On March 17, BigBear.ai Inc. (BBAI) declared its financial results for Q4 and fiscal 2021, along with the outlook for fiscal 2022. Consequently, the stock took a harsh hit and collapsed in the after hours.
BBAI stock remained in the red during the regular session as investors seemed to be worried and unsure of the company’s earnings. At an above-average volume of 708.86K shares, the stock fluctuated between $8.29 and $9.06 during the session. The stock closed the session with a loss of 1.89% at a price of $8.29 per share. Following the results, the stock nosedived by a huge 24.49% or $2.03 in the after hours. Thus, BBAI was trading at a value of $6.26 per share in the after-hours on Thursday.
Focused on data-driven decision dominance and advanced analytics, BigBear.ai Inc. provides a competitive advantage to its customers in the world of fast-growing data. Currently, the company’s 135.57 million outstanding shares trade at a market capitalization of $1.15 billion.
BBAI’s 2021 Financial Highlights
The company reported revenue of $33.5 million for Q4 and $145.6 million for fiscal 2021.
Moreover, the gross margin was 11% and 23% for Q4 and fiscal 2021, respectively.
Furthermore, BBAI incurred a net loss of $114.8 million in Q4 2021, while for fiscal 2021 the net loss was $123.6 million.
The company had a non-GAAP adjusted EBITDA of $(2.3) million for Q4 and $4.9 million for the full year.
Additionally, the ending backlog was $456 million and cash plus cash equivalents totaled $68.9 million on December 31, 2021.
Fiscal 2022 Outlook
For fiscal 2022, the company expects revenue to be in the range of $175 million and $205 million, with commercial revenue of $20 million approx. and a positive adjusted EBITDA.
Recently, the company announced on March 09, that it plans on showcasing its award-winning technology used in space, intelligence, logistics, and other sectors at various events. The company’s management participated in a panel discussion at South by Southwest on March 15, 2022. Further, BBAI’s executives will be participating in a panel discussion regarding foundational intelligence at the USGIF GEOINT Symposium. The symposium will take place from April 24 to 27, 2022.
Additions to Leadership Team
On February 22, the company announced the appointment of Todd Hughes as Senior Vice President of Technology and Research. And, Dan Jones was appointed as Senior Vice President of Products. Both the new team members work under CTO Brian Frutchey.