BlackBerry Limited - BB STOCK NEWS

BlackBerry announced that QNX software is now embedded in over 255 million vehicles worldwide, according to TechInsights. This represents a year-over-year increase of 20 million and an 80 million increase since 2020. QNX is trusted by leading OEMs and Tier 1s for its safety and security-certified software, supporting various automotive systems from digital cockpits to ADAS.

QNX software is accredited to ISO 21434 for automotive cybersecurity and ISO 26262 for functional safety. The technology's presence in over 255 million vehicles demonstrates automakers' confidence in QNX for next-generation innovation. BlackBerry QNX recently launched new products including QNX Software Development Platform 8.0, QNX Sound, and the QNX Everywhere initiative to create a more open development environment.

BlackBerry (NYSE:BB)(TSX:BB) has released new research highlighting the challenges faced by software engineers and developers in balancing rapid innovation with safety and security. The survey of 1,000 embedded software developers worldwide revealed:

- 75% of respondents admit that urgency often compromises functional safety requirements
- 74% of developers are considering switching operating systems due to challenges
- 61% of those required to meet international safety standards find it extremely or very challenging with their current OS
- Open-Source operating systems are preferred by 44% of developers but often lack necessary safety certifications
- 31% of respondents admitted their OS lacked or only partially covered necessary safety certifications
- 72% reported project delays due to security vulnerabilities in their OS

The research emphasizes the need for pre-certified, secure-by-design solutions to allow developers to focus on innovation while maintaining robust, secure systems.

LDRA has announced support for BlackBerry QNX Software Development Platform 8.0 (SDP 8.0) in its LDRA tool suite. This integration aims to enhance safety and security for embedded applications in automotive, industrial controls, and robotics. The combined solution offers a qualified tool chain for compliance with functional safety standards like ISO 26262 and IEC 61508 with SIL 3 and SIL 4 compliance.

The integration provides developers with static and dynamic analysis within the QNX Momentics IDE, supports both traditional and DevSecOps development processes, and includes worst case execution timing (WCET) analysis. This collaboration aims to help developers meet industry standards while maintaining performance and quality in increasingly complex software environments.

BlackBerry (NYSE:BB)(TSX:BB) has appointed Lisa Bahash to its Board of Directors, effective September 26, 2024. Ms. Bahash brings over 30 years of experience in the automotive OEM, Tier 1 supplier, and aftermarket sectors. She previously held senior positions at Jabil Inc., Johnson Control, Ride Control, (Gabriel), and Ford Motor Company. Most recently, she served as Principal and Operating Partner at Architect Equity

Ms. Bahash holds a Master of Engineering Management degree from Wayne State University and a Bachelor of Science degree in Mechanical Engineering from the University of Michigan. She is also a board member at Syrah Resources and was recognized as one of Automotive News Top 100 Leading Women in the North American Auto Industry in 2015.

With this appointment, BlackBerry's Board now consists of eight directors, seven of whom are independent, including Ms. Bahash.

BlackBerry (NYSE:BB)(TSX:BB) reported financial results for Q2 FY2025, ending August 31, 2024. The company achieved breakeven adjusted EBITDA and non-GAAP EPS, with GAAP net loss improving by 55% year-on-year to $19 million. Total revenue was $145 million, with IoT revenue growing 12% YoY to $55 million and Cybersecurity revenue growing 10% YoY to $87 million. Operating expenses were 24% lower than the prior year baseline.

BlackBerry raised the bottom end of its full-year guidance range for IoT. For Q3 FY25, the company expects total revenue of $146-$154 million, with IoT revenue of $56-$60 million and Cybersecurity revenue of $86-$90 million. Full fiscal year FY25 guidance projects total revenue of $591-$616 million.

BlackBerry's latest Global Threat Intelligence Report reveals a 53% increase in unique malware samples detected daily, averaging 11,500. The company stopped 3.7 million cyberattacks from April to June 2024, an 18% increase from the previous period. Critical infrastructure remained a prime target, with over 800,000 attacks, 50% focusing on the financial sector.

Key findings include:

• Geopolitical tensions fueling cyberattacks
• Critical infrastructure facing sophisticated threats
• Commercial enterprise attacks up by 58%
• Deepfake technology improving
• Emerging ransomware groups like BlackSuit and Space Bears causing concern

The report predicts continued targeting of private data, especially in healthcare and financial services sectors. BlackBerry has partnered with the Royal Canadian Mounted Police's NC3 to highlight law enforcement insights on cybercrime trends.

BlackBerry (NYSE:BB)(TSX:BB) has enhanced its QNX OS for Safety with the addition of a POSIX-compliant, ISO 26262 certified, integrity checking filesystem. The new QNX Filesystem for Safety (QFS), certified to ISO 26262 ASIL B, verifies the integrity of all filesystem contents at runtime, enabling developers to detect corruption and maintain system safety. This addition provides an extra layer of validation for OEMs and embedded software suppliers building safety-critical systems.

The QFS guards against potential issues in safety-critical functions like collision avoidance or object detection by validating all data and performance parameters. Select OEMs and Tier 1s are already using QFS 1.0 in their development of next-generation automotive technology. It's now available as part of QNX OS for Safety 2.2.3.

BlackBerry (NYSE:BB)(TSX:BB) has announced that it will report its second quarter fiscal year 2025 results on September 26, 2024, at 5:30 p.m. ET. The company will host a conference call and webcast for investors and interested parties to discuss the results. Access to the call is available through a live webcast or by dialing a toll-free number. A replay of the conference call will be made available later that evening.

Additionally, BlackBerry has provided target dates for quarterly earnings announcements for the remainder of fiscal year 2025. The Q3 2025 earnings are planned for December 19, 2024, and Q4 2025 results are scheduled for March 26, 2025. These dates are subject to confirmation approximately two weeks before each announcement.

BlackBerry (NYSE:BB)(TSX:BB) has announced its upcoming Investor Day on Wednesday, October 16, 2024 at 9:30am ET. The event will be held at the New York Stock Exchange and will be accessible to the public via webcast. Interested parties can register through the provided link or the BlackBerry.com/Investors website.

This Investor Day aims to offer investors and analysts an opportunity to engage with BlackBerry executives, gaining insights into the company's vision, future strategies, and progress towards profitability and positive cashflow in their IoT and Cybersecurity divisions. A replay of the webcast will be available after the event, and additional details, including the agenda, can be found on the company's website.