BigBear.ai reported second-quarter 2026 results showing revenue of $36.7 million, up 13% year-over-year, and gross margin expansion to 32.8% from 25.0% a year earlier. The company recorded a net loss of $25.7 million for the quarter and reported Adjusted EBITDA of $(11.6) million. Management affirmed full-year 2026 revenue guidance of $135 million to $165 million and reported available cash and investments of $409.8 million as of June 30, 2026.
Financial Highlights
- Revenue: $36.7 million for the three months ended June 30, 2026, a 13% increase versus $32.5 million in Q2 2025.
- Gross profit: $12.1 million for Q2 2026, representing a gross margin of 32.8% (up from 25.0% in Q2 2025).
- Operating loss: $(28.6) million for Q2 2026 (operating loss reported in the consolidated statement).
- Net loss: $(25.7) million for Q2 2026, compared with $(228.6) million in Q2 2025.
- Adjusted EBITDA: $(11.6) million for Q2 2026 (compared with $(8.5) million in Q2 2025).
Business Highlights
- Backlog increased to $269.6 million (9% increase between December 31, 2025 and June 30, 2026), indicating continued contracted demand.
- Reported more than 20 new contract wins during the quarter, reflecting continued commercial traction.
- Revenue growth driven in part by Ask Sage’s GenAI platforms and products, which contributed higher-margin volume in the period.
- Management emphasized focus on execution discipline, positioning for accretive M&A and scaling topline growth into 2027.
- Strong liquidity position with total available cash and investments of $409.8 million as of June 30, 2026 to support operations and strategic opportunities.
Original SEC Filing:
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