Jim.
Nothing really new going on at BB; the stock is up nicely over the past year, and BB still has a bit of net cash. EPS is growing again, expected to be 13c in F2026 and 17c in F2027. BlackBerry is advancing toward more stable, positive top-line growth, driven largely by QNX operating-system sales. In 2Q, QNX revenue rose 15.4% year over year on strong royalties, as auto-industry trends improved vs. 1Q's heightened uncertainty. The 2H order pipeline looks solid, though management cautioned auto headwinds persist. In Secure Communications, sales fell 9.9% on tough year-ago comparisons from a government device-upgrade cycle, but grew 0.7% sequentially on stable churn in Unified Endpoint Management. SecuSmart and AdHoc trends are encouraging but depend on public-sector users, where sales can be unpredictable. Based on higher-than-expected 2Q results, BlackBerry raised the midpoint of 2026 revenue guidance by $7 million and Ebitda by $12 million. Things are OK, but not enough for a strong endorsement today.