BlackBerry achieved QQ1 2026 revenue of $121.7 million with a gross margin of 74.2%, reflecting a favorable software-centric mix within Cybersecurity, IoT, and Licensing. Despite the topline modestly contracting YoY (-1.38%) and sequentially (-15.43%), the company reported a positive operating margin (1.64%) and a net income of $1.9 million, supported by an EBITDA of $13.5 million. The period showcases improved operating leverage on a lean cost base, yet profitability remains modest as management continues to invest in growth initiatives and platform enhancements._cash flow remained pressured, with negative operating cash flow of $18.0 million and negative free cash flow of $18.0 million, driven largely by working capital dynamics and modest capital investment. The balance sheet remains solid, with a net cash position of approximately $266 million (cash of $292.5 million vs. total debt of $26.3 million), enabling financial flexibility while the company pursues AI-driven security offerings and key technology adjacencies._