Shares of BigBear.ai (NYSE:BBAI) lost over 8% in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2022. Earnings per share came in at -$0.23, which missed analysts’ consensus estimate of -$0.08 per share. Sales increased by 20.7% year-over-year, with revenue hitting $40.4 million. This beat analysts’ expectations of $39.96 million.
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BigBear.ai reported a net loss of $29.9 million this quarter, thanks mainly to a “goodwill impairment charge” in its analytics segment that cost $18.3 million by itself. Regardless, that’s still a much smaller loss than BigBear.ai posted back in 2021’s fourth quarter: $114.8 million.
Looking forward, management now expects revenue for Q1 2023 to be in the range of $155 million to $170 million. For reference, analysts were expecting $173.03 million in revenue.
BBAI investors can’t seem to catch a break recently. Not only is the stock down in after-hours trading, but it was already down over 22% over the past five days.
