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Called to Account: BlackBerry violates SEC rules with use of non-standard metrics

BlackBerry Ltd. reported fiscal first-quarter earnings on Wednesday that led with and were dominated by non-standard numbers, putting the company at risk of an enforcement action from the U.S. Securities and Exchange Commission.

The headline on the earnings release highlights the cybersecurity company’s non-GAAP revenue, or revenue that does not conform with Generally Accepted Accounting Principles, a metric the regulator does not allow.

It then proceeds to list four non-GAAP measures, including other non-GAAP revenue numbers, along with their corresponding GAAP measures, but the exclusive focus on non-GAAP over standard numbers is also not allowed by the SEC.

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