NEW YORK, May 6, 2025 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in BigBear.ai Holdings, Inc. ("BigBear.ai Holdings" or the "Company") (NYSE: BBAI) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of BigBear.ai Holdings investors who were adversely affected by alleged securities fraud between March 31, 2022 and March 25, 2025. Follow the link below to get more information and be contacted by a member of our team:https://zlk.com/pslra-1/bigbea ...

NEW YORK, May 05, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in BigBear.ai Holdings, Inc. ("BigBear.ai Holdings" or the "Company") (NYSE: BBAI) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of BigBear.ai Holdings investors who were adversely affected by alleged securities fraud between March 31, 2022 and March 25, 2025. Follow the link below to get more information and be contacted by a member of our team: https://zlk.com/pslra-1 ...

NEW YORK, May 05, 2025 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, announces that a complaint has been filed in the United States District Court for the Eastern District of Virginia on behalf of investors who purchased or acquired the securities of BigBear.ai Holdings, Inc. (“BigBear” or the “Company”) (NYSE: BBAI) between March 31, 2022 and March 25, 2025, inclusive, alleging violations of the Securities Exchange Act of 1934 against the Company and certain o ...

NEW YORK, May 05, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against BigBear.ai Holdings, Inc. (NYSE: BBAI) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in BigBear.ai, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/bigbearai-holdings-inc. Investors have until June 10, 2025, to ask the Court to be a ...

Core Viewpoint - Rosen Law Firm is reminding investors who purchased BigBear.ai Holdings, Inc. securities between March 31, 2022, and March 25, 2025, of the June 10, 2025, deadline to become lead plaintiffs in a class action lawsuit [1] Group 1: Class Action Details - A class action lawsuit has been filed against BigBear.ai, and investors may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [1][2] - Investors wishing to serve as lead plaintiffs must file with the court by June 10, 2025 [2] Group 2: Legal Representation - Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions [3] - The firm has achieved significant settlements for investors, including over $438 million in 2019 and has been ranked highly in securities class action settlements since 2013 [3] Group 3: Case Allegations - The lawsuit alleges that BigBear.ai made false and misleading statements regarding its accounting practices, particularly related to the 2026 Convertible Notes [4] - Specific allegations include deficiencies in accounting review policies, improper accounting for the 2026 Convertible Notes, and the likelihood of needing to restate financial statements [4] - The inaccuracies in financial statements are claimed to have caused investor damages when the true details became public [4]

NEW YORK, May 03, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against BigBear.ai Holdings, Inc. (NYSE: BBAI) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in BigBear.ai, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/bigbearai-holdings-inc. Investors have until June 10, 2025, to ask the Court to be a ...

Financial Performance - BigBear.ai reported revenues of $34.8 million for the three months ended March 31, 2025, representing a year-over-year increase of $1.6 million or 4.9% compared to $33.1 million in the same period of 2024[196][197]. - The operating loss for Q1 2025 was $21.2 million, an improvement from a loss of $98.1 million in Q1 2024[196]. - BigBear.ai's net loss for the three months ended March 31, 2025, was $62.0 million, compared to a net loss of $127.8 million in the same period of 2024[196]. - Free cash flow for Q1 2025 was a negative $8.3 million, an improvement from negative $16.0 million in Q1 2024, indicating better cash generation capabilities[215]. - The company reported a net loss before depreciation, amortization, and other non-cash items of $12.0 million for the three months ended March 31, 2025, compared to a net loss of $7.8 million in the same period of 2024[245][246]. Revenue and Cost Analysis - Cost of revenues for the same period was $27.4 million, up $1.2 million or 4.7% from $26.1 million in 2024, maintaining a cost of revenues as a percentage of total revenues at 79%[196][199]. - SG&A expenses increased to $22.7 million for the three months ended March 31, 2025, up 34.1% from $16.9 million in the same period of 2024, with SG&A as a percentage of revenues rising to 65% from 51%[200]. - Research and development expenses surged by $3.0 million to $4.2 million in Q1 2025, representing a 264.2% increase compared to $1.1 million in Q1 2024, driven by increased headcount and project timing[201]. - Restructuring charges rose to $1.7 million in Q1 2025, a 97.4% increase from $860,000 in Q1 2024, related to employee separation costs for strategic cost-saving initiatives[202]. Cash Flow and Financing Activities - The net cash provided by financing activities for the three months ended March 31, 2025, was $65.9 million, an increase of 29% from $51.0 million in the same period of 2024[248][249]. - The company sold 1,936,000 shares under the ATM Program for an aggregate offering price of $6.6 million during the three months ended March 31, 2025[228]. - The net proceeds from the exercise of the 2024 PIPE warrants and 2024 RDO warrants contributed $64.7 million to financing activities in Q1 2025[248]. - The company incurred capitalized software development costs of $1.5 million in Q1 2025, compared to $1.6 million in Q1 2024[247]. Debt and Backlog - Total debt decreased to $143.1 million as of March 31, 2025, down from $200.8 million as of December 31, 2024, reflecting a reduction of approximately 29%[230]. - Funded backlog represents the remaining contract value of goods and services to be delivered under existing contracts, providing insight into future revenue potential[219]. - As of March 31, 2025, total backlog was $384.9 million, down from $418.3 million as of December 31, 2024, representing a decrease of approximately 8%[221]. Strategic Initiatives and Acquisitions - The company completed the acquisition of Pangiam on February 29, 2024, enhancing its capabilities in vision AI and positioning it as a leader in operationalizing AI at the edge[176]. - The company anticipates that the global economic and geopolitical environment will drive long-term adoption of its AI offerings, despite potential funding shifts affecting defense spending[185]. Other Financial Metrics - Interest expense for the three months ended March 31, 2025, was $5.1 million, down from $6.4 million in the same period of 2024[196]. - Other income improved to a net loss of $276,000 in Q1 2025, a 39.3% reduction from a loss of $455,000 in Q1 2024, mainly due to increased interest income[207]. - A favorable change in net working capital of $5.4 million in Q1 2025 was driven by a decrease in accounts receivable of $4.3 million and an increase in accrued expenses of $4.4 million[245]. - Cash and cash equivalents at the end of the period for Q1 2025 were $107.6 million, up from $81.4 million at the end of Q1 2024, reflecting a 32% increase[244].

Core Viewpoint - A class action securities lawsuit has been filed against BigBear.ai Holdings, alleging securities fraud that affected investors between March 31, 2022, and March 25, 2025 [1][2]. Group 1: Allegations and Financial Misstatements - The lawsuit claims that BigBear maintained inadequate accounting review policies regarding the reporting of complex transactions [2]. - It is alleged that the Company incorrectly accounted for the 2026 Convertible Notes, failing to bifurcate the conversion option as required by accounting standards [2]. - Due to these errors, BigBear misrepresented various items in its previously issued financial statements, which may need to be restated [2]. - The inaccuracies in financial statements could lead to delays in filing reports with the SEC, increasing operational risks for the Company [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until June 10, 2025, to request appointment as lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees [3]. Group 3: Firm Background - Levi & Korsinsky has a strong track record in securities litigation, having secured hundreds of millions for shareholders over the past 20 years [4]. - The firm has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4].

Company Performance - BigBear.ai Holdings, Inc. reported a quarterly loss of $0.10 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.06, and an improvement from a loss of $0.22 per share a year ago, indicating a significant year-over-year improvement [1] - The company posted revenues of $34.76 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 3.17%, but showing an increase from $33.12 million in the same quarter last year [2] - Over the last four quarters, BigBear.ai has surpassed consensus EPS estimates three times, but has not been able to beat consensus revenue estimates during the same period [2] Stock Performance - BigBear.ai shares have declined approximately 23.4% since the beginning of the year, contrasting with the S&P 500's decline of 5.3% [3] - The current Zacks Rank for BigBear.ai is 4 (Sell), indicating expectations of underperformance in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.06 on revenues of $41.53 million, and for the current fiscal year, it is -$0.21 on revenues of $167.2 million [7] - The trend for estimate revisions ahead of the earnings release has been unfavorable, which may impact future stock performance [6] Industry Context - The Computers - IT Services industry, to which BigBear.ai belongs, is currently ranked in the bottom 34% of over 250 Zacks industries, suggesting a challenging environment for stocks in this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could be a useful metric for investors [5]

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $34.8 million, up 5% year-on-year from $33.1 million in Q1 2024, primarily driven by additional revenue from the Department of Homeland Security and digital identity awards [22] - Gross profit increased by 6% from $7 million in Q1 2024 to $7.4 million in Q1 2025, with a gross margin of 21.3%, slightly up from 21.1% in the previous year [23] - Net loss for Q1 2025 was $62 million, an improvement from a net loss of $127.8 million in Q1 2024, mainly due to the absence of goodwill impairment charges that were $85 million in the prior year [25] - Adjusted EBITDA was negative $7 million for Q1 2025, compared to negative $1.6 million in Q1 2024, driven by increased R&D expenses and recurring SG&A due to government funding delays [26] - Backlog at the end of Q1 2025 was $385 million, up 30% from Q1 2024, indicating continued customer confidence [27] - Cash and cash equivalents at the end of Q1 2025 were $108 million, up from $81 million in Q1 2024, providing increased financial flexibility [27][28] Business Line Data and Key Metrics Changes - The company is focusing on core markets such as border security, defense, and manufacturing, with ongoing support for missions at the Department of Homeland Security and expanding AI infrastructure [15][16] - In manufacturing and supply chain, the company aims to modernize the American industrial base and streamline global supply chains [16] Market Data and Key Metrics Changes - The global security environment is driving renewed focus and investment in defense technology, creating opportunities for American AI innovation [10] - There is a shift in federal procurement practices with increased emphasis on efficiency and advanced commercial technologies [10] Company Strategy and Development Direction - The company is focused on mission expertise, international growth, business alliances, and relentless innovation in AI as core strategic priorities for 2025 [12][13][14] - The growth strategy includes strengthening core markets while selectively expanding into high-potential adjacencies [14] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the dynamic business and macroeconomic environment, which presents both opportunities and potential short-term risks, including delays in funding and award timing [20] - The company reaffirms its full-year guidance for 2025, indicating confidence in its strategic focus and market positioning [20] Other Important Information - The company is committed to providing more context and transparency in its communications with stakeholders [5] - The CEO emphasizes the importance of blending technological innovation with operational expertise to succeed in complex environments [6][9] Q&A Session Summary - No specific questions and answers were provided in the content, thus this section is not applicable.