BigBear.ai Dips on Results as CEO Says Governments Are Cautious on AI

seekingalpha

2024-11-06

BigBear.ai (NYSE:BBAI) dipped 9% in pre-market trading after it produced mixed third quarter 2024 financial results.

It had closed the trading day up 9.3%.

For the third quarter, BigBear.ai reported a loss per share of $0.05 versus the consensus estimate of a $0.07 loss per share. The Maryland-based company reported revenue of $41.5M, which represented a year-over-year increase of 22%, but still less than the estimate of $45.04M.

BigBear.ai, which provides artificial intelligence and analytics solutions for enterprises and the national defense, expects full-year 2024 revenue to range from $165M to $180M. The projection includes the acquisition of Pangiam, a government contractor that uses AI to provide security.

"The headwinds we face as a business are unchanged: the cautious approach of governments and regulators towards artificial intelligence means our business will remain lumpy, and we understand these challenges and are navigating them thoughtfully," said CEO Mandy Long.

BigBear.ai also reported an ending backlog of $437M as of September 30.

For the quarter progress, BigBear.ai begins a five-year contract for the U.S. Army valued at $165M. It also entered into a shared contract with the Federal Aviation Administration. The company installed a biometric boarding solution at Denver International Airport as well.

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The Maryland-based company reported revenue of $41.5M, which represented a year-over-year increase of 22%, but still less than the estimate of $45.04M.</p><p>BigBear.ai, which provides artificial intelligence and analytics solutions for enterprises and the national defense, expects full-year 2024 revenue to range from $165M to $180M. The projection includes the acquisition of Pangiam, a government contractor that uses AI to provide security.</p><p>&#34;The headwinds we face as a business are unchanged: the cautious approach of governments and regulators towards artificial intelligence means our business will remain lumpy, and we understand these challenges and are navigating them thoughtfully,&#34; said CEO Mandy Long.</p><p>BigBear.ai also reported an ending backlog of $437M as of September 30.</p><p>For the quarter progress, BigBear.ai begins a five-year contract for the U.S. Army valued at $165M. It also entered into a shared contract with the Federal Aviation Administration. The company installed a biometric boarding solution at Denver International Airport as well.</p></body></html>\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"https://seekingalpha.com/news/4251291-bigbearai-produces-mixed-q3-results-on-ai-caution\">seekingalpha</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4587","symbol_name":"ChatGPT概念","start_time":0,"source_url":"https://seekingalpha.com/news/4251291-bigbearai-produces-mixed-q3-results-on-ai-caution","article_id":"2481665877","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481665877","pubTimestamp":1730894408,"columns":[],"sourceInfo":{"source_id":"seekingalpha_trending_news","name":"Seeking Alpha Trending News"},"weMediaInfo":null,"summary":"Liudmila Chernetska/iStock via Getty Images BigBear.ai (NYSE:BBAI) dipped 7% during early post-market trading after it produced mixed third quarter 2024 financial results. It had closed the trading da","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4587":"ChatGPT概念","BK4134":"信息科技咨询与其它服务","BBAI":"BigBear.ai Holdings"},"translate_title":"BigBear.ai首席执行官表示政府对人工智能持谨慎态度，业绩下滑","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BBAI":0.9},"content_text":"BigBear.ai (NYSE:BBAI) dipped 9% in pre-market trading after it produced mixed third quarter 2024 financial results.It had closed the trading day up 9.3%.For the third quarter, BigBear.ai reported a loss per share of $0.05 versus the consensus estimate of a $0.07 loss per share. The Maryland-based company reported revenue of $41.5M, which represented a year-over-year increase of 22%, but still less than the estimate of $45.04M.BigBear.ai, which provides artificial intelligence and analytics solutions for enterprises and the national defense, expects full-year 2024 revenue to range from $165M to $180M. 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