BlackBerry Limited (BB) Stock Price & How to Invest
Short answer
You can invest in BlackBerry (BB) by buying shares or fractional shares at any major broker, through an ETF that holds it, or as one holding in a thematic basket. The thesis most investors describe centers on QNX, BlackBerry's embedded automotive and IoT operating system, paired with a software turnaround in its Secure Communications cybersecurity business. After years of losses, the company returned to GAAP profitability and is leaning on a growing QNX royalty backlog. The most-cited risk is that growth is modest and competition is broad, so the turnaround has to keep executing for the story to hold.
BB stock price
As of 2026-06-26, BlackBerry Limited (BB) last closed at $11.40, up 151.1% over the past year. Over the past 52 weeks it has traded between $3.15 and $11.40.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or BlackBerry Limited's investor relations page. Walnut is informational, not investment advice.
What does BlackBerry Limited (BB) do?
BlackBerry is a software company built around two reporting segments. QNX makes a safety-certified real-time operating system and middleware used in cars (digital cockpits, advanced driver assistance, software-defined vehicle platforms) and in other embedded and IoT systems such as robotics, medical devices, and industrial controls. QNX earns money through development licenses and, more importantly, per-unit royalties paid as products ship, which builds a contracted royalty backlog that converts to revenue over time. The Secure Communications segment sells cybersecurity and secure messaging, unified endpoint management, and crisis-communication and emergency-notification software, with a customer base skewed toward governments, defense, and regulated enterprises. A third, smaller stream comes from BlackBerry's patent and licensing portfolio.
What's driving BlackBerry Limited (BB)?
QNX royalty backlog and automotive software
QNX is the centerpiece of the story. In fiscal 2026 it grew full-year revenue about 14% and reported a royalty backlog of roughly $950 million, contracted future revenue from design wins that ship over coming years. New automotive wins have been cited at names including Mercedes-Benz, BMW, and Volvo, and management frames QNX as a Rule of 40 business embedded in more than 275 million vehicles.
Secure Communications and government demand
The Secure Communications segment generated roughly $259 million in fiscal 2026 with strong segment gross margins. Its customers skew toward governments, defense, and regulated enterprises, and BlackBerry points to digital-sovereignty demand and expanding defense budgets as tailwinds. This segment provides recurring revenue that is less tied to the automotive production cycle than QNX.
Return to profitability and cash focus
After divesting the loss-making Cylance endpoint business to Arctic Wolf, BlackBerry shifted to a leaner cost structure and returned to GAAP net income, posting roughly $53 million for fiscal 2026 versus a prior-year loss. Management has emphasized profitability, cash generation, and share repurchases over the kind of acquisitions that defined earlier years.
Patent and IP licensing
BlackBerry retains a large patent portfolio spanning messaging, security, and wireless technologies. Licensing this intellectual property is a smaller, lumpier revenue stream than QNX or Secure Communications, but it adds optionality and reflects the company's long history in mobile and security.
What are the risks to BlackBerry Limited (BB)?
Overall revenue growth is modest, often in the low-to-mid single digits, so the investment case leans heavily on QNX execution and backlog conversion. QNX revenue is exposed to automotive production volumes, which are cyclical and can soften in a weak car market. Secure Communications competes against large endpoint-management and cybersecurity vendors, and any turnaround can stall. The shares have also carried a meme-stock legacy that can make the price more volatile than the fundamentals alone would suggest.
How is BlackBerry Limited (BB) valued? (approximate, June 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see BlackBerry Limited's investor relations page or your broker.
- Revenue (FY2026, ended Feb 2026): ~$549M, up ~3% year over year
- Segment mix: Secure Communications ~$259M; QNX grew ~14% full year (record Q4 ~$79M); plus Licensing/IP
- QNX royalty backlog: ~$950M of contracted future revenue
- GAAP net income (FY2026): ~$53M, up from a prior-year loss
- Market cap: ~$6.6B
- Price-to-sales (TTM): ~10x to 11x
BlackBerry trades at a price-to-sales multiple well above a typical hardware or legacy-tech name, reflecting expectations that QNX royalties and the embedded-software franchise can compound. That premium also means the market is pricing in continued execution; results that merely match low-single-digit total growth could leave the valuation looking stretched. Figures are tied to the June 2026 as-of date and will change with each quarterly report.
Who competes with BlackBerry Limited (BB)?
Embedded and automotive operating systems
QNX competes with other safety-certified real-time operating systems such as Green Hills Software's INTEGRITY and Wind River's VxWorks, as well as open-source Linux-based stacks and Google's Android Automotive OS. The competitive question is whether automakers standardize on QNX for safety-critical workloads or move more functions to open-source alternatives.
Cybersecurity and endpoint management
Secure Communications overlaps with unified-endpoint-management and secure-messaging vendors like Microsoft (Intune), Ivanti, and various government-focused security providers. Having divested Cylance, BlackBerry no longer competes head-on in pure endpoint detection against CrowdStrike or SentinelOne.
Software-defined vehicle platforms
On the broader automotive-software stack, QNX sits alongside and sometimes underneath platforms from chip and software players such as NVIDIA, Qualcomm, and Mobileye, where it can serve as the underlying OS layer rather than a direct rival, depending on the design.
How to invest in BlackBerry Limited (BB)
There are three common ways to get BB exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so BB sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where BB fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on BlackBerry Limited (BB)
If you believe that BlackBerry's QNX software, already embedded in more than 275 million vehicles, can keep converting its design-win backlog into rising royalties while the Secure Communications segment holds onto government and defense customers, then BB is one way to express that view. The counterpoint is that overall revenue growth is in the low-to-mid single digits some years, automotive demand is cyclical, and both segments face large, well-funded rivals. Whether that mix fits a given portfolio depends on the investor's own goals, time horizon, and tolerance for a multi-year turnaround that is still proving itself.
More on BlackBerry Limited (BB)
Whether BB is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is BB a buy?, and where the stock could go from here in the BB stock forecast.
For income investors, whether BB pays a dividend and how the payout looks is covered in does BB pay a dividend?
Build a basket around BB with Walnut
Use BlackBerry Limited as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
Is BB a good stock to buy right now?
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That depends on your own goals and risk tolerance, and this is not advice. Bulls point to QNX's roughly $950 million royalty backlog, 275 million-plus vehicles running its software, and a return to GAAP profitability. Bears note that total revenue grows only in the low-single digits some years, automotive demand is cyclical, and the valuation already prices in continued execution. Both views can be true at once.
What does BlackBerry do now?
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BlackBerry is a software company. Its QNX segment licenses a safety-certified operating system and middleware used in cars, robotics, and other embedded and IoT systems, earning per-unit royalties as products ship. Its Secure Communications segment sells cybersecurity, secure messaging, unified endpoint management, and crisis-communication software, largely to governments and regulated enterprises. It also licenses a patent portfolio.
Does BlackBerry still make phones?
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No. BlackBerry exited the smartphone hardware business years ago and stopped designing and making its own phones. It later wound down the legacy services that kept older BlackBerry devices running. Today the company is purely a software and intellectual-property business, with no consumer handset line, despite the brand still being associated with its iconic keyboard phones.
Does BB pay a dividend?
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No. BlackBerry does not currently pay a dividend, and its trailing dividend yield is 0%. The company has prioritized reaching sustained profitability, generating cash, and at times repurchasing shares rather than returning cash through dividends. Investors in BB are therefore relying on potential share-price appreciation, not income, for any return.
What is the QNX royalty backlog and why does it matter?
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The royalty backlog is contracted future revenue from design wins that have not yet shipped in volume. BlackBerry reported it at roughly $950 million for fiscal 2026. It matters because it offers visibility into QNX revenue that should convert as those cars and devices reach production, though the timing depends on automakers' build schedules and is not guaranteed.
Why did BlackBerry sell Cylance?
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BlackBerry bought Cylance, an endpoint-security business, for about $1.4 billion in 2018, but it underperformed expectations. The company sold those assets to Arctic Wolf in a deal that closed in early 2025 for roughly $160 million in cash plus shares in Arctic Wolf. The sale let BlackBerry focus on QNX and its remaining Secure Communications software.
How can I buy BlackBerry stock?
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BB trades on the New York Stock Exchange and in Toronto, so you can buy it through any major brokerage. Many brokers also offer fractional shares, letting you invest a set dollar amount rather than buying a whole share. Some investors hold it indirectly through a technology or small-cap ETF, or as one position within a thematic basket.
Is BlackBerry still a meme stock?
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BlackBerry was one of the names caught up in the 2021 meme-stock episode, and it can still see bursts of retail-driven volatility. That legacy means the share price sometimes moves more on sentiment than on quarterly fundamentals. Underneath the trading activity, the actual business today is a software company driven by QNX royalties and Secure Communications, not a hardware or consumer brand.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with BlackBerry Limited's investor relations page or your broker before making investment decisions.