# BigBear.ai Holdings, Inc. (BBAI) · Edgar & Edgarette company card

> BigBear.ai Holdings (BBAI) saw revenue fall 19.3% in FY2025 to $128 million, operating margin -168% against a 0.9% median for prepackaged software, equity 68.4% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1836981 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/BBAI) · [JSON](https://www.pops4.com/boards/company/BBAI.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $128M |
| Revenue growth, 1 year | -19.3% |
| Revenue growth per year | -3.2% |
| Operating margin | -167.5% (prior year -84.3%) |
| Net margin | -230.2% |
| Operating cash flow | −$42M |
| Capital spending | $525,000 |
| Free cash flow | −$42M |
| Cash | $87M |
| Long-term debt | $107M |
| Total assets | $895M |
| Total equity | $612M |
| Equity ÷ assets | 68.4% |
| Return on equity | -48.0% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: -1.42 (distress zone)
- Piotroski F: 4 of 9 (middling)
- Beneish M: -3.99 (below the −1.78 line)
- Health Harbor boat: Weathered boat · two warning signs · operating cash flow was negative; operating loss: a margin of -167.5% in FY2025
- Cash Compass: In between · no clear cash pattern yet

## Edgarette's reading

Exposure: revenue $127.7M (FY2025), total debt $107.0M. Experience: revenue down 19.3% on the year, down 3.2% a year over 4 years; operating margin -167.5%, down from -84.3%. Soundness: equity 68.4% of assets, return on equity -48.0%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $90.7M and $131.6M next year (method v4.1: its own 4-year record of growth weighed at 50% against $100M–1B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $82.5M to $145.1M. A statistical range, not company guidance. Against peers (140 filers, $50M+ revenue, services-prepackaged software): operating margin -167.5% against a 0.9% median; growth -19.3% against 13.0%.

Range logged 2026-09-24, receipt 0dd84763541e71d7, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 2, latest 2026-09-15 ([filing](https://www.sec.gov/Archives/edgar/data/1836981/000183698126000068/0001836981-26-000068-index.htm))

## Recent filings

- 10-Q · filed 2026-10-28 · [filing](https://www.sec.gov/Archives/edgar/data/1836981/000183698126000092/0001836981-26-000092-index.htm)
- 8-K · filed 2026-10-27 · 2.02 Results of Operations and Financial Condition · [filing](https://www.sec.gov/Archives/edgar/data/1836981/000183698126000080/0001836981-26-000080-index.htm)
- 8-K · filed 2026-09-15 · 5.02 Departure or Election of Directors; Appointment of Officers · [filing](https://www.sec.gov/Archives/edgar/data/1836981/000183698126000068/0001836981-26-000068-index.htm)
- 8-K · filed 2026-08-17 · 5.02 Departure or Election of Directors; Appointment of Officers; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1836981/000143774926028183/0001437749-26-028183-index.htm)
- 8-K · filed 2026-07-31 · 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1836981/000119312526328866/0001193125-26-328866-index.htm)
- 10-Q · filed 2026-07-30 · [filing](https://www.sec.gov/Archives/edgar/data/1836981/000183698126000064/0001836981-26-000064-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001836981.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1836981

## Cite

POPS4, Edgar & Edgarette: BigBear.ai Holdings, Inc. (BBAI) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/BBAI. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.