Loading...
•
Mar 31, 2024
Bigbear.Ai Q1 2024 Earnings Report
BigBear.ai's Q1 2024 results were announced, showing progress in operationalizing AI and a decrease in revenue due to specific program wind-downs and a bankruptcy.
Key Takeaways
BigBear.ai reported a decrease in revenue for Q1 2024, primarily due to the planned wind-down of the Air Force EPASS program and the elimination of revenue from Virgin Orbit's bankruptcy. The company's net loss included a significant non-cash goodwill impairment charge. However, they affirm their full-year revenue guidance of $195 - $215 million.
Revenue decreased by 21.4% to $33.1 million compared to Q1 2023.
Net loss was $125.1 million, including a non-cash goodwill impairment charge of $85.0 million.
Non-GAAP Adjusted EBITDA was $(1.6) million, an improvement from $(3.8) million in Q1 2023.
Cash balance ended at $81.4 million as of March 31, 2024.
Forward Guidance
The company continues to project revenue between $195 million and $215 million for the year ending December 31, 2024. This projection includes the results of Pangiam after the acquisition date of February 29, 2024.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...