BlackBerry Ltd

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SKU: BB-1 Category:

Description

BlackBerry has found a major growth driver in the form of its QNX software for the automotive industry in recent times. Despite the auto industry’s ongoing challenges, the company had its first $50 million-plus quarter since the start of the pandemic. The quarter’s revenue was $52 million, up 21% sequentially and 37% year over year. BlackBerry’s gross margin increased to 85%, and IoT ARR increased for the fourth quarter in a row to $93 million, up 11% year over year. The company’s increased profitability comes from development seats and professional services that customers use to integrate their QNX software into vehicles and other IoT endpoints. This change not only resulted in immediate revenue but also indicates that once the design is put into production, it will result in long-term business volume. Among key developments during the quarter, BlackBerry signed a multi-year agreement with Magna International to collaborate on various integrated Advanced Driver Assistance Systems (ADAS) solutions. Overall, they are well-positioned to make progress in the future, and thus, we maintain our ‘Hold’ rating on their stock with a revised target price.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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