Why this name is on the tape
BlackBerry Limited (NYSE: BB; TSX: BB) reported fiscal second-quarter 2027 results on 24 September 2026, for the three months ended 31 August. An earlier MarketNeon note kept Q1’s $72.3 million QNX print apart from a $950 million royalty backlog. This note is the August print. QNX is still the car and safety OS. Secure Communications and Licensing are still the rest of the book. A design win is still not cash.
Search boxes still pull up the old handsets. The company does not make phones. This is not a ranking of the stock and not a trade instruction.
What printed for the quarter ended 31 August 2026
For the quarter ended 31 August 2026 BlackBerry reported revenue of $163.3 million, up 26% from $129.6 million a year earlier and up from $152.9 million in the May quarter. GAAP net income was $33.9 million. GAAP basic earnings per share was $0.06. GAAP operating income was $33.6 million. Operating cash flow was $29.3 million. The company ended the quarter with $447.1 million of cash and investments. It called this the sixth straight quarter of positive GAAP net income.
On 25 June the company had guided this quarter’s total revenue to $137–$148 million. The print cleared that range. A beat of a company target is still one quarter. Adjusted EBITDA was $47.0 million. The company said that, on its own Rule of 40 definition — GAAP revenue growth plus adjusted EBITDA margin — this was a second consecutive quarter above 40. That ratio is a company definition. It is not a GAAP profit test.
QNX was the record. Licensing was the lump.
QNX segment revenue was $80.3 million, up 27% from $63.1 million a year earlier. That is above the prior QNX record of $78.7 million in the February quarter, and above the $70–$75 million range set on 25 June. QNX segment adjusted gross margin was 87%. QNX segment adjusted EBITDA was $29.0 million, a 36% margin. Management said the quarter was driven by the core automotive business. The majority of QNX revenue is still royalties on systems that ship, plus development licenses that can print early. This $80.3 million is billed QNX. It is not the royalty backlog.
Secure Communications segment revenue was $60.9 million, up 2% from $59.9 million a year earlier and down from $73.6 million in the May quarter. Segment adjusted gross margin was 61%, down five points year over year. Segment adjusted EBITDA was $8.0 million, down 18%. Annual recurring revenue was $221 million. Dollar-based net retention was 91%. A stable ARR line is not a second QNX.
Licensing segment revenue was $22.1 million, versus $6.6 million a year earlier and $7.0 million in the May quarter. Licensing segment adjusted EBITDA was $20.0 million. That lump sits inside the $163.3 million company total. It is not QNX royalties, and the company is not guiding it as a run-rate: the next quarter’s licensing line is about $6 million.
Alloy Kore’s first design win adds backlog, not this quarter’s revenue
Coretura, the joint venture of Volvo Group and Daimler Truck, selected Alloy Kore for a next-generation commercial-vehicle software platform. BlackBerry called it the first Alloy Kore design win and the largest design win in QNX history. The company said the win adds more than $100 million to QNX royalty backlog. At the February year-end that backlog was about $950 million, and BlackBerry’s own filings say the figure is not a standardized measure. An addition to backlog is royalties the company expects as a program builds and ships over years. It is not cash collected this quarter, and it is not the $80.3 million.
The same release named two other selections that are also not this quarter’s check. Momenta and XHEART selected QNX OS for Safety as the foundation for a production-ready autonomous-driving platform. QNX added Hailo-8 accelerator support on its software development platform. A selection and a supported chip are not unit royalties already in the August print. At year-end, management had said Alloy Kore design wins were still ahead. This is the first one. It does not pull those future royalties into the quarter that just closed.
What the company now says is still a target
For the quarter ending 30 November 2026 the company guided total revenue of $143–$154 million, QNX revenue of $82–$88 million, Secure Communications revenue of $55–$60 million, and licensing revenue of about $6 million. The company total steps down from the $163.3 million that just printed. The QNX range does not. Most of that step-down is the licensing line returning toward a single-digit million print.
For the fiscal year ending 28 February 2027 the company raised total revenue to $616–$636 million, from $594–$621 million, and QNX revenue to $315–$325 million, from $295–$312 million. Secure Communications for the year is guided at $260–$270 million. Total adjusted EBITDA is guided at $141–$158 million. Operating cash flow for the year is guided at about $115 million. Those are company targets. They are not a print, and adjusted EBITDA is not GAAP net income.
What this does not tell you
A $163.3 million quarter and an $80.3 million QNX line are evidence that billed royalties, development licenses, Secure Communications, and a large licensing quarter can print above the June company range. They are not proof that the November quarter lands inside $143–$154 million, that full-year revenue lands inside $616–$636 million, or that full-year QNX lands inside $315–$325 million. The licensing $22.1 million is in this quarter. The next-quarter guide treats licensing as about $6 million.
More than $100 million added to royalty backlog is evidence of a named Alloy Kore selection at Coretura. It is not cash, not the $80.3 million, and not a dated production schedule for Volvo or Daimler trucks. Momenta, XHEART, and Hailo-8 support are the same class of later clock. About 275 million vehicles is still an installed-base claim, not this year’s shipments.
On MarketNeon, BB is a ticker like any other: price, volume, crowd mentions, and headlines can run hot on a record QNX clip or an Alloy Kore win while the next quarter is still a target and the handset era is still what the search box remembers. This article is context for those prints. It does not rank the name, and it does not tell anyone to buy or sell.