BlackBerry Limited is set to launch a new share buyback program on May 12, following a surge in its stock price to a one-year high. The Canadian software company has received approval from the Toronto Stock Exchange to repurchase up to 26,785,714 common shares under a normal course issuer bid, a standard mechanism in Canada for such programs. The buyback comes on the heels of strong performance from its QNX embedded software division, which has drawn renewed investor interest.
The company's U.S.-listed shares recently touched their highest level in over a year, with the last quote at $6.37. This rally has been fueled by positive QNX results and the company's declaration that its turnaround is complete, with expectations of positive operating cash flow in fiscal 2027. The buyback program is designed to provide flexibility, allowing BlackBerry to repurchase shares on multiple exchanges, including the TSX, NYSE, and alternative trading platforms in Canada and the U.S. Any repurchased shares will be cancelled.
In a May 8 filing, BlackBerry stated that the buyback could help counter dilution from equity awards and take advantage of moments when its share price may not fully reflect the business's value. The program will run until May 11, 2027, but the company has not committed to a fixed number of shares, emphasizing that decisions on quantity and timing will be at its discretion and subject to exchange rules and securities regulations.
BlackBerry reported 586,061,407 common shares outstanding as of April 30, with a public float of 584,830,432 shares. Since the start of its previous buyback in May 2025, the company has already repurchased 18,136,158 shares at a weighted average price of $3.85 each. The new buyback allows for up to 26.8 million shares, representing about 4.6% of the current float.
The buyback announcement follows a strong earnings report in April, where BlackBerry posted QNX revenue of $78.7 million for the fourth quarter, up 20% year-over-year. The division's royalty backlog stood at approximately $950 million. Total fourth-quarter revenue reached $156 million, beating analyst expectations. Chief Executive John Giamatteo noted that QNX's presence in regulated, mission-critical systems makes it "much more immune" to broader software market disruptions.
BlackBerry is ramping up investment in QNX, particularly in sales and marketing, to target new applications in robotics, medical devices, and physical AI—AI that powers machines operating in the real world. The company has highlighted its collaboration with Nvidia, with QNX's OS for Safety 8.0 to be integrated into Nvidia's IGX Thor and Halos Safety Stack, aiming at regulated AI in robotics and industrial sectors. QNX President John Wall emphasized that "safety and determinism cannot be afterthoughts" as autonomy advances.
QNX competes with Wind River, SYSGO, and Green Hills Software in the real-time operating system market for safety-critical applications. ABI Research senior analyst George Chowdhury noted that the market for safety-certified RTOS platforms is becoming increasingly strategic, with higher safety hurdles for robotics manufacturers. BlackBerry will showcase QNX-powered robotic systems at the Robotics Summit & Expo in Boston on May 27-28, featuring LIDAR, vision sensing, and hardware from Intel and Nvidia.
Despite the recent stock gains, some analysts remain cautious. Baird maintained a Neutral rating with a $5 price target, while Canaccord Genuity trimmed its target to $4.40 from $4.60, keeping a Hold rating. Both firms pointed to QNX's role in safety-focused embedded software and physical AI as key areas to watch. The buyback program adds another layer of potential support for the stock, but its impact will depend on the company's execution and market conditions.
