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Sep 30, 2023
Bigbear.Ai Q3 2023 Earnings Report
Announced first quarter of positive net income, positive adjusted EBITDA, and positive cash flows from operations.
Key Takeaways
BigBear.ai reported a revenue decline of 16.4% to $34.0 million, but achieved its first quarter of positive net income at $4.0 million, positive adjusted EBITDA, and positive cash flows from operations. The company also announced a definitive merger agreement to acquire Pangiam.
Achieved first quarter of positive net income, positive adjusted EBITDA, and positive cash flows from operations since public company debut in December 2021.
Announced a definitive merger agreement to acquire Pangiam in an all-stock transaction.
Revenue declined 16.4% to $34.0 million compared to Q3 2022.
Net income was $4.0 million, compared to a net loss of $16.1 million in Q3 2022.
Forward Guidance
The Company continues to project revenue between $155 million and $170 million and single digit negative adjusted EBITDA for the year-ended December 31, 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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