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BigBear.AI's first-quarter 2026 revenue held roughly flat at $34.4 million year over year, as higher-margin GenAI revenue from the Ask Sage acquisition offset lower volume on U.S. Army programs. Gross margin expanded sharply to 34%, and backlog rose 14% from the fourth quarter to $281.9 million on new wins including an approximately $53 million classified intelligence-community contract as prime contractor and shipyard deals with Chantier Davie and Bollinger. The GAAP net loss narrowed to $56.8 million from about $62 million, though roughly $36 million of non-cash derivative and debt-extinguishment charges tied to the January note conversion drove the reported figure, and the adjusted EBITDA loss widened to $9.9 million as the company stepped up sales and R&D investment. Management reaffirmed full-year 2026 revenue guidance of $135 million to $165 million and ended the quarter with $131 million in cash and investments.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $44M | +8.0% | $-0.59 | -195.0% | — | -18.6% | -334.2% | $-18M |
| FY2025 Q1 | $35M | +4.9% | $-0.25 | +62.7% | — | -56.1% | -178.3% | $-8M |
| FY2025 Q2 | $32M | -18.4% | $-0.71 | -1320.0% | — | -54.7% | -704.0% | $-5M |
| FY2025 Q3 | $33M | -20.1% | $-0.03 | +38.4% | — | -64.0% | 7.6% | $-11M |
| FY2025 Q4 | $27M | -37.7% | $-0.01 | +98.3% | — | -88.9% | -21.4% | $-22M |
| FY2026 Q1Selected | $34M | -0.9% | $-0.12 | +52.0% | — | -66.9% | -164.8% | $-18M |
| FY2026 Q2 | $37M | +13.2% | $-0.05 | +93.0% | — | -74.4% | -70.1% | $-23M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Calendar quarter Q1 2026Earnings call May 5, 2026
FY2026 Q1 in brief
BigBear.AI's first-quarter 2026 revenue held roughly flat at $34.4 million year over year, as higher-margin GenAI revenue from the Ask Sage acquisition offset lower volume on U.S. Army programs.
Newest quarter FY2026 Q2 is part of Pro · see what Pro adds →
GAAP revenue YoY -0.93% → base 4. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
Sources. Tellvest earnings-call sentiment score for BigBear.ai Holdings, Inc. (BBAI), FY2026 Q1: 4/10. Scores: BigBear.ai Holdings, Inc.’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: BBAI daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
What BBAI and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“The other is with Bollinger Shipyards, a leading designer and builder of high-performance vessels and a critical part of the U.S. defense industrial base.”
US defense shipbuilder Bollinger Shipyards signed a new Shipyard AI contract with BigBear.ai amid a $65.8B naval shipbuilding budget request.
“The first is with Chantier Davie, Canada’s premier shipbuilder and a global leader in delivery of mission-critical vessels to government and commercial customers.”
Canadian shipbuilder Chantier Davie signed a new contract for BigBear.ai's Shipyard AI modeling and simulation platform.
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|---|---|---|---|
BBAI BigBear.ai Holdings, Inc. | 4 | -0.9% | |
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| APLD Applied Digital Corp. | 8 | +139.3% | |
| BR Broadridge Financial Solutions | 8 | +7.8% | |
| CDW CDW | 8 | +9.3% | |
| CTSH Cognizant | 8 | +5.8% | |
| EPAM EPAM Systems | 8 | +7.6% | |
| FIS Fidelity National Information Services | 7 | +30.1% | |
| FISV Fiserv, Inc. | 3 | -2.0% | |
| IBM International Business Machines Corporation | 8 | +9.5% | |
| IREN IREN Limited | 6 | -0.0% | |
| IT Gartner | 8 | +2.0% | |
| JKHY Jack Henry & Associates | 8 | +8.7% | |
| LDOS Leidos | 7 | +3.6% |