secwatch.observer — SEC 8-K summary
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Issuer:     BigBear.ai Holdings, Inc. (BBAI)
CIK:        0001836981
Form:       8-K
Filed at:   2025-03-06T23:59:59+00:00
Accession:  0001628280-25-010934
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BigBear.ai Q4 revenue $43.8M (+8% YoY); 2025 outlook $160-180M; net debt cut to $27M
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- Q4 2024 revenue $43.8M, up 8% YoY from $40.6M; gross margin 37.4% vs 32.1%.
- GAAP net loss $108.0M, driven by $93.3M non-cash derivative liability change.
- Exchanged $182.3M of 6% 2026 notes for 6% 2029 secured notes; $58M converted to equity post-Q4.
- Cash $50.1M at Dec 31; received $64.7M from warrant exercises in Q1 2025; net debt now $27M.
- FY 2025 guidance: revenue $160-180M; negative single-digit Adjusted EBITDA.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1836981/000162828025010934/0001628280-25-010934-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1836981/000162828025010934/bbai-20250306.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-010934

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer