BlackBerry Limited (BB)

AWESOME Sideem 👉️ a business that at even a modest 10 times revenue multiple implies a market cap of $50 to $60 billion, or roughly $85 to $100 per share.

That's WAY MORE BULLISH than my $70 price target!

Add Malikie's $50M / year for 15 years once they get those IP Licensing Fees / Settlements coming into the BOTTOM line! 😺 JMO

Thanks for posting that. Makes me feel good, lol...

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I do see in the presentation on the bottom left of Page 13, it mentions under QNX: Backlog/design wins typically precede royalties. So it did get a mention at least.

I'd say they got a bargain. 😁

$70 million SPENT on share BUYBACKS 😺



Presentation 👉️ https://irp.cdn-website.com/586e2b1b/files/uploaded/BB+Q1+FY27+Earnings+Slides+FINAL.pdf

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A long read but quite interesting: https://brian561249.substack.com/p/blackberry-just-beat-every-estimate

Some things that caught my eye.

The current sell-side consensus on BlackBerry is built around one thing: a per-vehicle royalty collected at the point of production. An OEM builds a car with QNX inside, BlackBerry gets paid a modest fee, repeat. Simple, predictable, unremarkable. This is why the average analyst price target sits around $5 to $8. They are modeling a business that looks roughly like it did five years ago, denominated in a currency — the per-unit royalty — that is rapidly becoming obsolete.

150 million active QNX vehicles generating just 10 monetizable events per day — that single revenue stream produces $547 million annually. That roughly doubles BlackBerry's current total revenue from this one line alone. In the base case, 250 million vehicles generating 50 events per day, the annual revenue is $4.6 billion. In the bull case, 350 million vehicles at 200 events per day, the figure reaches $25.6 billion. The base case alone, combined with existing QNX royalty revenue and Secure Communications ARR, would put BlackBerry at $5 to $6 billion in total revenue at 70-plus percent gross margins — a business that at even a modest 10 times revenue multiple implies a market cap of $50 to $60 billion, or roughly $85 to $100 per share.

APPLE JUST MADE QNX MORE VALUABLE

On April 15, 2026, QNX announced a strategic collaboration with TKMS — one of the world's leading naval defense companies — to adopt QNX's General Embedded Development Platform across next-generation naval platforms, specifically supporting Canada's Patrol Submarine Project covering up to twelve new submarines.

NASA's core Flight System has formally added support for QNX SDP 8.0, joining a framework that has already powered more than 40 NASA missions including the Roman Space Telescope.

Published June 23, 2026 — two days before this article was published — a market analysis confirmed that the global military drone sector is projected to surpass $25 billion in 2026, with the broader defense drone industry expected to exceed $55 billion by 2032.

QNX's own defense platform page explicitly lists tactical drones, autonomous underwater vehicles, weapons platforms covering guidance, targeting, and launch control, and space-based ISR systems as active deployment categories.

The period from 2027 to 2028 is when the vehicle data layer's commercial trajectory becomes clear. If QNX's embedded data intelligence moves from cockpit-integrated deployments toward broad OEM data monetization contracts with disclosed economics, this is when per-instance revenue appears in reported numbers for the first time — the single catalyst most likely to produce a sudden and dramatic re-rating of the stock.

BlackBerry's FY2026 10-K confirms approximately 6,100 patents and applications worldwide. The thirteen patents documented below represent a small but strategically revealing cross-section of that portfolio — selected because together they reveal an architectural coherence that makes the ARM comparison not just apt but potentially conservative.

The Patents referenced in the article:
1) THE FOUNDATION LAYER — US PATENT 12,118,384 B2
"Scheduling of Threads for Clusters of Processors" — Granted October 15, 2024
2) THE COMMUNICATIONS FOUNDATION — US PATENT 12,095,701 B2
"Proximity Signaling and Procedure for LTE" — Granted September 17, 2024
3) THE DATA INTAKE LAYER — US PATENT 12,113,645 B2
"Method and System for Automotive Data Ingestion" — Granted October 8, 2024
4) THE API LAYER — US PATENT 12,597,296 B2
"Communicating Vehicle Signal Information Using Extended Identifiers" — Granted April 7, 2026
5) THE CONNECTIVITY LAYER — US PATENT 12,425,808 B2
"Asset Tracking Devices and Mobile Network Plan Selection" — Granted September 23, 2025
6) THE RESILIENCE LAYER — US PATENT 12,375,942 B2
"Providing Secondary Coverage in a Mobile Communication System" — Granted July 29, 2025
7) THE DEVICE LIFECYCLE LAYER — US PATENT 12,481,797 B2
"Internet-of-Things Devices and Methods of Controlling Power Thereto" — Granted November 25, 2025
8) THE SAFETY INTELLIGENCE LAYER — US PATENT 12,325,429 B2
"Method and System for Crowd Sourced Dangerous Driving Detection and Accident Mitigation" — Granted June 10, 2025
9) THE MARITIME LAYER — US PATENT 12,639,657 B2
"Ocean-Travel Configuration of Asset Tracking Devices" — Granted May 26, 2026
10) THE V2X INFRASTRUCTURE LAYER — US PATENT 12,288,463 B2
"Method and System for Traffic Management" — Granted April 29, 2025
11) THE PEDESTRIAN SAFETY LAYER — US PATENT 12,211,375 B2
"Method and Apparatus for Providing Road User Alerts" — Granted January 28, 2025
12) THE AUTONOMOUS COMMERCE LAYER — US PATENT 11,874,667 B2
"Methods and Systems for Autonomous Vehicle Refueling" — Granted January 16, 2024
13) THE SIMULATION LAYER — US PATENT 12,568,267 B2
"Method and System for Vehicle Data File Playback" — Granted March 3, 2026

$10.54 +$1.92 (+22.27%) on 30.4M volume..$BB 🤑

Hmmm, good point, also no confirmation on the $30M from Malikie. 10Q isn't out yet, last time I checked...

I didn't see any mention of the QNX Royalty backlog this time.

10.40 new HOD. You guys in at the 52wk lo of 3.12 CONGRTAS! You are locked into a winner! 👍️🤑

10 break! HOD 10.30 on 11.4M vol..$BB 😺

is it time to re-rate BB's P/S to 10 $12pps on Q1 2027 earnings report today?

Re-rating BlackBerry Limited (BB) to a price-to-sales (P/S) multiple of 8.5x to 10.5x—which mathematically aligns with a $10 to $12 price-per-share (pps) target based on today’s updated full-year revenue guidance—is fundamentally justifiable given the company's strong Q1 FY2027 earnings beat.The stock has already surged over 15% to $9.82 in early trading today. This momentum is heavily backed by an institutional pivot, highlighted by Stifel initiating coverage on June 24, 2026, with a Buy rating and a $12 price target, arguing that Wall Street has long misdefined BlackBerry's deep positioning in the physical AI stack.

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Another BEAT 👉️ AI Overview BlackBerry ($BB) initially guided for Q1 FY2027 licensing revenue of approximately $6 million.In its actual Q1 FY2027 earnings report, licensing revenue came in slightly ahead of expectations at $7.0 million, and Licensing segment adjusted EBITDA reached $6.2 million.

9.77 on 4.6M volume...$BB

Both QNX and Secure Communications achieved Rule of 40 performance 😺

9.59 @ 6:09 on 4M volume...$BB 😺

😺 • Repurchased 2.6 million shares for $10.0 million during the quarter.

Good buys @ avg pps 3.85 🤑

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Great harbinger of thinds to come 👉️ First fiscal quarter of positive operating cash flow in nine years, excluding the patent sale in FY24

“Our first quarter results demonstrate continued momentum following our transformation, as we advance our strategy to drive profitable growth. We exceeded expectations for revenue, profitability, and cash generation through solid performance by our world class QNX and Secure Communications teams,” said John J. Giamatteo, CEO, BlackBerry. “We are particularly encouraged by the multi-year growth opportunities ahead in software-defined vehicles, including significant content expansion with the Alloy Kore platform, as well as broad opportunities in the general embedded market, especially physical AI. We believe these opportunities significantly enhance QNX’s long-term potential. While we remain early in the fiscal year, the foundation of the business is stronger than it has been in years, and we continue to focus on disciplined execution and creating long-term value for our shareholders.”

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• Adjusted basic earnings per share was $0.04; GAAP basic earnings per share was $0.01.
• Total company revenue of $152.9 million increased 26% year-over-year.

Beat the EPS estimate of 0.03 with 0.04
Beat the Revenue estimate of $137.9M with $152.9M



We'll see how The Market likes this. It should. Didn't see if Malikie paid the $30M.

• Repurchased 2.6 million shares for $10.0 million during the quarter.
• Ended the first quarter with $422.9 million in cash and investments.

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Wow. I concur on loving the numbers released. I especially like reading this quote from John G. "While we remain early in the fiscal year, the foundation of the business is stronger than it has been in years, and we continue to focus on disciplined execution and creating long-term value for our shareholders."

Thanks Nelson 👉️ https://investorshub.advfn.com/stock-market/NYSE/blackberry-BB/stock-news/98808432/form-8-k-current-report

It's 8:05am. 9.25 on 2.3M volume...

My sincere apologies boyz. I had it initially as a premarket report but then somewhere came across article saying after market report.  But damn it was an EXCELLENT report!
GLTA  Revenue increased 26% year-over-year to approximately $153 million 
Adjusted EBITDA grew 144% year-over-year; GAAP operating income increased year-over-year to approximately $15 million 
Both QNX and Secure Communications achieved Rule of 401 performance, contributing to BlackBerry's fifth consecutive quarter of positive GAAP net income; Adjusted EPS exceeded expectations 
First fiscal quarter of positive operating cash flow in nine years, excluding the patent sale in FY24 

When the developers order a Developers' Kit they probably call BlackBerry QNX right after hanging up with the Nvidia order taker... 😺

AI Overview
A commercial BlackBerry QNX OS for Safety 8.0 developer seat license does not have a publicly standardized price tag, but industry data and developer disclosures indicate it typically costs approximately $15,000 per developer, per year. Because BlackBerry QNX operates on a business-to-business enterprise model, final commercial quotes are customized based on the size of the contract, production volume, and runtime royalties.

We might get a little surprise for Q1 results from Nvidia's THOR platforms. They've been "selling" for 10 months...that's a long time in high tech circles, JMO

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how long has Nvidia been selling THOR when was it's release date?

Nvidia has been actively selling hardware kits for its THOR platform for approximately 10 months, following its general availability release on August 25, 2025.

While the system was commercially launched in late 2025, its lifecycle spans a multi-year timeline from announcement to final production-car integration:

1. The Announcement (September 20, 2022)
Nvidia first officially unveiled the DRIVE Thor SoC architecture at its GTC conference on September 20, 2022. At this stage, the platform was a blueprint chip architecture intended to replace the previous-generation Drive Orin platform, boasting a massive 2,000 teraflops of performance.

2. Commercial Release & Open Orders (August 25, 2025)
Nvidia officially transitioned Thor from development to commercial availability on August 25, 2025, launching two primary hardware tracks simultaneously:
DRIVE AGX Thor Developer Kits: Opened for pre-orders with hardware shipments commencing in 👉️ September 2025 for automotive manufacturers.
Jetson AGX Thor: Released for general availability on the same day, delivering production modules and dev kits specifically tailored for physical AI, industrial automation, and humanoid robotics.

3. Production Vehicle Integration (2025–2026 Deployment)
Automotive manufacturers require lead time to integrate the physical Developer Kits into real vehicles. Initial electric vehicle brands—headlined by Geely's luxury EV division, Zeekr—began embedding their in-house, Thor-based intelligent driving domain controllers into consumer vehicle fleets starting in early 2025 and ramping through 2026.

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QNX is a BlackBerry Division



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Maybe we can get a ⚡️ Perfect Storm ⚡️ of good news from all quarters...



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Earnings call will happen an hour and a half before open. 8:00am ET.
Then at 10:00am the Annual Shareholders' Meeting. Heavy pressure.
I'll be up early watching the premarket action. Hopefully it's bullish! 🤑
GLTA! GO BlackBerry!



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Right. Typically. But with Nvidia acting as a "distributor" for QNX nothing is typical, lol...JMO

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Their 1st Quarter is typically their weakest but it would be a nice surprise if they crush it.

We need a 37% bump (big bump) to hit teens. 13-9.5/9.5x100. Need to CRUSH the estimates! GO $BB

9.49, up .87 in AH...$BB

You're welcome, Sideem, 9.42 hit in AH topping the HOD 🤑

Beat the estimates, acknowledge the receipt of $30 million from Malikie announce some upbeat news on Alloy Kore, IVY, TKMS perhaps and another share buyback "adjustment"...then a positive upgrade on FY 2027 guidance? 😺 They've got to beat the estimates. CEO seems to be of the mindset, "under promise over deliver." I like it.



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Thanks Helter. I'm glad too that the price has held steady. Look forward to seeing what they announce.

8am ET I believe. Here it is 👉️ AI Overview BlackBerry's ($BB) fiscal first-quarter 2027 earnings conference call is scheduled for Thursday, June 25, 2026, at 8:00 a.m. ET. On the same day, BlackBerry will also hold its virtual Annual General Meeting of Shareholders at 10:00 a.m. ET.

$BB 9.25 in overtime 😺

Oh shoot. Was thinking they were doing a morning report. Morning or afternoon works as long as it's a good report.

Just BEAT it! 🔥😃 SMOKE IT DAN!




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Well boyz. Tomorrow at 4 PM is HUGE. A good report keeps the momentum goingFingers crossed
GLTA

And the BEAT goes on... 😺

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Don’t be too hard on yourself mate. We all go thru  the Monday morning quarterbacking    You have to believe with Elon its a longterm win
GLTU

My one bright spot again. Never should’ve wasted my $ in spcx. I did well in the meme stocks a few years back and I got emotional, can’t do that. 
BB$

What did CIBC cite in BB's $10.0 target raise?

CIBC cited a clean first-quarter print, constructive forward guidance, and improving fundamentals for BlackBerry, with a path toward profitable growth across QNX and Secure Communications.

It also pointed to:

Better visibility after management’s comments at CIBC’s Technology & Innovation Conference
Backlog growth and QNX execution as key drivers
Potential wins such as Alloy Kore and GEM, which CIBC said could add meaningfully to backlog
Defense spending increases as a tailwind for Secure Communications
Positive operating leverage and higher EBITDA margins as revenue scales
CIBC said the new US$10.00 target was based on its fiscal 2028 estimates, including a higher QNX EV/sales multiple of 10x from 8x and an EBITDA multiple of 42x from 35x.

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https://ca.finance.yahoo.com/news/blackberry-bb-suffers-larger-drop-215004008.html

LOL hopefully it's another mid-morning drop before it rises back later in the day. Fingers crossed.

8.38!?  BB don’t make me jump!Lol.  Lets goooooo!!!

GLTA

Appreciate the recap. It does make sense that there would be profit taking. I do like that the price is staying at the $8 - $10 range and as the article states, the fundamentals of BB haven't changed.

Good recap skinny boyz
https://stocks.apple.com/AjBHeoiAvQCuS5E1f2ZH0Ug

GLTA

AI Overview 👉️ The contract size for the BlackBerry QNX and thyssenkrupp Marine Systems (TKMS) partnership is conceptually massive, but a multi-tiered defense bid rather than a single payout. While the exact software-licensing fees paid directly by TKMS to BlackBerry remain confidential, the partnership positions QNX at the center of multi-billion-dollar global naval programs.

While the exact financial terms of the TKMS and BlackBerry QNX contract have not been publicly disclosed, embedded software defense contracts of this multi-year scope typically land a ballpark figure of $10 million to $50 million+ in foundational licensing, engineering services, and long-term support fees.



The overall revenue from the partnership is scalable because QNX utilizes a "license + royalty" pricing model, which means the ultimate contract value will depend on two distinct phases:

Phase 1: Upfront Engineering & Base Licensing (Est. $10M – $20M)

Development Seats: TKMS must purchase specialized QNX developer licenses and tools for their software engineers.
Custom Integration: A substantial fee is charged for adapting the General Embedded Development Platform to specific naval combat, sonar, or propulsion systems.
Long-Term Support: Defense platforms have decades-long lifecycles, meaning a portion of the contract covers guaranteed security patches and support over 10–20 years.

Phase 2: Production Royalty Multipliers (Variable Upward Upside)

Per-Submarine Royalties: Just like QNX earns a royalty fee for every car on the road, they command production royalties for every naval vessel built using their architecture.
The Scale of the Program: Submarine programs are massive capital investments. For context, TKMS handles multi-billion dollar fleets (such as Canada’s upcoming submarine replacement program and Germany's Type 212A modernizations).

Even a tiny fractional percentage allocated for core software operating systems across an entire fleet adds millions to BlackBerry's record $950M+ royalty backlog.

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5 mins 1.42M traded 317k @ ask 271k @ bid and 832k in between, unknown.

~$13 million dollars. Big Boyz Tradin'. Speaking of...
Musk was up $150,000,000,000 today (+$30 on ~5B $SPCX shares he owns) 🤑😵



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