Core Insights - Bridger Aerospace Group Holdings, Inc. reported record financial results for the fourth quarter and the full year ended December 31, 2024, with significant revenue growth and improved operational metrics [1][4]. Financial Performance - Revenue for Q4 2024 reached $15.6 million, a substantial increase from $1.1 million in Q4 2023, driven by the deployment of multiple Scoopers [4][10]. - Total revenue for 2024 was $98.6 million, up 48% from $66.7 million in 2023, with contributions from return-to-service work on Spanish Super Scoopers and the acquisition of Flight Test & Mechanical Solutions, Inc. [10][12]. - The company achieved an 80% reduction in net loss, reporting $15.6 million in 2024 compared to $77.4 million in 2023 [12]. - Adjusted EBITDA doubled to $37.3 million in 2024 from $18.7 million in 2023, indicating improved profitability [12][36]. Operational Highlights - 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 [4][9]. - Selling, general and administrative expenses decreased significantly to $35.8 million in 2024 from $82.9 million in 2023, reflecting lower non-cash stock-based compensation [11][12]. - The company secured a five-year contract worth $20.1 million with the U.S. Department of the Interior in January 2025 to support firefighting efforts in Alaska [4]. Future Outlook - For 2025, the company anticipates revenue growth to between $105 million and $111 million, representing a 9% increase at the midpoint compared to 2024 [4][13]. - Adjusted EBITDA is expected to range from $42 million to $48 million, indicating a growth of 20% at the midpoint [4][13]. - The company is positioned to capitalize on year-round wildfire activity and aims to diversify its revenue streams further [4][13].

Core Viewpoint - Bridger Aerospace Group Holdings, Inc. will release its financial results for Q4 2024 on March 13, 2025, after market close [1] Group 1: Financial Results Announcement - The financial results for the fourth quarter ended December 31, 2024, will be announced on March 13, 2025 [1] - An investor conference call is scheduled for March 13 at 5:00 p.m. Eastern Time to discuss the results and business outlook [2] - Interested parties can access the conference call via phone or through the company's Investor Relations website [2] Group 2: Audio Replay Information - An audio replay of the conference call will be available until March 20, 2025 [3] - The replay can be accessed by calling specific numbers and using a designated passcode [3] Group 3: Company Overview - Bridger Aerospace is one of the largest aerial firefighting companies in the United States, 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] - Additional information about Bridger Aerospace can be found on their official website [4]

Core Viewpoint - Bridger Aerospace Group Holdings, Inc. is actively engaging with investors through participation in upcoming conferences, highlighting its position as a leading aerial firefighting company in the U.S. [1][2] Group 1: Conference Participation - Bridger Aerospace will participate in the virtual Canaccord Genuity Sustainability Forum on February 26, 2025, where management will speak at 9:30 a.m. ET during the Extreme Weather & Remote Sensing Panel [2] - The company will also attend the 37th Annual ROTH Conference in Dana Point, California, on March 17, 2025, which will include an investor presentation and one-on-one meetings [2] Group 2: Investor Engagement - Webcasts of the company's presentations will be available on the Investor section of the Bridger Aerospace website, allowing investors to access the information remotely [3] - Investors interested in participating in the conferences are encouraged to contact Bridger Aerospace Investor Relations or their respective conference representatives [3] Group 3: Company Overview - Bridger Aerospace, based in Belgrade, Montana, is one of the largest aerial firefighting companies in the U.S., providing services to federal and state government agencies, including the United States Forest Service [4]

In this articleBAERAs out-of-control wildfires threatened thousands of Los Angeles residents earlier this month, the companies that fight infernos from the air raced to send their air tankers and water bombers to the area. It was supposed to be the off-season.The California Department of Forestry and Fire Protection, or Cal Fire, has more than 60 fixed-wing and rotor-wing firefighting aircraft, which it calls the largest civil fleet of its kind.But the federal government, U.S. states and countries from Aust ...

BELGRADE, Mont., Jan. 14, 2025 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, Inc. (“Bridger or “Bridger Aerospace”), (NASDAQ: BAER, BAERW), one of the nation’s largest aerial firefighting companies, today announced that it has secured a five-year $20.1 million Indefinite Delivery Indefinite Quantity (IDIQ) contract with the U.S. Department of the Interior (DOI) for two air attack and surveillance aircraft in support of fire and resource management activities and other government work for the Bureau ...

Company Overview - Bridger Aerospace Group Holdings Inc is one of the nation's largest aerial firefighting companies, providing services to federal and state government agencies including the United States Forest Service both nationally and internationally [3] - The company is based in Belgrade, Montana [3] Contract Details - Bridger Aerospace secured a five-year $20 1 million Indefinite Delivery Indefinite Quantity (IDIQ) contract with the US Department of the Interior (DOI) for two air attack and surveillance aircraft [2] - The contract supports fire and resource management activities and other government work for the Bureau of Land Management (BLM) Alaska Fire Service [2] Industry Trends - The 120-day Exclusive Use contract exemplifies the trend of government outsourcing aerial firefighting services [1] - The company's leading-edge sensor, surveillance, and mapping capabilities position it well to support federal and state government partners in wildfire management [1] Operational Capabilities - Bridger Aerospace's air attack and surveillance fleet is well-suited for fire detection, logistical support, aerial observation, and providing information to initial attack aircraft for direct fire suppression [1] - The company's historic contract performance enhances its ability to support government partners in wildfire management [1]

BELGRADE, Mont., Jan. 13, 2025 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, Inc. (“Bridger” or “Bridger Aerospace”), (NASDAQ: BAER, BAERW), one of the nation’s largest aerial firefighting companies, today confirmed the mobilization of Bridger’s CL-415EAF “Super Scooper” aircraft to California to assist in firefighting efforts. Sam Davis, Interim Chief Executive Officer of the Company, commented, “I am proud of our team, which mobilized in record time to be prepared to assist and supplement the exis ...

BELGRADE, Mont., Jan. 08, 2025 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, Inc. (“Bridger” or “Bridger Aerospace”), (NASDAQ: BAER, BAERW), one of the nation’s largest aerial firefighting companies, today congratulates Timothy P. Sheehy, the Company’s founder and former chief executive officer of the Company, for being sworn into the United States Senate as the U.S. Senator for the State of Montana. “We are extremely proud of the leadership and sacrifices that Tim has made for the country, and we a ...

Financial Performance - Revenues for the three months ended September 30, 2024, were $64.5 million, representing a 20% increase from $53.6 million in the same period in 2023[151] - Gross income for the quarter was $41.5 million, a 10% increase from $37.6 million in the prior year[151] - Operating income rose to $32.9 million, a 46% increase compared to $22.6 million in the same quarter last year[151] - Net income for the quarter was $27.3 million, reflecting a 56% increase from $17.5 million in the prior year[151] - Revenues increased by $17.4 million, or 27%, to $83.0 million for the nine months ended September 30, 2024, from $65.6 million for the same period in 2023[164] - EBITDA increased by $16.4 million, or 58%, to $44.8 million for the nine months ended September 30, 2024, compared to $28.4 million for the same period in 2023[177] - For the nine months ended September 30, 2024, the company reported a net loss of $2.7 million, a significant improvement from a net loss of $46.2 million in the same period of 2023, representing a 94% decrease[180] Revenue Breakdown - Fire suppression revenue increased by $4.4 million, or 10%, to $50.6 million for the three months ended September 30, 2024, driven by increased flight hours for Super Scoopers[153] - Aerial surveillance revenue increased by $0.3 million, or 4%, to $7.6 million for the three months ended September 30, 2024, due to higher operating rates of the Pilatus aircraft[153] - Fire suppression revenue increased by $5.0 million, or 9%, to $61.6 million for the nine months ended September 30, 2024, attributed to an earlier start to the wildfire season[164] - Maintenance repair revenue was $5.6 million for the nine months ended September 30, 2024, compared to none for the same period in 2023[165] - Other services revenue increased by $3.4 million, or 654%, to $3.9 million for the nine months ended September 30, 2024, driven by third-party training and flight operations services[165] Cost Management - Total cost of revenues increased to $23.0 million, up 44% from $16.0 million year-over-year, driven by a 48% increase in flight operations costs[151] - Selling, general and administrative expenses decreased significantly by 43% to $8.6 million from $15.1 million, contributing to improved operating income[151] - Total cost of revenues increased by $8.3 million, or 25%, to $42.1 million for the nine months ended September 30, 2024, from $33.7 million for the same period in 2023[167] - Flight operations expenses rose by $5.0 million, or 24%, to $25.2 million for the nine months ended September 30, 2024, compared to $20.3 million in the prior year[168] - Selling, general and administrative expenses decreased by $35.3 million, or 56%, to $28.2 million for the nine months ended September 30, 2024, from $63.5 million in the previous year[170] Cash Flow and Liquidity - The company expects cash generated from operations and existing cash reserves to meet capital expenditure requirements for at least 12 months[134] - As of September 30, 2024, the company had unrestricted cash and investments totaling $33.3 million, with an additional $9.3 million in restricted cash[183] - Net cash provided by operating activities was $0.2 million for the nine months ended September 30, 2024, a significant improvement from a net cash used of $41.5 million in the same period of 2023[195] - Net cash provided by financing activities was $5.4 million for the nine months ended September 30, 2024, compared to a net cash used of $5.1 million in the same period of 2023[197] Liabilities and Compliance - The company has $21.7 million in current liabilities, with $13.6 million classified as accrued expenses and other current liabilities[185] - Long-term liabilities stood at $216.2 million, which includes $203.0 million in total long-term debt, primarily from the Series 2022 Bonds[185] - The company is currently not in compliance with certain financial covenants associated with the Series 2022 Bonds, raising concerns about its ability to continue as a going concern[182] - As of September 30, 2024, the Company is not in compliance with the Debt Service Coverage Ratio (DSCR) covenant and anticipates potential non-compliance in the next 12 months due to seasonal business nature and uncertainty regarding the 2025 wildfire season[188] Strategic Initiatives - The aerial firefighting services are expected to see increased demand due to climate trends and the intensity of the North American fire season[141] - The company has made significant investments in capital expenditures to expand integrated response solutions[134] - The company is engaged in a project to purchase and upgrade Spanish Scoopers, with estimated renovation costs between $8 million to $12 million per aircraft, expected to generate revenue in line with its current fleet[183] - The company is exploring future financing options and anticipates investments in additional aircraft and research and development[221] Internal Controls and Compliance - Bridger identified material weaknesses in internal control over financial reporting, including issues with accounting for complex transactions and IT general controls[223] - The company is focused on remediating these weaknesses by recruiting personnel with GAAP knowledge and implementing new software solutions[223] - Continuous improvement of internal control over financial reporting is a commitment of the company[223] - The remediation efforts will require validation and testing over sustained financial reporting cycles[223]

Bridger Aerospace Group Holdings, Inc. (BAER) reported an earnings per share (EPS) of 31 cents in the third quarter of 2024, up 40.9% from the year-ago quarter’s EPS of 22 cents.BAER’s Revenues in DetailBridger Aerospace registered revenues of $64.5 million in the third quarter, up 20.3% year over year.Revenues in the reported quarter benefited from higher flight revenues, $2.2 million related to return-to-service work performed on the four Spanish Super Scoopers as part of Bridger Aerospace’s partnership a ...