BlackBerry held its 2024 Investor Day today, where BlackBerry executives provided insight into the Company’s vision and future plans, sharing profitability details for the Company’s IoT and Cybersecurity divisions, including for the Cylance business
Revenue and profitability forecasts for each division and the Company as a whole for fiscal 2026 and 2027, capital allocation priorities and strategic direction.
The company said Wednesday that it expects a return to profitability next fiscal year from a significant loss position in fiscal 2023.
The company expects adjusted earnings before earnings before interest, taxes, depreciation and amortization to be between breakeven and $10 million in the current fiscal year.
Improvements are on the way, however, and BlackBerry said it expects adjusted Ebitda to be between $50 million and $65 million in fiscal 2026, and then to grow to a range of $80 million to $95 million by fiscal 2027.
“Today’s Investor Day event showcased the tremendous progress we’ve made as a company since last December, both in terms of how we’ve positioned our IoT and Cybersecurity divisions to focus on their market opportunities, as well as the positive transformation in our financial performance,” said John J. Giamatteo, CEO, BlackBerry.
“As a new management team, we’ve taken a fresh look at our capital allocation priorities, increasing focus on BlackBerry’s growth engines, particularly QNX.”
Revenue also is expected to rise. The company has laid out guidance for revenue in fiscal 2025 to be between $591 million and $616 million, then rising to a range of $620 million to $650 million in fiscal 2026, and then to $655 million and $685 million in fiscal 2027, representing a 5% compounded annual growth rate between fiscal 2025 and 2027.
The event, hosted at the New York Stock Exchange, was available live to the general public via webcast.
A replay of the Investor Day presentations will be available today on the BlackBerry website at BlackBerry Investor Day 2024.
“Establishing virtually autonomous divisions, and significantly streamlining costs in the process, has enabled us to deliver on our commitment to greater financial transparency by providing divisional profitability at today’s Investor Day event,” said Tim Foote, CFO, BlackBerry.
“We believe this will help provide investors with greater visibility into the progress that BlackBerry is making in driving towards profitable growth.”
Materials from the presentation of Tim Foote, BlackBerry’s Chief Financial Officer, will also be available today on EDGAR and SEDAR+.
