BlackBerry lifted its fiscal 2027 revenue forecast to $594 million-$621 million, up from $584 million-$611 million, after first-quarter results beat expectations. The former smartphone maker now trades at more than double its January levels as investors price in its transformation into an automotive and industrial software play.

The company's GEM platform, built on the same real-time operating system as its QNX automotive software, is winning contracts to run AI-enabled industrial systems and robotics. BlackBerry sees this embedded management platform as a natural extension of its safety-critical software expertise into the broader AI deployment market.

Chief Executive John Giamatteo emphasized multi-year growth potential in software-defined vehicles and embedded systems beyond automotive applications. The platform leverages proven QNX technology already deployed across millions of vehicles worldwide.

With automotive software margins typically higher than legacy licensing businesses, BlackBerry's shift toward recurring revenue streams from embedded AI systems positions it for sustained growth. The outlook raise signals management confidence that this transition is gaining traction with enterprise customers.