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BigBear: quarterlies, annuals, SEC actions

BigBear claims momentum with Pangiam biometrics contracts
BigBear: quarterlies, annuals, SEC actions
 

The first earnings report from BigBear.ai since its acquisition of Pangiam shows revenues of $33.1 million for Q1 2024, down 31 percent from the same quarter a year earlier.

The company cites several airport biometrics project wins as indications of momentum, and CEO Mandy Long says the results show steady progress in BigBear’s focus on bringing AI to national security, digital identity and logistics.

BigBear has provided full-year 2024 guidance of revenues ranging from $195 million to $215 million.

Losses chopped for BigBear, but 2023 revenue flat

March 11, 2024 – BigBear saw its losses narrow markedly during its last fiscal year, ended December 31. The AI company also completed its buyout of Pangiam.

BigBear reported a loss of $60.3 million, or $0.40 per basic and diluted share, on revenue of $155.1 million for fiscal 2023. This compares to a loss $121.6 million, $0.95, on revenue of $155 million for the same period a year ago.

For the fourth quarter, BigBear reported a loss of $21.2 million, $0.14, on revenue of $40.5 million. This compares to a Q4 2022 loss of $29.8 million, $0.23, on revenue of $40.3 million.

Exec shuffle at BigBear after Pangiam buyout sealed

March 5, 2024 – BigBear has named Kevin McAleenan president of the public-sector IT decision-support firm. McAleenan had served as CEO of Pangiam until BigBear bought the near-field vision AI company. Read more here.

Pangiam to merge biometrics with BigBear.ai CV analytics in $70M deal

Nov 26, 2023 – Pangiam has been acquired by Maryland-based BigBear.ai for $70 million in stock to combine its facial recognition and other biometrics with computer vision capabilities for U.S. government and enterprise customers. Read more here.

 

More financial and industry news about BigBear here.

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