BlackBerry’s QNX partners with NVIDIA on autonomous driving platform

WATERLOO, ONTARIO - BlackBerry Limited’s (NYSE:BB)(TSX:BB) QNX division, whose stock has surged over 64% in the past year and currently trades at $3.81, announced Wednesday it has become a key ecosystem partner for NVIDIA’s newly available DRIVE AGX Thor development kit, a platform designed for autonomous vehicle development. According to InvestingPro analysis, BlackBerry appears slightly undervalued based on its Fair Value assessment.

The NVIDIA DRIVE AGX Thor development kit integrates QNX OS for Safety 8, combining NVIDIA’s hardware capabilities with QNX’s automotive-certified operating system. The platform features the NVIDIA AGX Thor SoC, which delivers up to 2,000 FP4 performance for generative AI and 1,000 INT8 TFLOPS.

QNX OS for Safety is pre-certified to ISO 26262 ASIL-D and ISO 21434, meeting the automotive industry’s highest functional safety and security standards.

"As vehicles become more software-defined, developers are under pressure to deliver increasingly complex systems that still meet strict safety and security standards," said John Wall, COO and Head of Product, Engineering and Services at QNX. With a solid current ratio of 2.1 and moderate debt levels, BlackBerry maintains strong financial flexibility to support its technological innovations. InvestingPro subscribers can access 10+ additional key financial metrics and insights about BlackBerry’s financial health.

The partnership aims to provide developers with tools to accelerate the design, testing, and deployment of autonomous driving systems from research to commercial production.

QNX technology is currently used by major automotive manufacturers including BMW, Honda, Mercedes-Benz, Toyota, Volkswagen, and Volvo, with its software deployed in more than 255 million vehicles globally.

According to the company’s press release statement, the integration provides a foundation for building intelligent, secure, and certifiable systems essential for autonomous mobility. With annual revenue of $533.2 million and a market capitalization of $2.26 billion, BlackBerry continues to expand its automotive technology footprint. For comprehensive analysis of BlackBerry’s growth potential and financial outlook, access the detailed Pro Research Report available exclusively on InvestingPro.

In other recent news, BlackBerry reported quarterly revenue of $121.7 million, which, despite being a 1% decline year-over-year, surpassed consensus estimates of $112.3 million. The company also achieved an adjusted EBITDA of $16.4 million, significantly exceeding the expected $4.8 million, with government grants contributing $4.5 million to offset research and development costs. Raymond James maintained its Market Perform rating on BlackBerry following these results. Additionally, BlackBerry shareholders elected all seven director nominees at the company’s annual meeting, with directors Lisa Bahash and Lori O’Neill receiving notably high approval ratings. In a separate development, BlackBerry appointed cybersecurity veteran Barry Mainz to its Board of Directors, bringing 30 years of technology industry experience. Meanwhile, Medtronic announced the appointment of Chad Spooner as CFO of its diabetes business MiniMed, which is preparing for a spinoff. Spooner previously served as CFO at BIC, where he focused on innovation and operational efficiency. These developments provide insight into the strategic changes and financial outcomes for both companies.

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