BlackBerry (BB.TO) was down more than 20% in US premarket trade Wednesday on its outlook, despite reporting higher fourth-quarter adjusted profit that beat forecasts.

According to The Wall Street Journal, the stock was headed for a seventh-straight loss, which would be the longest losing streak since the eight-day stretch that ended Oct. 9, 2023. It was also on track for the biggest one-day selloff since it plunged 17.5% on Jan. 24, 2024.

On its Q4, Blackberry reported adjusted net income climbed to US$17.7 million, or US$0.03 per share, from US$16.4 million, or US$0.03 per share in the prior year period. The result beat analysts' expectations of US$ nil per share, according to FactSet.

Revenue fell to US$142 million from $153 million.

For the fiscal first quarter, Blackberry is forecasting a non-GAAP loss per share of US$0.01 to breakeven and earnings per share for fiscal 2026 of US$0.08 to US$0.10.

Revenue for the quarter is forecast to be between US$107 million to US$115 million, below the FactSet consensus estimate of $125.1 million, while fiscal 2026 revenue is seen at US$504 million to US$534 million, compared with the FactSet consensus estimate of $535.4 million.

"BlackBerry closed out this transformational fiscal year with another quarter of strong financial performance from all three divisions: QNX, Secure Communications and Licensing. We also took a big step forward by completing the sale of the Cylance business to Arctic Wolf, a win-win for all parties, and significantly strengthening our balance sheet in the process." said John Giamatteo, chief executive officer.

The company's shares were last seen down US$0.07, to US$3.66 in pre-market New York trading.