Loading...
•
Sep 30, 2022
Bigbear.Ai Q3 2022 Earnings Report
Achieved 8% quarter-over-quarter revenue growth driven by key wins and growth within Analytics; cost savings initiatives expected to drive $20 million of annualized expense savings.
Key Takeaways
BigBear.ai announced financial results for Q3 2022, achieving revenue of $40.7 million compared to $40.2 million for the third quarter of 2021. Analytics revenue increased by 8%. The company is on track with planned cost savings initiatives expected to drive $20 million of annualized operating expense savings.
Revenue of $40.7 million, compared to $40.2 million for the third quarter of 2021
Analytics revenue increased $1.7 million, or 8%, as compared to the same period in 2021, primarily driven by the award of the U.S. Army Global Force Information Management (GFIM) contract in the third quarter of 2022
Gross margin of 29%, compared to 27% for the third quarter of 2021
Ending cash balance of $22 million
Forward Guidance
The Company is affirming the following guidance: •Revenue of approximately between $150 million to $170 million for the year-ended December 31, 2022 •Single-digit negative Adjusted EBITDA*, in millions, for the second half of 2022
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...