Stronger Than Expected Total Revenue
Total company revenue for the quarter was stronger than expected, beating guidance at $121.7 million.
Significant Growth in Adjusted EBITDA
Adjusted EBITDA grew over 55% year over year, beating the top end of the guidance range at $16.4 million.
QNX Revenue Growth
QNX revenue for Q1 beat the upper end of the guidance range at $57.5 million, representing 8% year over year growth.
Successful Share Buyback Program
A $100 million share buyback program was announced, with $10 million worth of shares repurchased during the quarter.
Strong Secure Communications Division Performance
Secure communications division exceeded the top end of guidance with quarterly revenue of $59.5 million.
Positive Developments in UEM
Secured deals for UEM with several high-profile customers, including US Special Operations Command and US Air Force.