I am loving Eric Lai’s latest writeup on BlackBerry’s competitors on BlackBerry’s official blogs. After years of “taking their lumps” from upstart Good Technologies and MobileIron pointing towards “BlackBerry’s eminent demise” we now see some signs of BlackBerry finally fighting back. I am not sure if it was BlackBerry just being “Canadian” but they refused to fight back directly… Until now!
Eric does a masterful job of laying out their competitors financial statements from Good technolgies IPO filing and MobileIron’s filings and highlighting how bad things are at these companies. Both Good and MobileIron are operating at losses every quarter that amount to over 30% of revenue. At the current burn rate Good will be out of business by the end of September if their IPO filing does not get executed before that. Good had a whopping $118 million net loss on $160 million in revenue. That is just plain ridiculous for a company that claims it has a better chance of sticking around than BlackBerry.
MobileIron has been public for awhile and they reported a net loss of $32.5 million on $105 million of revenue last year. On top of that MobileIron continues to push off their IPO due to these difficulties going public when you are reporting such high losses.
Either way its nice to see BlackBerry fighting back. Kudos to Eric Lai for spearing the effort!