Bigbear.ai Holdings, Inc. income statement
In fiscal 2025, Bigbear.ai Holdings, Inc. reported revenue of $128m, down 19.3% on the year before, operating income of −$214m (a -167.5% margin) and net income of −$294m, or −$0.82 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2019Dec 2019 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|
| Revenue | 74 | 146 | 155 | 155 | 158 | 128 | 142 |
| Cost of revenue | 56 | 112 | 112 | 115 | 113 | 99 | 99 |
| Gross profit | 17 | 34 | 43 | 41 | 45 | 28 | 43 |
| Research and development | 0 | 6 | 8 | 5 | 11 | 17 | 23 |
| Selling, general and administrative | 11 | 107 | 85 | 71 | 80 | 95 | 118 |
| Operating income | 6 | −78 | −111 | −39 | −133 | −214 | −233 |
| Interest expense | 0 | 8 | 14 | 25 | 26 | 18 | 5 |
| Income before tax | 6 | −122 | −113 | −71 | −296 | −316 | −203 |
| Income tax | 0 | 1 | −2 | −0 | −0 | −22 | −22 |
| Net income | 6 | −124 | −111 | −71 | −296 | −294 | −180 |
| Diluted EPS | — | −$1.15 | −$0.87 | −$0.47 | −$1.27 | −$0.82 | −$0.39 |
| Diluted shares (average) | — | 107m | 128m | 149m | 234m | 359m | 462m |
| EBITDA | 6 | −71 | −103 | −31 | −122 | −199 | −209 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 44 | 35 | 32 | 33 | 27 | 34 | 37 | 44 |
| Cost of revenue | 27 | 27 | 24 | 26 | 22 | 23 | 25 | 30 |
| Gross profit | 16 | 7 | 8 | 7 | 6 | 12 | 12 | 14 |
| Research and development | 2 | 4 | 4 | 3 | 5 | 6 | 8 | 5 |
| Selling, general and administrative | 22 | 23 | 21 | 25 | 26 | 29 | 32 | 31 |
| Operating income | −8 | −21 | −90 | −22 | −81 | −24 | −29 | −100 |
| Interest expense | 6 | 5 | 4 | 5 | 4 | 0 | 0 | 0 |
| Income before tax | −138 | −62 | −229 | 3 | −28 | −57 | −26 | −92 |
| Income tax | −0 | 0 | 0 | 0 | −22 | 0 | 0 | −1 |
| Net income | −138 | −62 | −229 | 3 | −6 | −57 | −26 | −92 |
| Diluted EPS | −$0.58 | −$0.25 | −$0.71 | −$0.03 | $0.05 | −$0.12 | −$0.05 | −$0.19 |
| EBITDA | −5 | −18 | −87 | −18 | −76 | −17 | −22 | −93 |
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