BigBear.ai Holdings, Inc. earnings

BigBear.ai reported revenue of $36.75 million for the fiscal 2026 second quarter, up 13.2% from $32.47 million in the prior-year quarter.

BigBear.ai reported first quarter 2026 revenue of $34.4 million, down 0.9% from the prior-year quarter. Gross profit rose to $11.7 million, up 58.6%. Gross margin expanded to 34.0%, an increase of 12.8 percentage points, or 1,278 basis points as the press release described it.

BigBear.ai reported fiscal 2025 fourth-quarter revenue of $27.30 million, down 37.7% from the prior-year quarter. Full-year revenue was $127.67 million, down 19.3% from fiscal 2024. The annual report attributes the decline to lower volume on Army programs and significant one-time contracts in 2024 that did not recur.

BigBear.ai's third quarter of 2025 revenue fell 20.1% to $33.1 million. Gross profit dropped 31.0% to $7.4 million. Gross margin slipped to 22.4%. Operating loss widened to $21.9 million. Operating margin was negative 66.0%. Net income was $2.5 million, a swing to profit from a net loss in the prior-year quarter.

BigBear.ai reported second quarter 2025 revenue of $32.5 million, down 18.4% from $39.8 million in the second quarter of 2024. The decline came primarily from lower volume on certain Army programs. Gross profit fell to $8.1 million from $11.1 million, and gross margin slipped to 25.0% from 27.8%.

BigBear.ai's first quarter of 2025 delivered modest top-line growth and a much smaller loss, though the company remains unprofitable and tied to federal spending. Revenue rose 4.9% to $34.8 million from $33.1 million in the prior-year quarter.

BigBear.ai ended fiscal 2024 with fourth-quarter revenue of $43.83 million, up 8.0% from the prior-year quarter. Full-year revenue reached $158.24 million, up 2.0%.

BigBear.ai reported third quarter revenue of $41.5 million, up 22.1% from the prior-year quarter. Gross profit was $10.77 million, up 28.0% from the prior-year quarter. Gross margin expanded to 25.9% from 24.7%. The operating loss widened to $10.54 million from $8.21 million.

BigBear.ai closed the second quarter of 2024 with revenue of $39.8 million, up 3.4% from $38.5 million in the prior-year quarter. A full quarter of Pangiam revenue, following the acquisition that closed on February 29, 2024, offset the planned wind-down of the Air Force EPASS program in mid-2023.

BigBear.ai's first quarter of 2024 came down to a smaller top line and a much bigger loss. Revenue fell 21.4% to $33.1 million from $42.2 million in the prior-year quarter.

BigBear.ai ended fiscal 2023 with fourth-quarter revenue of $40.6 million, up 0.5% from the prior-year quarter. Full-year revenue was $155.2 million, essentially flat versus fiscal 2022. The top line showed little momentum, but profitability metrics improved sharply.

BigBear.ai booked its first quarterly profit since going public in December 2021, but revenue kept shrinking. Revenue fell 16.4% in the third quarter of 2023 to $34.0 million, against $40.7 million in the prior-year quarter.

BigBear.ai reported second-quarter revenue of $38.5 million, up 2.2% from a year earlier. Gross margin fell to 23.3%. The operating loss narrowed to $10.2 million from the prior-year quarter. The net loss narrowed to $16.9 million, or $0.12 per diluted share. First-half revenue rose 8.9% to $80.6 million.

BigBear.ai entered fiscal 2023 with mixed first quarter results. Revenue rose 15.8% to $42.2 million, helped by new contract awards and higher volume on certain Army contracts. Gross profit increased 3.5% to $10.2 million.

BigBear.ai closed fiscal 2022 with fourth-quarter revenue of $40.36 million, up 20.5% from the prior-year quarter. Gross profit was $11.78 million, up 207.9%, and gross margin reached 29.2%, up 17.8 percentage points. The quarter's operating loss narrowed to $26.37 million, a 63.4% improvement.

BigBear.ai reported third-quarter revenue of $40.65 million, up 1.1% from the prior-year quarter. Gross profit rose 8.8% to $11.75 million, and gross margin reached 28.9%, up 2.1 percentage points from the prior-year quarter. The company highlighted the U.S.

BigBear.ai reported second quarter 2022 revenue of $37.61 million, up 3.6% from the prior-year quarter. Gross profit was $9.59 million, up 4.7%, and gross margin was 25.5%, up 0.3 percentage points. The top line grew, but the bottom line deteriorated.

BigBear.ai's first quarter of 2022 exposed the cost of its pivot from a services-led business to a product-led one. Revenue rose 2.3% to $36.4 million from $35.6 million in the prior-year quarter. Gross profit went the other way, down 4.0% to $9.9 million, and gross margin slipped to 27.1% from 28.9%.

BigBear.ai reported revenue of $33.48 million for FY2021 Q4 and $145.58 million for the full fiscal year. Gross profit was $3.83 million in the quarter and $34.07 million for the year. Gross margin was 11.4% in Q4 and 23.4% for the full year. The operating loss was $74.37 million in Q4 and $78.47 million for the year.

Reported figures for the third quarter show revenue of $40.22 million for the three months ended September 30, 2021, and $112.10 million for the nine months. Gross profit was $10.80 million in the quarter and $30.24 million for the year to date, a 26.8% gross margin in the quarter and 27.0% for the nine months.

GigCapital4 spent the June 2021 quarter as a blank check company still hunting for a target. The Delaware entity was formed in December 2020 to acquire or merge with one or more businesses.

GigCapital4 reported an operating loss of $0.6 million and a net loss of $0.6 million for the three months ended March 31, 2021, its first full quarter as a public company. Revenue for the quarter was $35.6 million. Gross profit was $10.3 million, a gross margin of 28.9%, while the operating margin was -1.7%.