Filing Flows › BigBear.ai Holdings (BBAI) › Q1 2025
BigBear.ai Holdings (BBAI) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 2, 2025
BigBear.ai Holdings (BBAI) reported revenue of $34.8M for the first quarter 2025 (Q1 2025), +5% from a year earlier and -21% from the quarter before. Operating margin was -61.0%, net loss $62.0M (178.3% of revenue).
BigBear.ai Holdings, Q1 2025: revenue $34.8M (+5% year over year), operating margin -61.0%, net loss $62.0M, operating cash flow −$6.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $34.8M | -21% | +5% |
| Operating profit | −$21.2M | — | — |
| Net earnings | −$62.0M | — | — |
| Operating cash flow | −$6.7M | — | — |
What changed
Revenue was $34.8M in Q1 2025, up 5% year over year and down 21% from the previous quarter.
Gross margin was 21.3%, up 0.2 points from a year earlier. Operating costs exceeded revenue by $21.2M, an operating margin of -61.0%. Operating expenses fell 73% while revenue rose 5%. The fastest-growing cost line was Research & development (+264%). The quarter ended with a net loss of $62.0M, narrower than the previous quarter's $138.2M loss. Net interest and other expense of $40.8M was the main reason.
Operating cash flow was −$6.7M. Non-cash charges added back $3.5M of depreciation and amortization and $7.4M of share-based compensation. Working capital and other items added $44.5M. Capital expenditures of $80K exceeded it, leaving free cash flow of −$6.7M.
Questions
What was BigBear.ai Holdings' revenue in the first quarter 2025?
BigBear.ai Holdings (BBAI) reported revenue of $34.8M for the first quarter 2025 (Q1 2025), +5% from a year earlier and -21% from the quarter before.
Was BigBear.ai Holdings profitable in the first quarter 2025?
Operating loss was $21.2M (-61.0% of revenue) and net loss $62.0M.