BigBear.ai Revenue Jumps 31% to $43.6M, FY Guidance Raised
BBAI is trading near its 52-week low of $2.07 (12% above the low) on elevated volume (2.0× avg).
Summary
Revenue rose 31% to $43.6M from $33.1M a year ago, well above the $36.7M posted in Q2, and gross margin expanded to 31.2% from 22.4%. Management raised FY2026 revenue guidance to $150M-$165M, a 5% lift at the midpoint. The headline loss of $91.9M is mostly a $76.7M non-cash goodwill impairment tied to a lowered forecast, not cash burn; Adjusted EBITDA was $(9.1)M, roughly flat year over year, and EPS came in at -0.19. Backlog grew 22% since Q2 to $330M, including wins executed through Sept 30, with only 23% funded, and the quarter included more than 25 new contract wins since Q2 worth more than $225M in contract value, including the FBI, U.S. Coast Guard and Department of Energy. The raised guide and third straight quarter of organic growth are the real story; the impairment and still-negative EBITDA are the caveats. Cash and investments total roughly $400M against no long-term debt, so dilution risk from the $268M ATM is the thing to keep in mind. Earnings call is at 4:30 p.m. ET today.
At the time of this announcement, BBAI was trading at $2.32 on NYSE in the Technology sector, with a market capitalization of approximately $1.1B. The 52-week trading range was $2.07 to $7.40. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: BusinessWire.