BLACKBERRY Ltd
BB · Services-Prepackaged Software · 586.1M shares · -1%/yr ↓ buyback · EDGAR filings ↗
Reference price $3.56 · est. market cap ~$2.1B — last insider sale, 2026-04-04 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C62QNX/cybersecurity software vendor mid-turnaround with high gross margins but slow growth and thin cash flow.
Strengths
- High gross margin — 76.2%
- Profitable this year — operating margin 8.8%, net margin 9.7%
Risks
- Slow growth — revenue +2.7% (14th)
- Earnings volatility — net income -167.3% (10th)
- Thin operating cash flow — OCF margin 9.2% (19th)
Notable findings
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Strong balance sheetStrong balance sheet — $418M cash & investments
- Notable holderHeld by 5 notable fund(s): RENAISSANCE TECHNOLOGIES LLC, CITADEL ADVISORS LLC, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
- Insider sellingInsider selling — 19 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$2M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
76.2%
Operating margin
8.8%
Net margin
9.7%
Return on equity
7.1%
Return on assets
4.3%
ROIC
4.0%
Revenue growth (QoQ)
-2.0%
Debt / equity
0.3×
Net debt / EBITDA
-3.4×
Current ratio
2.1×
Free cash flow
$46M
EBITDA
$66M
Tangible book value
$227M
Cash & investments
$418M
Stock comp / revenue
4.2%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-04-04 | Armstrong-Owen Jennifer | Sell | 30K | $3.56 |
| 2026-04-04 | Foote Tim | Option exercise | 20K | — |
| 2026-04-04 | Foote Tim | Sell | 6.8K | $3.56 |
| 2026-04-04 | Armstrong-Owen Jennifer | Option exercise | 72K | — |
| 2026-04-02 | Foote Tim | Option exercise | 7.4K | — |
| 2026-04-02 | Foote Tim | Sell | 2.5K | $3.56 |
| 2026-04-02 | GIAMATTEO JOHN JOSEPH | Option exercise | 66K | — |
| 2026-04-02 | GIAMATTEO JOHN JOSEPH | Sell | 27K | $3.56 |
| 2026-04-02 | Armstrong-Owen Jennifer | Option exercise | 6.1K | — |
| 2026-04-02 | Armstrong-Owen Jennifer | Sell | 2.9K | $3.56 |
| 2026-04-02 | Kurtz Philip S. | Option exercise | 7.4K | — |
| 2026-04-02 | Kurtz Philip S. | Sell | 4.1K | $3.56 |
| 2026-01-06 | GIAMATTEO JOHN JOSEPH | Sell | 30K | $3.88 |
| 2026-01-06 | Foote Tim | Sell | 811 | $3.88 |
| 2026-01-06 | Foote Tim | Option exercise | 4.6K | — |
| 2026-01-06 | Foote Tim | Sell | 1.6K | $3.88 |
| 2026-01-06 | GIAMATTEO JOHN JOSEPH | Option exercise | 138K | — |
| 2026-01-06 | GIAMATTEO JOHN JOSEPH | Sell | 58K | $3.88 |
| 2026-01-06 | GIAMATTEO JOHN JOSEPH | Option exercise | 71K | — |
| 2026-01-06 | Foote Tim | Option exercise | 2.4K | — |
| 2026-01-02 | GIAMATTEO JOHN JOSEPH | Option exercise | 73K | — |
| 2026-01-02 | Foote Tim | Option exercise | 4.9K | — |
| 2026-01-02 | Foote Tim | Sell | 2.9K | $3.82 |
| 2026-01-02 | Foote Tim | Option exercise | 35K | — |
| 2026-01-02 | Foote Tim | Sell | 21K | $3.82 |
| 2026-01-02 | Foote Tim | Option exercise | 7.4K | — |
| 2026-01-02 | Foote Tim | Sell | 4.5K | $3.82 |
| 2026-01-02 | Armstrong-Owen Jennifer | Option exercise | 6.1K | — |
| 2026-01-02 | Armstrong-Owen Jennifer | Sell | 3.2K | $3.82 |
| 2026-01-02 | Kurtz Philip S. | Option exercise | 19K | — |
| 2026-01-02 | Kurtz Philip S. | Sell | 7.8K | $3.89 |
| 2026-01-02 | Kurtz Philip S. | Option exercise | 7.4K | — |
| 2026-01-02 | Kurtz Philip S. | Sell | 3.3K | $3.89 |
| 2026-01-02 | GIAMATTEO JOHN JOSEPH | Sell | 42K | $3.82 |
| 2026-01-02 | GIAMATTEO JOHN JOSEPH | Option exercise | 262K | — |
| 2026-01-02 | GIAMATTEO JOHN JOSEPH | Sell | 151K | $3.82 |
| 2026-01-02 | GIAMATTEO JOHN JOSEPH | Option exercise | 66K | — |
| 2026-01-02 | GIAMATTEO JOHN JOSEPH | Sell | 39K | $3.82 |
| 2025-10-02 | Foote Tim | Option exercise | 7.4K | — |
| 2025-10-02 | Foote Tim | Sell | 3.2K | $4.62 |
| 2025-10-02 | Armstrong-Owen Jennifer | Option exercise | 6.1K | — |
| 2025-10-02 | Armstrong-Owen Jennifer | Sell | 2.6K | $4.62 |
| 2025-10-02 | Kurtz Philip S. | Option exercise | 7.4K | — |
| 2025-10-02 | Kurtz Philip S. | Sell | 4.3K | $4.61 |
| 2025-10-02 | ERIKSSON MATTIAS | Option exercise | 12K | — |
| 2025-10-02 | ERIKSSON MATTIAS | Sell | 5.9K | $4.62 |
| 2025-10-02 | GIAMATTEO JOHN JOSEPH | Option exercise | 66K | — |
| 2025-10-02 | GIAMATTEO JOHN JOSEPH | Sell | 28K | $4.62 |
| 2025-09-28 | Kurtz Philip S. | Option exercise | 52K | — |
| 2025-09-28 | Kurtz Philip S. | Option exercise | 27K | — |
| 2025-09-28 | Kurtz Philip S. | Sell | 29K | $4.95 |
| 2025-09-28 | Kurtz Philip S. | Sell | 15K | $4.95 |
| 2025-07-02 | GIAMATTEO JOHN JOSEPH | Sell | 27K | $4.32 |
| 2025-07-02 | ERIKSSON MATTIAS | Option exercise | 12K | — |
| 2025-07-02 | ERIKSSON MATTIAS | Sell | 5.6K | $4.32 |
| 2025-07-02 | Armstrong-Owen Jennifer | Option exercise | 6.1K | — |
| 2025-07-02 | Armstrong-Owen Jennifer | Sell | 2.5K | $4.32 |
| 2025-07-02 | GIAMATTEO JOHN JOSEPH | Option exercise | 66K | — |
| 2025-07-02 | Foote Tim | Option exercise | 7.4K | — |
| 2025-07-02 | Foote Tim | Sell | 3.0K | $4.32 |
| 2025-07-02 | Kurtz Philip S. | Option exercise | 7.4K | — |
| 2025-07-02 | Kurtz Philip S. | Sell | 4.1K | $4.34 |
| 2025-06-24 | Kurtz Philip S. | Option exercise | 35K | — |
| 2025-06-24 | Kurtz Philip S. | Sell | 16K | $5.25 |
| 2025-04-04 | Armstrong-Owen Jennifer | Option exercise | 72K | — |
| 2025-04-04 | Armstrong-Owen Jennifer | Sell | 30K | $2.99 |
| 2025-04-04 | Foote Tim | Option exercise | 20K | — |
| 2025-04-04 | Foote Tim | Sell | 5.2K | $2.99 |
| 2025-04-01 | Foote Tim | Option exercise | 2.5K | — |
| 2025-04-01 | Foote Tim | Sell | 708 | $3.35 |
| 2025-04-01 | Foote Tim | Option exercise | 4.8K | — |
| 2025-04-01 | Foote Tim | Sell | 1.4K | $3.35 |
| 2025-01-24 | Chai Jay P. | Sell | 24K | $4.19 |
| 2025-01-06 | ERIKSSON MATTIAS | Option exercise | 38K | — |
| 2025-01-06 | ERIKSSON MATTIAS | Sell | 13K | $4.00 |
| 2025-01-06 | GIAMATTEO JOHN JOSEPH | Option exercise | 71K | — |
| 2025-01-06 | GIAMATTEO JOHN JOSEPH | Sell | 29K | $4.00 |
| 2025-01-06 | Dickman Marjorie | Option exercise | 15K | — |
| 2025-01-06 | Dickman Marjorie | Sell | 5.7K | $4.00 |
| 2025-01-06 | Foote Tim | Option exercise | 2.4K | — |
| 2025-01-06 | Foote Tim | Sell | 745 | $4.00 |
| 2025-01-06 | Chai Jay P. | Option exercise | 3.3K | — |
| 2025-01-06 | Chai Jay P. | Sell | 2.1K | $4.02 |
| 2025-01-03 | Dickman Marjorie | Option exercise | 2.1K | — |
| 2025-01-03 | Dickman Marjorie | Sell | 738 | $4.00 |
| 2025-01-03 | Dickman Marjorie | Option exercise | 6.2K | — |
| 2025-01-03 | Dickman Marjorie | Sell | 2.1K | $4.00 |
| 2025-01-03 | Kurtz Philip S. | Option exercise | 2.0K | — |
| 2025-01-03 | Kurtz Philip S. | Sell | 1.0K | $3.97 |
| 2025-01-03 | Kurtz Philip S. | Option exercise | 670 | — |
| 2025-01-03 | Kurtz Philip S. | Sell | 355 | $3.97 |
| 2025-01-03 | Chai Jay P. | Option exercise | 549 | — |
| 2025-01-03 | Chai Jay P. | Sell | 324 | $3.97 |
| 2025-01-03 | Chai Jay P. | Option exercise | 1.6K | — |
| 2025-01-03 | Chai Jay P. | Sell | 934 | $3.97 |
| 2025-01-03 | ERIKSSON MATTIAS | Option exercise | 5.5K | — |
| 2025-01-03 | ERIKSSON MATTIAS | Sell | 1.8K | $4.00 |
| 2025-01-03 | ERIKSSON MATTIAS | Option exercise | 16K | — |
| 2025-01-03 | ERIKSSON MATTIAS | Sell | 5.4K | $4.00 |
| 2025-01-03 | GIAMATTEO JOHN JOSEPH | Option exercise | 107K | — |
| 2025-01-03 | GIAMATTEO JOHN JOSEPH | Sell | 43K | $4.00 |
| 2025-01-03 | Foote Tim | Option exercise | 1.6K | — |
| 2025-01-03 | Foote Tim | Sell | 467 | $4.00 |
| 2025-01-02 | ERIKSSON MATTIAS | Option exercise | 39K | — |
| 2025-01-02 | ERIKSSON MATTIAS | Sell | 14K | $3.68 |
| 2025-01-02 | Foote Tim | Option exercise | 4.9K | — |
| 2025-01-02 | Foote Tim | Sell | 1.6K | $3.68 |
| 2025-01-02 | GIAMATTEO JOHN JOSEPH | Option exercise | 335K | — |
| 2025-01-02 | GIAMATTEO JOHN JOSEPH | Sell | 156K | $3.68 |
| 2025-01-02 | Dickman Marjorie | Option exercise | 15K | — |
| 2025-01-02 | Dickman Marjorie | Sell | 5.6K | $3.68 |
| 2025-01-02 | Kurtz Philip S. | Option exercise | 19K | — |
| 2025-01-02 | Kurtz Philip S. | Sell | 12K | $3.70 |
| 2025-01-02 | Chai Jay P. | Option exercise | 4.9K | — |
| 2025-01-02 | Chai Jay P. | Sell | 3.1K | $3.70 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-25 | 2026-06-25 | 0001070235-26-000074 ↗ |
| 8-K | 2026-06-25 | 2026-06-25 | 0001070235-26-000071 ↗ |
| 10-Q | 2026-06-25 | 2026-05-31 | 0001070235-26-000076 ↗ |
| 8-K | 2026-05-08 | 2026-05-08 | 0001070235-26-000051 ↗ |
| 10-K | 2026-04-09 | 2026-02-28 | 0001070235-26-000039 ↗ |
| 8-K | 2026-04-09 | 2026-04-09 | 0001070235-26-000029 ↗ |
| 10-Q | 2025-12-19 | 2025-11-30 | 0001070235-25-000198 ↗ |
| 8-K | 2025-12-18 | 2025-12-18 | 0001070235-25-000196 ↗ |
| 8-K | 2025-11-18 | 2025-11-17 | 0001070235-25-000178 ↗ |
| 8-K | 2025-09-25 | 2025-09-25 | 0001070235-25-000173 ↗ |
| 10-Q | 2025-09-25 | 2025-08-31 | 0001070235-25-000176 ↗ |
| 8-K | 2025-08-27 | 2025-08-23 | 0001070235-25-000151 ↗ |