BigBear.ai Holdings Inc (NYSE:BBAI)

Q2 2026 BigBear.ai Holdings Inc Earnings Call Transcript

Jul 30, 2026 / 08:30 PM GMT

Release Date Price: $2.83 (+9.27%)

Transcript 10-Q8-K

Key Points

Positve

Revenue for Q2 2026 increased 13% year-over-year, reaching $36.7 million.
Gross margin improved significantly by 781 basis points to 32.8%.
Won over 20 new contracts in Q2, with values up to $5 million each, and backlog grew 9% since year-end.
Achieved CMMC Level 2 certification ahead of schedule, enhancing cybersecurity credibility.
Launched new product capabilities, including air-gapped local hardware for generative AI and ConductorOS for drone swarm orchestration, expanding market reach.

Negative

Adjusted EBITDA remained negative at -$11.6 million, worsening from -$8.5 million in Q2 2025.
Net loss was $25.7 million for the quarter, though improved from a $228.6 million loss in the prior year.
Increased investments in sales, go-to-market, and R&D drove higher operating expenses.
Dependence on a few large contracts, with many wins not disclosed due to confidentiality, creates revenue concentration risk.
The company is aggressively pursuing M&A, which could lead to integration risks and potential dilution of focus.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BBAI.N - BigBear.ai Holdings Inc
Q2 2026 BigBear.ai Holdings Inc Earnings Call
Jul 30, 2026 / 08:30PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings and welcome to the.

The Big Bear AI Holdings Inc. Second Quarter 2026 Earnings Call and Webcast. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation.

As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Sean Ricker, Chief Financial Officer.

Thank you. You may begin.

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Unidentified_2 [2]
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Good afternoon, and thank you all for joining us today for our second quarter 2026 earnings call. I'm

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