Filing Flows › BigBear.ai Holdings (BBAI) › Q1 2026
BigBear.ai Holdings (BBAI) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
BigBear.ai Holdings (BBAI) reported revenue of $34.4M for the first quarter 2026 (Q1 2026), -0.9% from a year earlier and +26% from the quarter before. Operating margin was -70.4%, net loss $56.8M (164.8% of revenue).
BigBear.ai Holdings, Q1 2026: revenue $34.4M (-0.9% year over year), operating margin -70.4%, net loss $56.8M, operating cash flow −$18.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $34.4M | +26% | -0.9% |
| Operating profit | −$24.3M | — | — |
| Net earnings | −$56.8M | — | — |
| Operating cash flow | −$18.0M | — | — |
What changed
Revenue was $34.4M in Q1 2026, down 1% year over year and up 26% from the previous quarter.
Gross margin was 34.0%, up 12.8 points from Q1 2025. Operating costs exceeded revenue by $24.3M, an operating margin of -70.4%. Operating expenses grew 26% against a revenue fall of 1%. The fastest-growing cost line was Research & development (+33%). The quarter ended with a net loss of $56.8M, wider than the previous quarter's $5.8M loss. Net interest and other expense of $32.5M was the main reason.
Operating cash flow was −$18.0M. Non-cash charges added back $7.1M of depreciation and amortization and $3.4M of share-based compensation. Working capital and other items added $28.3M. Capital expenditures of $319K exceeded it, leaving free cash flow of −$18.3M.
Questions
What was BigBear.ai Holdings' revenue in the first quarter 2026?
BigBear.ai Holdings (BBAI) reported revenue of $34.4M for the first quarter 2026 (Q1 2026), -0.9% from a year earlier and +26% from the quarter before.
Was BigBear.ai Holdings profitable in the first quarter 2026?
Operating loss was $24.3M (-70.4% of revenue) and net loss $56.8M.