BigBear.ai Q4 revenue misses due to lower volume on Army programs

Reuters03-03

BigBear.ai Q4 revenue misses due to lower volume on Army programs

Overview

AI solutions provider's Q4 revenue fell 38%, missing analyst expectations
Company closed Ask Sage and CargoSeer acquisitions, expanding into Middle East
Company settled remaining $125 mln of 2029 convertible notes, reducing debt

Outlook

BigBear.ai projects 2026 revenue between $135 mln and $165 mln
U.S. Government's AI Acceleration Strategy supports BigBear.ai's strengths

Result Drivers

ARMY PROGRAMS - Revenue decreased 38% in Q4 2025 due to lower volume on Army programs
HIGH-MARGIN CONTRACTS - Gross margin declined due to absence of significant one-time high-margin contracts from Q4 2024

Company press release: ID:nBwbZNL5Ta

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q4 Revenue	Miss	$27.30 mln	$33.31 mln (3 Analysts)
Q4 EPS		-$0.01
Q4 Net Income		-$5.83 mln
Q4 Operating Income		-$80.53 mln

Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the it services & consulting peer group is "buy."
Wall Street's median 12-month price target for BigBear.ai Holdings Inc is $6.00, about 51.5% above its February 27 closing price of $3.96

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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