Bigbear.Ai Holdings, Inc. ( (BBAI) ) has released its Q1 earnings. Here is a breakdown of the information Bigbear.Ai Holdings, Inc. presented to its investors.
BigBear.ai Holdings, Inc. is a prominent provider of AI-powered decision intelligence solutions, serving sectors such as national security, defense, travel, trade, and enterprise. The company is publicly traded on the NYSE under the symbol BBAI and is headquartered in McLean, Virginia.
In its first quarter of 2025, BigBear.ai reported a revenue increase of 5% year-over-year, reaching $34.8 million, primarily driven by contracts with the Department of Homeland Security and Digital Identity awards. The company also successfully reduced its long-term debt by $58 million through voluntary conversions of the 2029 Notes.
Key financial metrics from the first quarter include a gross margin of 21.3% and a net loss of $62.0 million, a significant improvement from the $127.8 million net loss in the same quarter of the previous year. This improvement was largely due to the absence of goodwill impairment charges that affected the previous year’s results. However, the company faced increased non-cash losses related to the fair value of derivatives and higher SG&A expenses.
Looking ahead, BigBear.ai has affirmed its 2025 outlook, projecting annual revenue between $160 million and $180 million, with adjusted EBITDA expected to remain in the negative single-digit millions. The management remains optimistic about capitalizing on market dynamics and executing disciplined growth strategies.