BBAIBigBear.ai Holdings, Inc.
Services-Prepackaged Software
- Revenue
- $128M
- 19% YoY
- Operating margin
- -167.5%
- 99% YoY
- EBITDA
- −$199M
- 63% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- −$60M net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCFired18% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear21% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $146M | $155M | $155M | $158M | $128M | 19% |
| Operating income | −$78M | −$111M | −$39M | −$133M | −$214M | 60% |
| Net income | −$124M | −$111M | −$71M | −$296M | −$294M | 0.7% |
| Operating cash flow | −$20M | −$49M | −$18M | −$38M | −$42M | 10% |
| Capex | $645K | $769K | $2K | $484K | $525K | 8.5% |
| Stock-based comp | $61M | $11M | $19M | $21M | $23M | 10% |
| Buybacks | $0 | $101M | $0 | $0 | — |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 802 | 287 |
| FY2024 | — | — | 661 | 216 |
| FY2023 | — | — | 318 | 158 |