BigBear.ai Holdings, Inc. (BBAI)

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.

Ticker
BBAI
Exchange
NYSE
Sector
Technology
Industry
Information Technology Services
Market cap
$1.07B
52-week range
$2.07 - $7.40

Valuation

Share price
$2.22 (close of Nov 6, 2026)
P/E (TTM)
-5.96x
Price to book
1.56x
Price to free cash flow
-14.67x
Enterprise value
$1.01B
Book value per share
$1.42

Price performance

PeriodChange
1 day0.00%
5 days-14.62%
1 month-13.95%
3 months-26.25%
6 months-49.20%
Year to date-58.89%
1 year-60.78%
3 years+51.02%
5 years-77.69%
All time-77.42%

Short interest

As of
Oct 15, 2026
Short % of float
28.60%
Shares short
136.50M
Days to cover
6.76
Change since prior report
-3.10%
Source
FINRA consolidated short interest

Profitability and growth

Return on equity
-48.04%
Return on invested capital
-26.45%
Return on assets
-32.86%
Return on capital employed
-30.17%
Gross margin
22.31%
Net margin
-230.21%
EBITDA margin
-155.57%
Revenue growth
-19.32%

Cash flow and balance sheet

Free cash flow yield (TTM)
-6.82%
Current ratio
4.92x
Net debt to EBITDA
0.32x

Latest reported year

Period end
Dec 31, 2025
Fiscal year
2025
Revenue
$127.67M
Cost of revenue
$99.19M
Gross profit
$28.48M
EBITDA
-$198.62M
Net income
-$293.91M
Earnings per share
$-0.82
Research and development
$16.75M
Shares outstanding
358.80M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$127.67M$28.48M-$293.91M-$0.82
2024-12-31$158.24M$45.22M-$295.55M-$1.27
2023-12-31$155.16M$40.60M-$70.66M-$0.47
2022-12-31$155.01M$42.99M-$111.37M-$0.87
2021-12-31$145.58M$34.07M-$123.55M-$1.15
2019-12-31$73.63M$17.50M$6.25M$0.00
2018-12-31$49.44M$11.74M$3.86M$0.04

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3122.31%-230.21%-48.04%-26.45%
2024-12-3128.58%-186.78%--93.32%
2023-12-3126.17%-45.54%--29.30%
2022-12-3127.74%-71.84%--51.73%
2021-12-3123.40%-84.87%-77.37%-22.15%
2019-12-3123.76%8.48%53.50%-
2018-12-3123.74%7.81%--

Cash and debt by year

Period endCashDebt
2025-12-31$87.13M$90.48M
2024-12-31$50.14M$135.40M
2023-12-31$32.56M$156.16M
2022-12-31$12.63M$192.32M
2021-12-31$68.90M$190.36M
2020-12-31$9.70M-
2019-12-31$1.64M-

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31-$42.48M$23.33M
2024-12-31-$38.60M$21.13M
2023-12-31-$18.31M$18.67M
2022-12-31-$49.69M$10.87M
2021-12-31-$20.43M$60.62M
2019-12-31$4.10M$104.00K
2018-12-31$1.82M-

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2026-10-27Sep 2026-$0.06
2026-07-30Jun 2026-$0.05
2026-05-05Mar 2026-$0.08
2026-03-02Dec 2025-$0.05
2025-11-10Sep 2025-$0.06
2025-08-11Jun 2025-$0.07
2025-05-01Mar 2025-$0.06
2025-03-06Dec 2024-$0.05

Filings and sources

Company website
bigbear.ai
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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Price-to-earnings ratio · Short interest · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart

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