BLACKBERRY Ltd · Software

BB

Low riskNext report: Around Dec 17 (est.)

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The short version

A profitable company with growing sales. Institutions are adding.

Going well

Sales up 26% in the latest quarter vs a year ago
Profitable
Brings in more cash than it spends

Money moves

Insiders sold $3.5M in the last 30 days
Institutions added 13% to their holdings in the quarter ending June 2026 (188 bought, 84 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$9.19+3.0% that day

Company value: $5.4B; Share price times all shares
Price vs profit (P/E): 101.4x; You pay about $101 for each $1 of yearly profit
Price vs sales: 8.8x; Company value is 8.8 times a year of sales
Cash vs value: 5%; Cash as a share of company value
Debt vs value: 4%; Debt as a share of company value

From BB's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Aug '26

$163.3M+26% vs a year earlier

Nov '23Tap a barAug '26

Last 12 months: $614.0M, up 14% from the 12 months before. Over 5 years, sales shrank about 9.3% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of BB. Starting points are the company's recent numbers.

Sales growth+14% a yearRecently: +14% a yearProfit margin13%Last 12 months: 13.1%P/E at the end40xToday: 101.4x. Many steady companies trade at 12x to 25xShare count change-2% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$1.2B

Profit in 5 years$154M

Price these guesses point to$11.59+26% vs $9.19 todayAbout +4.7% a year, before dividends

What today's price needs: with a 13% margin and a 40x P/E, sales would have to grow about 8.8% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

4/7Mixed

MissReturn on equity 15%+Earns a lot on the money owners have in the business.7.3%
PassDebt under half of equityNot relying on borrowed money.0.26x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.9.7%
MissProfitable every yearSteady profits, not one good year.4 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$46.5M
PassShare count not growingNot diluting owners. Falling means buybacks.-6.6% in 3 years
PassGross margin 40%+Pricing power: sells for well above what it costs to make.76.2%

Revenue: $549.1M; +2.7% vs prior year
5-year growth: -9.3%/yr; revenue, per year
Total debt: $196.2M; 0.26x equity
Current ratio: 2.14x; short-term assets / bills due

From annual reports filed with the SEC. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Aug 31, 2026

Reported Sep 24

Revenue: $163.3M; +26.0% YoY
Op. margin: 20.6%; +11.7 pts
Gross margin: 77.8%; +3.3 pts
Free cash flow: $28.1M
Share count: +8.8%; vs a year ago

Insider rating

Last 90 days

21Selling

5 insiders sold $3.5M (not pre-planned)

50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.

Weekly insider trend

13 weeks agoBoughtSoldThis week

Filing buzz

Last 7 days vs normal

62/ 100

This week: 3
Normal week: 1.9
vs normal: 1.6x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Accumulating+12.5%

Institutions added 12.5% to their holdings. 188 bought, 84 sold.

Shares held by institutions298.4M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

+0.2%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

0.3x · $197.1M debt

Shares outstandingLatest reported

587M

Earnings reports

Last 12

Next reportAround Dec 17 (est.)Estimated from the same quarter last year

Results filedSep 24
Results filedJun 25
Results filedApr 9
Results filedDec 18, 2025
Results filedSep 25, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

No offerings, red flags or new big holders. Clean record.

Insider trades

Open-market buys and sells, last 90 days

Bought$00 insiders

Sold$3.5M5 insiders, 0 pre-planned

Insider	Trade	Shares	Avg price	Value	Owns after	Date
John Joseph GiamatteoCEO & President, Secure Comm.	Sell	250K	$9.14	$2.3M	542K	Oct 22Filing ↗
-31.5% of their holdings $8.74 to $9.40 across 2 trades Traded Oct 21 to Oct 22 Not a pre-planned sale Also Director Filed same day
Jennifer Armstrong-owenSr VP & Chief People Officer	Sell	3K	$8.36	$28K	114K	Oct 9Filing ↗
-2.9% of their holdings Not a pre-planned sale Filed 4 days after
Tim FooteChief Financial Officer	Sell	8K	$8.36	$71K	72K	Oct 9Filing ↗
-10.5% of their holdings Not a pre-planned sale Filed 4 days after
John Joseph GiamatteoCEO & President, Secure Comm.	Sell	27K	$8.36	$226K	792K	Oct 9Filing ↗
-3.3% of their holdings Not a pre-planned sale Also Director Filed 4 days after
Philip S. KurtzCLO & Corp. Secretary	Sell	6K	$8.45	$52K	73K	Oct 9Filing ↗
-7.8% of their holdings Not a pre-planned sale Filed 4 days after
Philip S. KurtzCLO & Corp. Secretary	Sell	4K	$9.18	$38K	68K	Oct 2Filing ↗
-5.7% of their holdings Not a pre-planned sale Filed 3 days after
John Joseph GiamatteoCEO & President, Secure Comm.	Sell	29K	$9.20	$269K	758K	Oct 2Filing ↗
-3.7% of their holdings Not a pre-planned sale Also Director Filed 3 days after
Tim FooteChief Financial Officer	Sell	3K	$9.20	$30K	61K	Oct 2Filing ↗
-5.1% of their holdings Not a pre-planned sale Filed 3 days after
John Christopher WallPresident, QNX	Sell	3K	$9.18	$32K	14K	Oct 2Filing ↗
-20% of their holdings Not a pre-planned sale Filed 3 days after
Jennifer Armstrong-owenSr VP & Chief People Officer	Sell	3K	$9.20	$24K	110K	Oct 2Filing ↗
-2.3% of their holdings Not a pre-planned sale Filed 3 days after
Tim FooteChief Financial Officer	Sell	17K	$9.14	$152K	57K	Oct 1Filing ↗
-22.7% of their holdings Not a pre-planned sale Filed 1 day after
Philip S. KurtzCLO & Corp. Secretary	Sell	30K	$9.14	$274K	65K	Sep 30Filing ↗
-31.5% of their holdings Not a pre-planned sale Filed 2 days after