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Calgary Herald
23-05-2025
- Business
- Calgary Herald
Balsillie tapped to help lead Manitoba's new technology task force
Article content Former BlackBerry Ltd. co-chief executive Jim Balsillie will help spearhead an innovation and productivity task force aimed at setting Manitoba's technology strategy, the government announced this week. Article content '(These) efforts will position Manitoba as a leader in 21st-century digital governance and economic competitiveness,' said Mike Moroz, Manitoba's innovation and new technology minister, who will co-chair the task force. Article content Article content 'But Donald Trump has laid bare the need for our businesses (provincially) and nationally to have more sovereign control,' Balsillie said. Article content That, he added, means controlling the AI, the related intellectual property and the companies that use it. Article content The task force is set to meet over the next six months and create a strategic plan that will act as a north star for the province's innovation and productivity efforts. Article content Other committee members include Manitoba Chamber of Commerce's Clara Buelow; Gautam Srivastava, a professor of computer science at Brandon University; and Debra Jonasson-Young, the executive director of entrepreneurship at the Asper School of Business. Article content Article content Prime minister Mark Carney recently announced the creation of Canada's first-ever cabinet for AI and digital innovation, appointing former journalist Evan Solomon to the role, signalling the importance of tech for this government. Article content Article content While Balsillie declined to say how much Manitoba would spend on its tech initiatives, the federal government's tech mandate means that 'you're going to see a lot of money on the table,' he said. Article content Alignment with Ottawa will be a major part of the group's work, but Balsillie said he is waiting to see how new Prime Minister Mark Carney's government follows through on his promise to transform the country's economy. Article content
Yahoo
23-05-2025
- Business
- Yahoo
Balsillie tapped to help lead Manitoba's new technology task force
Former BlackBerry Ltd. co-chief executive Jim Balsillie will help spearhead an innovation and productivity task force aimed at setting Manitoba's technology strategy, the government announced this week. '(These) efforts will position Manitoba as a leader in 21st-century digital governance and economic competitiveness,' said Mike Moroz, Manitoba's innovation and new technology minister, who will co-chair the task force. Last November, Manitoba Premier Wab Kinew created a new innovation and technology department in a bid to advance the province's tech sector and encourage the use of new technologies within government. Balsillie, who founded the Council of Canadian Innovators (CCI), said that Kinew has long had his eye on growing tech in the province. 'But Donald Trump has laid bare the need for our businesses (provincially) and nationally to have more sovereign control,' Balsillie said. That, he added, means controlling the AI, the related intellectual property and the companies that use it. The task force is set to meet over the next six months and create a strategic plan that will act as a north star for the province's innovation and productivity efforts. Other committee members include Manitoba Chamber of Commerce's Clara Buelow; Gautam Srivastava, a professor of computer science at Brandon University; and Debra Jonasson-Young, the executive director of entrepreneurship at the Asper School of Business. Prime minister Mark Carney recently announced the creation of Canada's first-ever cabinet for AI and digital innovation, appointing former journalist Evan Solomon to the role, signalling the importance of tech for this government. Balsillie-owned golf venture partners with Saudi developer to build Middle East luxury resorts Opinion: Ottawa needs a new industrial innovation policy While Balsillie declined to say how much Manitoba would spend on its tech initiatives, the federal government's tech mandate means that 'you're going to see a lot of money on the table,' he said. Alignment with Ottawa will be a major part of the group's work, but Balsillie said he is waiting to see how new Prime Minister Mark Carney's government follows through on his promise to transform the country's economy. 'They say they want to change Canada,' Balsillie said. 'What does their vision of a changed country look like in terms of … what we have to do to be more sovereign and secure?' • Email: ylau@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Winnipeg Free Press
23-05-2025
- Business
- Winnipeg Free Press
Province unveils innovation, productivity task force with eye on AI, IP
By the end of the year, Manitoba should have a strategy on artificial intelligence, data security and future innovation. The provincial government unveiled an innovation and productivity task force — comprised of industry members — to oversee the strategic plan's creation. 'The world has changed seismically over the last 30 years from a traditional production economy to one that's based on intangibles of intellectual property and artificial intelligence and data,' said Jim Balsillie, who will co-chair the new group with provincial Innovation Minister Mike Moroz. Balsillie chairs the Council of Canadian Innovators and is former co-chief executive of BlackBerry Ltd. The task force, which includes seven more members, will provide a swath of recommendations to government. Balsillie said he was tapped by Premier Wab Kinew months ago to spearhead a plan ensuring Manitoba's economy is 'prosperous and secure and safe' in the changing world. He and peers will look at potential protections as artificial intelligence use grows and the infrastructure needed to foster AI use. The group will delve into intellectual property and sovereignty within Manitoba. 'Being more sovereign, being more value-add, has been a priority for decades,' Balsillie said. 'But it's been laid bare in the last couple months.' The task force will meet every couple weeks over the next six months. The team held its first meeting Wednesday. Determining who to reach out to, and what, exactly, they need to research to fulfill the premier's vision is a journey they're just beginning, Balsillie relayed. The province listed government agencies, industry experts, researchers and Indigenous communities as groups that'll be involved in the strategy's creation. A plan should be completed by November, Balsillie confirmed. 'I have every confidence the everybody's stepping up and going to meet the deadline.' Gautam Srivastava, a Brandon University computer science professor, is one of the task force members. He researches artificial intelligence and data security and privacy. Srivastava considers it a 'strategic time' to be building such a report. 'Everyone wants a piece of this artificial intelligence and data analytics pie,' he said. 'I think our agility here in Manitoba, to create an ecosystem to provide that, could be really prosperous.' If Manitoba can offer computation and infrastructure for computation, it'll draw entrepreneurs, Srivastava said. He plans to research education opportunities — like additive post-secondary programs — in his task force position. Other task force members include Adam Herstein, a partner at Pitblado Law; Clara Buelow, Manitoba Chambers of Commerce communications director and previous lead of the Digital Manitoba Policy Initiative; Jacqueline Keena, managing director of Enterprise Machine Intelligence Learning Initiative (EMILI); Gerry Price, president of Price Industries; Debra Jonasson-Young, executive director of entrepreneurship at the Stu Clark Centre for Entrepreneurship in the University of Manitoba; and Ernest Cholakis, founder of Cholakis Dental Group. The province launched its department of innovation and new technology in November. Gabrielle PichéReporter Gabrielle Piché reports on business for the Free Press. She interned at the Free Press and worked for its sister outlet, Canstar Community News, before entering the business beat in 2021. Read more about Gabrielle. Every piece of reporting Gabrielle produces is reviewed by an editing team before it is posted online or published in print — part of the Free Press's tradition, since 1872, of producing reliable independent journalism. Read more about Free Press's history and mandate, and learn how our newsroom operates. Our newsroom depends on a growing audience of readers to power our journalism. If you are not a paid reader, please consider becoming a subscriber. Our newsroom depends on its audience of readers to power our journalism. Thank you for your support.
Globe and Mail
10-04-2025
- Business
- Globe and Mail
BCE Inc Stock Outlook: Tariff Risks, Analyst Ratings & Investment Strategy
BCE Inc. (BCE:CA), a leading Canadian telecommunications and media company, is currently navigating a complex international trade environment shaped by recent tariff announcements from the United States, Canada, and China. This article explores how these developments may influence BCE's operations and overall stock outlook. Impact of Recent Tariffs on BCE Inc: The U.S. President announced a 90-day pause on certain reciprocal tariffs, while simultaneously increasing tariffs on Chinese imports. Canada, notably, has been exempted from these reciprocal tariff measures. Given that BCE's primary operations are based in Canada and serve Canadian consumers, the exemption suggests minimal direct impact on its core business. Investing is all about making informed decisions, and now you can do it for less. Get 70% off Stock Target Advisor and start optimizing your portfolio today. Grab your discount now! However, the broader implications of escalating trade tensions, especially between the U.S. and China, could affect global economic sentiment. This, in turn, may influence consumer behavior and capital investment patterns in Canada, indirectly impacting BCE's growth trajectory and financial planning. BCE's reliance on imported technology and equipment, especially for its infrastructure development, could also come under pressure if global supply chains become more costly or disrupted due to broader tariff dynamics. Learn More: How US Tariffs Are Reshaping BlackBerry Ltd's Financial Outlook Stock Target Advisor's Analysis on BCE Inc: As of April 2025, BCE's stock is priced at approximately C$29.59. Analyst consensus rates the stock as a 'Hold,' with an average twelve-month target price of C$38.82, suggesting a potential upside of over 30%. Analyst Ratings Conclusion: BCE Inc. appears to be well-positioned to weather the immediate implications of the newly announced tariff policies, thanks in part to Canada's exemption from the U.S. reciprocal measures. That said, the ripple effects of rising global trade tensions, particularly between major economies like the U.S. and China, may create indirect challenges for BCE in the form of inflationary pressures, supply chain volatility, and shifting consumer sentiment. This article contains syndicated content. We have not reviewed, approved, or endorsed the content, and may receive compensation for placement of the content on this site. For more information please view the Barchart Disclosure Policy here.
Yahoo
03-04-2025
- Business
- Yahoo
BlackBerry Ltd (BB) Q4 2025 Earnings Call Highlights: Surpassing Expectations Across All Divisions
Total Revenue: $141.7 million, beating the top end of guidance. QNX Revenue: $65.8 million, exceeding guidance. Secure Communications Revenue: $67.3 million, surpassing guidance. Licensing Revenue: $8.6 million, above expectations. Adjusted EBITDA: $21.1 million for Q4; $39.3 million for the full fiscal year. EPS: Positive $0.03 for Q4; Positive $0.02 for the full fiscal year. Operating Cash Flow: $42 million, significantly exceeding expectations. Total Cash and Investments: Increased by $144 million to $410 million. QNX Gross Margin: 83% for Q4; 84% for the full fiscal year. Secure Communications Gross Margin: 64% for Q4; 66% for the full fiscal year. QNX Royalty Backlog: Approximately $865 million, indicating future revenue growth. Secure Communications ARR: $208 million, up $6 million year over year. Net Cash Position: In excess of $200 million. Warning! GuruFocus has detected 5 Warning Signs with BB. Release Date: April 02, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. BlackBerry Ltd (NYSE:BB) exceeded revenue expectations across all divisions, with total company revenues reaching $141.7 million. The QNX division achieved a strong performance, with revenue beating guidance at $65.8 million and a growing royalty backlog of approximately $865 million. The Secure Communications division also surpassed expectations, with Q4 revenue at $67.3 million and new business secured with government agencies and leading banks. BlackBerry Ltd (NYSE:BB) successfully closed the Cylance transaction with Arctic Wolf, receiving $80 million in cash and 5.5 million common shares, which strengthened its balance sheet. The company achieved a significant cost reduction, exceeding its target by removing over $150 million from its run rate, leading to improved profitability with adjusted EBITDA of $39.3 million for the year. Despite strong performance, the Secure Communications division experienced a year-over-year revenue decline in Q4 due to a tough comparison with the previous year's large deal with the Malaysian government. The QNX division faces uncertainty in the automotive sector due to recent tariff changes, which could indirectly impact BlackBerry Ltd (NYSE:BB) through supply chain and macroeconomic demand challenges. The Secure Communications division's annual recurring revenue decreased by $7 million sequentially, and the dollar-based net retention rate decreased marginally. Licensing revenue, while above guidance, was affected by a one-time bad debt expense due to a legacy contract dispute, impacting adjusted EBITDA. The company anticipates a seasonal low for cash flow in Q1, with expected operating cash usage between $20 million to $30 million, influenced by various one-time factors. Q: Can you elaborate on the impact of tariffs on auto OEMs and any changes in production or vehicle introductions due to this uncertainty? A: John Giamatteo, President - Cyber Security: We haven't seen any significant supply chain issues reported by our large customers. Over 50% of our revenue comes from outside the US, providing some insulation from US-specific impacts. However, the situation is fluid, and we remain vigilant. Q: How significant is the US federal market for your secure communications division, and have you seen any impact from agencies cutting seats? A: John Giamatteo, President - Cyber Security: The US federal market constitutes about 20-25% of our secure communications business. We haven't seen any material impact, as our products are mission-critical, and agencies are cautious about cutting such essential services. Q: What are OEMs saying about adjusting to the tariff impact, and how does this affect your guidance? A: John Giamatteo, President - Cyber Security: OEMs are still navigating the situation, and while there's uncertainty, no one has flagged a material downturn. Tim Foote, CFO, added that modeling the impact is difficult, so they've broadened the guidance range to reflect this uncertainty. Q: Can you discuss the potential of expanding QNX into adjacent markets and the opportunities there? A: John Giamatteo, President - Cyber Security: We're investing in the general embedded market (GEM), targeting verticals like medical and industrial. This expansion leverages our existing technology with minimal modification, presenting significant opportunities. Q: Could you provide more details on the vehicle OS initiative and its potential impact on your business? A: John Giamatteo, President - Cyber Security: OEMs are increasingly looking to us for software solutions, and expanding our content per vehicle is a trend that benefits us. Tim Foote, CFO, noted that this initiative could significantly increase content per vehicle, though it's still early days. Q: How do you view the risk of contract cancellations with government agencies amid political changes? A: John Giamatteo, President - Cyber Security: Our contracts are long-term and deeply integrated into mission-critical operations, making sudden cancellations unlikely. We see potential opportunities to consolidate and expand our role with these agencies. Q: What are the key drivers for your business outside the US, and how do you plan to capitalize on them? A: John Giamatteo, President - Cyber Security: We're optimistic about growth outside the US, particularly in Europe, where OEMs are seeking more from us. We're also expanding into adjacent markets like medical and industrial, which present massive opportunities. Q: How do you plan to address the challenges and opportunities in the current fiscal year? A: John Giamatteo, President - Cyber Security: We're focusing on expanding QNX into adjacent markets, deepening relationships with OEMs, and leveraging our strong position in mission-critical communications to drive growth and profitability. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
