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Blackberry cash flow, quarter by quarter

Latest: Q2 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$28.1M in Q2 FY27 · $92.1M over twelve months

Operating cash flow$29.3M
Capital spending−$1.2M
Free cash flow+$28.1M
Cash / net income0.9×
Cash conversion cycle53 days

Analysis

In Q2 FY27, Blackberry generated $29.3M of operating cash flow and spent $1.2M on capital projects, leaving free cash flow of $28.1M. That is $25.0M more than in Q2 FY26 ($3.1M).

Over the twelve months to Aug 31, 2026, operating cash flow was $98.3M; the largest uses were other investing ($64.2M), buybacks ($40.7M), capital spending ($6.2M); besides operations, cash came from shares issued ($2.6M); the cash balance fell by $10.3M.

Operating cash flow was $29.3M against net income of $33.9M — 0.9× profit, less cash than reported earnings, worth checking against working capital. The largest differences: receivables +$19.6M, prepaid and other assets −$16.1M, income taxes payable −$8.5M.

Its cash conversion cycle was 53 days (receivables 85 + inventory 0 − payables 32).

Free cash flow

Blackberry: free cash flow by quarterBlackberry: free cash flow by quarter$5.2MQ3 FY25$41.2MQ4 FY25−$18.9MQ1 FY26$3.1MQ2 FY26$17.4MQ3 FY26$44.9MQ4 FY26$1.7MQ1 FY27$28.1MQ2 FY27
Operating cash flow less capital spending.
Blackberry: operating cash flow against capital spendingBlackberry: operating cash flow against capital spendingOperating cash flowCapital spending$6.0M$800KQ3 FY25$41.6M$400KQ4 FY25−$18.0M$900KQ1 FY26$3.9M$800KQ2 FY26$18.3M$900KQ3 FY26$46.1M$1.2MQ4 FY26$4.6M$2.9MQ1 FY27$29.3M$1.2MQ2 FY27
Latest (Q2 FY27): Operating cash flow $29.3M, Capital spending $1.2M.

Capital allocation, year by year

Blackberry: where the cash came from (up) and went (down), by fiscal yearBlackberry: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksFY22: Operating cash flow −$28.0MFY22: Shares issued $10.0MFY22: Capital spending −$8.0M$10.0MFY22FY23: Operating cash flow −$262MFY23: Net borrowing −$100KFY23: Shares issued $6.1MFY23: Asset sales $17.1MFY23: Capital spending −$7.3M$23.2MFY23FY24: Operating cash flow −$3.5MFY24: Net borrowing −$171MFY24: Shares issued $5.9MFY24: Capital spending −$7.1M$5.9MFY24FY25: Operating cash flow $16.5MFY25: Shares issued $3.1MFY25: Capital spending −$3.1M$19.6MFY25FY26: Operating cash flow $50.3MFY26: Shares issued $2.5MFY26: Capital spending −$3.8MFY26: Buybacks −$60.7M$52.8MFY26
Over these 5 years operating cash flow totalled −$227M; the largest uses were operating cash flow ($294M) and net borrowing ($171M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$378M
Debt$197M
Net cash$180M

Blackberry funds itself: free cash flow was $92.1M over the last twelve months, and $378M of cash and investments stands against $197M of debt.

Where the cash came from and went

Blackberry: sources (+) and uses (−) of cash, Q2 FY27Blackberry: sources (+) and uses (−) of cash, Q2 FY27Operating cash flow$29.3MOther investing−$18.5MCash drawn (+) / kept (−)−$9.3MCapital spending−$1.2MExchange rates−$300K
Blackberry: sources (+) and uses (−) of cash, TTM to Q2 FY27Blackberry: sources (+) and uses (−) of cash, 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 profit to cash

Blackberry: net income to operating cash flow, Q2 FY27Blackberry: net income to operating cash flow, Q2 FY27Net income$33.9MDepreciation & amortization$4.1MStock-based pay$7.5MImpairments$700KOther non-cash$1.4MReceivables$19.6MPayables−$7.2MAccrued liabilities$4.4MDeferred revenue−$5.5MPrepaid and other assets−$16.1MIncome taxes payable−$8.5MOperating cash flow$29.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY2785—3253
Q1 FY2795—3065
Q4 FY2688—2564
Q3 FY2688—2563
Q2 FY2690—1378
Q1 FY26115—5362
Q4 FY25106—4858
Q3 FY2599—2375

Every quarter

QuarterOperating cash flowCapital spendingBuybacksShares issuedCash drawn (+) / kept (−)Free cash flow
Q2 FY27$29.3M−$1.2M——−$9.3M$28.1M
Q1 FY27$4.6M−$2.9M−$10.0M$1.3M$17.9M$1.7M
Q4 FY26$46.1M−$1.2M−$26.7M—−$4.6M$44.9M
Q3 FY26$18.3M−$900K−$4.0M$1.3M$6.3M$17.4M
Q2 FY26$3.9M−$800K−$20.0M—$1.9M$3.1M
Q1 FY26−$18.0M−$900K−$10.0M$1.2M−$12.2M−$18.9M
Q4 FY25$41.6M−$400K——−$80.1M$41.2M
Q3 FY25$6.0M−$800K—$1.6M−$12.5M$5.2M

Blackberry: income statement and cash flow

Blackberry, Q2 FY27: revenue $163M (+26% year over year), operating margin 20.6%. The chart follows the revenue to costs, profit and cash.

Blackberry: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.