---
schema_version: "secwatch.filing_event.v1"
accession: "0001836981-26-000047"
form_type: "8-K"
ticker: "BBAI"
cik: "0001836981"
company_name: "BigBear.ai Holdings, Inc."
filed_at: "2026-05-05T23:59:59+00:00"
generated_at: "2026-05-14T23:33:16.713649+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001836981-26-000047
- form_type: 8-K
- ticker: BBAI
- cik: 0001836981
- company_name: BigBear.ai Holdings, Inc.
- filed_at: 2026-05-05T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1836981/000183698126000047/0001836981-26-000047-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1836981/000183698126000047/bbai-20260505.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001836981-26-000047
- JSON: https://secwatch.observer/filing/0001836981-26-000047.json
- Plain text: https://secwatch.observer/filing/0001836981-26-000047.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1836981/000183698126000047/0001836981-26-000047-index.htm

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