BBMEDIUM SIGNALOPERATIONAL10-K

BlackBerry has reorganized its business narrative around two focused divisions (QNX and Secure Communications) while demonstrating improved financial positioning through reduced liabilities.

The company appears to be sharpening its strategic focus by clearly delineating its automotive software capabilities (QNX) from its government security solutions, suggesting a more targeted approach to capturing market opportunities in these distinct verticals. The updated language emphasizes growth metrics like enabling 275 million vehicles (up from 255 million), indicating expanding market penetration in the automotive sector.

Comparing 2026-04-09 vs 2025-04-02View on EDGAR →
FINANCIAL ANALYSIS

BlackBerry's financial position showed improvement with total liabilities declining 13.3% to $499.2M and current liabilities falling 22.1% to $268.1M, suggesting better debt management or settlement of obligations. However, this was partially offset by a 14.5% increase in SG&A expenses to $340.0M and a 10.2% decline in accounts receivable to $156.0M. The overall picture suggests a company managing its cost structure while investing in operations, though the receivables decline may indicate softer near-term revenue collection.

FINANCIAL STATEMENT CHANGES
Capital Expenditure
Cash Flow
+22.6%
$3.1M$3.8M

Capex increased 22.6% — ongoing investment in capacity or infrastructure for future growth.

Current Liabilities
Balance Sheet
-22.1%
$344.3M$268.1M

Current liabilities reduced — improved short-term financial position and working capital health.

SG&A Expense
P&L
+14.5%
$297.0M$340.0M

SG&A increased modestly — likely reflects growth-related hiring or sales expansion investment.

Total Liabilities
Balance Sheet
-13.3%
$575.7M$499.2M

Liabilities reduced 13.3% — deleveraging improves balance sheet strength and financial flexibility.

Accounts Receivable
Balance Sheet
-10.2%
$173.7M$156.0M

Receivables declined — improved collection efficiency or conservative revenue recognition.

LANGUAGE CHANGES
NEW — 2026-04-09
PRIOR — 2025-04-02
ADDED
The registrant had 587,882,400 common shares issued and outstanding as of April 6, 2026.
BUSINESS The Company: A heritage of innovation 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.
The Company s Secure Communications division delivers operational resiliency with a government-grade portfolio of secure, certified solutions for mobile fortification, critical communications and crisis management.
BlackBerry UK Limited England and Wales Secusmart GmbH Duesseldorf, Germany BlackBerry Singapore Pte.
Limited Singapore Industry Background QNX At an increasing rate, people and systems are being intelligently connected at the edge.
This evolution is driven by the proliferation of Internet connected devices, advances in compute power, and increasingly sophisticated software capable of enabling real time, contextual decision making directly on the device.
A wide range of industries are undergoing profound transformation as intelligent edge systems unlock new levels of capability, autonomy, and operational efficiency.
REMOVED
The registrant had 596,233,826 shares of common shares issued and outstanding as of March 28, 2025.
BUSINESS The Company: A heritage of innovation Founded in 1984, the Company is a leading provider of intelligent software and services to enterprises, governments and leading OEMs around the world.
Its products enable more than 255 million vehicles and secure 17 of the G20 governments.
Based in Waterloo, Ontario, the Company has two core divisions, each addressing large and growing market opportunities.
The Company s QNX division is a leader in embedded software where the Company believes it is the world s leading automotive foundational software supplier.
Its customers include leading automotive OEMs and Tier 1 suppliers that use its products in vehicles, as well as top medical OEMs.
The Company s solutions are implemented into all the top 10 automotive OEMs, top 7 Tier 1 suppliers, 24 of the 25 top EV OEMs, and 9 of the 10 top medical OEMs.
The Company s Secure Communications division delivers operational resiliency with a comprehensive, highly secure, and extensively certified product portfolio for mobile fortification, mission-critical communications and critical events management.
Cylance Sale On February 3, 2025, the Company completed the sale of its Cylance endpoint security assets and related liabilities to Arctic Wolf Network, Inc.
( Arctic Wolf ) for $160.0 million of cash, subject to certain adjustments of approximately $39.1 million, and 5.5 million common shares of Arctic Wolf.
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