BigBear.ai Holdings, Inc. (BBAI) AI Stock Summary

Snapshot

BigBear.ai is a defense and security AI company that is currently unprofitable and shrinking. Fiscal 2025 revenue fell 19.3% to $127.7 million, and the company reported a net loss of $293.9 million. The losses are driven by high operating expenses, with selling, general, and administrative costs consuming 74.5% of revenue. Despite the red ink, the balance sheet is strong: the company holds $87.1 million in cash against only $24.3 million in debt, providing a comfortable 17.8-month cash runway. However, the share count exploded by 1,435% over the last year due to significant dilution from capital raises and acquisitions. The stock trades near its 52-week low, reflecting investor concern over the revenue decline and massive share issuance, even as the company bets on new AI acquisitions like Ask Sage to drive future growth.

What's Happening Right Now

• Thu 7th May '26 · Earnings & Backlog: BigBear.ai reported Q1 2026 revenue of $34.4 million, beating estimates, while gross margins expanded to 34%. The company increased its backlog by 14% to $281.9 million, driven by a $53 million classified national security contract, and reaffirmed full-year revenue guidance of $135 million to $165 million.
• Thu 16th Apr '26 · Legal Investigation: The Portnoy Law Firm announced an investigation into possible securities fraud at BigBear.ai, advising investors that a class action lawsuit may be filed on their behalf.
• Wed 8th Apr '26 · Executive Hires: BigBear.ai appointed Jo Ann Bjornson as Chief Human Resources Officer and Alex Thompson as Chief Corporate Affairs Officer, adding to its executive leadership team.

Ownership

Institutions hold 38.7% of the shares, while insiders hold 1.1%.

Bottom Line

BigBear.ai is a high-risk, high-volatility play on defense AI. The business is losing money and revenue is shrinking, which is a concerning trend. The massive increase in share count over the last year is a major headwind, as it spreads future profits across many more shares. On the positive side, the company has a strong cash position, no near-term risk of running out of money, and a growing backlog of government contracts. The stock is cheap in absolute terms, trading near its yearly lows, but that reflects the market's skepticism about its path to profitability. A reader should view this as a speculative bet on whether the company's new AI acquisitions can reverse the revenue decline, not as a stable, profitable business.