Revenue growth remains highly volatile, swinging from a 16.8% contraction in 2025Q4 to a 25.6% increase in 2027Q1, while gross margins have stabilized at approximately 74%.
BlackBerry Limited (BB) annual income statement — 30-year revenue, gross profit & net income history
| Metric | TTM | Feb'26 | Feb'25 | Feb'24 | Feb'23 | Feb'22 | Feb'21 | Feb'20 | Feb'19 | Feb'18 | Feb'17 | Feb'16 | Feb'15 | Feb'14 | Feb'13 | Feb'12 | Feb'11 | Feb'10 | Feb'09 | Feb'08 | Feb'07 | Feb'06 | Feb'05 | Feb'04 | Feb'03 | Feb'02 | Feb'01 | Feb'00 | Feb'99 | Feb'98 | Feb'97 |
|---|
| Sales/Revenue | 581.41M | 558.08M | 534.9M | 759.1M | 526.3M | 718M | 893M | 1.04B | 904M | 932M | 1.31B | 2.16B | 3.33B | 6.81B | 11.07B | 18.42B | 19.91B | 14.95B | 11.07B | 6.03B | 3.04B | 2.06B | 1.35B | 594.62M | 307.01M | 293.98M | 221.33M | 84.97M | 47.34M | 20.85M | 7.16M |
| Revenue Growth % | 8.59% | 4.33% | -29.54% | 44.23% | -26.7% | -19.6% | -14.13% | 15.04% | -3% | -28.8% | -39.4% | -35.23% | -51.05% | -38.47% | -39.9% | -7.45% | 33.13% | 35.14% | 83.55% | 98.52% | 47.24% | 52.72% | 127.11% | 93.68% | 4.43% | 32.83% | 160.49% | 79.47% | 127.01% | 191.24% | - |
| Cost of Goods Sold | 134.86M | 144.63M | 140M | 268.4M | 159.7M | 251M | 250M | 277M | 206M | 262M | 692M | 1.22B | 1.73B | 6.86B | 7.64B | 11.85B | 11.08B | 8.37B | 5.97B | 2.94B | 1.38B | 924.07M | 636.31M | 323.37M | 187.46M | 195.45M | 133.37M | 48.57M | 28.77M | 14.37M | 4.16M |
| COGS % of Revenue | - | 25.92% | 26.17% | 35.36% | 30.34% | 34.96% | 28% | 26.63% | 22.79% | 28.11% | 52.86% | 56.44% | 51.9% | 100.63% | 68.99% | 64.31% | 55.67% | 55.97% | 53.93% | 48.74% | 45.41% | 44.8% | 47.12% | 54.38% | 61.06% | 66.48% | 60.26% | 57.17% | 60.76% | 68.92% | 58.16% |
| Gross Profit | 446.55M | 413.45M | 394.9M | 490.7M | 366.6M | 467M | 643M | 763M | 698M | 670M | 617M | 941M | 1.6B | -43M | 3.43B | 6.58B | 8.82B | 6.58B | 5.1B | 3.09B | 1.66B | 1.14B | 714.14M | 271.25M | 119.55M | 98.54M | 87.95M | 36.39M | 18.57M | 6.48M | 3M |
| Gross Margin % | 76.8% | 74.08% | 73.83% | 64.64% | 69.66% | 65.04% | 72% | 73.37% | 77.21% | 71.89% | 47.14% | 43.56% | 48.1% | -0.63% | 31.01% | 35.69% | 44.33% | 44.03% | 46.07% | 51.26% | 54.58% | 55.2% | 52.88% | 45.62% | 38.94% | 33.52% | 39.74% | 42.83% | 39.24% | 31.08% | 41.84% |
| Gross Profit Growth % | - | 4.7% | -19.52% | 33.85% | -21.5% | -27.37% | -15.73% | 9.31% | 4.18% | 8.59% | -34.43% | -41.33% | 3830.23% | -101.25% | -47.77% | -25.5% | 34.04% | 29.17% | 64.95% | 86.44% | 45.61% | 59.4% | 163.28% | 126.89% | 21.32% | 12.03% | 141.68% | 95.92% | 186.54% | 116.39% | - |
| Operating Expenses | 380.46M | 346.27M | 394.1M | 479.7M | 573.4M | 681M | 1.75B | 912M | 638M | 387M | 1.8B | 1.16B | 2.03B | 7.12B | 4.67B | 5.08B | 4.19B | 3.35B | 2.38B | 1.35B | 850.85M | 723.75M | 685.07M | 234.23M | 248.2M | 157.25M | 92.6M | 26.32M | 13.71M | 7.18M | 4.09M |
| OpEx % of Revenue | - | 62.05% | 73.68% | 63.19% | 108.95% | 94.85% | 195.97% | 87.69% | 70.58% | 41.52% | 137.36% | 53.89% | 60.78% | 104.51% | 42.17% | 27.56% | 21.04% | 22.38% | 21.47% | 22.46% | 28.02% | 35.09% | 50.73% | 39.39% | 80.85% | 53.49% | 41.84% | 30.98% | 28.96% | 34.42% | 57.14% |
| Selling, General & Admin | 252.4M | 242.8M | 255.2M | 291.2M | 274.6M | 297M | 344M | 493M | 409M | 476M | 553M | 653M | 769M | 2.1B | 2.11B | 2.6B | 2.4B | 2.07B | 1.5B | 884.26M | 537.84M | 313.8M | 193.84M | 108.49M | 105.07M | 102.33M | 65.2M | 13.9M | 6.55M | 2.73M | 2.05M |
| SG&A % of Revenue | - | 43.51% | 47.71% | 38.36% | 52.18% | 41.36% | 38.52% | 47.4% | 45.24% | 51.07% | 42.25% | 30.23% | 23.06% | 30.87% | 19.06% | 14.11% | 12.06% | 13.85% | 13.52% | 14.67% | 17.71% | 15.21% | 14.35% | 18.25% | 34.22% | 34.81% | 29.46% | 16.36% | 13.83% | 13.1% | 28.57% |
| Research & Development | 121.6M | 113.6M | 108.8M | 127.1M | 134.2M | 219M | 215M | 259M | 219M | 239M | 306M | 469M | 711M | 1.29B | 1.51B | 1.56B | 1.35B | 965M | 684.7M | 360.96M | 236.14M | 158.63M | 102.67M | 62.64M | 55.97M | 37.44M | 18.28M | 7.74M | 4.38M | 2.98M | 1.61M |
| R&D % of Revenue | - | 20.36% | 20.34% | 16.74% | 25.5% | 30.5% | 24.08% | 24.9% | 24.23% | 25.64% | 23.38% | 21.71% | 21.32% | 18.88% | 13.63% | 8.45% | 6.79% | 6.45% | 6.19% | 5.99% | 7.78% | 7.69% | 7.6% | 10.53% | 18.23% | 12.73% | 8.26% | 9.11% | 9.26% | 14.28% | 22.45% |
| Other Operating Expenses | 2M | -10.13M | 30.1M | 61.4M | 164.6M | 165M | 1.19B | 160M | 10M | -328M | 939M | 42M | 547M | 3.73B | 1.05B | 922M | 438M | 310M | 194.8M | 108.45M | 76.87M | 251.33M | 388.57M | 63.1M | 87.16M | 17.48M | 9.12M | 4.68M | 2.78M | 1.47M | 438.4K |
| Operating Income | 66.09M | 67.18M | 800K | 11M | -206.8M | -214M | -1.11B | -149M | 60M | 283M | -1.18B | -223M | -423M | -7.16B | -1.24B | 1.5B | 4.64B | 3.24B | 2.72B | 1.74B | 806.71M | 414.62M | 29.07M | 37.02M | -128.65M | -58.72M | -4.65M | 10.07M | 4.86M | -696.46K | -1.1M |
| Operating Margin % | 11.37% | 12.04% | 0.15% | 1.45% | -39.29% | -29.8% | -123.96% | -14.33% | 6.64% | 30.36% | -90.22% | -10.32% | -12.68% | -105.14% | -11.15% | 8.13% | 23.29% | 21.65% | 24.6% | 28.81% | 26.57% | 20.1% | 2.15% | 6.23% | -41.9% | -19.97% | -2.1% | 11.85% | 10.27% | -3.34% | -15.31% |
| Operating Income Growth % | - | 8297.59% | -92.73% | 105.32% | 3.36% | 80.67% | -642.95% | -348.33% | -78.8% | 123.96% | -429.6% | 47.28% | 94.09% | -480% | -182.5% | -67.71% | 43.17% | 18.95% | 56.75% | 115.27% | 94.57% | 1326.52% | -21.49% | 128.78% | -119.1% | -1162.44% | -146.2% | 106.99% | 798.39% | 36.46% | - |
| EBITDA | 82.32M | 85.27M | 45.5M | 69.5M | -102.1M | -38M | -909M | 63M | 209M | 460M | -942M | 393M | 271M | -5.89B | 683M | 3.02B | 5.56B | 3.85B | 3.05B | 1.91B | 933.04M | 500.35M | 95.83M | 91.55M | -97.47M | -40.98M | 4.47M | 14.75M | 7.65M | 772.29K | -657.61K |
| EBITDA Margin % | 14.16% | 15.28% | 8.51% | 9.16% | -19.4% | -5.29% | -101.79% | 6.06% | 23.12% | 49.36% | -71.96% | 18.19% | 8.13% | -86.5% | 6.17% | 16.39% | 27.94% | 25.77% | 27.56% | 31.76% | 30.73% | 24.26% | 7.1% | 15.4% | -31.75% | -13.94% | 2.02% | 17.36% | 16.15% | 3.7% | -9.18% |
| EBITDA Growth % | 49.94% | 87.41% | -34.53% | 168.07% | -168.68% | 95.82% | -1542.86% | -69.86% | -54.57% | 148.83% | -339.69% | 45.02% | 104.6% | -962.81% | -77.38% | -45.71% | 44.34% | 26.36% | 59.31% | 105.19% | 86.48% | 422.15% | 4.67% | 193.92% | -137.86% | -1016.37% | -69.68% | 92.9% | 890.18% | 217.44% | - |
| D&A (Non-Cash Add-back) | 16.22M | 18.09M | 44.7M | 58.5M | 104.7M | 176M | 198M | 212M | 149M | 177M | 239M | 616M | 694M | 1.27B | 1.92B | 1.52B | 927M | 616M | 327.9M | 177.92M | 126.34M | 85.73M | 66.76M | 54.53M | 31.17M | 17.74M | 9.12M | 4.68M | 2.78M | 1.47M | 438.4K |
| EBIT | 68.89M | 66.06M | 14.5M | 35.4M | -195.4M | -214M | -98M | -183M | -66M | -198M | -428M | -458M | -174M | -4.04B | -900M | 1.85B | 4.64B | 3.24B | 2.72B | 1.74B | 806.71M | 414.62M | 29.07M | 37.02M | -122.09M | -58.72M | -4.65M | 10.07M | 4.86M | -696.46K | -1.1M |
| Net Interest Income | 8.91M | 10.87M | -6M | -5.6M | -6.4M | -5.93M | -15.81M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 14.58M | 0 | 8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 13.41M | 16.97M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 14.58M | 0 | 8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 4.5M | 6.1M | 6M | 5.6M | 6.4M | 5.93M | 15.81M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 4.59M | -7.22M | 7.7M | 18.8M | 5M | 233M | -6M | 1M | 17M | 123M | -27M | -59M | 38M | -21M | 15M | 21M | 8M | 28M | 78.27M | 79.91M | 52.11M | 66.11M | 37.11M | 10.61M | 11.44M | 20.38M | 8.17M | 5.97M | 3.79M | 1.32M | 1.1M |
| Pretax Income | 70.68M | 59.96M | 8.5M | 29.8M | -201.8M | 19M | -1.11B | -148M | 77M | 406M | -1.21B | -282M | -385M | -7.18B | -1.22B | 1.52B | 4.64B | 3.27B | 2.8B | 1.82B | 858.82M | 480.73M | 66.17M | 47.63M | -117.21M | -38.33M | 3.52M | 16.04M | 8.65M | 619.63K | 0 |
| Pretax Margin % | 12.16% | 10.74% | 1.59% | 3.93% | -38.34% | 2.65% | -124.64% | -14.23% | 8.52% | 43.56% | -92.28% | -13.06% | -11.54% | -105.45% | -11.02% | 8.24% | 23.33% | 21.84% | 25.31% | 30.13% | 28.28% | 23.31% | 4.9% | 8.01% | -38.18% | -13.04% | 1.59% | 18.87% | 18.28% | 2.97% | - |
| Income Tax | 10.71M | 5.89M | 17M | 24.2M | 13.7M | 7M | -9M | 4M | -16M | 1M | -2M | -74M | -81M | -1.31B | -592M | 347M | 1.23B | 809M | 907.75M | 518.28M | 227.34M | 106.69M | -139.44M | -4.2M | 31.78M | -9.86M | 9.73M | 5.54M | 2.25M | 258.43K | -73.07K |
| Effective Tax Rate % | 15.15% | 9.83% | 200% | 81.21% | -6.79% | 36.84% | 0.81% | -2.7% | -20.78% | 0.25% | 0.17% | 26.24% | 21.04% | 18.25% | 48.52% | 22.86% | 26.55% | 24.77% | 32.42% | 28.53% | 26.47% | 22.19% | -210.72% | -8.82% | -27.11% | 25.72% | 276.45% | 34.53% | 25.94% | 41.71% | - |
| Net Income | 59.97M | 54.07M | -79M | -130.2M | -734.4M | 12M | -1.1B | -152M | 93M | 405M | -1.21B | -208M | -304M | -5.87B | -646M | 1.16B | 3.41B | 2.46B | 1.89B | 1.3B | 631.48M | 374.04M | 205.61M | 51.83M | -148.99M | -28.47M | -6.21M | 10.5M | 6.41M | 361.2K | 0 |
| Net Margin % | 10.32% | 9.69% | -14.77% | -17.15% | -139.54% | 1.67% | -123.63% | -14.62% | 10.29% | 43.45% | -92.13% | -9.63% | -9.12% | -86.2% | -5.83% | 6.32% | 17.13% | 16.43% | 17.1% | 21.53% | 20.8% | 18.14% | 15.23% | 8.72% | -48.53% | -9.69% | -2.81% | 12.36% | 13.54% | 1.73% | - |
| Net Income Growth % | 269.89% | 168.44% | 39.32% | 82.27% | -6220% | 101.09% | -626.32% | -263.44% | -77.04% | 133.58% | -479.81% | 31.58% | 94.82% | -809.13% | -155.5% | -65.88% | 38.83% | 29.82% | 45.82% | 105.54% | 68.83% | 81.92% | 296.71% | 134.79% | -423.28% | -358.42% | -159.16% | 63.8% | 1674.37% | - | - |
| Net Income (Continuing) | 59.97M | 54.07M | -8.5M | 5.6M | -215.5M | 12M | -1.1B | -152M | 93M | 405M | -1.21B | -208M | -304M | -5.87B | -628M | 1.17B | 3.41B | 2.46B | 1.89B | 1.3B | 631.48M | 374.04M | 205.61M | 51.83M | -148.99M | -28.47M | -6.21M | 10.5M | 6.41M | 361.2K | 0 |
| Discontinued Operations | 0 | 0 | -70.5M | -135.8M | -518.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -18M | -7M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.10 | 0.09 | -0.13 | -0.22 | -1.35 | -0.30 | -1.97 | -0.25 | 0.15 | 0.74 | -2.30 | -0.32 | -0.58 | -11.18 | -1.23 | 2.22 | 6.34 | 4.31 | 3.30 | 2.26 | 1.10 | 0.63 | 0.36 | 0.10 | -0.32 | -0.06 | -0.01 | 0.03 | 0.02 | 0.00 | 0.00 |
| EPS Growth % | 267.62% | 169.23% | 40.91% | 83.7% | -350% | 84.77% | -688% | -266.67% | -79.73% | 132.17% | -618.75% | 44.83% | 94.81% | -808.94% | -155.41% | -64.98% | 47.1% | 30.61% | 46.02% | 105.45% | 74.6% | 75% | 260% | 131.25% | -432.45% | -351.88% | -153.2% | 49.7% | - | - | - |
| EPS (Basic) | - | 0.09 | -0.13 | -0.22 | -1.22 | 0.02 | -1.97 | -0.27 | 0.17 | 0.76 | -2.30 | -0.40 | -0.58 | -11.18 | -1.23 | 2.22 | 6.36 | 4.35 | 3.35 | 2.31 | 1.14 | 0.66 | 0.38 | 0.11 | -0.32 | -0.06 | -0.01 | 0.03 | 0.02 | 0.00 | 0.00 |
| Diluted Shares Outstanding | 593.19M | 597.59M | 591.47M | 592.5M | 639.49M | 631.44M | 561.3M | 614.36M | 616.47M | 545.89M | 525.26M | 651.3M | 527.68M | 525.17M | 524.16M | 524.19M | 538.33M | 569.76M | 574.16M | 572.83M | 573.04M | 589.06M | 565.9M | 501.57M | 463.75M | 474M | 465.82M | 419.92M | 384.54M | 308.44M | 340.81M |
| Basic Shares Outstanding | 586.74M | 592.25M | 591.47M | 584.54M | 578.65M | 570.61M | 561.3M | 553.86M | 540.48M | 532.89M | 525.26M | 526.3M | 527.68M | 525.17M | 524.16M | 524.1M | 535.99M | 564.49M | 565.06M | 559.78M | 552.93M | 567.31M | 541.08M | 478.42M | 463.75M | 474M | 465.82M | 393.68M | 384.54M | 308.44M | 340.81M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 72.38% | - |
Quick answers to the most common questions about buying BB stock.
For fiscal year 2026, BlackBerry Limited (BB) reported total revenue of $558.1M. This represents a 7693.7% increase compared to $7.2M in 1997.
BlackBerry Limited (BB) is profitable, generating $54.1M in net income for the fiscal year ending 2026 with a net profit margin of 9.7%.
BlackBerry Limited (BB) reported an operating income of $67.2M, resulting in an operating profit margin of 12.0%. This margin reflects the operational efficiency of the business before interest and taxes.
BlackBerry Limited (BB) generated $413.5M in gross profit for the year, representing a gross profit margin of 74.1%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Automotive production cycle sensitivity
Metrics are mathematically derived from official filings.
Revenue Growth Remains Highly Volatile
According to the provided financial data, BlackBerry's revenue trajectory exhibits significant inconsistency, with a 25.6% year-over-year growth in 2027Q1 contrasting sharply against the 16.8% contraction observed in 2025Q4, suggesting that the company's transition toward a software-centric model remains susceptible to lumpy contract recognition and legacy business decay.
The recent revenue acceleration appears driven by the scaling of IoT royalty streams, yet the historical volatility indicates that the company has not yet achieved a predictable, recurring revenue base. Investors should monitor whether the current growth rate is sustainable or merely a reflection of timing differences in large-scale automotive design wins.
Gross Margin Stability Masks Complexity
As reported in the income statement, BlackBerry has maintained a relatively stable gross margin profile, averaging approximately 74% over the last ten quarters, which suggests that the underlying software-heavy cost structure is resilient despite the ongoing divestiture of legacy intellectual property and service access fee revenue streams.
While the gross margin remains robust, the lack of significant expansion suggests that the company faces persistent pricing pressure in its cybersecurity segment. The ability to maintain these levels while shifting the revenue mix toward high-margin IoT royalties will be the primary determinant of future profitability.
Operating Leverage Remains Elusive Target
Based on the quarterly income statement figures, BlackBerry's operating income has fluctuated between a 32.4% loss and a 17.4% margin, indicating that the company has yet to demonstrate consistent operating leverage as SG&A expenses continue to consume a substantial portion of the gross profit generated each period.
The inability to consistently scale operating income alongside revenue growth suggests that the company's cost base remains bloated by the requirements of maintaining two distinct business units. Future margin improvement appears contingent on the successful execution of the planned business separation and subsequent reduction in corporate overhead.
Structural Risks in Competitive Markets
Analysis of the reported financials suggests that BlackBerry's reliance on the automotive sector for high-margin growth creates a concentrated risk, as evidenced by the 2025Q4 operating loss, which highlights how quickly profitability can evaporate when production volumes or enterprise IT spending cycles face macro-economic headwinds.
Short-sellers may focus on the company's inability to capture dominant market share in the cybersecurity space despite significant R&D investment. The persistent use of stock-based compensation, while moderate, further complicates the path to GAAP profitability and warrants caution regarding the quality of earnings in future periods.