Revenue and Income - Revenue for Q3 2025 was $67.9 million, a 5% increase from $64.5 million in Q3 2024[5] - Net income for Q3 2025 rose 26% to $34.5 million compared to $27.3 million in Q3 2024[8] - Year-to-date revenue for the first nine months of 2025 reached $114.3 million, a 38% increase from $83.0 million in the same period of 2024[10] - Revenues for Q3 2025 reached $67,886 million, a 5.3% increase from $64,507 million in Q3 2024[22] - Net income for Q3 2025 was $34,519 million, up from $27,346 million in Q3 2024, marking a 26.5% increase[22] - Operating income for the nine months ended September 30, 2025, was $34,406 million, significantly higher than $12,801 million for the same period in 2024[22] Cash and Assets - Cash and cash equivalents as of September 30, 2025, were $55.1 million, up from $39.3 million at the end of 2024[9] - Total current assets increased to $88,193 million as of September 30, 2025, from $63,809 million as of December 31, 2024[25] - Cash and cash equivalents at the end of Q3 2025 were $55,118 million, up from $39,336 million at the end of 2024[25] - Total assets increased to $310,986 million as of September 30, 2025, from $290,809 million as of December 31, 2024[25] Expenses and Costs - SG&A expenses decreased to $7.7 million in Q3 2025 from $8.6 million in Q3 2024, reflecting lower non-cash stock-based compensation[7] - Interest expense for Q3 2025 was $5.8 million, down from $6.0 million in Q3 2024[7] - Stock-based compensation for Q3 2025 was $1,101,000, a decrease from $3,369,000 in Q3 2024, showing a reduction of about 67.3%[39] - Depreciation and amortization for Q3 2025 was $8,196,000, down from $11,471,000 in Q3 2024, representing a decline of about 28.5%[39] - Business development and integration expenses for Q3 2025 were $331,000, compared to $287,000 in Q3 2024, an increase of approximately 15.3%[39] Financial Guidance and Projections - The company expects 2025 revenue to be between $118 million to $122 million, exceeding previous guidance of $105 million to $111 million[15] - The company is on track to achieve the higher end of its 2025 Adjusted EBITDA guidance of $42 million to $48 million[15] Other Financial Metrics - Adjusted EBITDA for Q3 2025 increased 4% to $49.1 million from $47.0 million in Q3 2024[8] - Adjusted EBITDA for the nine months ended September 30, 2025, was $54,821,000, compared to $40,237,000 for the same period in 2024, reflecting a growth of about 36.3%[39] - EBITDA for Q3 2025 was $47,677,000, up from $44,806,000 in Q3 2024, indicating an increase of approximately 6.2%[39] - Interest expense for the nine months ended September 30, 2025, totaled $17,274,000, slightly down from $17,766,000 in the same period of 2024, a decrease of approximately 2.8%[39] Liabilities and Tax - Total liabilities decreased to $233,064 million as of September 30, 2025, from $237,332 million as of December 31, 2024[25] - The company reported a tax benefit of $(840,000) for Q3 2025, compared to no tax benefit in Q3 2024[39]
Bridger Aerospace(BAER) - 2025 Q3 - Quarterly Results