The company posted a net loss of $228.6 million, compared to $14.4 million in the same period last year
COLUMBIA: BigBear.ai Holdings, Inc. (NYSE: BBAI), a provider of AI-powered decision intelligence solutions, reported a widened net loss for the second quarter of 2025, citing federal contract disruptions and strategic investments tied to emerging opportunities in national security and international markets.
The company posted a net loss of $228.6 million, compared to $14.4 million in the same period last year. The decline was driven by non-cash changes in derivative liabilities and a $70.6 million goodwill impairment charge. Revenue fell 18% year-over-year to $32.5 million, primarily due to reduced volume on U.S. Army programs.
CEO Kevin McAleenan said BigBear.ai is positioning itself to capitalize on the “One Big Beautiful Bill,” a sweeping U.S. legislative package that allocates $170 billion to the Department of Homeland Security and $150 billion to the Department of Defense for disruptive defense technologies.
“This is not incremental funding for innovation — this is a transformative level of investment,” McAleenan said. “As a Mission Ready AI company with a national and border security focus, it’s directly in our lane.”
The company also announced a strategic partnership with UAE-based firms under the IHC umbrella, aimed at accelerating AI adoption across multiple sectors. CFO Sean Ricker noted that BigBear.ai’s record cash balance will support both organic and inorganic growth initiatives.
Despite optimism around future opportunities, the company adjusted its full-year guidance due to federal contract disruptions and increased R&D spending. BigBear.ai now projects 2025 revenue between $125 million and $140 million and has withdrawn its previous Adjusted EBITDA forecast.
Backlog stood at $380 million as of June 30.