Adjusted sales and marketing expense

$ 36

$ 44

General and administrative

$ 40

$ 54

Restructuring charges

Stock compensation expense

Adjusted general and administrative expense

$ 29

$ 44

Amortization

$ 12

$ 15

Acquired intangibles amortization

Adjusted amortization expense

$ 4

$ 5

Adjusted operating income (loss), adjusted EBITDA, adjusted operating income (loss) margin percentage and adjusted EBITDA margin percentage for the three months ended May 31, 2024 and May 31, 2023 are reflected in the table below:

For the Three Months Ended (in millions)

May 31, 2024

May 31, 2023

Operating loss

$ (39)

$ (11)

Non-GAAP adjustments to operating loss

Restructuring charges

Stock compensation expense

Debentures fair value adjustment

—

Acquired intangibles amortization

LLA impairment charge

—

Total non-GAAP adjustments to operating loss

$ 27

Adjusted operating income (loss)

(12)

Amortization

Acquired intangibles amortization

(8)

(10)

Adjusted EBITDA

$ (7)

$ 41

Revenue

$ 144

$ 373

Adjusted operating income (loss) margin % (1)

(8 %)

9 %

Adjusted EBITDA margin % (2)

(5 %)

11 %

______________________________

(1) Adjusted operating income (loss) margin % is calculated by dividing adjusted operating income (loss) by revenue.

(2) Adjusted EBITDA margin % is calculated by dividing adjusted EBITDA by revenue.

The Company uses free cash flow (usage) when assessing its sources of liquidity, capital resources, and quality of earnings. The Company believes that free cash flow (usage) is helpful in understanding the Company’s capital requirements and provides an additional means to reflect the cash flow trends in the Company’s business.

Reconciliation of U.S. GAAP net cash used in operating activities for the three months ended May 31, 2024 and May 31, 2023 to free cash flow (usage) is reflected in the table below:

For the Three Months Ended (in millions)

May 31, 2024

May 31, 2023

Net cash provided by (used in) operating activities

$ (15)

$ 99

Acquisition of property, plant and equipment

(1)

(2)

Free cash flow (usage)

$ (16)

$ 97

Key Metrics

The Company regularly monitors a number of financial and operating metrics, including the following key metrics, in order to measure the Company’s current performance and estimated future performance. Readers are cautioned that annual recurring revenue (“ARR”), dollar-based net retention rate (“DBNRR”), and recurring revenue percentage do not have any standardized meaning and are unlikely to be comparable to similarly titled measures reported by other companies.

For the Three Months Ended (in millions)

May 31, 2024

Cybersecurity Annual Recurring Revenue

$ 285

Cybersecurity Dollar-Based Net Retention Rate

87 %

Recurring Software Product Revenue Percentage

~80 %

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SOURCE BlackBerry Limited

Technology

Technosylva Introduces First-of-Its-Kind Urban Conflagration Modeling for the Built Environment

Published

23 minutes ago

April 22, 2026

Significant enhancements deliver critical fire intelligence in the wildland-urban interface, helping utilities and emergency agencies protect lives and infrastructure

LA JOLLA, Calif., April 22, 2026 /PRNewswire/ — Technosylva, the global leader in wildfire and extreme weather science and technology, today launched major enhancements to its urban conflagration model that predicts how fires spread through populated areas and quantifies risk to buildings. The model addresses a key limitation of traditional wildfire science: much of it has focused on wildland areas, classifying urban areas as “non-burnable.” This limitation slows fire simulations at the community boundary, leaving fire agencies, utilities, and insurers with limited forward visibility into how fire will behave in populated communities.

Technosylva’s capabilities provide two notable wildfire modeling enhancements. First, the urban conflagration model simulates how fires will behave in the wildland urban interface (WUI), where characteristics such as structure density, vegetation encroachment, and fuel types result in fundamental differences compared to wildland fires. Second, the Dynamic Building Loss Factor provides unprecedented insight into the vulnerability of structures. This information enables utilities and agencies to undertake appropriate mitigations, such as asset hardening, undergrounding lines, vegetation management, and community education and engagement.

“Recent devastating fires have made one thing clear: populated areas face disproportionate impacts—and require greater focus to protect them,” said Bryan Spear, CEO of Technosylva. “Traditional wildfire models were designed for wildland fuels and fire behavior. Our approach builds on that foundation by showing how fires actually move through communities. By more accurately modeling the risks and consequences, utilities and fire agencies can make smarter, risk-based decisions to mitigate wildfire risks, communicate threats, maintain power, and better protect the communities they serve.”

According to a 2023 article in the Proceedings of the National Academy of Sciences [1], “community fire destruction has become a national crisis.” Recent disasters in Lahaina, Gatlinburg, and Marshall show why. Many communities aren’t built to withstand ignition, and once a structure catches fire, it can quickly spread flames and embers to neighboring buildings. The result is fast-moving, large-scale destruction with lasting impacts on entire communities.

Key Technology Advances Addressing Critical Industry Needs

Technosylva’s unique model was trained on a comprehensive database of WUI fires, examining environmental conditions, weather patterns, and fuel characteristics to understand the drivers of urban conflagration. One of the primary challenges in modeling fire behavior in the built environment is a limited number of historical fires upon which to draw conclusions and build scalable models. Technosylva’s modeling approach has overcome these challenges, effectively capturing the complex interactions between wildfire and the built environment.

Notable enhancements to Technosylva’s modeling approach include:

WUI Fuel Mapping: Development of 12 unique WUI fuel types that more accurately reflect the manner in which the infrastructure in the built environment becomes a fuel source for the fire. This is critical for understanding how the characteristics of the built environment impact the rate of spread, intensity, and speed of fires in the WUI.Dynamic Building Loss Factor: Machine learning models to capture expected building loss, leveraging characteristics such as structure characteristics and building age that drive vulnerability. Combined with assessments of topography, vegetation, and other building properties such as density and proximity to roads, this intelligence identifies not just whether a community is threatened, but the types of structures and conditions that result in the highest risk.Characterization of Fire Behavior Under Extreme Conditions: Calibrated to accurately reflect urban encroachment and fire spread rates in WUI environments—particularly during the most extreme events. Capturing fires that have historically been labeled as “outliers” is critical for utilities and communities to understand and prepare for potential worst-case scenarios.High-Resolution Weather Integration: Captures localized wind patterns, humidity gradients, and temperature variations at a scale matched to “neighborhood-level” fire behavior.

Large-scale urban fires were once rare, but in recent years their frequency and severity has increased dramatically. When wildfires reach communities, the “fuel” is no longer just vegetation—it’s homes and businesses. In Lahaina alone, a single urban conflagration caused an estimated $4 to $6 billion in economic losses. The consequences can be devastating for both life and property. Technosylva’s modeling has evolved to capture how fires spread through the built environment, enabling utilities and agencies to make more informed, risk-based decisions.

[1] https://www.fs.usda.gov/rm/pubs_journals/2023/rmrs_2023_calkin_d001.pdf

About Technosylva
Technosylva is the leading provider of wildfire and extreme weather modeling, risk mitigation, and operational response software. Technosylva’s market-leading solutions, enhanced by AI and machine learning capabilities, provide real-time and predictive insights into developing wildfire and extreme weather risks to support electric utility, insurance, and government agency customers. Founded in 1997, Technosylva has offices in La Jolla, CA, León, Spain, and Calgary, Canada. Learn more at www.Technosylva.com.

Contacts
For Technosylva:
Lucian Deaton
Senior Digital Marketing Manager
412620@email4pr.com

Colin Mahoney
Mahoney Communications Group
412620@email4pr.com
212.220.6045

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SOURCE Technosylva

Technology

Parks Associates: Roku (28%) and Samsung (23%) Dominate Connected TV Platforms, Controlling Access to Streaming Audiences in the US Market

Published

23 minutes ago

April 22, 2026

Data shows Amazon, LG, and Vizio hold smaller shares as platform control drives content discovery, advertising, and monetization

PLANO, Texas, April 22, 2026 /PRNewswire/ — Parks Associates’ latest US household research from the Streaming Video Tracker shows the connected TV platform market remains concentrated among a small group of leading operating systems, with Roku OS (28%) and Samsung’s Tizen OS (23%) accounting for the largest share of usage in US broadband households.

The firm’s data shows Amazon Fire TV, LG webOS, and Vizio SmartCast maintain mid-tier positions, while platforms such as Apple tvOS, gaming consoles, and Android TV hold smaller shares. This distribution reinforces the role of smart TV operating systems as the primary gateway for streaming content and services.

“Control of the platform layer is central to competition in the connected TV market,” said Michael Goodman, Director, Entertainment, Parks Associates. “Operating systems determine what content consumers see, how services are positioned, and how advertising is delivered.”

Recent trends highlighted in the research include:

Platform concentration: A small number of operating systems account for the majority of CTV (connected TV) usage, limiting visibility for services without strong distribution partnerships.Stable market share: Platform rankings have remained consistent over time, with Roku showing modest growth and Samsung maintaining a strong installed base.Advertising control: Leading platforms manage ad inventory, data collection, and targeting, shaping monetization across the ecosystem.Discovery and engagement: The TV OS plays a key role in recommendations, search, and user experience, influencing viewing behavior.

The data highlights the importance of platform ecosystems, as control of the TV operating system impacts content distribution, advertising revenue, and consumer engagement across the CTV market. With the growing role of AI in the TV OS for search and personalization, the importance of platform ecosystems is only going to grow in the coming years.

For more information, contact Mindi Sue Sternblitz-Rubenstein. Request information about Parks Associates’ Streaming Video Tracker.

Parks Associates will host the ninth annual Future of Video at the Marina del Rey Marriott in California, November 17-18.

About Parks Associates
Parks Associates helps companies identify new opportunities, refine strategy, and accelerate growth in connected technology markets through data-driven insights and industry expertise. With more than 40 years of experience, the firm delivers proprietary consumer and industry research, market forecasts, and strategic analysis that guide business decisions across personal, connected home, small business, and commercial technology ecosystems. Parks Associates supports clients in navigating evolving markets including AI, security, smart home, broadband, entertainment, energy, multifamily, smart buildings, and connected health.

The firm also fosters industry growth and collaboration by convening thousands of leaders each year through its flagship executive conferences, including CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. Learn more at https://www.parksassociates.com.

Follow Parks Associates on LinkedIn, Facebook, and Instagram.

Mindi Sue Sternblitz-Rubenstein
Parks Associates
972.490.1113
412621@email4pr.com

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Technology

FINBOA Named Double Finalist for 2026 Banking Tech Awards

Published

23 minutes ago

April 22, 2026

FINBOA recognized in ‘Best of RegTech’ and ‘Best-as-a-Service’ categories

HOUSTON, April 22, 2026 /PRNewswire/ — FINBOA, Inc., a leader in process automation solutions for regulatory compliance in financial institutions, is proud to announce it has been named a finalist in two categories for the 2026 Banking Tech Awards: Excellence in Tech Awards. The company was recognized in the Best RegTech Solution category for its FINBOA BI-Disputes solution and in the Best “as-a-Service” Solution category for its FINBOA Treasury Onboarding solution. As a shortlist finalist, FINBOA’s software has been identified as an innovation leader in the U.S. Banking and RegTech space.

“Being named a finalist in two categories at the Banking Tech Awards is a strong validation of our mission to simplify and modernize complex banking operations,” said Raj Singal, CEO of FINBOA. “FINBOA Treasury Onboarding and BI-Disputes solutions were built to solve real challenges our bank and credit union clients face every day; such as eliminating manual effort, improving regulatory compliance and timely access to information to guide decision-making. We’re proud to see both solutions recognized for their impact and innovation.”

The FINBOA Treasury Onboarding solution was selected as a finalist in the Best “as-a-Service” category for providing intuitive automated workflows to replace manual, paper-based, and fragmented processes for new account setups. The solution accelerates account activation, shortens time to revenue, and enhances the commercial client experience, without requiring core system integration. Its zero-integration deployment model enables financial institutions to modernize quickly while minimizing operational disruption. FINBOA clients using the solution have noted the time-saving impact of process automation on their workflows. For example, First Oklahoma Bank’s Senior Vice President, Kristy Smith noted, “Within just two months, we transformed our Treasury Onboarding from a slow, manual process—relying on paper and email—to a fully digitized workflow. The feedback from both customers and staff has been overwhelmingly positive. FINBOA made that possible.”

FINBOA BI-Disputes, recognized in the RegTech category, extends the value of FINBOA Payment Disputes solution by transforming dispute data into clear, actionable insights through an intuitive interface that eliminates time-consuming manual reporting and provides instant visibility into detailed views of dispute information. The solution enables stakeholders to quickly generate audit and board-ready reports while strengthening compliance by tracking Reg E deadlines, provisional credits, and resolution requirements. Advanced fraud analytics provide insights on emerging trends and high-risk merchants, empowering financial institutions to make more confident decisions, reduce risk, and optimize dispute management performance.

The 2026 Banking Tech Awards celebrate excellence and innovation in the use of IT in financial services worldwide. Winners will be announced on May 28, 2026 at a special awards event in New York.

About FINBOA

FINBOA provides intelligent process automation software to banks, credit unions and service providers to simplify compliance processing by eliminating manual systems. Solutions include FINBOA Payment Disputes, FINBOA BI-Disputes, FINBOA Exception Management, and FINBOA Treasury Onboarding. FINBOA delivers transformative software proven to enable institutional growth by reducing operational costs and risk. Headquartered in Houston, FINBOA is trusted to help over 500 financial institutions nationwide achieve targeted business outcomes and peace of mind. Learn more at www.finboa.com or follow us on LinkedIn and X social media platforms.

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