BigBear.ai Holdings, Inc. (BBAI) stock plummeted 5.54% in the intraday trading session on Tuesday, despite securing new government contracts for its AI-powered decision-intelligence solutions.
The company's shares initially rallied on news of securing a contract with the Department of Defense for its Virtual Anticipation Network (VANE) and another contract with the Navy last month. However, concerns over BigBear.ai's ability to sustain consistent revenue growth and profitability weighed on investor sentiment.
While BigBear.ai has seen rapid share price gains, its financials remain weak. The company reported flat revenues for the first nine months of 2024 compared to the same period a year ago, and it has been posting operating losses in the past three quarters. Analysts also raised concerns about BigBear.ai's history of boom-and-bust cycles, where rapid growth is often followed by profit-taking and subsequent price declines.
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