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Jun 30, 2024
Bigbear.Ai Q2 2024 Earnings Report
Revenue increased and Heathrow Airport MSA signed, but full-year revenue guidance adjusted due to timing of customer awards and regulatory approvals.
Key Takeaways
BigBear.ai reported a 3.4% increase in revenue to $39.8 million for Q2 2024 compared to $38.5 million in Q2 2023. The company signed an MSA with Heathrow Airport and announced upcoming exercises for ConductorOS. However, full-year 2024 revenue guidance was adjusted to $165-$180 million due to timing of customer awards and regulatory approvals.
Revenue increased by 3.4% year-over-year to $39.8 million.
Gross margin increased to 27.8% compared to 23.3% in the same quarter last year.
Net loss decreased to $11.7 million compared to $16.9 million in the same quarter last year.
Ending backlog was $266 million as of June 30, 2024.
Forward Guidance
For the year-ended December 31, 2024, the Company projects revenue between $165 million and $180 million. The projections include the results of Pangiam after the acquisition date of February 29, 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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