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BlackBerry Limited

BB

BlackBerry Limited • NYSE
$4.08 ▲ 0.37% (+0.01)
Market Cap $2.42 B
52w High $6.24
52w Low $2.51
Dividend Yield 0%
P/E 102.13
Volume 3.32M
Outstanding Shares 593.58M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $129.6M ▲ $85.1M ▼ $13.3M ▲ 10.262% ▲ $0.02 ▲ $18M ▲
Q1-2026 $121.7M ▼ $88.3M ▼ $1.9M ▲ 1.561% ▲ $0.003 ▲ $13.5M ▲
Q4-2025 $143.9M ▲ $112.1M ▲ $-7M ▲ -4.864% ▲ $-0.012 ▲ $9.2M ▼
Q3-2025 $143M ▼ $93M ▼ $-11M ▲ -7.692% ▲ $-0.019 ▲ $33M ▲
Q2-2025 $145M $115M $-19M -13.103% $-0.032 $-8.2M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $304.7M ▼ $1.09B ▼ $0 ▼ $0 ▼
Q1-2026 $306.6M ▼ $1.21B ▼ $485.301M ▼ $725.1M ▲
Q4-2025 $337.8M ▲ $1.296B ▼ $575.7M ▼ $719.9M ▼
Q3-2025 $220M ▲ $1.309B ▲ $584M ▲ $725M ▼
Q2-2025 $211M $1.299B $567M $732M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $13.3M ▲ $3.9M ▲ $14.3M ▼ $-20M ▼ $-1.9M ▼ $4.8M ▲
Q1-2026 $1.9M ▲ $-18M ▼ $38.5M ▼ $-8.8M ▼ $12.2M ▼ $-18M ▼
Q4-2025 $-7M ▲ $41.5M ▲ $38.7M ▲ $100K ▼ $80.3M ▲ $40.4M ▲
Q3-2025 $-11.013M ▲ $3M ▲ $7M ▼ $2M ▲ $12M ▼ $1M ▲
Q2-2025 $-19M $-13M $41M $0 $28M $-18M

Revenue by Products

Product Q3-2025Q4-2025Q1-2026Q2-2026
Licensing and Other
Licensing and Other
 $10.00M ▲$10.00M ▲$0 ▼$10.00M ▲
QNX
QNX
 $0 ▲$0 ▲$60.00M ▲$60.00M ▲
Secure Communication
Secure Communication
 $70.00M ▲$30.00M ▼$60.00M ▲$60.00M ▲
IoT
IoT
 $60.00M ▲$70.00M ▲$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement BlackBerry’s income statement shows a company still in transition. Revenue has been choppy and generally trending down from earlier years, which suggests the business has not yet found a strong, consistent growth engine. On the positive side, gross profitability remains solid, and operating results have improved dramatically from deep losses to roughly break-even in recent years. However, bottom-line net income is still negative, meaning the company is not yet generating reliable profits for shareholders and remains sensitive to any slowdown in demand or execution missteps.

Balance Sheet

Balance Sheet The balance sheet looks cleaner but smaller than a few years ago. Total assets and equity have gradually come down, which reflects a leaner company after years of restructuring. Debt has been reduced meaningfully, which lowers financial risk, and cash levels are broadly in line with debt, suggesting no immediate balance sheet stress. Overall, BlackBerry appears more conservatively financed than before, but with less asset backing and a thinner equity cushion than in the past, leaving less room for large strategic mistakes.

Cash Flow

Cash Flow Cash generation has been fragile but improving. After a period of cash burn, operating cash flow has recently moved back to slightly positive, and free cash flow has hovered around breakeven with modest swings. Capital spending is very light, which helps support free cash flow but also means growth depends more on software development than on heavy investment. The company is not producing strong surplus cash yet, but it has moved away from the more worrying outflows seen a few years ago.

Competitive Edge

Competitive Edge BlackBerry now competes mainly in two areas: embedded software for connected devices and cybersecurity. In automotive and other safety-critical markets, its QNX platform has a strong foothold, high switching costs, and a reputation for reliability and safety, which together create a defensible niche. In cybersecurity, it faces much tougher competition from larger, faster-growing rivals, and customers can switch more easily. The company benefits from a long-standing security brand and a sizable patent portfolio, but its overall moat is narrower in cybersecurity than in automotive, and its results remain tied in part to the health of the auto industry.

Innovation and R&D

Innovation and R&D Innovation is now the core of BlackBerry’s strategy. The QNX platform continues to evolve to serve more complex, software-defined vehicles and is being pushed into adjacent areas like industrial systems and medical devices. BlackBerry IVY, developed with Amazon Web Services, aims to turn vehicle data into a software and services opportunity, though it is still early in its commercial rollout. On the security side, the Cylance AI engine and newer generative AI tools show ongoing commitment to advanced, predictive cybersecurity. The key question is not whether BlackBerry is innovating—it clearly is—but how quickly these efforts translate into broad adoption and durable, growing revenue streams.

Summary

BlackBerry today is a reshaped software company with a credible niche in automotive and mission-critical systems, plus a more challenged position in cybersecurity. Financially, it has moved from heavy losses and cash burn toward breakeven, with a cleaner and less leveraged balance sheet, but it has not yet established consistent profitability or strong cash generation. Its future hinges on successfully scaling QNX across industries, turning IVY into a meaningful data platform business, and regaining momentum in cybersecurity with its AI-driven tools. This creates a mix of potential upside from successful execution and ongoing risk if revenue remains uneven or competition outpaces its innovation.

NEWS

November 17, 2025 · 5:00 PM UTC

BlackBerry Appoints John Wall as President of QNX Division

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November 12, 2025 · 8:00 PM UTC

BlackBerry Expands Partnership with Global Affairs Canada & Rogers Cybersecure Catalyst for Women in Cyber Program in Malaysia

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November 5, 2025 · 5:05 PM UTC

BlackBerry to Participate in Upcoming Investor Events

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October 28, 2025 · 9:00 AM UTC

Government of Canada Expands Investment in Advanced Cybersecurity Training for ASEAN Members

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October 27, 2025 · 6:45 AM UTC

BlackBerry and Universiti Kebangsaan Malaysia Announce Strategic Partnership to Advance Malaysia's Future Cyber-Defenders and Embedded Software Talent

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