BlackBerry (BB) has forecast that its revenues will nearly double over the next five years as
growth in cybersecurity and the internet of things (IoT) accelerates.
The Waterloo, Ont.-based technology company, which reports its earnings in U.S. dollars, says
it expects its annual revenues to reach $1.2 billion U.S. in fiscal 2027, nearly double the $655
million U.S. earned last year.
The projected revenues were outlined during BlackBerry’s annual analyst summit. If the
projections prove accurate, it would represent a 13% compounded annual growth rate (CAGR)
over five years.
Cybersecurity is expected to be the largest driver of growth for the company, increasing to $770
million U.S. in five years from $477 million U.S. in fiscal 2022.
Internet of Things revenues are forecast to reach $443 million U.S., more than double the $178
million earned in 2021.
BlackBerry is also targeting an average increase of at least 100 basis points in adjusted (non-
GAAP) gross margin annually to fiscal 2027, investing about 30% of revenue on research and
development in 2023, and generating positive adjusted earnings per share and cashflow
beginning in 2025.
Year to date, BlackBerry’s stock is down 36% at $7.59 a share.
