BigBear.ai reports first quarter 2026 results with backlog up 14%
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BigBear.ai Announces First Quarter 2026 Results, Increases Backlog Including More Than $60 million in National Security Contracts, and Affirms Revenue Guidance
May 5, 2026 4:15 PM EDT1Q 26 revenue of $34.4 million; gross margins expanded 1,278 basis points from 21.3% to 34.0% year-over-year Backlog increased 14% from the fourth quarter to $281.9 million, primarily driven by a sole-source prime classified award in the first quarter for $53 million. Settled the remaining $124.6 million of 2029 Convertible notes, primarily through the Companys exercise of debt-to-equity conversion features in January 2026; interest expense reduced by $4.8 million in 1Q 26 vs. 1Q 25 Total available cash and investments of $431.5 million as of March 31, 2026 Launched a retail shareholder voting program to broaden participation in the Company's annual meeting... More
