BigBear.ai Inc (NYSE:BBAI) reported financial results for the first quarter after the market close on Tuesday. Here’s a look at the key details from the print.
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BigBear.AI Earnings Highlights
BigBear.AI reported first-quarter revenue of $34.44 million, beating analyst estimates of $33.60 million, according to Benzinga Pro. The company reported a quarterly loss of four cents per share, beating expectations for a loss of 8 cents per share.
Total revenue was down 1% year-over-year, primarily due to lower volume on Army programs. Backlog increased 14% quarter-over-quarter, primarily driven by a sole-source prime classified award. Gross margin was 34% in the quarter, compared to 21.3% in the first quarter of 2025.
BigBear.AI had approximately $100.70 million of total cash and cash equivalents at quarter’s end.
“It is great to report significant wins in Q1 amounting to close to $75 million that prove our thesis that national security, and trade and travel are two markets that we are right to stay laser-focused on serving,” said Kevin McAleenan, CEO of BigBear.AI.
“These wins keep us on track to meet our topline revenue target for 2026 and we are pleased to see our pipeline strengthening at this stage of the year.”
BigBear.AI affirmed its full-year 2026 revenue guidance of $135 million to $165 million versus estimates of $142.55 million.
BBAI Shares Fall After The Close
BBAI Price Action: BigBear.AI shares were down 3.86% in after-hours, trading at $3.98 at the time of publication on Tuesday, according to Benzinga Pro.
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