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BigBear.ai Holdings, Inc.

BigBear.ai Holdings, Inc.

NYSE•BBAI
CEO: Mr. Theodore Tanner Jr.
Sector: Technology
Industry: Information Technology Services
Listing Date: 2021-04-05
BigBear.ai Holdings, Inc. provides artificial intelligence-powered decision intelligence solutions. It offers national security, supply chain management, and digital identity and biometrics solutions. The company also provides data ingestion, data enrichment, data processing, artificial intelligence, machine learning, predictive analytics, and predictive visualization solutions and services. It serves nation defense and intelligence agencies, border protection, transportation security, manufacturing, distribution and logistics, travel, entertainment, and tourism sectors. The company is headquartered in Columbia, Maryland.
Contact Information
6811 Benjamin Franklin Drive, Suite 200, Columbia, MD, 21046, United States
410-312-0885
bigbear.ai
Market Cap
$2.27B
P/E (TTM)
-4.8
36
Dividend Yield
--
52W High
$10.36
52W Low
$2.36
52W Range
47%
Rank61Top 80.3%
2.4
F-Score
Modified Piotroski Analysis
Based on 7-year fundamentals
Weak • 2.4 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2018-2024

Financial Dashboard

Q3 2025 Data

Revenue

$33.14M-20.15%
4-Quarter Trend

EPS

$0.01-120.53%
4-Quarter Trend

FCF

-$10.92M+75.94%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Cash Position Surges Post-Financing Cash and equivalents reached $456.6M by September 30, 2025, up from $50.1M year-end 2024, driven by financing activities.
Quarterly Revenue Declined Sharply Nine-month revenues fell 12.3% to $100.4M in 2025 versus $114.4M in 2024; Q3 revenues dropped 20.1%.
Strategic Ask Sage Acquisition Definitive agreement signed November 2025 to acquire Ask Sage for $140M cash plus potential $110M stock consideration.
Equity Position Significantly Improved Total stockholders' equity improved to $610.0M as of September 30, 2025, reversing prior period deficit position.

Risk Factors

Operating Losses Widened Substantially Nine-month operating loss increased to $(133.4M) in 2025 from $(125.3M) in 2024, reflecting revenue pressures.
Backlog Value Contracted Total backlog decreased to $376.4M by September 30, 2025, down from $418.3M at December 31, 2024.
Government Funding Uncertainty Majority of revenue derived from federal contracts; government shutdowns pose risks to funding and contract awards.
Internal Control Material Weakness Disclosure controls deemed ineffective due to previously reported material weakness; remediation expected completion during 2025.

Outlook

Closing Ask Sage Merger Management focused on closing the Ask Sage merger, subject to regulatory approval and stockholder vote conditions.
Utilizing ATM Program Proceeds Nine-month net proceeds from ATM offerings totaled $628.8M, used for general corporate and working capital purposes.
Debt Covenants Maintained Compliance Company remains in compliance with all financial covenants related to 2026 and 2029 Convertible Notes obligations.
Remediating Control Weaknesses Expect remediation of material weaknesses in internal control over financial reporting to be completed during 2025.

Peer Comparison

Revenue (TTM)

Concentrix CorporationCNXC
$9.72B
+3.4%
Insight Enterprises, Inc.NSIT
$8.27B
-6.7%
Clarivate PlcCLVT
$2.50B
-3.0%

Gross Margin (Latest Quarter)

Asana, Inc.ASAN
88.9%
-0.3pp
Clarivate PlcCLVT
65.0%
-1.3pp
C3.ai, Inc.AI
40.4%
-20.9pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
PAY$3.93B65.911.6%1.1%
WNS$3.32B20.320.8%30.8%
ASAN$3.20B-14.7-100.0%25.5%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-8.9%
Growth Under Pressure
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention

Research & Insights

Next earnings:Mar 5, 2026
|
EPS:-$0.05
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 10, 2025|
    Revenue: $33.14M-20.1%
    |
    EPS: $0.01-120.5%
    Beat

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 11, 2025|
    Revenue: $32.47M-18.4%
    |
    EPS: $-0.71+1388.5%
    Miss

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 2, 2025|
    Revenue: $34.76M+4.9%
    |
    EPS: $-0.25-62.7%
    Miss

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 25, 2025|
    Revenue: $158.24M+2.0%
    |
    EPS: $-1.27-175.0%
    Miss

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 7, 2024|
    Revenue: $41.51M+22.1%
    |
    EPS: $-0.05-289.5%
    Meet

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 9, 2024|
    Revenue: $39.78M+3.4%
    |
    EPS: $-0.05-60.3%
    Meet

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 10, 2024|
    Revenue: $33.12M-21.4%
    |
    EPS: $-0.67+252.6%
    Miss

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 15, 2024|
    Revenue: $155.16M+0.1%
    |
    EPS: $-0.40+57.9%
    Miss