---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-056086"
form_type: "8-K"
ticker: "BBAI"
cik: "0001836981"
company_name: "BigBear.ai Holdings, Inc."
filed_at: "2025-03-18T23:59:59+00:00"
generated_at: "2026-05-24T14:17:04.098940+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# BigBear.ai restates 2022-2024 financials; prior statements no longer reliable

## Summary
- Board concludes 2022-2023 audited and 2023-2024 interim financials should not be relied upon due to accounting for convertible notes.
- Preliminary restated loss before taxes: 2022 $113.4M ($10M improvement), 2023 $71.3M ($11M worse), 2024 $296.1M ($39M worse).
- Adjustments relate to embedded conversion option on 2026 Notes; 90% of principal retired in Dec 2024 via 2029 Notes.
- Revenues, gross margin, Adjusted EBITDA, operating cash flows, and 2025 guidance are unaffected.
- Audit by Grant Thornton ongoing; final amounts may change.

## SEC filing metadata
- accession: 0001193125-25-056086
- form_type: 8-K
- ticker: BBAI
- cik: 0001836981
- company_name: BigBear.ai Holdings, Inc.
- filed_at: 2025-03-18T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.02, 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1836981/000119312525056086/0001193125-25-056086-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1836981/000119312525056086/d925610d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-056086
- JSON: https://secwatch.observer/filing/0001193125-25-056086.json
- Plain text: https://secwatch.observer/filing/0001193125-25-056086.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.