BlackBerry (TSX:BB) nonetheless triggers eye-rolls in Canada at the moment, which makes it fascinating. If a inventory really belongs to yesterday, the story stops evolving. If the story retains altering, the market can get up late. The true query sits proper in entrance of us: Did BlackBerry inventory rebuild a enterprise that may develop, or did it simply discover a new coat of paint? Let’s have a look at what’s been taking place these days.
What’s taking place at the moment
In the present day’s BlackBerry sells software program, not telephones. It runs two engines: QNX, which powers embedded programs in automobiles and different essential gadgets, and Safe Communications, which sells safe messaging and endpoint administration to governments and controlled companies. It goals to sit down within the background of “issues that should not fail,” like automobile programs and mission-critical communications. That area of interest pays, nevertheless it calls for lengthy gross sales cycles and flawless supply.
During the last 12 months, BlackBerry inventory saved pushing its narrative away from client nostalgia and towards industrial software program. In February 2025, it closed the sale of its Cylance endpoint safety belongings to Arctic Wolf, which let it slim the main target and simplify the message. Buyers additionally watched the inventory regain some confidence, with shares down 24% within the final 12 months, however up 21% since 52-week lows. Momentum helps, however it may possibly vanish quick if execution slips.
Management and steering additionally formed the storyline. In November 2025, BlackBerry inventory appointed John Wall as president of the QNX division, a sign that administration desires QNX to hold extra of the expansion narrative. Earlier in 2025, headlines swung exhausting when the corporate warned about softer cybersecurity demand, then later raised its fiscal 2026 income outlook as spending held up higher than feared. These turns present an organization nonetheless looking for repeatable development.
Earnings help
The newest earnings report gave traders one thing concrete to chew on. For the third quarter of fiscal 2026, BlackBerry reported complete income of US$141.8 million, beating its personal steering. It additionally reported GAAP internet revenue of US$13.7 million and non-GAAP fundamental earnings per share (EPS) of US$0.05. Working money stream landed at US$17.9 million, and money and investments ended the quarter at about US$378 million. That mixture helps the declare that the corporate can fund itself with out fixed dilution over time.
The phase break up reveals the place the “new” BlackBerry inventory really lives. QNX delivered file quarterly income of US$68.7 million, up 10% 12 months over 12 months, whereas Safe Communications delivered US$67 million and reached US$216 million in annual recurring income. Safe Communications additionally reported dollar-based internet retention at 92%, which hints that some clients nonetheless trim utilization. Buyers ought to watch QNX design wins, automobile manufacturing ramps, and renewal developments, not slogans.
Steering and valuation now drive the buy-or-bye debate. BlackBerry inventory lifted the decrease finish of its fiscal 2026 income forecast to US$531 million, with the highest finish at US$541 million, and it guided This fall income to US$138 million to US$148 million. On valuation, it now trades at 97.8 instances earnings, with a 1.4 beta and 0.05 trailing EPS. That pricing asks for regular execution, not a one-quarter pop.
Backside line
So, is BlackBerry inventory yesterday’s information? It may very well be a purchase if you would like a small, unstable Canadian tech title with bettering profitability, actual money era, and a reputable QNX tailwind. It might additionally keep a “story inventory” if QNX development slows, if Safe Communications retains leaking demand, or if traders pay up for a comeback that by no means scales. Deal with it like a turnaround in progress, measurement it like a threat, and let the following few quarters show whether or not it earns a everlasting spot.