Core Insights - Bridger Aerospace Group Holdings, Inc. (BAER) shares have increased by 28.1% since the earnings report for Q1 2025, outperforming the S&P 500 Index's 4.6% gain during the same period [1] - The company reported record revenue of $15.6 million for Q1 2025, a 184.1% increase from $5.5 million in Q1 2024, driven by early wildfire deployments and contributions from the acquisition of Flight Test & Mechanical Solutions (FMS) [2] - The net loss improved to $15.5 million ($0.41 per diluted share) from $20.1 million ($0.55 per share) in the prior year, with adjusted EBITDA narrowing to negative $5.1 million from negative $6.9 million [3] Earnings Snapshot and Segmental Overview - Revenue growth was significantly influenced by $1.9 million from FMS and $5.9 million from one-time return-to-service work on Spanish Super Scoopers, with core revenues increasing to $9.7 million from $4.5 million [2][7] - Cost of revenues rose by 86.9% to $17.2 million, including $5.6 million in expenses related to Spanish Scoopers [3] - Operating loss narrowed to $10.2 million from $15.3 million, while SG&A expenses decreased by 26% to $8.6 million due to lower non-cash stock-based compensation [3] Cash Position - Cash and cash equivalents at the end of the quarter were $22.3 million, up from $6.8 million a year ago but down from $39.3 million at year-end 2024 due to seasonal expenses [4] Management Commentary - CEO Sam Davis highlighted the company's proactive response to year-round wildfire activity, emphasizing record early deployments as key to performance [5] - CFO Eric Gerratt noted historical net losses in the first and fourth quarters due to seasonality but expressed confidence in improving full-year metrics [6] Guidance - The company reaffirmed its 2025 guidance of adjusted EBITDA between $42 million and $48 million, with projected revenue between $105 million and $111 million, excluding potential upside from Spanish Scoopers in Europe [9] - Most adjusted EBITDA is expected to be generated in the third quarter, coinciding with the peak wildfire season [10] Strategic Developments - Bridger Aerospace secured a five-year, $20.1 million IDIQ contract with the U.S. Department of the Interior for surveillance aircraft in Alaska and won a wildfire mapping contract in Montana [11] - The acquisition of FMS enhanced engineering capabilities and contributed to competitive bids and margin expansion [11] - The company is progressing with the return to service of four Spanish Scoopers for European deployment in 2025 and signed a memorandum of understanding with Positive Aviation for potential acquisition of up to 20 FF72 aircraft [12]

Part I - Financial Information [Item 1. Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited).) Unaudited Q1 2025 financials show revenue growth to $15.6 million, reduced net loss to $15.5 million, and decreased total assets to $275.6 million [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2025, total assets decreased to $275.6 million, while the stockholders' deficit widened to $347.4 million Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $22,349 | $39,336 | | Total current assets | $46,387 | $63,809 | | Property, plant and equipment, net | $184,546 | $183,769 | | Total assets | $275,602 | $290,809 | | **Liabilities & Stockholders' Deficit** | | | | Total current liabilities | $21,197 | $23,392 | | Long-term debt, net | $201,857 | $202,469 | | Total liabilities | $236,230 | $237,332 | | Total stockholders' deficit | $(347,368) | $(326,702) | | Total liabilities, mezzanine equity, and stockholders' deficit | $275,602 | $290,809 | [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q1 2025 revenues surged to $15.6 million (**184%** increase), with net loss improving to $15.5 million from $20.1 million Statement of Operations Summary (in thousands, except per share data) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Revenues | $15,646 | $5,507 | | Gross loss | $(1,561) | $(3,699) | | Operating loss | $(10,151) | $(15,309) | | Net loss | $(15,538) | $(20,087) | | Loss per share - basic and diluted | $(0.41) | $(0.55) | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities improved to $17.7 million, with total cash decreasing by $21.5 million in Q1 2025 Cash Flow Summary (in thousands) | Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(17,656) | $(22,762) | | Net cash (used in) provided by investing activities | $(2,643) | $2,786 | | Net cash used in financing activities | $(1,159) | $(896) | | **Net change in cash, cash equivalents and restricted cash** | **$(21,490)** | **$(20,872)** | [Notes to Condensed Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail accounting policies, high customer concentration, significant debt, and a $15.0 million aircraft acquisition contingency - The company provides aerial wildfire surveillance and suppression services, owning a fleet of **twelve aircraft** as of March 31, 2025, including **six Super Scoopers**[25](index=25&type=chunk)[26](index=26&type=chunk) - **Significant customer concentration** exists, with two customers accounting for **48%** and **38%** of total revenues for the three months ended March 31, 2025[58](index=58&type=chunk) - The company is **in compliance** with all financial covenants related to its various debt agreements as of March 31, 2025[117](index=117&type=chunk)[119](index=119&type=chunk)[120](index=120&type=chunk) - A contingency exists where the company may have to pay up to **$15.0 million** if it does not purchase the four 'Spanish Scoopers' under an agreement with MAB[124](index=124&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=38&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) Management discusses Q1 2025 revenue growth, improved profitability, and ongoing remediation of internal control weaknesses Q1 2025 vs Q1 2024 Results of Operations (in thousands) | Metric | Q1 2025 | Q1 2024 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Revenues | $15,646 | $5,507 | $10,139 | 184% | | Gross loss | $(1,561) | $(3,699) | $2,138 | (58%) | | Operating loss | $(10,151) | $(15,309) | $5,158 | (34%) | | Net loss | $(15,538) | $(20,087) | $4,549 | (23%) | Q1 2025 Revenue by Service (in thousands) | Service | Q1 2025 | Q1 2024 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | MRO | $7,890 | $428 | $7,462 | 1,743% | | Fire suppression | $5,783 | $3,881 | $1,902 | 49% | | Aerial surveillance | $1,711 | $583 | $1,128 | 193% | | Other services | $262 | $615 | $(353) | (57)% | - The increase in MRO revenue is primarily due to the FMS acquisition in June 2024 and return-to-service work on the Spanish Scoopers. The increase in fire suppression revenue was driven by more flight hours from an earlier start to the 2025 wildfire season[185](index=185&type=chunk)[186](index=186&type=chunk) Adjusted EBITDA Reconciliation (in thousands) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net loss | $(15,538) | $(20,087) | | EBITDA | $(7,572) | $(12,860) | | **Adjusted EBITDA** | **$(5,077)** | **$(6,928)** | [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=53&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk.) As a smaller reporting company, the company is **not required** to provide market risk disclosures - As a smaller reporting company, Bridger is **not required** to provide the information otherwise required under this item[226](index=226&type=chunk)[257](index=257&type=chunk) [Item 4. Controls and Procedures](index=54&type=section&id=Item%204.%20Controls%20and%20Procedures.) Disclosure controls were **not effective** due to material weaknesses in complex transaction accounting and IT access, with remediation underway - Disclosure controls and procedures were concluded to be **not effective** as of March 31, 2025[258](index=258&type=chunk) - Two material weaknesses were identified: one related to accounting for complex transactions within the financial statement closing process, and another related to maintaining and monitoring user access to certain IT systems[260](index=260&type=chunk) - A remediation plan is in progress, including hiring new personnel, improving review processes, and strengthening IT access controls[261](index=261&type=chunk)[264](index=264&type=chunk) Part II - Other Information [Item 1. Legal Proceedings](index=55&type=section&id=Item%201.%20Legal%20Proceedings.) The company reports **no material pending legal proceedings** beyond routine business litigation - There are **no material pending legal proceedings** to which the Company is a party[266](index=266&type=chunk) [Item 1A. Risk Factors](index=55&type=section&id=Item%201A.%20Risk%20Factors.) **No material changes** occurred to the risk factors previously disclosed in the 2024 Form 10-K - **No material changes** have occurred during the three months ended March 31, 2025, to the risk factors disclosed in the Form 10-K for the year ended December 31, 2024[267](index=267&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=55&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds.) The company reported **no unregistered sales** of equity securities or use of proceeds during the period - **None**[269](index=269&type=chunk) [Item 5. Other Information](index=55&type=section&id=Item%205.%20Other%20Information.) **No directors or executive officers adopted or terminated** Rule 10b5-1 or non-Rule 10b5-1 trading arrangements - During the three months ended March 31, 2025, **none of the Company's directors or executive officers adopted or terminated** a 'Rule 10b5-1 trading arrangement' or 'non-Rule 10b5-1 trading arrangement'[272](index=272&type=chunk) [Item 6. Exhibits](index=56&type=section&id=Item%206.%20Exhibits.) This section lists exhibits filed with the Form 10-Q, including corporate governance documents and certifications

Financial Data and Key Metrics Changes - The company reported record first quarter revenue of $15,600,000, an increase of 184% compared to $5,500,000 in the same quarter last year [6][17] - Adjusted EBITDA was negative $5,100,000 for the first quarter of 2025, an improvement from negative $6,900,000 in the first quarter of 2024 [19] - The net loss for the first quarter of 2025 was $15,500,000 or $0.41 per diluted share, compared to a net loss of $20,100,000 or $0.55 per diluted share in the first quarter of 2024 [19] - Total cash and cash equivalents at the end of the first quarter of 2025 were $22,300,000, up from $6,800,000 at the end of the first quarter of 2024 [20] Business Line Data and Key Metrics Changes - Revenue from ongoing operations, including FMS, more than doubled to approximately $9,700,000 compared to approximately $4,500,000 in the first quarter of 2024 [18] - The company added two exclusive use contracts, including a five-year $20.1 million contract with the U.S. Department of the Interior [9][10] Market Data and Key Metrics Changes - Wildfire activity in 2025 has been above average, with nearly 22,000 fires and close to 1,000,000 acres burned to date [6][7] - The company anticipates above-normal temperatures and dryer conditions across much of the U.S. through August, which may drive increased demand for firefighting services [7] Company Strategy and Development Direction - The company is focusing on year-round readiness and has deployed its MMA fleet for enhanced wildfire response effectiveness [5] - There is a strategic emphasis on securing exclusive use contracts to increase revenue stability and reduce volatility [9][25] - The company is exploring opportunities in Europe, specifically with Turkey and Portugal, to expand its firefighting assets [33][34] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about beneficial changes at the federal and state levels that could enhance wildfire response capabilities [8][9] - The company expects to generate another year of positive cash from operating activities in 2025, with a projected revenue growth of 20% in adjusted EBITDA [22][24] - The management highlighted the importance of maximizing exclusive use commitments to ensure fleet dedication to wildfire response efforts [25] Other Important Information - The company is actively working on integrating advanced sensor systems with its Ignis Technologies platform to enhance operational effectiveness [13] - The partnership with MAB Funding LLC for the Spanish Scoopers is progressing, with plans to deploy them in Europe for the 2025 wildfire season [14][15] - The company announced a memorandum of understanding with Positive Aviation to become the exclusive North American launch customer for the FF72 aircraft [15][16] Q&A Session Summary Question: Regarding the President's budget request and DHS funding - Management confirmed that the PC-12s are currently on contract with high utilization and are looking at new contract opportunities as the budget progresses [29][30] Question: About negotiations with European countries - Management indicated ongoing discussions with Turkey and Portugal, with interest in expanding contracts for firefighting aircraft [33][34]

Financial Data and Key Metrics Changes - The company reported record first quarter revenue of $15,600,000, an increase of 184% compared to $5,500,000 in the same quarter last year [6][19] - Adjusted EBITDA was negative $5,100,000 for Q1 2025, an improvement from negative $6,900,000 in Q1 2024 [21] - The net loss for Q1 2025 was $15,500,000 or $0.41 per diluted share, compared to a net loss of $20,100,000 or $0.55 per diluted share in Q1 2024 [21] Business Line Data and Key Metrics Changes - Revenue from ongoing operations, including FMS, more than doubled to approximately $9,700,000 compared to approximately $4,500,000 in Q1 2024 [20] - The company signed a five-year $20.1 million IDIQ contract with the U.S. Department of the Interior for two air attack and surveillance aircraft [10] - The exclusive use agreement for wildfire detection and mapping in Montana has a minimum annual value of $648,000 [12] Market Data and Key Metrics Changes - Wildfire activity in 2025 has been above average, with nearly 22,000 fires and close to 1,000,000 acres burned to date [7] - The company anticipates above-normal temperatures and dryer conditions across much of the U.S. through August, which may increase demand for firefighting services [7][8] Company Strategy and Development Direction - The company is focusing on maximizing exclusive use contracts to ensure its fleet is dedicated to wildfire response efforts [26] - Bridger is actively pursuing opportunities with states to provide exclusive use of firefighting assets, indicating a strategic shift towards year-round readiness [10] - The company entered a memorandum of understanding to become the exclusive North American launch customer for the FF72 aircraft, enhancing its fleet capabilities [16][18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about beneficial changes at the federal and state levels that will improve wildfire response efficiency [8][10] - The company expects to generate another year of positive cash from operating activities in 2025, with a projected revenue of $105,000,000 to $111,000,000 [23][25] - The solid start to 2025 has increased confidence in the company's guidance, projecting 20% growth in adjusted EBITDA [23] Other Important Information - The company ended Q1 2025 with total cash and cash equivalents of $22,300,000, up from $6,800,000 at the end of Q1 2024 [22] - The acquisition of FMS contributed $1,900,000 in revenue during the first quarter [13] Q&A Session Summary Question: Regarding DHS and Border Patrol funding - Management confirmed that the PC-12s are currently on contract with high utilization and are looking at new contract opportunities as the budget progresses [30][31] Question: About European contracts - Management indicated ongoing discussions with Turkey and Portugal, as well as other European countries, for potential contracts [34][36]

[Financial & Operational Highlights](index=1&type=section&id=Financial%20%26%20Operational%20Highlights) Bridger Aerospace achieved record Q1 2025 revenue of **$15.6 million**, improved profitability, and reaffirmed full-year guidance Key Financial Highlights | Metric (in thousands) | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | **Revenues** | $ 15,646 | $ 5,507 | | **Operating loss** | $ (10,151) | $ (15,309) | | **Net loss** | $ (15,538) | $ (20,087) | | **Adjusted EBITDA** | $ (5,077) | $ (6,928) | - The company achieved its **earliest Super Scooper deployment** in history, sending aircraft to California in January, followed by Oklahoma and North Carolina in March, reinforcing the trend of year-round wildfire activity[3](index=3&type=chunk)[4](index=4&type=chunk) - Secured a new exclusive-use contract with the State of Montana for wildfire detection and a five-year, **$20.1 million** contract with the U.S. Department of the Interior to support Alaska[4](index=4&type=chunk) - The company is on track to meet its 2025 guidance, with projected revenue of **$105 million to $111 million** and Adjusted EBITDA of **$42 million to $48 million**[4](index=4&type=chunk)[10](index=10&type=chunk) [Detailed Financial Performance](index=1&type=section&id=Detailed%20Financial%20Performance) Q1 2025 saw strong revenue growth from deployments and acquisitions, with reduced SG&A expenses narrowing operating and net losses [Revenue](index=1&type=section&id=Revenue) Q1 2025 revenue surged to **$15.6 million**, primarily driven by Spanish Super Scooper work, increased deployments, and the FMS acquisition Revenue Breakdown | Revenue Component | Q1 2025 (in millions) | Q1 2024 (in millions) | | :--- | :--- | :--- | | **Total Revenue** | **$15.6** | **$5.5** | | Revenue from Spanish Super Scoopers | $5.9 | $1.0 | | Revenue from FMS Acquisition | $1.9 | - | | Core & Other Revenue | $7.8 | $4.5 | [Costs and Expenses](index=2&type=section&id=Costs%20and%20Expenses) Cost of revenues increased to **$17.2 million** due to Spanish Super Scooper work, while SG&A expenses decreased to **$8.6 million** - Cost of revenues rose to **$17.2 million** in Q1 2025, up from **$9.2 million** in Q1 2024, with a significant portion of the increase attributed to return-to-service work for Spanish Super Scoopers[6](index=6&type=chunk) - SG&A expenses fell to **$8.6 million** in Q1 2025 from **$11.6 million** in Q1 2024, primarily due to reduced non-cash stock-based compensation expense[7](index=7&type=chunk) - Interest expense remained relatively stable at **$5.7 million** for Q1 2025 compared to **$5.9 million** in the prior-year quarter[7](index=7&type=chunk) [Profitability](index=2&type=section&id=Profitability) Q1 2025 profitability improved, with net loss narrowing to **$15.5 million** and Adjusted EBITDA improving to negative **$5.1 million** Profitability Overview | Profitability Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | **Net Loss** | $(15.5) million | $(20.1) million | | **Loss per Diluted Share** | $(0.41) | $(0.55) | | **Adjusted EBITDA** | $(5.1) million | $(6.9) million | [Financial Position and Cash Flow](index=2&type=section&id=Financial%20Position%20and%20Cash%20Flow) Bridger Aerospace held **$22.3 million** in cash as of March 31, 2025, with improved operating cash flow despite seasonal winter expenses - Cash and cash equivalents stood at **$22.3 million** at the end of Q1 2025, down from **$39.3 million** at December 31, 2024, due to expenses for winter maintenance and training activities[9](index=9&type=chunk)[19](index=19&type=chunk) Cash Flow Summary | Cash Flow Activity (in thousands) | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | **Net cash used in operating activities** | $ (17,656) | $ (22,762) | | **Net cash (used in) provided by investing activities** | $ (2,643) | $ 2,786 | | **Net cash used in financing activities** | $ (1,159) | $ (896) | [Business Outlook](index=2&type=section&id=Business%20Outlook) Bridger Aerospace reiterated its full-year 2025 guidance, confident in continued operational improvements and stabilizing revenue streams 2025 Full Year Guidance | 2025 Full Year Guidance | Range (in millions) | | :--- | :--- | | **Revenue** | $105 - $111 | | **Adjusted EBITDA** | $42 - $48 | - Confidence in guidance is supported by the **early deployment of Super Scoopers**, the 2024 acquisition of FMS, and state contracts that provide standby revenue, helping to stabilize quarterly results[10](index=10&type=chunk) - The company expects **continued improvement in cash provided by operating activities** in 2025[10](index=10&type=chunk) [Appendix: Financial Statements and Non-GAAP Reconciliation](index=3&type=section&id=Appendix%3A%20Financial%20Statements%20and%20Non-GAAP%20Reconciliation) This appendix provides unaudited consolidated financial statements for Q1 2025, including operations, balance sheets, cash flows, and non-GAAP reconciliations [Consolidated Statements of Operations](index=3&type=section&id=Consolidated%20Statements%20of%20Operations) Presents the unaudited consolidated statements of operations for Q1 2025 and Q1 2024 Consolidated Statements of Operations | (in thousands, except per share) | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | **Revenues** | $ 15,646 | $ 5,507 | | **Gross loss** | $ (1,561) | $ (3,699) | | **Operating loss** | $ (10,151) | $ (15,309) | | **Net loss** | $ (15,538) | $ (20,087) | | **Loss per share - diluted** | $ (0.41) | $ (0.55) | [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) Presents the unaudited consolidated balance sheets as of March 31, 2025 and December 31, 2024 Consolidated Balance Sheets | (in thousands) | As of March 31, 2025 | As of December 31, 2024 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $ 22,349 | $ 39,336 | | **Total current assets** | $ 46,387 | $ 63,809 | | **Total assets** | $ 275,602 | $ 290,809 | | **Total current liabilities** | $ 21,197 | $ 23,392 | | **Total liabilities** | $ 236,230 | $ 237,332 | | **Total stockholders' deficit** | $ (347,368) | $ (326,702) | [Consolidated Statements of Cash Flows](index=5&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Presents the unaudited consolidated statements of cash flows for Q1 2025 and Q1 2024 Consolidated Statements of Cash Flows | (in thousands) | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | **Net cash used in operating activities** | $ (17,656) | $ (22,762) | | **Net cash (used in) provided by investing activities** | $ (2,643) | $ 2,786 | | **Net cash used in financing activities** | $ (1,159) | $ (896) | | **Net change in cash, cash equivalents and restricted cash** | $ (21,490) | $ (20,872) | [Non-GAAP Reconciliation](index=6&type=section&id=Non-GAAP%20Reconciliation) Provides a reconciliation of non-GAAP measures, including EBITDA and Adjusted EBITDA, to the GAAP net loss Non-GAAP Reconciliation to Adjusted EBITDA | Reconciliation to Adjusted EBITDA (in thousands) | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | **Net loss** | **$ (15,538)** | **$ (20,087)** | | Income tax expense | 251 | 14 | | Depreciation and amortization | 1,980 | 1,290 | | Interest expense | 5,735 | 5,923 | | **EBITDA** | **$ (7,572)** | **$ (12,860)** | | Stock-based compensation | 1,991 | 5,871 | | Other adjustments | 504 | 62 | | **Adjusted EBITDA** | **$ (5,077)** | **$ (6,928)** |

Core Insights - Bridger Aerospace Group Holdings, Inc. reported record financial results for Q1 2025, with significant revenue growth driven by increased aerial firefighting operations [1][5]. Financial Performance - Revenues for Q1 2025 reached $15.6 million, a substantial increase from $5.5 million in Q1 2024, marking a growth of approximately 184% [4][9]. - The operating loss improved to $10.2 million in Q1 2025 from $15.3 million in Q1 2024 [3][9]. - Net loss for Q1 2025 was $15.5 million, or $0.41 per diluted share, compared to a net loss of $20.1 million, or $0.55 per diluted share, in Q1 2024 [9][18]. - Adjusted EBITDA was negative $5.1 million in Q1 2025, an improvement from negative $6.9 million in Q1 2024 [5][9]. Operational Highlights - The company deployed Super Scoopers earlier than ever in January 2025, with operations in California, Oklahoma, and North Carolina, reflecting a trend of year-round wildfire activity [5][11]. - Bridger secured a new five-year contract worth $20.1 million with the U.S. Department of the Interior to support operations in Alaska [5]. - The company has nearly all of its air attack and sensor-equipped fleet operational for 2025, enhancing its readiness for wildfire suppression [3][5]. Cash Flow and Liquidity - Cash and cash equivalents at the end of Q1 2025 were $22.3 million, a decrease from $39.3 million at the end of 2024, primarily due to winter maintenance and training expenses [10][20]. - Net cash used in operating activities was $17.7 million in Q1 2025, compared to $22.8 million in Q1 2024, indicating improved cash flow management [3][24]. Business Outlook - The company is on track to meet its 2025 guidance of Adjusted EBITDA between $42 million and $48 million on revenues of $105 million to $111 million [5][11]. - The ongoing trend of extended wildfire seasons and new contracts are expected to stabilize revenues and enhance operational performance [11].

Core Viewpoint - Bridger Aerospace Group Holdings, Inc. will release its financial results for Q1 2025 on May 8, 2025, after market close [1] Group 1: Financial Results Announcement - The financial results for the first quarter ended March 31, 2025, will be announced on May 8, 2025 [1] - An investor conference call is scheduled for May 8 at 5:00 p.m. Eastern Time to discuss the results and business outlook [2] - The conference call can be accessed via phone or through a live broadcast on the company's Investor Relations website [2] Group 2: Audio Replay Information - An audio replay of the conference call will be available until May 15, 2025 [3] - The replay can be accessed by phone using a specific passcode or through the Investor Relations website [3] Group 3: Company Overview - Bridger Aerospace is one of the largest aerial firefighting companies in the U.S., based in Belgrade, Montana [4] - The company provides aerial firefighting and wildfire management services to federal and state agencies, including the U.S. Forest Service [4]

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]