MEMORIAL DAY FLASH SALE: 50% OFF BENZINGA PRO
As we honor our freedom, take a stand today. Secure the financial freedom that both you and your family deserve. Get exclusive market moving news for just 50% off. Claim your 50% discount here.
- BlackBerry Ltd (NYSE:BB) announced long-term financial targets yesterday, expecting 3-year CAGR revenue growth of 12% to 15% from FY23-FY24.
- For 2024, the company expects revenues of $665 million-$700 million (consensus: $701.40 million), with projected revenues of $240 million - $250 million from IoT and $425 million - $450 million from Cybersecurity.
- For 2026, Blackberry projects revenues of $880 million - $960 million, with expected revenues of $340 million - $370 million from IoT and $540 million - $590 million from Cybersecurity.
- BlackBerry projects an average increase in adjusted gross margin of over 200 basis points per year to FY26.
- Also, the company expects significant improvements in adjusted EPS loss and cash flow usage in FY24 and targets to achieve adjusted profitability in Q4 FY24.
- The company expects to generate positive full-year adjusted EPS and cash flow from FY25.
- In March, BlackBerry reported Q4 FY23 revenue of $151.00 million, missing the consensus of $156.65 million, and adjusted EPS loss of $(0.02), beating the consensus loss of $(0.07).
- Price Action: BB shares are trading flat at $5.38 premarket on the last check Thursday.
MEMORIAL DAY FLASH SALE: 50% OFF BENZINGA PRO
As we honor our freedom, take a stand today. Secure the financial freedom that both you and your family deserve. Get exclusive market moving news for just 50% off. Claim your 50% discount here.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!