Blackberry (BB) Q4 2026 earnings summary

Executive summary

• Achieved double-digit top-line growth in Q4 and for the full fiscal year, with total FY26 revenue of $549.1 million, up 3% year-over-year, and Q4 revenue of $156.0 million, up 10% year-over-year, marking the eighth consecutive quarter of improving GAAP profitability and completing a multi-year turnaround.

• QNX delivered record revenue, exceeding guidance at $78.7 million in Q4 (up 20% year-over-year), and maintained Rule of 40 performance for both the quarter and year.

• Secure Communications returned to growth, with Q4 revenue of $72.5 million (up 8% year-over-year), strong demand for digital sovereignty solutions, and major government contract wins.

• Strong balance sheet with $432.4 million in cash and investments, or $232.4 million net cash.

• Achieved Rule of 40 for both QNX and Secure Communications in Q4 and FY26.

Financial highlights

• QNX FY26 revenue reached $268.0 million, up 14% year-over-year; Q4 revenue was $78.7 million, up 20% year-over-year.

• Secure Communications FY26 revenue was $258.9 million; Q4 revenue was $72.5 million, up 8% year-over-year.

• Q4 adjusted gross margin was 78.2% (up 5 pts); Q4 adjusted EBITDA was $36.1 million (up 71% year-over-year); full year adjusted EBITDA was $107.1 million (up 27%).

• Q4 adjusted EPS was $0.06; full year adjusted EPS was $0.16.

• Q4 cash generation exceeded $80 million, including operating cash flow and deferred proceeds.

Outlook and guidance

• FY27 revenue guidance: $584 million–$611 million (6%–11% growth); QNX revenue: $290 million–$307 million; Secure Communications: $270 million–$280 million.

• FY27 adjusted EBITDA expected between $110 million–$130 million; non-GAAP EPS projected at $0.15–$0.19.

• Full-year operating cash flow expected to reach ~$100 million, nearly doubling year-over-year.

• Licensing revenue expected to remain stable at ~$6 million per quarter.