The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Dan Levy - Barclays Services Corp - Analyst
: Great. Okay. Okay. So late in the day, I want this to be more organic. But actually, I just want to start and I like to sort of go high level, but there was
something interesting on that last slide. Just go back a slide.
So help us understand on backlog because that last bar there you're saying you're at nearly 4 times your '25 revenue. Backlog means different
things to different people, and I think we've in auto become a little skeptical on what backlog actually means, and what does that number mean?
Question: Dan Levy - Barclays Services Corp - Analyst
: Okay, that's helpful. All right, so maybe just high level, and I think you've sort of framed this, but I think what's always helpful for folks in auto is we
hear a lot about software in the vehicles. Can you just maybe conceptually, and I think I don't know if it was this deck, maybe it was on the deck,
lay out sort of the layers in an automotive software stack where you sit, which is more the OS level, and why that level, that layer of the stack is sort
of secure, and there's really a more limited base of competition.
Question: Dan Levy - Barclays Services Corp - Analyst
: And the customer base. So I think we've known that you're talking about being embedded in ECUs. There is the OEM itself, but then you also have
Tier 1s, many Tier 1s that are responsible for the ECUs. How do you look at the customer base?
Question: Dan Levy - Barclays Services Corp - Analyst
: And the OEM customer base, because I think you've seen your list, your legacy of examples we always say with like with Rivian, right, and I think
we've seen efforts really vary by OEM, right? Like a company like Rivian is really taking much more ownership of the underlying. So how do the
efforts vary across those automakers?
Question: Dan Levy - Barclays Services Corp - Analyst
: Maybe you could just flip back a couple of slides. I want to sort of unpack more of these trends here. You could go forward one. That, yeah, that,
okay, so, and then I think you also had an uptake slide saying you're not playing distributed, but these two centralized, and okay, so we've heard
of all of this before, right? Like, and this has been every automaker that we look at says they want to have a network architecture, they want to
have ECU consolidation and going to domain controllers to centralize compute to zone controllers.
But at the same time, we know that like Ford literally scrapped, they had FNV4, they scrapped that. Others have tried to do these fully network
architecture, and they've failed. There's questions around what happens with VW Rivian, does that succeed or not?
Maybe just zoom out. Where are we on the uptake of the software-defined vehicle? Why do you think this hasn't maybe played out as advertised?
Is it related to EVs? Is all this linked to EVs? Maybe just help paint the picture. Am I wrong? Is it actually playing out?
Question: Dan Levy - Barclays Services Corp - Analyst
: As long as we have you here. There's a lot of interesting things here.
Question: Dan Levy - Barclays Services Corp - Analyst
: Can you help us differentiate two areas of why your customer base is or is not this set of partners? A, Tesla. What is Tesla doing that's so unique,
which I, as I understand, Tesla is not a customer, and B, where are you in China, where I think people sort of cast China as the leader in the global
leader in uptake of software-defined vehicle, just a very different set of dynamics and maybe not having the same set of challenges that we've seen
in the West?
Question: Dan Levy - Barclays Services Corp - Analyst
: This is actually what they tell me when I, when I'm, I'll maybe -- I know we're like at near time here, but I would maybe squeeze in one more, and
it's just a question of SOC providers. So you've talked about Nvidia, Qualcomm strategic partners, how does SOC provider play a role at all, if at all,
in sort of your uptake in vehicles?
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NOVEMBER 19, 2025 / 8:50PM, BB.TO - BlackBerry Ltd at Barclays Global Automotive and Mobility Tech
Conference
Question: Dan Levy - Barclays Services Corp - Analyst
: Okay, great. We'll leave it there. Thank you.
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