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Blackberry Financials

BB
Source SEC Filings (10-K/10-Q) Updated Feb 28, 2026 Currency USD FYE February

This page shows Blackberry (BB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI BB FY2026

Cost-base reset turned a high-gross-margin business into positive earnings and cash flow without needing much revenue growth.

Between FY2025 and FY2026, revenue was nearly flat, moving from $534.9M to $549.1M. Yet operating income climbed to $48.3M and free cash flow to $46.5M, a pattern consistent with a leaner expense base and better cash conversion because profit and cash improved together rather than diverging.

The business now keeps an unusually large share of sales as gross profit: gross margin reached 76.2% in FY2026 versus 64.6% in FY2024. Because SG&A and other overhead are absorbing less of that margin, the company no longer needs FY2024-level revenue just to stay near break-even.

The balance sheet is more flexible than the loss history implies, with $274.7M of cash against $196.5M of long-term debt. Still, goodwill-heavy assets matter: goodwill is about 38.5% of total assets, so a meaningful part of reported equity cannot fund operations the way cash can.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 36 / 100
Financial Profile 36/100

Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Blackberry's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
33

Blackberry has an operating margin of 8.8%, meaning the company retains $9 of operating profit per $100 of revenue. This results in a moderate score of 33/100, indicating healthy but not exceptional operating efficiency. This is up from 0.1% the prior year.

Growth
8

Blackberry's revenue grew a modest 2.7% year-over-year to $549.1M. This slow but positive growth earns a score of 8/100.

Leverage
97

Blackberry carries a low D/E ratio of 0.26, meaning only $0.26 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 97/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
39

Blackberry's current ratio of 2.12 indicates adequate short-term liquidity, earning a score of 39/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
37

Blackberry has a free cash flow margin of 8.5%, earning a moderate score of 37/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
4

Blackberry generates a 7.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 4/100. This is up from -11.0% the prior year.

Altman Z-Score Grey Zone
2.77

Blackberry scores 2.77, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($3.6B) relative to total liabilities ($499.2M). This signals moderate financial risk that warrants monitoring.

Piotroski F-Score Strong
7/9

Blackberry passes 7 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed
0.95x

For every $1 of reported earnings, Blackberry generates $0.95 in operating cash flow ($50.3M OCF vs $53.2M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage Safe
8.1x

Blackberry earns $8.1 in operating income for every $1 of interest expense ($48.3M vs $6.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue
$549.1M
YoY+2.7%
5Y CAGR-9.3%
10Y CAGR-12.8%

Blackberry generated $549.1M in revenue in fiscal year 2026. This represents an increase of 2.7% from the prior year.

EBITDA
$66.1M
YoY+45.3%
10Y CAGR-16.3%

Blackberry's EBITDA was $66.1M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 45.3% from the prior year.

Net Income
$53.2M
YoY+167.3%

Blackberry reported $53.2M in net income in fiscal year 2026. This represents an increase of 167.3% from the prior year.

EPS (Diluted)
$0.09
YoY+169.2%

Blackberry earned $0.09 per diluted share (EPS) in fiscal year 2026. This represents an increase of 169.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$46.5M
YoY+247.0%
5Y CAGR-8.9%
10Y CAGR-14.6%

Blackberry generated $46.5M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 247.0% from the prior year.

Cash & Debt
$274.7M
YoY+3.0%
5Y CAGR+5.1%
10Y CAGR-11.7%

Blackberry held $274.7M in cash against $196.5M in long-term debt as of fiscal year 2026.

Dividends Per Share
N/A
Shares Outstanding
588M
YoY-1.4%
5Y CAGR+0.8%
10Y CAGR+1.2%

Blackberry had 588M shares outstanding in fiscal year 2026. This represents a decrease of 1.4% from the prior year.

Margins & Returns

Gross Margin
76.2%
YoY+2.3pp
5Y CAGR+4.2pp
10Y CAGR+32.6pp

Blackberry's gross margin was 76.2% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 2.3 percentage points from the prior year.

Operating Margin
8.8%
YoY+8.6pp
5Y CAGR+132.8pp
10Y CAGR+19.1pp

Blackberry's operating margin was 8.8% in fiscal year 2026, reflecting core business profitability. This is up 8.6 percentage points from the prior year.

Net Margin
9.7%
YoY+24.5pp
5Y CAGR+133.3pp
10Y CAGR+19.3pp

Blackberry's net profit margin was 9.7% in fiscal year 2026, showing the share of revenue converted to profit. This is up 24.5 percentage points from the prior year.

Return on Equity
7.1%
YoY+18.1pp
5Y CAGR+80.5pp
10Y CAGR+13.6pp

Blackberry's ROE was 7.1% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is up 18.1 percentage points from the prior year.

Capital Allocation

R&D Spending
$113.6M
YoY+4.4%
5Y CAGR-12.0%
10Y CAGR-13.2%

Blackberry invested $113.6M in research and development in fiscal year 2026. This represents an increase of 4.4% from the prior year.

Share Buybacks
$60.7M
10Y CAGR-4.2%

Blackberry spent $60.7M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures
$3.8M
YoY+22.6%
5Y CAGR-13.8%
10Y CAGR-19.2%

Blackberry invested $3.8M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 22.6% from the prior year.

BB Income Statement

Metric Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25
Revenue $156.0M+10.0% $141.8M+9.4% $129.6M+6.5% $121.7M-14.1% $141.7M-1.3% $143.6M+13.8% $126.2M+2.3% $123.4M
Cost of Revenue $34.6M+8.5% $31.9M-3.3% $33.0M+5.1% $31.4M-16.5% $37.6M+19.7% $31.4M-16.5% $37.6M+12.6% $33.4M
Gross Profit $121.4M+10.5% $109.9M+13.8% $96.6M+7.0% $90.3M-13.3% $104.1M-7.2% $112.2M+26.6% $88.6M-1.6% $90.0M
R&D Expenses $33.4M+12.8% $29.6M+15.6% $25.6M+2.4% $25.0M+7.8% $23.2M-16.8% $27.9M+3.0% $27.1M-11.4% $30.6M
SG&A Expenses $30.7M-15.0% $36.1M+14.6% $31.5M+3.3% $30.5M-39.2% $50.2M+37.9% $36.4M+11.0% $32.8M-18.6% $40.3M
Operating Income $22.9M+92.4% $11.9M+3.5% $11.5M+475.0% $2.0M+125.0% -$8.0M-141.0% $19.5M+786.4% $2.2M+117.1% -$12.9M
Interest Expense $1.5M0.0% $1.5M0.0% $1.5M0.0% $1.5M0.0% $1.5M0.0% $1.5M0.0% $1.5M0.0% $1.5M
Income Tax $1.6M+45.5% $1.1M+1000.0% $100K-96.7% $3.0M+114.3% $1.4M-78.8% $6.6M+371.4% $1.4M-81.6% $7.6M
Net Income $24.3M+77.4% $13.7M+3.0% $13.3M+600.0% $1.9M+125.7% -$7.4M+29.5% -$10.5M+46.7% -$19.7M+52.4% -$41.4M
EPS (Diluted) N/A $0.020.0% $0.02 $0.00 N/A $-0.02+33.3% $-0.03+57.1% $-0.07

BB Balance Sheet

Metric Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25
Total Assets $1.2B+2.2% $1.2B+2.9% $1.2B-2.2% $1.2B-6.6% $1.3B-1.0% $1.3B+0.8% $1.3B-1.8% $1.3B
Current Assets $568.2M+4.6% $543.2M+7.1% $507.2M-4.9% $533.2M-9.9% $591.5M+30.0% $455.0M+3.9% $438.0M-4.4% $458.0M
Cash & Equivalents $274.7M+1.6% $270.3M-2.2% $276.4M+0.1% $276.0M+3.5% $266.7M+41.1% $189.0M+10.5% $171.0M+19.6% $143.0M
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable $156.0M+4.3% $149.5M+19.6% $125.0M-3.8% $129.9M-25.2% $173.7M+7.9% $161.0M+7.3% $150.0M+1.4% $148.0M
Goodwill $479.1M+0.2% $478.1M-0.1% $478.5M+0.3% $476.9M+1.0% $472.4M-0.1% $473.0M-16.0% $563.0M+0.4% $561.0M
Total Liabilities $499.2M+4.6% $477.3M+4.0% $459.0M-5.4% $485.3M-15.7% $575.7M-1.4% $584.0M+3.0% $567.0M-2.4% $581.0M
Current Liabilities $268.1M+5.8% $253.3M+10.0% $230.2M-9.2% $253.4M-26.4% $344.3M+3.7% $332.0M+8.9% $305.0M-5.0% $321.0M
Long-Term Debt $196.5M+0.2% $196.2M+0.2% $195.9M+0.2% $195.6M+0.2% $195.3M N/A N/A N/A
Total Equity $746.0M+0.7% $741.1M+2.2% $725.1M0.0% $725.1M+0.7% $719.9M-0.7% $725.2M-0.9% $732.1M-1.4% $742.6M
Retained Earnings -$2.2B+1.5% -$2.2B+0.7% -$2.2B+0.8% -$2.2B+0.2% -$2.2B-0.3% -$2.2B-0.5% -$2.2B-0.9% -$2.2B

BB Cash Flow Statement

Metric Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25
Operating Cash Flow $46.1M+151.9% $18.3M+369.2% $3.9M+121.7% -$18.0M-143.3% $41.6M+593.3% $6.0M+137.5% -$16.0M-6.0% -$15.1M
Capital Expenditures $1.2M+33.3% $900K+12.5% $800K-11.1% $900K+125.0% $400K-50.0% $800K+60.0% $500K-64.3% $1.4M
Free Cash Flow $44.9M+158.0% $17.4M+461.3% $3.1M+116.4% -$18.9M-145.9% $41.2M+692.3% $5.2M+131.5% -$16.5M0.0% -$16.5M
Investing Cash Flow -$15.2M+30.9% -$22.0M-253.8% $14.3M-62.9% $38.5M-0.3% $38.6M+601.8% $5.5M-87.4% $43.8M+261.0% -$27.2M
Financing Cash Flow -$26.7M-888.9% -$2.7M+86.5% -$20.0M-127.3% -$8.8M $0-100.0% $1.6M $0-100.0% $1.5M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks $26.7M+567.5% $4.0M-80.0% $20.0M+100.0% $10.0M $0 $0 $0 $0

BB Financial Ratios

Metric Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25
Gross Margin 77.8%+0.3pp 77.5%+3.0pp 74.5%+0.3pp 74.2%+0.7pp 73.5%-4.7pp 78.1%+7.9pp 70.2%-2.7pp 72.9%
Operating Margin 14.7%+6.3pp 8.4%-0.5pp 8.9%+7.2pp 1.6%+7.3pp -5.7%-19.2pp 13.6%+11.8pp 1.7%+12.2pp -10.4%
Net Margin 15.6%+5.9pp 9.7%-0.6pp 10.3%+8.7pp 1.6%+6.8pp -5.2%+2.1pp -7.3%+8.3pp -15.6%+17.9pp -33.6%
Return on Equity 3.3%+1.4pp 1.8%+0.0pp 1.8%+1.6pp 0.3%+1.3pp -1.0%+0.4pp -1.5%+1.2pp -2.7%+2.9pp -5.6%
Return on Assets 1.9%+0.8pp 1.1%0.0pp 1.1%+1.0pp 0.2%+0.7pp -0.6%+0.2pp -0.8%+0.7pp -1.5%+1.6pp -3.1%
Current Ratio 2.12-0.0 2.14-0.1 2.20+0.1 2.10+0.4 1.72+0.3 1.37-0.1 1.440.0 1.43
Debt-to-Equity 0.260.0 0.260.0 0.270.0 0.270.0 0.27-0.5 0.81+0.0 0.770.0 0.78
FCF Margin 28.8%+16.5pp 12.3%+9.9pp 2.4%+17.9pp -15.5%-44.6pp 29.1%+25.5pp 3.6%+16.7pp -13.1%+0.3pp -13.4%

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Frequently Asked Questions

Blackberry (BB) reported $549.1M in total revenue for fiscal year 2026. This represents a 2.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Blackberry (BB) revenue grew by 2.7% year-over-year, from $534.9M to $549.1M in fiscal year 2026.

Yes, Blackberry (BB) reported a net income of $53.2M in fiscal year 2026, with a net profit margin of 9.7%.

Blackberry (BB) reported diluted earnings per share of $0.09 for fiscal year 2026. This represents a 169.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Blackberry (BB) had EBITDA of $66.1M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2026, Blackberry (BB) had $274.7M in cash and equivalents against $196.5M in long-term debt.

Blackberry (BB) had a gross margin of 76.2% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

Blackberry (BB) had an operating margin of 8.8% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

Blackberry (BB) had a net profit margin of 9.7% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

Blackberry (BB) has a return on equity of 7.1% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

Blackberry (BB) generated $46.5M in free cash flow during fiscal year 2026. This represents a 247.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Blackberry (BB) generated $50.3M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

Blackberry (BB) had $1.2B in total assets as of fiscal year 2026, including both current and long-term assets.

Blackberry (BB) invested $3.8M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

Blackberry (BB) invested $113.6M in research and development during fiscal year 2026.

Yes, Blackberry (BB) spent $60.7M on share buybacks during fiscal year 2026, returning capital to shareholders by reducing shares outstanding.

Blackberry (BB) had 588M shares outstanding as of fiscal year 2026.

Blackberry (BB) had a current ratio of 2.12 as of fiscal year 2026, which is generally considered healthy.

Blackberry (BB) had a debt-to-equity ratio of 0.26 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

Blackberry (BB) had a return on assets of 4.3% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

Blackberry (BB) has an Altman Z-Score of 2.77, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Blackberry (BB) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Blackberry (BB) has an earnings quality ratio of 0.95x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Blackberry (BB) has an interest coverage ratio of 8.1x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Blackberry (BB) scores 36 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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