secwatch.observer — SEC 8-K summary
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Issuer:     BigBear.ai Holdings, Inc. (BBAI)
CIK:        0001836981
Form:       8-K
Filed at:   2026-03-02T23:59:59+00:00
Accession:  0001836981-26-000016
Event type: earnings
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BigBear.ai Q4 revenue down 38% to $27.3M; 2026 revenue guidance $135-$165M
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- Q4 2025 revenue $27.3M, down 38% YoY; gross margin 20.3% vs 37.4% in Q4 2024 due to non-recurring high-margin contracts.
- Full-year 2025 revenue $128M; FY 2026 guidance $135-$165M (~17% growth at midpoint).
- Ended 2025 with $462M cash/investments; settled remaining $125M of 2029 convertible notes in Jan 2026 via debt-to-equity.
- Closed acquisitions of Ask Sage (Dec 2025) and CargoSeer (Jan 2026); expanded into Middle East.
- Raised $693M from ATM facilities and warrants in 2025; reduced debt by over 90%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1836981/000183698126000016/0001836981-26-000016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1836981/000183698126000016/bbai-20260302.htm
  HTML page:      https://secwatch.observer/filing/0001836981-26-000016

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