WATERLOO, ON - BlackBerry (NYSE:BB) Limited (NYSE: BB; TSX: BB) today announced the launch of its new managed detection and response (MDR) service, CylanceMDR Pro, aimed at bolstering cybersecurity for businesses. The service, which is built on an Open XDR platform and powered by artificial intelligence (AI), is designed to integrate with existing security infrastructure, providing enhanced visibility and threat detection without the need to replace current systems.
CylanceMDR Pro addresses the complexity of defending against sophisticated cyber threats and is positioned as a solution for organizations grappling with limited resources and cybersecurity talent shortages. The service offers over 300 platform integrations, transforming business data into security sensors to detect and prevent threats.
Nathan Jenniges, Senior Vice President and General Manager at BlackBerry Cybersecurity, emphasized the need for improved cybersecurity measures, noting that despite investments in technology and personnel, many organizations have not seen proportional improvements in their security posture.
Jenniges highlighted the effectiveness of CylanceMDR Pro, stating, "It is a single platform solution, that is easy to deploy, ensuring that threat detection data is unified across endpoints, networks, cloud environments and beyond."
The company reports a significant increase in cyber attacks, with its latest Global Threat Intelligence Report indicating a 250% rise in unique attacks per minute over the last year. CylanceMDR Pro leverages Cylance AI, which has been recognized for its predictive capabilities in third-party testing.
CylanceMDR Pro's compatibility with existing security tools is expected to reduce the total cost of ownership for businesses by maximizing their current investments. The platform pulls telemetry from various attack surfaces, including endpoints, networks, cloud, SaaS, identity, and email, to improve attack detection and response times.
The service will be available starting July 31, 2024. BlackBerry, known for its intelligent security software and services, continues to focus on delivering solutions in cybersecurity, safety, and data privacy, with a vision to secure a connected future.
This announcement is based on a press release statement from BlackBerry Limited.
In other recent news, BlackBerry Limited has reported robust financial results for Q1 of fiscal year 2025, with significant developments in its Internet of Things (IoT) and cybersecurity divisions. The IoT division posted revenues of $53 million, while the cybersecurity division reported $85 million in revenue. Full-year revenue forecasts stand at $220 million to $235 million for IoT and $350 million to $365 million for cybersecurity.
The company has also achieved substantial cost reductions, with non-GAAP operating expenses reported at $109 million. BlackBerry anticipates positive cash flow and adjusted EBITDA in the fourth fiscal quarter. Despite facing challenges in the IoT sector, particularly in the electric vehicle market, the company has found opportunities in hybrid or ICE engines.
These are recent developments that highlight BlackBerry's commitment to growth and efficiency, particularly in its IoT and cybersecurity sectors. The company has also announced plans to unveil segmented reporting at its Investor Day on October 16th, providing stakeholders with a deeper understanding of its financial health and strategic direction.
InvestingPro Insights
As BlackBerry Limited (NYSE: BB) launches its new CylanceMDR Pro service, the company's financial health and market performance remain key considerations for investors. According to InvestingPro data, BlackBerry has a market capitalization of approximately $1.51 billion. Despite challenging market conditions, the company has managed to maintain a gross profit margin of 70.03% over the last twelve months as of Q1 2025, showcasing its ability to retain a significant portion of revenue after the cost of goods sold has been accounted for.
InvestingPro Tips highlight that BlackBerry operates with a moderate level of debt, which can be a double-edged sword. While it suggests that the company is not over-leveraged, it also indicates that BlackBerry needs to maintain sufficient cash flow to service its debt obligations. Additionally, analysts have noted concerns, such as a sales decline in the current year and revisions of earnings estimates downwards for the upcoming period, which could reflect in the company's future financial statements and stock performance.
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BlackBerry's strategic focus on cybersecurity solutions like CylanceMDR Pro could play a crucial role in shaping its future revenue streams and market position. With the cybersecurity landscape evolving rapidly, BlackBerry's offerings in this domain may well be pivotal in its pursuit of growth and profitability.
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