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BigBear.ai Holdings (BBAI) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · BigBear.ai Holdings (BBAI) Q3 2026 earnings results →
Q3 2026 Revenue up 32% year over year to $43.6M · 211¢ of every $1 of revenue lost · operating margin -229.4%
BigBear.ai Holdings made $43.6M in Q3 2026 (+32% Y/Y). Operating margin -229.4%, net loss $91.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.
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Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $43.6M in Q3 2026, up 31% year over year and up 19% from the previous quarter.
Gross margin was 31.2%, up 8.8 points from Q3 2025. Operating costs exceeded revenue by $100.0M, an operating margin of -229.4%. Operating expenses grew 288% against revenue growth of 31%. The fastest-growing cost line was Other operating costs (+11545%). The quarter ended with a net loss of $91.9M, wider than the previous quarter's $25.7M loss.
Operating cash flow was −$9.6M. Non-cash charges added back $6.6M of depreciation and amortization and $4.6M of share-based compensation. Working capital and other items added $71.0M. Capital expenditures of $244K exceeded it, leaving free cash flow of −$9.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 28, 2026 | $43.6M | +32% | -229.4% | −$91.9M | −$9.6M |
| Q2 2026 | 10-Q | Jul 30, 2026 | $36.7M | +13% | -77.7% | −$25.7M | −$22.2M |
| Q1 2026 | 10-Q | May 5, 2026 | $34.4M | -0.9% | -70.4% | −$56.8M | −$18.0M |
| Q4 2025 | 10-K | Mar 2, 2026 | $27.3M | -38% | -295.0% | −$5.8M | −$21.8M |
| Q3 2025 | 10-Q | Nov 10, 2025 | $33.1M | -20% | -66.0% | $2.5M | −$9.6M |
| Q2 2025 | 10-Q | Aug 11, 2025 | $32.5M | -18% | -278.1% | −$229M | −$3.9M |
| Q1 2025 | 10-Q | May 2, 2025 | $34.8M | +5% | -61.0% | −$62.0M | −$6.7M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- U.S. government · Stated in 10-K (XBRL) · source
Buys from
- MSFT · Stated in 10-K (named, share not stated) · source
- AMZN · Stated in 10-K (named, share not stated) · source
- GOOGL · Stated in 10-K (named, share not stated) · source
About BigBear.ai Holdings
BigBear.ai Holdings, Inc.’s (“BigBear.ai” or the “Company”) is a specialized provider of mission-ready artificial intelligence (“AI”) technology, founded originally to serve defense and national security mission customers. Our objective is to deliver enduring strategic advantage for the U.S., its allies, and select commercial partners. We unite cutting-edge technology capabilities - from artificial intelligence to computer vision, predictive analytics and biometrics. National security, travel and trade are our core industries. Each area is highly specialized and requires deep domain expertise. They are also interdependent. Strengthening national security enables commerce and provides the baseline of trust necessary for nations to build prosperity.
In its own words, from its 10-K, filed Mar 2, 2026.
BigBear.ai Holdings against its Services-Prepackaged Software peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +32% against the peers' median +19%. Operating margin: -229.4% against the peers' median 15.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| BBAI BigBear.ai Holdings | Q3 2026 | $43.6M | +32% | -229.4% |
| MSFT Microsoft | Q1 FY27 | $92.3B | +19% | 49.8% |
| ORCL Oracle | Q1 FY27 | $19.3B | +30% | 34.8% |
| CRM Salesforce | Q2 FY27 | $11.3B | +11% | 20.5% |
| ADBE Adobe | Q3 FY26 | $6.8B | +13% | 34.8% |
| XYZ Block | Q3 2026 | $6.7B | +10% | 6.4% |
| INTU Intuit | Q4 FY26 | $4.4B | +14% | 10.9% |
| NOW ServiceNow | Q3 2026 | $4.1B | +20% | 9.4% |
| SHOP Shopify | Q3 2026 | $3.7B | +32% | 15.2% |
Source: BigBear.ai Holdings 10-Q on SEC EDGAR · CIK 1836981 · Services-Prepackaged Software
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More on BBAI
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results