In a related transaction, Giamatteo acquired 71,023 common shares through the vesting of restricted share units, although these acquisitions did not involve any cash exchange. This acquisition aligns with his continued role and commitment to the company.
The shares were sold as part of a plan to cover withholding taxes upon the vesting of restricted share units. Following this transaction, Giamatteo retains ownership of 490,761 shares in BlackBerry (NYSE:BB). While the company isn't currently profitable, InvestingPro data shows analysts expect BlackBerry to return to profitability this year. Get access to 8 more exclusive InvestingPro Tips and comprehensive analysis with an InvestingPro subscription.
In a related transaction, Giamatteo acquired 71,023 common shares through the vesting of restricted share units, although these acquisitions did not involve any cash exchange. This acquisition aligns with his continued role and commitment to the company.
In other recent news, BlackBerry Limited has been making significant strides in its business operations. The company's Q2 financial results for fiscal year 2025 exceeded expectations with a total revenue of $145 million, despite reporting a non-GAAP operating loss of $4 million. Looking ahead to Q3, BlackBerry expects IoT revenue of $56 to $60 million and Cyber revenue of $86 to $90 million, aiming to achieve positive cash flow and EBITDA in Q4. The company has also announced a partnership with Microsoft (NASDAQ:MSFT) to expedite the development of Software-Defined Vehicles (SDVs), which is expected to integrate the QNX Software (ETR:SOWGn) Development Platform (SDP) 8.0 with Microsoft Azure. This collaboration aims to streamline the creation, testing, and integration of software essential for the next wave of automotive technology. Furthermore, BlackBerry has rebranded its IoT division to QNX, aiming to strengthen its position in the automotive and embedded software markets. Analysts from Baird, RBC (TSX:RY) Capital, and Canaccord Genuity (TSX:CF) have adjusted their financial outlooks for BlackBerry, raising their price targets while maintaining a neutral outlook on the stock. These developments reflect BlackBerry's recent sale of its cybersecurity unit, Cylance, to Arctic Wolf, and the dismissal of a lawsuit filed by former executive Neelam Sandhu.
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