Artificial intelligence and machine learning company providing decision intelligence solutions for defense and commercial markets.MoreShow less
Profile & Fundamentals
BigBear.ai (BBAI.NYSE) Profile & Fundamentals
Review BigBear.ai reported earnings, valuation, balance sheet and ownership, with source tables and separate AI assessments.
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Company and Market Context
BigBear.ai: Company Profile & Ownership
BigBear.ai Holdings, Inc. provides artificial intelligence-powered decision intelligence solutions for national security, supply chain management, and digital identity markets. It offers supply chain and logistics solutions, such as Data Conflation at Scale, which offers a view of operations enabling real-time tracking of inventory and facilitating predictive analytics to optimize functions, including routes and delivery times; Discrete Event Simulation, a course of action analysis and digital twin solution; and Next-Gen Decision Support solution for macroeconomic and geopolitical forecasting. The company also provides cybersecurity solutions, such as artificial intelligence (AI)-powered/machine-accelerated binary analysis, cyber-physical systems vulnerability testing and evaluation, vulnerability assessment as a service, and specialized services for the department of defense and intelligence community; and autonomous systems solutions, AI/machine learning (ML) decision intelligence solutions, and AI orchestration as a service, as well as specialized consulting services. In addition, it offers digital identity services comprising security solutions specializing in customized digital identity, biometrics, AI/ML, and advanced analytics software and solutions for global trade, travel, and digital identity industries; and Ask Sage Platform, a generative AI platform for secure AI deployment, orchestration, and agentic capabilities across defense, intelligence, and other highly regulated environments. The company was founded in 1988 and is headquartered in McLean, Virginia.
Company profile record
BigBearai Holdings Inc
Common Stock · Information Technology · Internet Services & Infrastructure
Company
- Company / asset
- BigBearai Holdings Inc
- Security type
- Common Stock
- Sector
- Information Technology
- Industry
- Internet Services & Infrastructure
- HQ
- 🇺🇸 United States
- Head office
- 7950 Jones Branch Drive, McLean, VA, United States, 22102
Leadership & scale
- Chief executive
- Mr. Kevin McAleenan
- CEO year born
- 1972
- Full-time employees
- 579
- Fiscal year end
- December
- IPO date
- 2021-04-05
Fundamentals snapshot
- Market Cap
- USD 1.1B
- P/E
- --
- Revenue (Q3 26)
- USD 43.6M
- Profit (Q3 26)
- USD -91.9M
- Dividend Yield
- --
- Revenue (FY 25)
- USD 127.7M
- Shares in public float
- 477.2M
- Insider ownership
- 0.69%
Reporting & identifiers
- Symbol
- BBAI.NYSE
- Listing
- 🇺🇸 United States | Dividend Tax: 30%
- Ticker Currency
- USD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- US08975B1098
- Asset ID
- equity_943926b7-ed6b-5754-9734-ed3184f76b20
BigBear.ai: Ownership
Shares Outstanding
Latest: 480.3M | Max: 480.3M | Min: 112.5M
Latest reported ownership snapshot
Float Shares
99.36%
477.2M latest reported shares
Insider Ownership
0.69%
Latest reported insider stake
Short Float
0.29%
Latest reported short interest / float
Top Holders
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2020-01-01 | 135,566,200 |
| 2021-01-01 | 112,543,100 |
| 2022-01-01 | 117,069,600 |
| 2023-01-01 | 156,818,500 |
| 2024-01-01 | 250,575,700 |
| 2025-01-01 | 436,683,600 |
| 2026-01-01 | 480,324,200 |
Top Holders
Available reported ownership records.
Scroll the table to see every column.
| Holder | Shares | Ownership | Reported date |
|---|---|---|---|
| BlackRock Inc | 40,571,630 | 8.46% | 2026-06-30 |
| Vanguard Capital Management, LLC | 21,201,689 | 4.42% | 2026-06-30 |
| Vanguard MStar Total Stk Mkt Idx Invest | 15,235,467 | 3.16% | 2026-09-30 |
| Jupiter Merian Glb Eq Abs Rt I USD Acc | 12,816,012 | 2.66% | 2026-06-30 |
| iShares Russell 2000 ETF | 12,459,123 | 2.59% | 2026-10-29 |
| Geode Capital Management, LLC | 12,396,241 | 2.59% | 2026-06-30 |
| State Street Corp | 12,186,162 | 2.54% | 2026-06-30 |
| Vanguard Portfolio Management, LLC | 10,774,316 | 2.25% | 2026-06-30 |
| UBS Group AG | 9,691,775 | 2.02% | 2026-06-30 |
| Van Eck Associates Corporation | 8,178,320 | 1.71% | 2026-06-30 |
| VanEck Defense ETF A USD Acc | 7,911,201 | 1.64% | 2026-10-29 |
| Vanguard Information Technology ETF | 7,342,636 | 1.53% | 2026-09-30 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 5,779,715 | 1.21% | 2026-06-30 |
| Citadel Advisors Llc | 5,379,946 | 1.12% | 2026-06-30 |
| Fidelity Small Cap Index | 5,345,925 | 1.11% | 2026-07-31 |
BigBear.ai: Earnings, Profitability & Valuation
Latest Financials Filed On
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
The latest results show a business working hard to stabilize after severe contract cutbacks. After revenue dropped over 19% in 2025 to $128 million due to expiring Army contracts, second-quarter 2026 revenue rose 13% to $36.7 million. However, this recovery was largely purchased rather than built, coming almost entirely from newly acquired Ask Sage software. Excluding acquisitions, underlying legacy sales actually contracted. Beneath the stabilized sales headlines, true earnings remain deeply negative. The company lost $28.6 million from operations in the second quarter, while burning nearly $74 million in free cash flow over the trailing twelve months. High spending on administrative overhead and integration continues to swallow gross profits, leaving positive cash generation distant.
The latest results show a business working hard to stabilize after severe contract cutbacks. After revenue dropped over 19% in 2025 to $128 million due to expiring Army contracts, second-quarter 2026 revenue rose 13% to $36.7 million. However, this recovery was largely purchased rather than built, coming almost entirely from newly acquired Ask Sage software. Excluding acquisitions, underlying legacy sales actually contracted. Beneath the stabilized sales headlines, true earnings remain deeply negative. The company lost $28.6 million from operations in the second quarter, while burning nearly $74 million in free cash flow over the trailing twelve months. High spending on administrative overhead and integration continues to swallow gross profits, leaving positive cash generation distant.
Revenue, Net Income, and Free Cash Flow
Latest: USD 127.7M | Max: USD 158.2M | Min: USD -295.5M
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: --
No history available.
Profitability & Margins
Margins and Operating Efficiency
AI Review
Profit margins tell two completely different stories depending on which line you examine. Gross margin improved nicely to 32.8% in the second quarter of 2026, rising from 25% a year earlier. This improvement reflects the arrival of higher-margin Ask Sage software licenses, which generate better profit per dollar than older, labor-heavy government staffing contracts. Unfortunately, operating margins remain deep in the red at negative 77% for the quarter. Running a defense company requires substantial administrative, security clearance, and sales expenses that completely wipe out gross profit. Until high-margin software sales grow large enough to absorb fixed corporate overhead, overall profit margins will remain severely depressed.
Profit margins tell two completely different stories depending on which line you examine. Gross margin improved nicely to 32.8% in the second quarter of 2026, rising from 25% a year earlier. This improvement reflects the arrival of higher-margin Ask Sage software licenses, which generate better profit per dollar than older, labor-heavy government staffing contracts. Unfortunately, operating margins remain deep in the red at negative 77% for the quarter. Running a defense company requires substantial administrative, security clearance, and sales expenses that completely wipe out gross profit. Until high-margin software sales grow large enough to absorb fixed corporate overhead, overall profit margins will remain severely depressed.
Profitability Margins
Latest: 22.3% | Max: 28.6% | Min: <-100.0%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
22.3%
Gross profit / revenue
Operating Margin
-65.3%
Operating income / revenue
Net Margin
-230.2%
Net income / revenue
FCF Margin
-36.3%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2018-12-31 | 49,439,000 | 3,863,000 | 1,824,000 |
| 2019-12-31 | 73,626,000 | 6,246,000 | 4,103,000 |
| 2020-12-31 | 91,317,000 | -2,549,000 | 921,999 |
| 2021-12-31 | 145,578,000 | -123,552,000 | -20,427,000 |
| 2022-12-31 | 155,011,000 | -111,367,000 | -49,687,000 |
| 2023-12-31 | 155,164,000 | -70,657,000 | -22,137,000 |
| 2024-12-31 | 158,236,000 | -295,547,000 | -49,233,000 |
| 2025-12-31 | 127,672,000 | -293,914,000 | -46,317,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
No reported records are available in this preview.
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2018-12-31 | 23.74 | 7.92 | 7.81 | 3.69 |
| 2019-12-31 | 23.76 | 8.67 | 8.48 | 5.57 |
| 2020-12-31 | 23.75 | -5 | -2.79 | 1.01 |
| 2021-12-31 | 23.4 | -53.9 | -84.87 | -14.03 |
| 2022-12-31 | 27.74 | -71.3 | -71.84 | -32.05 |
| 2023-12-31 | 26.17 | -25.16 | -45.54 | -14.27 |
| 2024-12-31 | 28.58 | -84.32 | -186.78 | -31.11 |
| 2025-12-31 | 22.31 | -65.33 | -230.21 | -36.28 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Snapshot retrieved 2026-11-03.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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