BlackBerry targets revenue of more than $1 billion by 2027

BlackBerry Ltd.
BB,
-1.19%
late Wednesday projected annual revenue growth of 13% through fiscal 2027, hoping to be “approaching” breakeven adjusted per-share earnings in fiscal 2024. It anticipates to post a modest adjusted loss and be cash-flow negative in fiscal 2023 due to its investment plans, it said. The goal is to be profitable on an adjusted basis in 2025, BlackBerry said. BlackBerry guided for revenue of $886 million in fiscal 2025, from $655 million in fiscal 2022, and of $1.2 billion by fiscal year 2027. The company plans to invest about 30% of revenue on research and development in fiscal 2023, it said. BlackBerry said last month it had reached an agreement in principle to settle for $165 million a class-action lawsuit brought against some of its former officers in a New York court.