BigBear.ai reports a drop in revenue to $128 million and a net loss of $294 million for 2025 amid market challenges.
BigBear.ai (BBAI) reported a revenue decline to $128 million in 2025 from $146 million in 2021, alongside a widening net loss from $124 million to $294 million. The company attributed the downturn to the bankruptcy of its top customer, Virgin Orbit, competitive pressures, and broader macroeconomic headwinds.
Despite acquiring AI vision firm Pangiam in 2024 and securing new government contracts, BigBear.ai’s sales continued to slump. Analysts project a 12% CAGR revenue growth to $159 million by 2027, though challenges persist in a rapidly expanding AI market.
The company focuses on AI modules for edge networks, primarily serving government and defense sectors, but has struggled to capitalize on the broader AI boom.