Core Viewpoint - Bridger Aerospace Group Holdings, Inc. reported a positive net income for the full year 2025, highlighting the strength of its business model and revenue diversification despite a below-average fire year [5][12]. Financial Performance - Revenue for Q4 2025 was $8.5 million, down from $15.6 million in Q4 2024. Excluding specific revenue from return to service work, adjusted revenue was $7.7 million compared to $10.5 million in Q4 2024 [6][12]. - Full year revenue increased by 25% to $122.8 million from $98.6 million in 2024. Excluding non-recurring revenue, adjusted revenue was $108.8 million compared to $88.5 million in 2024 [12][15]. - Positive net income for 2025 was $4.1 million, a significant recovery from a net loss of $15.6 million in 2024. Adjusted EBITDA rose by 21% to $45.3 million from $37.3 million in 2024 [15][12]. Operational Highlights - The company completed a $331.5 million financing package, which included debt refinancing and a $100 million delayed draw facility to enhance financial flexibility and support fleet expansion [6][12]. - The fleet expansion included the addition of two Spanish Scoopers and four air surveillance aircraft, positioning the company for increased operational capacity [6][12]. Future Guidance - For 2026, the company anticipates revenue between $135 million and $145 million, representing a 14% growth at the midpoint and 29% growth when excluding non-recurring revenue from 2025 [6][16]. - Adjusted EBITDA is expected to range from $55 million to $60 million, indicating a growth of 27% at the midpoint of the range [6][16].
Bridger Aerospace Announces Record 2025 Results: Revenue Grows 25%, Adjusted EBITDA up 21% Year-Over-Year and Delivers Positive Net Income