RESTON, Va., April 16, 2025 (GLOBE NEWSWIRE) -- NextNav Inc. (NASDAQ:NN), a leader in next-generation position, navigation and timing (PNT) and 3D geolocation, today announced that its board of directors has elected Rear Admiral H. Wyman Howard and Rear Admiral Lorin Selby to serve as board members, effective May 1, 2025. "We are honored to welcome Rear Admiral Howard and Rear Admiral Selby to the NextNav Board of Directors," said Mariam Sorond, NextNav's Chief Executive Officer and Board Chair. "Their exte ...

Core Insights - Bridger Aerospace Group Holdings, Inc. has appointed Meghan Pasricha as an independent director, bringing the Board size back to 9 members [1][2]. Company Overview - Bridger Aerospace is one of the largest aerial firefighting companies in the United States, providing services to federal and state government agencies, including the United States Forest Service [3]. Leadership and Expertise - Meghan Pasricha has extensive experience in credit and capital solutions, which will support Bridger's growth plans and capital structure optimization [2]. - Pasricha is currently a Partner at Galvanize Climate Solutions, focusing on decarbonization investment strategies, and has held significant roles at Riverstone Holdings and The Carlyle Group [2]. - She co-founded Women in Climate Investing & Finance and leads a nonprofit focused on youth leadership and community service [2].

Core Insights - Bridger Aerospace Group Holdings, Inc. has been awarded an exclusive-use contract by the State of Montana for wildfire detection and mapping using a modified Daher Kodiak 100 aircraft, with a minimum annual value of $648,000 for at least 120 days of availability [1][2] Group 1: Contract Details - The exclusive-use agreement has an initial term of one year, with two optional extension years subject to continued state funding [1] - The contract includes provisions for additional days and flight hours beyond the minimum annual value [1] Group 2: Operational Impact - Nearly all of Bridger's air attack and sensor-equipped fleet is now committed or operational for the 2025 fire season, enhancing the company's capacity to support firefighting operations [2] - The modification of the Kodiak aircraft integrates advanced sensor systems and operator workstations, enabling rapid identification of wildfire hotspots and precise fire perimeter mapping [2] Group 3: Company Background - Bridger Aerospace is one of the largest aerial firefighting companies in the United States, providing services to federal and state agencies, including the United States Forest Service [3]

Core Points - Bridger Aerospace has entered into a Memorandum of Understanding with Positive Aviation to become the exclusive North American launch customer for the FF72 firefighting aircraft [1][2] - The partnership aims to enhance Bridger's fleet capabilities and solidify its leadership in the aerial firefighting industry [3][4] Group 1: Partnership Details - Bridger will handle sales, marketing, support, modifications, certification, and training for the FF72 aircraft in North America [2] - The MOU allows Bridger to purchase ten FF72 aircraft with an option for an additional ten units [2] - Deliveries of the FF72 are expected to begin in time for the 2029 fire year [2] Group 2: Strategic Importance - The FF72 will complement Bridger's existing fleet of CL-415 EAF Super Scoopers, integrating new technology for improved wildfire response [3] - The partnership is positioned to meet the growing demand for cost-effective wildfire fighting solutions both in the U.S. and globally [4] - Bridger aims to address the increasing year-round challenges of wildfires with the addition of the FF72 to its fleet [4]

Core Insights - Bridger Aerospace has deployed aircraft to support wildfire efforts in Oklahoma and New Mexico, enhancing regional firefighting capabilities [1][2] - The company has sent two CL-415EAF "Super Scooper" aircraft and a Multi-Mission Aircraft (MMA) to assist ground crews and protect communities [1][2] - Bridger Aerospace is committed to supporting wildfire management agencies across the US, providing critical resources for effective response [2] Company Overview - Bridger Aerospace Group Holdings, Inc. is one of the largest aerial firefighting companies in the US, based in Belgrade, Montana [3] - The company provides aerial firefighting and wildfire management services to federal and state government agencies, including the United States Forest Service [3] - Bridger Aerospace operates both domestically and internationally, showcasing its extensive capabilities in wildfire management [3]

Shares of Bridger Aerospace Group Holdings, Inc. (BAER) have lost 8.9% since the company reported its earnings for the quarter ended Dec. 31, 2024. This compares to the S&P 500 Index’s 1.2% gain over the same time frame. Over the past month, the stock lost 25.1% compared with the S&P 500’s 7.9% decline.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Earnings Performance and Financial MetricsBridger Aerospace reported fourth-quarter 2024 revenues of $15.6 million, marking a substantial ...

Group 1 - Bridger Aerospace Group Holdings, Inc. appointed Sam Davis as President and CEO effective March 17, 2025, following the resignation of former CEO Timothy P. Sheehy [1] - Sam Davis has been with Bridger since 2019, previously serving as Controller and Chief of Staff, and has played a key role in the company's transition to a public entity and its expansion efforts [2] - Under Davis's leadership, Bridger has achieved significant milestones, including strong top-line growth, a substantial increase in Adjusted EBITDA, and positive cash flow for the year [2] Group 2 - Davis expressed gratitude for the Board's confidence and emphasized Bridger's readiness to address year-round wildfire threats, highlighting recent operations in Los Angeles and Oklahoma [3] - Bridger Aerospace is one of the largest aerial firefighting companies in the U.S., providing services to federal and state agencies, including the U.S. Forest Service [4]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________ FORM 10-K ______________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-41603 ______________________ BRIDGER AEROSPACE GROUP HOLDINGS, INC. ...

Bridger Aerospace Group (BAER) Q4 2024 Earnings Call March 13, 2025 10:43 PM ET Company Participants Eric Gerratt - Chief Financial OfficerSam Davis - President & Interim CEOJohn Founders - Senior Vice President of Finance & Capital Markets Operator Greetings, everyone. Welcome to Bridger Aerospace Fourth Quarter and Fiscal twenty twenty four Investor Conference Call. As a reminder, today's call is being recorded. It is now my pleasure to introduce your host, Mr. Eric Jarrett, Chief Financial Officer. Thank ...

Revenue Growth - Record revenue of $98.6 million for the year 2024, a 48% increase from $66.7 million in 2023, with fourth quarter revenue of $15.6 million compared to $1.1 million in Q4 2023[6][12][7] - Revenues for the year ended December 31, 2024, increased to $98,613 million, up from $66,708 million in 2023, representing a growth of 47.8%[22] Net Loss Improvement - Net loss improved by 80% to $15.6 million in 2024 from a net loss of $77.4 million in 2023, with a fourth quarter net loss of $12.8 million compared to $31.1 million in Q4 2023[14][10] - Net loss for the year ended December 31, 2024, was $15,567 million, a decrease from a net loss of $77,358 million in 2023, indicating an improvement of 79.9%[22] - For the three months ended December 31, 2024, the net loss was $12,845 thousand, compared to a net loss of $31,139 thousand for the same period in 2023, indicating a significant improvement[38] Adjusted EBITDA - Adjusted EBITDA doubled to $37.3 million in 2024 from $18.7 million in 2023, with a fourth quarter Adjusted EBITDA of negative $2.9 million compared to negative $10.4 million in Q4 2023[14][10] - The adjusted EBITDA for the year ended December 31, 2024, was $37,336 thousand, a substantial increase from $18,672 thousand in 2023[38] - Adjusted EBITDA for 2025 is projected to range from $42 million to $48 million, indicating a growth of 20% at the midpoint compared to 2024[6][15] Cash Flow and Assets - Cash provided by operating activities was $9.4 million in 2024, with cash and cash equivalents at year-end totaling $39.3 million, up from $22.9 million in 2023[11][6] - Cash and cash equivalents at the end of the period increased to $39,336 million from $22,956 million, representing a growth of 71.1%[29] - Total current assets as of December 31, 2024, rose to $63,809 million, compared to $45,195 million as of December 31, 2023, marking an increase of 41.2%[25] Expenses and Cost Management - Cost of revenues for 2024 was $57.5 million, up from $41.3 million in 2023, with fourth quarter costs at $15.4 million compared to $8.4 million in Q4 2023[12][8] - Selling, general and administrative expenses decreased to $35.8 million in 2024 from $82.9 million in 2023, reflecting lower non-cash stock-based compensation[13] - Stock-based compensation for the three months ended December 31, 2024, was $2,442 thousand, down from $8,048 thousand in the same period of 2023[38] - Business development and integration expenses for the three months ended December 31, 2024, were $392 thousand, significantly lower than $4,133 thousand in the same period of 2023[38] Future Guidance - The company initiated 2025 guidance with expected revenue between $105 million and $111 million, representing a 9% growth at the midpoint compared to 2024[6][15] Contract and Business Development - The company secured a five-year $20.1 million contract with the U.S. Department of the Interior in January 2025 to support firefighting efforts in Alaska[6] Asset Management - Total liabilities decreased to $237,332 million as of December 31, 2024, from $246,539 million in 2023, a reduction of 3.4%[26] - The company’s total assets increased to $290,809 million as of December 31, 2024, up from $273,470 million in 2023, reflecting a growth of 6.4%[25] - The Series A Preferred Stock value increased to $380,179 million as of December 31, 2024, compared to $354,840 million in 2023, an increase of 7.1%[26] Operating Income - Operating income for the year ended December 31, 2024, was $5,318 million, a significant recovery from an operating loss of $57,495 million in 2023[22] Depreciation and Interest - Depreciation and amortization expenses for the year ended December 31, 2024, totaled $17,451 thousand, compared to $11,089 thousand in 2023, reflecting increased asset utilization[38] - Interest expense for the year ended December 31, 2024, was $23,714 thousand, slightly higher than $23,218 thousand in 2023[38] Other Financial Metrics - The company reported a basic loss per share of $0.36 for the year ended December 31, 2024, compared to a loss of $0.81 in 2023, showing an improvement of 55.6%[23] - The EBITDA for the year ended December 31, 2024, was $24,836 thousand, a significant recovery from $(43,353) thousand in 2023[38] - The loss on disposal and non-cash impairment charges for the year ended December 31, 2024, was $0 thousand, down from $2,869 thousand in 2023, indicating improved asset management[38] - The company reported a change in fair value of earnout consideration of $(872) thousand for the three months ended December 31, 2024, compared to $167 thousand in 2023[39] - The company incurred offering costs of $167 thousand for the three months ended December 31, 2024, compared to $1,843 thousand in the same period of 2023[38]