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].
Bridger Aerospace Announces Record Fourth Quarter and Full Year 2024 Results; Initiates 2025 Guidance