BigBearai Holdings ( (BBAI) ) has shared an announcement.
BigBear.ai’s third quarter of 2024 showed promising financial strides, with a 22.1% revenue increase to $41.5 million and an improved gross margin of 25.9%, despite a net loss of $12.2 million. The company secured significant contracts, including a $165 million deal with the U.S. Army, and showcased its AI technologies at various defense events. With a robust cash balance of $65.6 million and ongoing strategic initiatives, BigBear.ai is navigating challenges in the AI sector while affirming its full-year revenue guidance.
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