BlackBerry Ltd (NYSE:BB) is advancing towards achieving a positive cash flow, announcing significant steps in this direction.
It aims for $100 million in annualized net profit improvements through cost reductions and margin expansion, building on the $50 million annualized cost savings disclosed in the previous quarter.
About $55 million of the $100 million annualized target has already been identified and implemented in the current quarter.
BlackBerry anticipates sequential improvements in operating cash flow usage and expects to be operating cash flow positive by the fourth quarter of fiscal year 2025.
The company has made notable progress in creating independent divisions for its IoT and Cybersecurity businesses, including forming leadership teams and beginning the separation process with the help of leading management consultancy firm Alvarez & ...