BigBear.ai Holdings, Inc. (BBAI) Income Statement
BBAI 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsBBAI revenue and net income
Where BBAI's revenue goes
2025Each bar shows an amount and its share of revenue. BBAI kept −230.2% of revenue as net income.
BBAI profit margins
BBAI growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −19.3% | −6.3% | +6.9% | — |
| Gross profit | −37.0% | −12.8% | +5.6% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
BBAI quarterly EPS vs estimates
BigBear.ai beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: October 27, 2026 (estimate $-0.05).
BBAI income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $127.7M | $158.2M | $155.2M | $155.0M | $145.6M | $91.3M | $73.6M | $49.4M |
| Cost of revenue | $99.2M | $113.0M | $114.6M | $112.0M | $111.5M | $69.6M | $56.1M | $37.7M |
| Gross profit | $28.5M | $45.2M | $40.6M | $43.0M | $34.1M | $21.7M | $17.5M | $11.7M |
| Research & development | $16.8M | $10.9M | $5.0M | $8.4M | $6.0M | $615,000 | $110,000 | $0 |
| Sales, general & admin | $95.1M | $70.6M | $65.8M | $90.5M | $107.3M | — | $11.0M | $7.8M |
| Total operating expenses | $111.9M | $178.6M | $79.6M | $153.5M | $112.5M | $26.2M | $11.1M | $7.8M |
| Operating income | −$83.4M | −$133.4M | −$39.0M | −$110.5M | −$78.5M | −$4.6M | $6.4M | $3.9M |
| Interest income | $13.3M | $2.3M | $392,000 | — | — | — | — | — |
| Interest expense | $18.1M | $25.6M | $14.2M | $14.4M | $7.8M | $0 | $127,000 | $42,000 |
| Income before taxes | −$315.6M | −$295.8M | −$70.4M | −$109.5M | −$122.5M | $80,999 | $6.3M | $3.9M |
| Income taxes | −$21.7M | −$256,000 | $221,999 | $1.9M | $1.1M | $2.6M | $9,000 | $12,000 |
| Net income | −$293.9M | −$295.5M | −$70.7M | −$111.4M | −$123.6M | −$2.5M | $6.2M | $3.9M |
| EBITDA | −$260.5M | −$258.3M | −$22.3M | −$48.2M | −$71.2M | $6.6M | $6.4M | $4.0M |
| EPS (diluted) | −$0.96 | −$0.53 | −$0.30 | −$0.47 | −$1.07 | −$0.02 | — | — |
| Gross margin | 22.3% | 28.6% | 26.2% | 27.7% | 23.4% | 23.7% | 23.8% | 23.7% |
| Operating margin | −65.3% | −84.3% | −25.2% | −71.3% | −53.9% | −5.0% | 8.7% | 7.9% |
| Net margin | −230.2% | −186.8% | −45.5% | −71.8% | −84.9% | −2.8% | 8.5% | 7.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $36.7M | $34.4M | $27.3M | $33.1M | $32.5M | $34.8M | $43.8M | $41.5M | $39.8M | $33.1M | $40.6M | $34.0M |
| Cost of revenue | $24.7M | $22.7M | $21.8M | $25.7M | $24.4M | $27.4M | $27.4M | $30.7M | $28.7M | $26.1M | $27.5M | $25.6M |
| Gross profit | $12.1M | $11.7M | $5.5M | $7.4M | $8.1M | $7.4M | $16.4M | $10.8M | $11.1M | $7.0M | $13.0M | $8.4M |
| Research & development | $7.6M | $5.5M | $4.8M | $3.4M | $4.4M | $4.2M | $2.3M | $3.8M | $3.6M | $1.1M | $2.0M | $349,000 |
| Sales, general & admin | $31.8M | $29.2M | $25.7M | $25.3M | $21.5M | $22.7M | $19.4M | $17.5M | $23.4M | $16.9M | $15.4M | $15.5M |
| Total operating expenses | $39.4M | $34.8M | $29.8M | $28.6M | $25.9M | $26.9M | $24.5M | $21.3M | $27.7M | $18.1M | $21.6M | $16.6M |
| Operating income | −$27.4M | −$23.0M | −$24.3M | −$21.2M | −$17.8M | −$19.5M | −$8.1M | −$10.5M | −$16.7M | −$11.1M | −$8.6M | −$8.2M |
| Interest income | $3.8M | $3.8M | — | — | $1.7M | $556,000 | — | — | — | — | — | — |
| Interest expense | $307,000 | $317,000 | $4.0M | $4.6M | $4.4M | $5.1M | $15.0M | $3.5M | $6.5M | $3.6M | $3.5M | $3.5M |
| Income before taxes | −$25.7M | −$56.7M | −$5.9M | $2.5M | −$228.6M | −$62.0M | −$146.2M | −$12.2M | −$14.4M | −$125.2M | −$31.3M | $4.0M |
| Income taxes | $5,000 | $14,000 | −$56,000 | $17,000 | $14,000 | $25,000 | $277,999 | $21,000 | $15,000 | −$14,000 | $272,999 | −$5,000 |
| Net income | −$25.7M | −$56.8M | −$5.8M | $2.5M | −$228.6M | −$62.0M | −$146.5M | −$12.2M | −$14.4M | −$125.1M | −$31.5M | $4.0M |
| EBITDA | −$18.6M | −$49.4M | $2.3M | $11.3M | −$220.7M | −$19.5M | −$2.2M | −$5.2M | −$5.1M | −$119.2M | −$2.5M | $9.5M |
| EPS (diluted) | −$0.04 | −$0.12 | −$0.01 | $0.01 | −$0.71 | −$0.25 | −$0.43 | −$0.02 | −$0.04 | −$0.04 | −$0.14 | −$0.03 |
| Gross margin | 32.8% | 34.0% | 20.3% | 22.4% | 25.0% | 21.3% | 37.4% | 25.9% | 27.8% | 21.1% | 32.1% | 24.7% |
| Operating margin | −74.4% | −66.9% | −88.9% | −64.0% | −54.7% | −56.1% | −18.6% | −25.4% | −41.9% | −33.5% | −21.1% | −24.2% |
| Net margin | −70.1% | −164.8% | −21.4% | 7.6% | −704.0% | −178.3% | −334.2% | −29.3% | −36.3% | −377.8% | −77.8% | 11.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in BBAI's financial statements (latest annual report filed March 2, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
BBAI financial results
In fiscal year 2025 (ended December 31, 2025), BigBear.ai reported revenue of $127.7 million, down 19.3% from the year before. It had a net loss of $293.9 million, a net profit margin of −230.2%. Diluted earnings per share came to −$0.96. Over five years revenue grew at an average rate of 6.9% a year.
See the BBAI stock overview for the latest quote and news, or the BBAI chart for price history and technical indicators.
BBAI income statement FAQ
What is BigBear.ai's annual revenue?
BigBear.ai reported total revenue of $127.7 million for fiscal year 2025, which ended on December 31, 2025. That was down 19.3% from $158.2 million the previous year.
Is BigBear.ai profitable?
No. BigBear.ai reported a net loss of $293.9 million in fiscal 2025, a net profit margin of −230.2%; its operating margin was −65.3%.
What is BigBear.ai's gross margin?
BigBear.ai's gross margin was 22.3% in fiscal 2025: for every $100 of revenue, BigBear.ai kept $22 after the direct cost of its products and services.
How much does BigBear.ai spend on research and development?
BigBear.ai spent $16.8 million on research and development in fiscal 2025, 13.1% of revenue.
How fast is BigBear.ai growing?
Revenue grew 6.9% a year on average over the last five fiscal years, from $91.3 million to $127.7 million.
What are BigBear.ai's earnings per share?
BigBear.ai earned $-0.96 per diluted share in fiscal 2025, compared with $-0.53 a year earlier.
When will BigBear.ai report its next earnings?
BigBear.ai is expected to report results for the quarter ending September 30, 2026 on October 27, 2026 after the market closes.
When does BigBear.ai's fiscal year end?
BigBear.ai's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 2, 2026.