BigBear.ai Q1 revenue $34.4M; gross margin expands to 34%; backlog $281.9M; affirms FY26 guidance

BigBear.ai Holdings, Inc.

2026-Q1 EPS reported -$0.12 revenue$34,435,000

Revenue $34.4M; gross margin 34.0% vs 21.3% YoY (1,278 bps expansion).
Backlog rose 14% QoQ to $281.9M, driven by $53M sole-source classified award.
Settled remaining $124.6M of 2029 convertible notes; interest expense down $4.8M vs Q1 25.
Cash and investments $431.5M; FY2026 revenue guidance reaffirmed at $135M-$165M.
Launched retail shareholder voting program; CEO cites internal realignment for growth.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BigBear.ai Holdings, Inc. reported the quarter ended March 31, 2026 results: revenue $34.4 million. Guidance reaffirmed.

Period: the quarter ended March 31, 2026
Revenue: $34.4 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

1Q 26 revenue of $34.4 million; gross margins expanded 1,278 basis points from 21.3% to 34.0% year-over-year • Backlog increased 14% from the fourth quarter to $281.9 million, primarily driven by a sole-source prime classified award in the first quarter for $53 million. • Settled the remaining $124.6 million of 2029 Convertible notes, primarily through the Company’s exercise of debt-to-equity conversion features in January 2026; interest expense reduced by $4.8 million in 1Q 26 vs. 1Q 25 • Total available cash and investments of $431.5 million as of March 31, 2026 • Launched a retail shareholder voting program to broaden participation in the Company's annual meeting and ensure retail shareholders have a simple, accessible way to make their voices heard • Affirming full-year 2026 revenue guidance of $135 million - $165 million

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accession 0001836981-26-000047

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