BELGRADE, Mont., March 26, 2026 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, Inc. (“Bridger” or the “Company”) (NASDAQ: BAER. BAERW), one of the nation’s leading aerial firefighting companies, today announced the appointment of Justin Mogford as General Counsel and Corporate Secretary, effective in April. Mr. Mogford will replace James Muchmore, who is stepping down. Mogford will lead the Company’s legal, compliance, and governance functions as Bridger scales its operations and strengthens its leader ...

Financial Data and Key Metrics Changes - In 2025, the company generated revenue of $122.8 million, a 25% increase from $98.6 million in 2024. Excluding return to service work on the Spanish Super Scoopers, revenue was $108.8 million, up 23% from $88.5 million in 2024 [20][23] - The net income for 2025 was $4.1 million, compared to a net loss of $15.6 million in 2024. Adjusted EBITDA was $45.3 million in 2025, up from $37.3 million in 2024 [23] - For the fourth quarter of 2025, revenue was $8.5 million, down from $15.6 million in the fourth quarter of 2024. Adjusted EBITDA was negative $9.5 million compared to negative $2.9 million in the same quarter of 2024 [16][19] Business Line Data and Key Metrics Changes - The cost of revenues for 2025 was $71.1 million, compared to $57.5 million in 2024, with flight operation expenses of $31.9 million and maintenance expenses of $39.2 million [20][21] - Selling, general, and administrative expenses increased to $36.3 million in 2025 from $35.8 million in 2024, primarily due to an increase in the fair value of warrants [21] - The FMS subsidiary contributed $7.9 million in revenue for 2025, with a focus on internal aircraft modifications to enhance technology platforms [10] Market Data and Key Metrics Changes - The number of wildfires in 2025 was nearly 78,000, higher than the five and ten-year averages, but the acreage burned was over 30% below the averages [5] - Utilization rates increased by almost 10% year-over-year, with multi-mission aircraft nearly doubling their flight hours [5][6] Company Strategy and Development Direction - The company is targeting multi-year and exclusive use contracts to build revenue resiliency and drive utilization [8] - A five-year IDIQ contract for fixed-wing transportation services in Alaska was announced, estimated at $18.6 million, aimed at supporting federal agencies [8] - The company is focusing on enhancing its technology platforms through internal aircraft modifications and pursuing contracting opportunities with the DoD [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving over 25% growth in 2026, supported by new aircraft additions and improved utilization [25][31] - The company is well-positioned to respond to federal initiatives aimed at improving wildfire response, including the establishment of a National Wildland Firefighting Task Force [14][31] Other Important Information - The company ended 2025 with total cash and cash equivalents of $31.4 million and completed a sale-leaseback transaction to refinance existing debt [23][24] - The new CFO, Anne Hayes, and COO, Bill Andrews, were introduced, with a focus on operational excellence and growth [27][28] Q&A Session Summary Question: What is the intent behind the appointment of Bill Andrews? - The focus is on ensuring the fleet is deployed and ready year-round, leveraging his experience to enhance operational excellence [33][34] Question: Update on the return to service work for the Super Scoopers? - The third aircraft is near certification, with plans to deploy the first two for firefighting work in Europe this year [35][36] Question: Potential contract opportunities in Europe? - Portugal and Turkey are the leading countries showing interest in the Scoopers stationed in Spain, with negotiations ongoing [37] Question: How to think about normalized adjusted EBITDA margins across core missions? - The company is focused on expanding capacity and improving utilization, with Scoopers generally over 40% adjusted EBITDA margin [41][42] Question: Maintenance expenses with the addition of new aircraft? - Maintenance expenses are expected to grow at a slower rate than revenue, benefiting from economies of scale as the fleet expands [45][47] Question: Need for additional funding in the next year or two? - The current deferred draw facility provides sufficient capacity for aircraft acquisitions, with no immediate need for additional funding anticipated [48][51]

Financial Data and Key Metrics Changes - In 2025, the company generated revenue of $122.8 million, a 25% increase from $98.6 million in 2024, with ongoing operations revenue at $108.8 million, up 23% from $88.5 million in 2024 [20][23] - The net income for 2025 was $4.1 million, compared to a net loss of $15.6 million in 2024, indicating a significant turnaround in profitability [23] - Adjusted EBITDA for 2025 was $45.3 million, up from $37.3 million in 2024, reflecting improved operational efficiency [23] Business Line Data and Key Metrics Changes - The cost of revenues for 2025 was $71.1 million, with flight operation expenses at $31.9 million and maintenance expenses at $39.2 million, compared to $57.5 million in 2024 [20][21] - Selling, general, and administrative expenses increased to $36.3 million in 2025 from $35.8 million in 2024, primarily due to an increase in the fair value of warrants [21] Market Data and Key Metrics Changes - The company reported a utilization rate increase of almost 10% year-over-year, with multi-mission aircraft nearly doubling their flight hours [5][6] - The number of wildfires in 2025 was nearly 78,000, higher than the 5 and 10-year averages, but the acreage burned was over 30% below the averages, indicating a shift in wildfire management strategies [5] Company Strategy and Development Direction - The company is focusing on securing multi-year and exclusive use contracts to enhance revenue stability and fleet utilization [8] - Recent federal initiatives aim to restructure the national wildland firefighting system, which the company is positioned to support with its extensive fleet [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2026, projecting revenue growth of over 25% and adjusted EBITDA between $55 million and $60 million [25] - The company is well-positioned to capitalize on increased demand for firefighting services and is actively pursuing international contracts for its new aircraft [25][37] Other Important Information - The company completed a sale-leaseback transaction for its facilities, providing financial flexibility and capacity for future fleet expansion [23][24] - The addition of new aircraft, including two Spanish Scoopers, is expected to contribute significantly to revenue and EBITDA margins in 2026 [25][26] Q&A Session Summary Question: What is the intent behind the appointment of Bill Andrews? - The focus is on operational excellence and ensuring the fleet is ready year-round, leveraging Bill's experience in large programs to enhance the company's defense work capabilities [33][34] Question: Update on the return to service work for the Super Scoopers? - The third aircraft is near certification, with plans to deploy the first two for firefighting in Europe this year, while the fourth is further out [35][36] Question: Potential contract opportunities in Europe? - Portugal and Turkey are the leading countries showing interest in the Scoopers stationed in Spain, with hopes for commitments by March or April [37][38] Question: Normalized adjusted EBITDA margins across core missions? - The company expects to improve margins through increased utilization and the addition of high-margin aircraft, with Scoopers generally over 40% adjusted EBITDA margin [41][43] Question: Maintenance expenses with the addition of new aircraft? - Maintenance expenses are expected to grow at a slower rate than revenue, benefiting from economies of scale as the fleet expands [45][47] Question: Need for additional funding in the next year or two? - The current deferred draw facility provides sufficient capacity for aircraft acquisitions, with no immediate need for additional funding anticipated [48][51]

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].

Core Viewpoint - Bridger Aerospace Group Holdings, Inc. has appointed Adolphus "Bill" Andrews as Chief Operating Officer to enhance operational functions and meet the growing demand for aerial firefighting services [1][5]. Company Overview - Bridger Aerospace is one of the largest aerial firefighting companies in the United States, providing services to federal and state agencies, including the U.S. Forest Service [6]. Leadership Experience - Bill Andrews has over 30 years of experience in aerospace and aviation, having previously served as Vice President and Executive Program Manager at Lockheed Martin, managing a portfolio exceeding $2 billion [2][3]. - He has held senior leadership roles overseeing operations for various military aircraft, leading initiatives in fleet modernization and global maintenance support [3]. Operational Focus - Andrews will oversee all operational functions, focusing on enhancing readiness, operational excellence, safety, and scalable growth to address the increasing demand for aerial firefighting [1][5]. Strategic Importance - The appointment of Andrews is seen as a strategic move to strengthen Bridger's capabilities in delivering integrated services, particularly in the context of rising wildfire risks and the need for reliable aerial response [5].

BELGRADE, Mont., Feb. 26, 2026 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, Inc. (“Bridger” or “Bridger Aerospace”), (NASDAQ: BAER, BAERW), one of the nation’s largest aerial firefighting companies, today announced that it will release financial results for the fourth quarter and year ended December 31, 2025 on Thursday, March 5, 2026, after the market close. Management will conduct an investor conference call on Thursday, March 5 at 5:00 p.m. Eastern Time (3:00 p.m. Mountain Time) to discuss these ...

Core Insights - Bridger Aerospace Group Holdings, Inc. has completed the acquisition of two Canadair CL-215T Amphibious Aircraft, increasing its Super Scooper fleet from six to eight, positioning the company for enhanced mission capability and contract opportunities in the upcoming fire season [1][2] - The purchase of the Scoopers, valued at $50 million, was financed through a $210 million Senior Secured Term Loan Facility, which closed in October [2] - With the addition of these aircraft, Bridger now operates the largest fleet of Super Scoopers among private operators globally, totaling eight, along with a fleet of 11 Light Fixed Wing Air Attack and Surveillance aircraft [3] Company Overview - Bridger Aerospace, based in Belgrade, Montana, is one of the largest aerial firefighting companies in the United States, providing services to federal and state agencies, including the U.S. Forest Service [4]

Core Insights - Coulson Aviation USA has launched its Boeing 767 Very Large Airtanker (VLAT) program, aimed at replacing aging VLAT platforms and enhancing aerial firefighting capabilities [1][5] Industry Challenges - The grounding of MD11 and DC10 fleets has created a structural challenge for firefighting agencies, leading to a significant reduction in high-capacity retardant delivery capabilities as older aircraft are retired [2] - The industry requires solutions that are safe, efficient, and sustainable for long-term use, as the firefighting community faces rapid changes in available airframe types [3] Product Features - The 767 VLAT will feature the largest version of Coulson's patented RADS retardant delivery system, with a tank capacity exceeding any current VLAT, while also being able to carry over 160 passengers [3] - The aircraft is designed for multi-mission versatility, offering substantial improvements in payload capability, fuel efficiency, and long-term maintainability compared to legacy VLATs [3] Fleet Augmentation - The 767 VLAT will complement Coulson's existing fleet of Large Airtankers, including the C-130H Hercules and the 737 Fireliner, enhancing the capacity for sustained aerial suppression during firefighting incidents [4] Strategic Investment - Coulson Aviation is proactively investing in the Boeing 767 VLAT program to ensure partners have access to reliable and effective aircraft, reinforcing its leadership in the global firefighting community [5][6]

Core Insights - Bridger Aerospace has announced a strategic acquisition of two Canadair CL-215T Amphibious Aircraft, increasing its Super Scooper fleet from six to eight aircraft, thereby solidifying its position as the owner of the largest private Super Scooper fleet globally [1][2][4] Company Overview - Bridger Aerospace Group Holdings, Inc. is one of the largest aerial firefighting companies in the United States, providing services to federal and state government agencies, including the U.S. Forest Service [5] - The company is based in Belgrade, Montana, and operates internationally [5] Acquisition Details - The acquisition involves a $50 million transaction for the two Super Scoopers, expected to close before the end of the year, subject to customary closing conditions [2] - This expansion is anticipated to enhance the company's ability to combat severe wildfires and better serve government agency partners [2][4] Operational Impact - With the addition of the two aircraft, Bridger Aerospace is positioned for expanded contract awards and increased mission capability heading into the 2026 fire season [4] - The company is also working on returning two additional Super Scooper aircraft to service at its Spanish subsidiary, Albacete Aero, with completion scheduled for 2026 [3]

Core Viewpoint - Bridger Aerospace Group Holdings, Inc. announced the planned retirement of CFO Eric Gerratt and the succession plan involving Anne Hayes as Deputy CFO and Ernie Freedman as Chairman of the Audit Committee, aiming for a smooth transition and continued growth in the aerial firefighting sector [1][2][3]. Company Leadership Transition - Eric Gerratt will retire after the filing of the Company's 10-K in March 2026, having played a crucial role in recent initiatives and financial management during the company's growth [1][2]. - Anne Hayes, currently the Director and Audit Committee Chair, will transition to the CFO role, bringing two decades of financial leadership experience and a strong background in capital markets [2][3]. - Ernie Freedman joins as the new Chair of the Audit Committee, with over 30 years of experience in executive finance and audit leadership, previously serving as CFO of Invitation Homes Inc. [3][4]. Company Background - Bridger Aerospace is one of the largest aerial firefighting companies in the U.S., providing services to federal and state agencies, including the U.S. Forest Service [5].