Bridger Aerospace Group Holdings, Inc. ((BAER)) has held its Q4 earnings call. Read on for the main highlights of the call.
Bridger Aerospace Group Holdings, Inc. recently held its earnings call, showcasing a strong performance with record revenues and significant growth in adjusted EBITDA. The company reported positive cash flow and secured strategic contracts, indicating a promising future outlook. Despite challenges such as a net loss and ongoing work on Spanish scoopers, the overall achievements and financial improvements suggest a positive trajectory for the company.
Record Fourth Quarter Revenue
Bridger Aerospace achieved a remarkable increase in revenue, reaching $15.6 million in Q4 2024, a significant rise from $1.1 million in Q4 2023. This growth was primarily driven by the extended deployment of scoopers, highlighting the company’s operational efficiency and market demand.
Significant Annual Revenue Growth
The company reported an impressive annual revenue of $98.6 million for 2024, marking a 48% increase from the previous year. This substantial growth underscores Bridger Aerospace’s expanding market presence and successful business strategies.
Positive Cash Flow Achievement
For the first time, Bridger Aerospace generated over $9 million in cash from operating activities in 2024. This milestone reflects the company’s improved financial health and operational effectiveness.
Successful Deployment and Utilization of Scoopers
In January 2025, Bridger Aerospace deployed two scoopers in California, marking the earliest deployment in the company’s history. This strategic move enhances their readiness and capability to meet market demands effectively.
Five-Year Contract with U.S. Department of the Interior
The company secured a $20 million contract with the U.S. Department of the Interior to provide air attack aircraft for fire and resource management in Alaska. This contract underscores Bridger Aerospace’s strategic partnerships and growth potential.
Growth in Adjusted EBITDA
Bridger Aerospace’s adjusted EBITDA doubled to $37.3 million in 2024, compared to $18.7 million in 2023. This growth reflects the company’s enhanced profitability and operational efficiency.
Development of Ignis Technologies
The company launched Ignis Technologies, a mobile platform for firefighters, with plans to transition to a subscription-based model in 2025. This innovation highlights Bridger Aerospace’s commitment to technological advancement and market expansion.
Strong Cash Position
Ending the year with $39.3 million in cash and cash equivalents, up from $33.3 million in September 2024, Bridger Aerospace demonstrates a robust cash position, providing a solid foundation for future investments and growth.
Net Loss
Despite reporting a net loss of $15.6 million in 2024, this was an improvement from a $77.4 million loss in 2023. The reduction in net loss indicates progress in the company’s financial recovery efforts.
Negative Adjusted EBITDA in Q4
The company reported a negative adjusted EBITDA of $2.9 million in Q4 2024, an improvement from negative $10.4 million in Q4 2023. This improvement highlights ongoing efforts to enhance quarterly financial performance.
Challenges with Spanish Scoopers
Bridger Aerospace continues to address challenges with Spanish scoopers, with return to service work ongoing and full readiness expected later in 2025. This indicates the company’s commitment to resolving operational hurdles.
Forward-Looking Guidance
Looking ahead, Bridger Aerospace projects 2025 revenue between $105 million and $111 million, with adjusted EBITDA expected to range from $42 million to $48 million. The guidance considers their largely fixed cost structure and seasonality, emphasizing the importance of the third quarter for generating adjusted EBITDA.
In conclusion, Bridger Aerospace Group Holdings, Inc. has demonstrated a strong performance in its latest earnings call, with record revenues and significant growth in adjusted EBITDA. The company’s strategic contracts and positive cash flow indicate a promising future, despite challenges such as a net loss and ongoing work on Spanish scoopers. Overall, the financial improvements and forward-looking guidance suggest a positive trajectory for the company.