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BigBear.ai Holdings, Inc.

BBAI Clue Score26
United States Fiscal year ends December CIK 0001836981
$2.39 -1.24% Close, 9 Oct 2026
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Price $2.39 +55.19% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 17 Dec 2021. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2019Revenue73.6Operating income6.4Net income6.2Fiscal year 2021Revenue145.6 +97.7%Operating income−78.5Net income−123.6 −2,078.1%EPS, diluted−1.15Fiscal year 2022Revenue155.0 +6.5%Operating income−110.5Net income−111.4EPS, diluted−0.87Fiscal year 2023Revenue155.2 +0.1%Operating income−39.0Net income−70.7EPS, diluted−0.47Fiscal year 2024Revenue158.2 +2.0%Operating income−133.4Net income−295.5EPS, diluted−1.27Fiscal year 2025Revenue127.7 −19.3%Operating income−213.9Net income−293.9EPS, diluted−0.82
FY2019FY2021FY2022FY2023FY2024FY2025
Revenue 73.6 145.6 155.0 155.2 158.2 127.7
Growth +97.7% +6.5% +0.1% +2.0% −19.3%
Operating income 6.4 −78.5 −110.5 −39.0 −133.4 −213.9
Net income 6.2 −123.6 −111.4 −70.7 −295.5 −293.9
Growth −2,078.1%
EPS, diluted n/a −1.15 −0.87 −0.47 −1.27 −0.82

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2019Gross margin23.8%Operating margin8.7%Net margin8.5%Free cash flow margin5.6%Fiscal year 2021Gross margin23.4%Operating margin−53.9%Net margin−84.9%Free cash flow margin−14.0%Fiscal year 2022Gross margin27.7%Operating margin−71.3%Net margin−71.8%Free cash flow margin−32.1%Fiscal year 2023Gross margin26.2%Operating margin−25.2%Net margin−45.5%Free cash flow margin−11.8%Fiscal year 2024Gross margin28.6%Operating margin−84.3%Net margin−186.8%Free cash flow margin−24.4%Fiscal year 2025Gross margin22.3%Operating margin−167.5%Net margin−230.2%Free cash flow margin−33.3%
FY2019FY2021FY2022FY2023FY2024FY2025
Gross margin 23.8% 23.4% 27.7% 26.2% 28.6% 22.3%
Operating margin 8.7% −53.9% −71.3% −25.2% −84.3% −167.5%
Net margin 8.5% −84.9% −71.8% −45.5% −186.8% −230.2%
Free cash flow margin 5.6% −14.0% −32.1% −11.8% −24.4% −33.3%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2019Operating cash flow4.1Capital expenditure−0.0Free cash flow4.1Fiscal year 2021Operating cash flow−19.8Capital expenditure−0.6Free cash flow−20.4 −597.9%Buybacks0.0Fiscal year 2022Operating cash flow−48.9Capital expenditure−0.8Free cash flow−49.7Buybacks−100.9Fiscal year 2023Operating cash flow−18.3Capital expenditure−0.0Free cash flow−18.3Buybacks0.0Fiscal year 2024Operating cash flow−38.1Capital expenditure−0.5Free cash flow−38.6Buybacks0.0Fiscal year 2025Operating cash flow−42.0Capital expenditure−0.5Free cash flow−42.5
FY2019FY2021FY2022FY2023FY2024FY2025
Operating cash flow 4.1 −19.8 −48.9 −18.3 −38.1 −42.0
Capital expenditure −0.0 −0.6 −0.8 −0.0 −0.5 −0.5
Free cash flow 4.1 −20.4 −49.7 −18.3 −38.6 −42.5
Growth −597.9%
Buybacks n/a 0.0 −100.9 0.0 0.0 n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2019Cash1.6Shareholders’ equity11.7Fiscal year 2021Cash68.9Total debt194.6Net cash (debt)−125.7Shareholders’ equity159.7Debt to equity1.22Fiscal year 2022Cash12.6Total debt194.4Net cash (debt)−181.7Shareholders’ equity9.8Debt to equity19.93Fiscal year 2023Cash32.6Total debt157.4Net cash (debt)−124.8Shareholders’ equity−30.0Fiscal year 2024Cash50.1Total debt136.2Net cash (debt)−86.1Shareholders’ equity−3.7Fiscal year 2025Cash87.1Total debt107.0Net cash (debt)−19.9Shareholders’ equity611.9Debt to equity0.17
FY2019FY2021FY2022FY2023FY2024FY2025
Cash 1.6 68.9 12.6 32.6 50.1 87.1
Total debt n/a 194.6 194.4 157.4 136.2 107.0
Net cash (debt) n/a −125.7 −181.7 −124.8 −86.1 −19.9
Shareholders’ equity 11.7 159.7 9.8 −30.0 −3.7 611.9
Debt to equity n/a 1.22 19.93 n/a n/a 0.17

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2019 31 Dec 2019 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
23.8% 23.4% 27.7% 26.2% 28.6% 22.3%
8.7% −53.9% −71.3% −25.2% −84.3% −167.5%
8.5% −84.1% −73.1% −45.7% −186.9% −247.2%
8.5% −84.9% −71.8% −45.5% −186.8% −230.2%
5.6% −14.0% −32.1% −11.8% −24.4% −33.3%
Spending
0.1% 4.1% 5.4% 3.2% 6.9% 13.1%
14.9% 73.2% 54.7% 45.8% 50.6% 74.5%
0.0% 0.4% 0.5% 0.0% 0.3% 0.4%
0.1% n/a n/a n/a n/a n/a
Returns
53.5% −77.4% −1,141.6% n/a n/a −48.0%
n/a −32.2% −57.0% −35.3% −86.0% −32.9%
Balance and payout
n/a 1.22 19.93 n/a n/a 0.17
n/a 68.1% 119.4% 115.0% 101.1% 31.6%