BlackBerry Pivots to Software; QNX Division Reports 27% Revenue Growth
What happened
BlackBerry Limited is pivoting from a smartphone manufacturer to a software company, a shift prompted by market share erosion caused by Apple Inc. The company's QNX automotive software division is growing rapidly. In Q2, QNX generated $80.3 million in revenue, marking 27% year-over-year growth, and increased adjusted EBITDA by 41% to $29 million. BlackBerry expects QNX to generate between $315 million in revenue.
From insidermonkey.com
Why it matters
The transformation of BlackBerry Limited is centered on the growth of its QNX division. QNX is increasingly important to the company's valuation, which relies on continued growth in the software sector. The company forecasts adjusted EBITDA between $141 million and $158 million for fiscal 2027.
From insidermonkey.com
Who's involved
- BlackBerryThe company pivoting from a smartphone maker to a software business.
- QNXThe core, revenue-generating, and integrated software division of BlackBerry.
- Apple Inc.The multinational technology company whose market share erosion forced BlackBerry's pivot.
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The entities involved
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BlackBerry
enterprise software and the Internet of things company
Nothing else this week.
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QNX
Unix-like, real-time, embedded operating system
Nothing else this week.
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Apple Inc.
American multinational technology company based in Cupertino, California