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Blackberry (BB) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Sep 24, 2026 · Blackberry (BB) Q2 FY27 earnings results →

Q2 FY27 Revenue up 26% year over year to $163M · 21¢ of every $1 of revenue kept as net profit · operating margin 20.6%

Blackberry made $163M in Q2 FY27 (+26% Y/Y): QNX $80.3M, Secure Communication $60.9M, Licensing $22.1M. Operating margin 20.6%, net earnings $33.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 24, 2026.

Revenue$163M
Year over year+26%
Operating margin20.6%
Net earnings$33.9M
Operating cash flow$29.3M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $163.3M in Q2 FY27, up 26% year over year and up 7% from the previous quarter. QNX was the largest line at 49% of revenue. QNX added $17.2M year over year (up 27%), 51% of the total change.

Gross margin was 77.8%, up 3.3 points from Q2 FY26. Operating profit was $33.6M, a 20.6% margin (up 11.7 points year over year). Of the extra revenue versus Q2 FY26, 66% reached operating profit, above the 9% margin then. Operating expenses grew 10% against revenue growth of 26%. The fastest-growing cost line was Research & development (+30%). Net earnings were $33.9M, up 155% year over year. The effective tax rate was 3.7%.

Operating cash flow was $29.3M (up 651% year over year), 86% of net earnings. Non-cash charges added back $4.1M of depreciation and amortization and $7.5M of share-based compensation. Working capital and other items used $16.2M. After acquisition of property, plant and equipment ($1.2M), free cash flow as the company reports it was $28.1M.

Quarterly history

Blackberry revenue by quarterBlackberry revenue by quarter$142MQ4 FY25$122MQ1 FY26$130MQ2 FY26$142MQ3 FY26$156MQ4 FY26$153MQ1 FY27$163MQ2 FY27
Blackberry net earnings by quarterBlackberry net earnings by quarter−$7.4MQ4 FY25$1.9MQ1 FY26$13.3MQ2 FY26$13.7MQ3 FY26$24.3MQ4 FY26$8.5MQ1 FY27$33.9MQ2 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 FY2710-QSep 24, 2026$163M+26%20.6%$33.9M$29.3M
Q1 FY2710-QJun 25, 2026$153M+26%10.0%$8.5M$4.6M
Q4 FY2610-KApr 9, 2026$156M+10%14.7%$24.3M$46.1M
Q3 FY2610-QDec 19, 2025$142M-1%8.4%$13.7M$18.3M
Q2 FY2610-QSep 25, 2025$130M+3%8.9%$13.3M$3.9M
Q1 FY2610-QJun 25, 2025$122M-1%1.6%$1.9M−$18.0M
Q4 FY2510-KApr 2, 2025$142M-7%-4.4%−$7.4M$41.6M

Charts

Blackberry: revenue growth, year over year and quarter over quarterBlackberry: revenue growth, year over year and quarter over quarterY/YQ/Q-7%Q4 FY25-1%-14%Q1 FY26+3%+6%Q2 FY26-1%+9%Q3 FY26+10%+10%Q4 FY26+26%-2%Q1 FY27+26%+7%Q2 FY27
Latest (Q2 FY27): Y/Y +26%, Q/Q +7%.
Blackberry: where the cash came from (+) and went (−), TTM to Q2 FY27Blackberry: where the cash came from (+) and went (−), TTM to Q2 FY27Operating cash flow$98.3MOther investing−$64.2MBuybacks−$40.7MCash drawn (+) / kept (−)$10.3MCapital spending−$6.2MShares issued$2.6MExchange rates−$100K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Blackberry: profit against cash, quarter by quarterBlackberry: profit against cash, quarter by quarterNet incomeOperating cash flow−$10.5M$6.0MQ3 FY25−$7.4M$41.6MQ4 FY25$1.9M−$18.0MQ1 FY26$13.3M$3.9MQ2 FY26$13.7M$18.3MQ3 FY26$24.3M$46.1MQ4 FY26$8.5M$4.6MQ1 FY27$33.9M$29.3MQ2 FY27
Latest (Q2 FY27): Net income $33.9M, Operating cash flow $29.3M.
Blackberry: diluted shares by fiscal yearBlackberry: diluted shares by fiscal year561MFY21631MFY22639MFY23592MFY24591MFY25598MFY26
+6.5% since FY21: more shares outstanding (issuance, stock pay).
Blackberry in its industry: growth against margin (192 companies, SIC 7372)Blackberry in its industry: growth against margin (192 companies, SIC 7372)revenue growth, year over year →↑ operating marginmedian +12%median 0%MSFTORCLCRMADBEXYZINTUNOWSHOPCRWVSNPSPLTRADSKElectronic Arts Inc.TEAMSSNCCDNSRBLXTWLOSNOWTTWOCRWDGENDDOGHUBSVEEVDOCUOKTANETMDBNTNXPTCTYLDBXUDTPAYCMBLYESTCPCTYZETARBRKACIWBSYGWREPATHPCORTDCOCTVFIGKVYOCOURBILLBOXCVLTDUOLSAILGTMMANHLIMEAPPFCCCYOUTTANBLKBSGTLBALRMTENBWKPRGSFRSHAPPNBANDNAVNBRZEQTWONTSKASANCXMVERXRPDSPSCBLFSLYVRNSQLYSFROGMQINTANCNOEVCMNABLVIAALKTAVPTSPTPDGDYNXPERAMPLDDDSKILCERTCCSICMRCMKTWHUCKCRNCPDFSWEAVSOUNINSEXZODHIIIVLiveperson IncAIMRDNMYPSUPLDKLTRBLZELAWDRTTFBBAIMAPSCCLDEXFYRDVTSSTIEGANNTWKRCATSNALFDCTSVCOMCHXAEYEZDGEADBTWFCFAISPDUOTIDNPDYNQUBTZSPCROCFATNAWRESMSIINLXBLINMSGMGEGSEGGMYSZCXAIGXAIPARAAITXBKYICYABAPCXSPAIDSNYEXYNIDAIATDSIVDAVPRBSKKYUMEWAIFFAUIDGlobal Arena Holding, Inc.ATHRVIDAQXLLIVGUPYYFNGRSVMBTransparentBusiness, Inc.SWMRAMSTTransit Pro Tech Inc.PXLWDNKCDPLSGYGYBB (+26%, 21%)
Services-Prepackaged Software; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Blackberry

Founded in 1984, the Company equips, leading automakers, governments and regulated industries with secure, reliable software that drives productivity, resilience and mission-critical performance. Based in Waterloo, Ontario, the Company has two core divisions, QNX and Secure Communications, each addressing large and growing market opportunities. The Company’s QNX division develops safe, reliable software for embedded systems across technology-driven industries, including automotive, medical devices, robotics, and industrial automation. The world’s leading automotive OEMs and Tier 1 suppliers rely on QNX® technology, which enables more than 275 million vehicles.

In its own words, from its 10-K, filed Apr 9, 2026.

Blackberry against its Services-Prepackaged Software peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +26% against the peers' median +19%. Operating margin: 20.6% against the peers' median 20.5%.

CompanyQuarterRevenueY/YOp. margin
BB BlackberryQ2 FY27$163M+26%20.6%
MSFT MicrosoftQ1 FY27$92.3B+19%49.8%
ORCL OracleQ1 FY27$19.3B+30%34.8%
CRM SalesforceQ2 FY27$11.3B+11%20.5%
ADBE AdobeQ3 FY26$6.8B+13%34.8%
XYZ BlockQ3 2026$6.7B+10%6.4%
INTU IntuitQ4 FY26$4.4B+14%10.9%
NOW ServiceNowQ3 2026$4.1B+20%9.4%
SHOP ShopifyQ3 2026$3.7B+32%15.2%

Source: Blackberry 10-Q on SEC EDGAR · CIK 1070235 · Services-Prepackaged Software

13F: who owns BB and who is buying

Largest holders of BB (13F)Largest holders of BB (13F)Legal & General Group$481MVoya Investment Management LLC$353MT. Rowe Price Investment Manageme…$254MFirst Trust Advisors LP$242MVanguard Capital Management LLC$216MD. E. Shaw$168MPrice T Rowe Associates$162MHood River Capital Management LLC$148MTwo Sigma Investments, LP$136MJane Street Group, LLC$117M
Funds' net buying of BB by quarter (13F)Funds' net buying of BB by quarter (13F)−$16.0M2024-09$4.5M2024-12$75.2M2025-03−$7.6M2025-06−$37.5M2025-09−$45.7M2025-12−$31.6M2026-03$380M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on BB

History

Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results

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