The
The projected revenues outlined during its annual analyst summit represent a 13 per cent compounded annual growth rate over five years.
Cybersecurity is expected to be the largest component, increasing to
However, its compounded annual growth is forecast to be half of the 20 per cent CAGR for IoT. IoT revenues, excluding potential contributions from BlackBerry IVY, are expected to reach
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 per cent of revenue on research and development in 2023, and generating positive adjusted earnings per share and cash flow beginning in 2025.
BlackBerry will provide the auto parts manufacturer with its QNX software as well as engineering services.
The value of the agreement wasn't disclosed.
"With software now being a driving force in the automotive industry, delivering compelling solutions that are seamlessly integrated into a vehicle allows OEMs to differentiate themselves," stated
"Magna’s ADAS expertise and unique ability to integrate system solutions into various vehicle applications gives us a competitive advantage,” said
This report by
Companies in this story: (TSX:BB, TSX:MG)
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