BB
A rare little glow-up
BlackBerry has spent plenty of time being the punchline in the smartphone graveyard, but this piece is all about the company’s software-era makeover. The stock is getting upgraded to Buy ahead of Q2 earnings, with the bull case hanging on better growth trends, a strong Q1 showing, and QNX acting like the engine that refuses to stall.
Why QNX keeps stealing the show
The big selling point here is BlackBerry’s QNX business, which reportedly posted record developer license revenue and has nearly $1 billion in royalty backlog. That’s the kind of detail investors love because it suggests revenue visibility, not just vibes and hope.
The article also points to BlackBerry’s forecast for about $100 million in FY27 operating cash flow. For a company that used to be defined by hardware nostalgia, that’s a very different conversation — and one that can actually matter to valuation if the turnaround keeps sticking.
The stuff investors should watch
A few numbers are doing the heavy lifting here:
- BlackBerry says it had $423 million in cash and investments at the end of Q1
- QNX is still the core growth engine, not just a side hustle
- The upgrade comes ahead of Q2 earnings, which means the market will probably want more proof and less PowerPoint
Big picture: this isn’t a “BlackBerry is back” victory lap. But it is a reminder that sometimes the market starts paying attention again when a company stops talking about its past and gives investors a believable future.