BigBear.ai Achieves 16% YoY Revenue Growth in First Quarter 2023

Intelligence solutions provider, BigBear.ai (NYSE: BBAI) has announced its financial results for the first quarter of 2023.

Revenue growth of nearly 16% YoY was driven by key programs with the U.S. Army including the Global Force Information Management Phase 2 contract.

Highlights

Revenue grew 15.8% to $42.2 million for the first quarter of 2023, compared to $36.4 million for the first quarter of 2022.

Revenue growth was driven by key programs with the U.S. Army including the Global Force Information Management Phase 2 contract.

Bigbear.ai’s entered an agreement with L3Harris to be the exclusive provider of computer vision, predictive analytics and event alerting analytics applications for autonomous surface vessels and associated shore-based C2 maritime operations systems for the Department of Defense.

About BigBear.ai

BigBear.ai’s mission is to deliver clarity for the world’s most complex decisions. BigBear.ai’s AI-powered decision intelligence solutions are leveraged in three core markets, including global supply chains and logistics, autonomous systems and cyber. BigBear.ai’s customers, which include the US Intelligence Community, Department of Defense, the US Federal Government, complex manufacturing, distribution, and healthcare, rely on BigBear.ai’s solutions to empower leaders to decide on the best possible scenario by creating order from complex data, identifying blind spots, and building predictive outcomes.