BlackBerry Ltd
Q4 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +8.73%.
Did BB Beat Earnings? Q4 2026 Results
BlackBerry delivered a decisive beat to close out fiscal 2026, with Q4 revenue climbing 8.4% year-over-year to $156.00 million against a consensus estimate of $144.30 million, while adjusted EPS of $0.06 topped the $0.04 consensus by 50.00%, marking the company's fourth consecutive quarter of beating EPS estimates. The standout driver was QNX, which posted record quarterly revenue of $78.70 million, up 20% year-over-year, with royalty backlog growing to approximately $950.00 million and fresh design wins at BMW Group and Volvo Cars reinforcing the segment's long-term visibility. Secure Communications also contributed meaningfully, returning to year-over-year growth at 8% and reaching $72.50 million in revenue, as expanding defense budgets and digital sovereignty demand accelerated adoption. For the full fiscal year, GAAP net income swung from a loss of $79.00 million to a gain of $53.20 million, underscoring the depth of the company's financial turnaround. Looking ahead, BlackBerry guided full-year FY2027 revenue of $584.00 million to $611.00 million, with adjusted EBITDA expected between $110.00 million and $130.00 million.
- QNX record quarterly revenue driven by 20% year-over-year growth
- Secure Communications returned to year-over-year revenue growth driven by digital sovereignty demand and expanding defence budgets
- Adjusted gross margin improved approximately 5 percentage points to 78.2%
- Eighth consecutive quarter of GAAP net income improvement
- Adjusted EBITDA increased 71% year-over-year to $36.1 million
- QNX royalty backlog grew to approximately $950 million
“Since our leadership transition in 2023, we have been focused on a clear goal: to transform BlackBerry into a profitable growth company. Our performance this quarter and over the past year demonstrates that we are delivering. QNX is now a Rule of 40 business, and a clear leader in automotive, embedded in more than 275 million vehicles worldwide, with growing momentum in robotics, physical AI, and other adjacent markets. Secure Communications has returned to growth, driven by a real and accelerating digital sovereignty tailwind. That growth is translating into stronger profitability and cash generation, which we are deploying with discipline.”
BlackBerry CEO, on the earnings call
Forward Guidance & Outlook
For Q1 FY2027: Total revenue of $132–$140 million (QNX $60–$64M, Secure Communications $66–$70M, Licensing ~$6M); Total company adjusted EBITDA of $14–$22 million; Non-GAAP basic EPS of $0.02–$0.03; Operating cash flow of breakeven to $10 million. For full fiscal year FY2027: Total revenue of $584–$611 million (QNX $290–$307M, Secure Communications $270–$280M, Licensing ~$24M); Total company adjusted EBITDA of $110–$130 million; Non-GAAP basic EPS of $0.15–$0.19; Operating cash flow of approximately $100 million.
BB YoY Financials
BB Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.