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].
Bridger Aerospace Announces Record First Quarter; Reiterates 2025 Guidance