BLACKBERRY $BB Q2’27 EARNINGS HIGHLIGHTS 🔹 Revenue: $163.3M (Est. $146M) 🟢; +26% YoY 🔹 Adj. EPS: $0.07 (Est. $0.04) 🟢; +75% YoY 🔹 GAAP EPS: $0.06 🔹 Adj. EBITDA: $47.0M (Est. $28.1M) 🟢; +81% YoY FY27 Guide: 🔹 Revenue: $616M-$636M (Est. $615M) 🟢 🔹 Adj. EBITDA: $141M-$158M (Est. $136M) 🟢 🔹 Adj. EPS: $0.19-$0.22 (Est. $0.19) 🟡 🔹 QNX Revenue: $315M-$325M 🔹 Secure Communications Revenue: $260M-$270M 🔹 Licensing Revenue: ~$41M Q3 Guide: 🔹 Revenue: $143M-$154M (Est. $150M) 🟡 🔹 Adj. EBITDA: $28M-$37M (Est. $33.6M) 🟡 🔹 Adj. EPS: $0.04-$0.05 (Est. $0.05) 🟡 🔹 QNX Revenue: $82M-$88M 🔹 Secure Communications Revenue: $55M-$60M 🔹 Licensing Revenue: ~$6M Segment Net Revenue: 🔹 QNX: $80.3M; +27% YoY 🔹 Secure Communications: $60.9M; +2% YoY 🔹 Licensing: $22.1M Other Q2 Metrics: 🔹 Adjusted Gross Margin: 78.2% 🔹 Adjusted EBITDA Margin: 29% (Est. 19.6%) 🟢 🔹 Secure Communications ARR: $221M; flat YoY 🔹 DBNRR: 91%; -2 pts YoY 🔹 Operating Cash Flow: $29.3M Comments: 🔸 “QNX delivered record performance in the quarter, driven by strength in our core automotive business.” 🔸 “The first Alloy Kore design win, the largest design win in QNX history, marks an important commercial milestone.”

BLACKBERRY’S $BB QNX AND VECTOR WIN FIRST ALLOY KORE DESIGN WITH DAIMLER TRUCK-VOLVO SOFTWARE JV Coretura, the software-defined vehicle company founded by Daimler Truck and Volvo Group, selected Alloy Kore as the safety-certified software foundation for its next-generation commercial vehicle platform. Alloy Kore is jointly developed by Vector and BlackBerry’s QNX unit and is designed for high-performance vehicle computing, combining a real-time operating system with pre-integrated automotive software services. The deal marks the first design win for Alloy Kore since launch. Coretura plans to use the platform as a common software foundation for commercial vehicles, allowing manufacturers to focus more of their engineering resources on applications and features that can be updated over time.

🚨 BLACKBERRY $BB IS BECOMING THE SECURITY LAYER FOR GLOBAL GOVERNMENTS BlackBerry is now securing communications for some of the world's most powerful governments. Its SecuSUITE Server 6.0 and Client 6.0 have been re-certified under the latest NIAP Common Criteria standards. This is far more important than another cybersecurity badge. NIAP certification independently verifies that the software meets the security requirements needed for use across sensitive US government systems. SecuSUITE protects: • Voice calls • Messages • File sharing • Operational coordination • Communications metadata Unlike consumer messaging apps, governments retain control over their encryption keys, data, infrastructure, and deployment. BlackBerry’s secure communication products are already deployed across: • Every G7 government • 18 of the 20 G20 governments • NATO-sensitive environments • US national security systems Government security products must survive independent testing, source-code reviews, supply-chain verification, and repeated re-certification. As commercial spyware and state-sponsored espionage become more advanced, secure communications are turning into sovereign infrastructure. BlackBerry's QNX could become the safety layer beneath physical AI, while SecuSUITE becomes the encrypted communications layer connecting governments and critical infrastructure. The phone company you knew died years ago. What remains may have built two of the most overlooked infrastructure moats on the market.

My first article on Blackberry $BB went viral and moved the stock price in July. Earnings sep 24th. This is no longer a phone company. QNX their crown jewel is in 270M cars and the revenue model hasn’t priced in the next iteration of QNX- Alloy Kore. NVIDIA Halos OS is built on QNX OS to handle real-time execution and functional safety certification. Lots more under the hood in this writeup...