On November 5, 2024, BigBear.ai Holdings, Inc. reported its financial results for the third quarter ending September 30, 2024. The company, listed on the New York Stock Exchange under the ticker BBAI, announced a revenue increase of 22.1% to $41.5 million compared to the same period in 2023. Gross margin also improved to 25.9% from 24.7% in the previous year. However, the company experienced a net loss of $12.2 million, which was attributed to a decreased benefit from changes in the fair value of warrants. Despite the net loss, BigBear.ai reported a positive non-GAAP Adjusted EBITDA of $0.9 million. The company's cash balance stood at $65.6 million as of September 30, 2024. BigBear.ai affirmed its full-year 2024 revenue guidance to be between $165 million and $180 million. The quarter was marked...Show More

On November 5, 2024, BigBear.ai Holdings, Inc. reported its financial results for the third quarter ending September 30, 2024. The company, listed on the New York Stock Exchange under the ticker BBAI, announced a revenue increase of 22.1% to $41.5 million compared to the same period in 2023. Gross margin also improved to 25.9% from 24.7% in the previous year. However, the company experienced a net loss of $12.2 million, which was attributed to a decreased benefit from changes in the fair value of warrants. Despite the net loss, BigBear.ai reported a positive non-GAAP Adjusted EBITDA of $0.9 million. The company's cash balance stood at $65.6 million as of September 30, 2024. BigBear.ai affirmed its full-year 2024 revenue guidance to be between $165 million and $180 million. The quarter was marked by significant contracts and developments, including a 5-year, $165 million contract with the U.S. Army and the showcasing of its ConductorOS platform at defense-related events. The company also highlighted the successful integration of its biometric boarding solutions at Denver International Airport and its participation in U.S. Navy exercises. BigBear.ai's CEO, Mandy Long, emphasized the company's focus on building a sustainable business and navigating the challenges posed by the cautious approach of governments and regulators towards artificial intelligence.