Quarterly ResultMay 5, 2026, 04:42 PM
BigBear.ai Q1 Net Loss Narrows to $56.8M; Debt Converted
AI Summary
BigBear.ai Holdings, Inc. reported a reduced net loss of $56.8 million, or $(0.12) per share, for the first quarter of 2026, an improvement from the $62.0 million net loss, or $(0.25) per share, in the prior year. While revenues saw a slight decrease to $34.4 million, the company achieved a significant increase in gross margin to $11.7 million. The quarter also saw strategic activity with the acquisition of CargoSeer for $5.0 million and a substantial reduction in total liabilities, primarily due to the conversion of $124.6 million of 2029 Convertible Notes into equity.
Key Highlights
- Net loss narrowed to $56.8 million for Q1 2026, down from $62.0 million in Q1 2025.
- Basic net loss per share improved to $(0.12) in Q1 2026 from $(0.25) in Q1 2025.
- Revenues slightly decreased to $34.4 million in Q1 2026 from $34.8 million in Q1 2025.
- Gross margin increased to $11.7 million in Q1 2026 from $7.4 million in Q1 2025.
- Converted $124.6 million of 2029 Convertible Notes into equity, reducing long-term debt.
- Acquired CargoSeer for $5.0 million in cash during Q1 2026.
- Total liabilities significantly reduced to $71.3 million from $282.7 million as of December 31, 2025.
- Cash and cash equivalents increased to $100.7 million as of March 31, 2026.