BlackBerry expects up to 54% revenue growth in 2026, shares rise

A Blackberry sign is seen in front of their offices on the day of their annual general meeting for shareholders in Waterloo

(Reuters) - BlackBerry Ltd on Wednesday forecast as much as 54% jump in 2026 sales from current year on the back of growth in its cybersecurity business, sending shares up 5%.

The security software and services provider expects 2026 revenue to be between $880 million and $960 million.

"Gross margin for the Cybersecurity business unit is expected to increase by between 400 bps and 600 bps by FY26," it said.

BlackBerry in December said revenue from its cybersecurity business would remain flat in the first half of 2023, but grow in the latter half.

The company on Wednesday also reiterated its 2024 revenue forecast of $665 million to $700 million, compared with analysts' estimates of $701 million, according to Refinitiv data.

(Reporting by Tiyashi Datta in Bengaluru; Editing by Shounak Dasgupta and Vinay Dwivedi)