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Feb 28
BlackBerry Q4 2025 Earnings Report
BlackBerry beat revenue, EPS, and cash flow expectations across all business segments.
Key Takeaways
BlackBerry posted a strong Q4, exceeding guidance across revenue, adjusted EPS, and operating cash flow, supported by strong performance from QNX, Secure Communications, and Licensing divisions. Despite a GAAP net loss, the company reported positive adjusted net income and EPS.
Total revenue reached $141,700,000, beating the high end of guidance.
Adjusted EPS came in at $0.03, ahead of expectations.
GAAP net loss was $7,400,000 but adjusted net income was $17,700,000.
Sale of Cylance to Arctic Wolf improved cash position and balance sheet.
BlackBerry
BlackBerry
BlackBerry Revenue by Segment
Revenue by Segment
QNX (IoT) Revenue
CapyFin.comSecure Comms Revenue
CapyFin.comLicensing Revenue
CapyFin.com Forward Guidance
BlackBerry expects a decline in Q1 FY26 revenue, reflecting seasonality and transition post-Cylance divestiture, but guides for profitability and growth in QNX and Licensing for the full year.
Positive Outlook
- QNX full-year revenue expected to grow to $250M–$270M
- Full-year adjusted EBITDA guided between $69M–$84M
- Licensing expected to contribute $24M in FY26
- Secure Communications EBITDA to reach up to $44M
- Operating cash flow projected at $35M for FY26
Challenges Ahead
- Q1 FY26 revenue expected to decline to $107M–$115M
- Q1 adjusted EBITDA guidance ranges from breakeven to $7M
- Q1 operating cash flow projected negative: -$20M to -$30M
- Non-GAAP EPS for Q1 expected between ($0.01) and breakeven
- Secure Communications revenue slightly down from prior quarter