Bridger Aerospace Group Holdings, Inc. Financials
This page shows Bridger Aerospace Group Holdings, Inc. (BAER) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Bridger Aerospace Group Holdings, Inc. has an operating margin of 5.4%, meaning the company retains $5 of operating profit per $100 of revenue. This below-average margin results in a low score of 27/100, suggesting thin profitability after operating expenses. This is up from -86.2% the prior year.
Bridger Aerospace Group Holdings, Inc.'s revenue surged 47.8% year-over-year to $98.6M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
With a current ratio of 2.73, Bridger Aerospace Group Holdings, Inc. holds $2.73 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 89/100.
Bridger Aerospace Group Holdings, Inc.'s free cash flow margin of 5.3% results in a low score of 27/100. Capital expenditures of $4.1M absorb a large share of operating cash flow.
Bridger Aerospace Group Holdings, Inc. scores -1.36, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($143.9M) relative to total liabilities ($617.5M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Bridger Aerospace Group Holdings, Inc. passes 7 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Bridger Aerospace Group Holdings, Inc. generates $-0.60 in operating cash flow ($9.4M OCF vs -$15.6M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Bridger Aerospace Group Holdings, Inc. earns $0.2 in operating income for every $1 of interest expense ($5.3M vs $23.7M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Bridger Aerospace Group Holdings, Inc. generated $98.6M in revenue in fiscal year 2024. This represents an increase of 47.8% from the prior year.
Bridger Aerospace Group Holdings, Inc.'s EBITDA was $22.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 149.1% from the prior year.
Bridger Aerospace Group Holdings, Inc. generated $5.3M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 111.1% from the prior year.
Bridger Aerospace Group Holdings, Inc. reported -$15.6M in net income in fiscal year 2024. This represents an increase of 79.9% from the prior year.
Bridger Aerospace Group Holdings, Inc. earned $-0.81 per diluted share (EPS) in fiscal year 2024. This represents an increase of 19.0% from the prior year.
Bridger Aerospace Group Holdings, Inc. held $39.3M in cash against $202.5M in long-term debt as of fiscal year 2024.
Bridger Aerospace Group Holdings, Inc. had 54M shares outstanding in fiscal year 2024. This represents an increase of 21.1% from the prior year.
Bridger Aerospace Group Holdings, Inc.'s gross margin was 41.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 3.7 percentage points from the prior year.
Bridger Aerospace Group Holdings, Inc.'s operating margin was 5.4% in fiscal year 2024, reflecting core business profitability. This is up 91.6 percentage points from the prior year.
Bridger Aerospace Group Holdings, Inc.'s net profit margin was -15.8% in fiscal year 2024, showing the share of revenue converted to profit. This is up 100.2 percentage points from the prior year.
Bridger Aerospace Group Holdings, Inc. invested $4.1M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 80.3% from the prior year.
BAER Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $67.9M+120.8% | $30.8M+96.5% | $15.6M+0.4% | $15.6M+19.8% | $13.0M+136.3% | $5.5M+397.0% | $1.1M-97.9% | $53.6M |
| Cost of Revenue | $21.1M+13.0% | $18.7M+8.7% | $17.2M+11.7% | $15.4M+56.1% | $9.9M+7.2% | $9.2M+21.0% | $7.6M-52.4% | $16.0M |
| Gross Profit | $46.8M+288.0% | $12.1M+872.0% | -$1.6M-948.4% | $184K-94.2% | $3.1M+185.1% | -$3.7M+43.1% | -$6.5M-117.3% | $37.6M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $7.7M+18.4% | $6.5M-24.1% | $8.6M+12.0% | $7.7M-3.0% | $7.9M-31.9% | $11.6M-40.1% | $19.4M+28.7% | $15.1M |
| Operating Income | $39.0M+606.2% | $5.5M+154.4% | -$10.2M-35.7% | -$7.5M-57.4% | -$4.8M+68.9% | -$15.3M+40.9% | -$25.9M-214.6% | $22.6M |
| Interest Expense | N/A | N/A | N/A | $5.9M+1.6% | $5.9M-1.2% | $5.9M-2.0% | $6.0M+1.2% | $6.0M |
| Income Tax | -$840K-561.5% | $182K-27.5% | $251K+186.0% | -$292K+39.7% | -$484K-3557.1% | $14K+16.7% | $12K+103.8% | -$314K |
| Net Income | $34.5M+11107.5% | $308K+102.0% | -$15.5M-21.0% | -$12.8M-28.7% | -$10.0M+50.3% | -$20.1M+35.5% | -$31.1M-278.1% | $17.5M |
| EPS (Diluted) | $0.37+408.3% | $-0.12+70.7% | $-0.41-70.8% | $-0.24+27.3% | $-0.33+40.0% | $-0.55-685.7% | $-0.07-131.8% | $0.22 |
BAER Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $311.0M+11.4% | $279.0M+1.2% | $275.6M-5.2% | $290.8M+3.2% | $281.7M+11.6% | $252.4M-7.7% | $273.5M-5.9% | $290.7M |
| Current Assets | $88.2M+64.6% | $53.6M+15.5% | $46.4M-27.3% | $63.8M+64.0% | $38.9M+54.4% | $25.2M-44.2% | $45.2M-29.1% | $63.8M |
| Cash & Equivalents | $55.1M+223.5% | $17.0M-23.8% | $22.3M-43.2% | $39.3M+361.4% | $8.5M+25.8% | $6.8M-70.5% | $23.0M+18.5% | $19.4M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $20.9M0.0% | $20.9M0.0% | $20.9M+0.7% | $20.7M-16.1% | $24.7M+88.0% | $13.2M0.0% | $13.2M+0.2% | $13.1M |
| Total Liabilities | $633.4M+0.5% | $630.0M+1.1% | $623.0M+0.9% | $617.5M+1.3% | $609.7M+1.4% | $601.1M0.0% | $601.4M+2.1% | $589.0M |
| Current Liabilities | $22.3M-9.3% | $24.6M+16.3% | $21.2M-9.4% | $23.4M-6.2% | $24.9M+24.2% | $20.1M-21.0% | $25.4M+65.3% | $15.4M |
| Long-Term Debt | $200.4M-0.3% | $201.0M-0.4% | $201.9M-0.3% | $202.5M-0.5% | $203.6M-0.3% | $204.1M-0.2% | $204.6M-0.3% | $205.2M |
| Total Equity | -$322.4M+8.1% | -$351.0M-1.0% | -$347.4M-6.3% | -$326.7M+0.4% | -$328.0M+5.9% | -$348.7M-6.3% | -$327.9M-9.9% | -$298.2M |
| Retained Earnings | -$409.9M+7.8% | -$444.5M+0.1% | -$444.8M-3.6% | -$429.2M+3.3% | -$443.7M-2.3% | -$433.8M-4.9% | -$413.7M-8.1% | -$382.6M |
BAER Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $41.0M+2743.6% | $1.4M+108.2% | -$17.7M-244.9% | $12.2M+153.9% | -$22.6M+0.7% | -$22.8M-255.0% | $14.7M+22.8% | $12.0M |
| Capital Expenditures | $6.3M+583.9% | $926K-72.0% | $3.3M+236.1% | $985K-0.6% | $991K+3.6% | $957K-64.3% | $2.7M-51.4% | $5.5M |
| Free Cash Flow | $34.6M+6626.8% | $515K+102.5% | -$21.0M-287.1% | $11.2M+147.5% | -$23.6M+0.5% | -$23.7M-297.7% | $12.0M+86.7% | $6.4M |
| Investing Cash Flow | -$6.6M-431.4% | -$1.2M+52.8% | -$2.6M-158.1% | -$1.0M-161.6% | $1.7M-40.3% | $2.8M+132.0% | -$8.7M-219.3% | $7.3M |
| Financing Cash Flow | -$847K+0.5% | -$851K+26.6% | -$1.2M-57.9% | -$734K-109.6% | $7.6M+949.8% | -$896K-23.4% | -$726K-19.2% | -$609K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
BAER Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 68.9%+29.7pp | 39.2%+49.2pp | -10.0%-11.2pp | 1.2%-23.0pp | 24.2%+91.3pp | -67.2%+519.7pp | -586.8%-657.0pp | 70.2% |
| Operating Margin | 57.5%+39.5pp | 18.0%+82.8pp | -64.9%-16.9pp | -48.0%-11.5pp | -36.5%+241.4pp | -278.0%+2058.2pp | -2336.2%-2378.3pp | 42.1% |
| Net Margin | 50.8%+49.8pp | 1.0%+100.3pp | -99.3%-16.9pp | -82.4%-5.7pp | -76.7%+288.1pp | -364.8%+2445.6pp | -2810.4%-2843.0pp | 32.6% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 11.1%+11.0pp | 0.1%+5.8pp | -5.6%-1.2pp | -4.4%-0.9pp | -3.5%+4.4pp | -8.0%+3.4pp | -11.4%-17.4pp | 6.0% |
| Current Ratio | 3.95+1.8 | 2.17-0.0 | 2.19-0.5 | 2.73+1.2 | 1.56+0.3 | 1.26-0.5 | 1.78-2.4 | 4.15 |
| Debt-to-Equity | -0.62-0.0 | -0.570.0 | -0.58+0.0 | -0.620.0 | -0.62-0.0 | -0.59+0.0 | -0.62+0.1 | -0.69 |
| FCF Margin | 51.0%+49.4pp | 1.7%+135.7pp | -134.0%-205.9pp | 71.9%+253.2pp | -181.3%+249.4pp | -430.7%-1513.7pp | 1082.9%+1071.0pp | 12.0% |
Note: Shareholder equity is negative (-$326.7M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Frequently Asked Questions
What is Bridger Aerospace Group Holdings, Inc.'s annual revenue?
Bridger Aerospace Group Holdings, Inc. (BAER) reported $98.6M in total revenue for fiscal year 2024. This represents a 47.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Bridger Aerospace Group Holdings, Inc.'s revenue growing?
Bridger Aerospace Group Holdings, Inc. (BAER) revenue grew by 47.8% year-over-year, from $66.7M to $98.6M in fiscal year 2024.
Is Bridger Aerospace Group Holdings, Inc. profitable?
No, Bridger Aerospace Group Holdings, Inc. (BAER) reported a net income of -$15.6M in fiscal year 2024, with a net profit margin of -15.8%.
What is Bridger Aerospace Group Holdings, Inc.'s earnings per share (EPS)?
Bridger Aerospace Group Holdings, Inc. (BAER) reported diluted earnings per share of $-0.81 for fiscal year 2024. This represents a 19.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Bridger Aerospace Group Holdings, Inc.'s EBITDA?
Bridger Aerospace Group Holdings, Inc. (BAER) had EBITDA of $22.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Bridger Aerospace Group Holdings, Inc. have?
As of fiscal year 2024, Bridger Aerospace Group Holdings, Inc. (BAER) had $39.3M in cash and equivalents against $202.5M in long-term debt.
What is Bridger Aerospace Group Holdings, Inc.'s gross margin?
Bridger Aerospace Group Holdings, Inc. (BAER) had a gross margin of 41.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Bridger Aerospace Group Holdings, Inc.'s operating margin?
Bridger Aerospace Group Holdings, Inc. (BAER) had an operating margin of 5.4% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Bridger Aerospace Group Holdings, Inc.'s net profit margin?
Bridger Aerospace Group Holdings, Inc. (BAER) had a net profit margin of -15.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Bridger Aerospace Group Holdings, Inc.'s free cash flow?
Bridger Aerospace Group Holdings, Inc. (BAER) generated $5.3M in free cash flow during fiscal year 2024. This represents a 111.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Bridger Aerospace Group Holdings, Inc.'s operating cash flow?
Bridger Aerospace Group Holdings, Inc. (BAER) generated $9.4M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Bridger Aerospace Group Holdings, Inc.'s total assets?
Bridger Aerospace Group Holdings, Inc. (BAER) had $290.8M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Bridger Aerospace Group Holdings, Inc.'s capital expenditures?
Bridger Aerospace Group Holdings, Inc. (BAER) invested $4.1M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How many shares does Bridger Aerospace Group Holdings, Inc. have outstanding?
Bridger Aerospace Group Holdings, Inc. (BAER) had 54M shares outstanding as of fiscal year 2024.
What is Bridger Aerospace Group Holdings, Inc.'s current ratio?
Bridger Aerospace Group Holdings, Inc. (BAER) had a current ratio of 2.73 as of fiscal year 2024, which is generally considered healthy.
What is Bridger Aerospace Group Holdings, Inc.'s debt-to-equity ratio?
Bridger Aerospace Group Holdings, Inc. (BAER) had a debt-to-equity ratio of -0.62 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Bridger Aerospace Group Holdings, Inc.'s return on assets (ROA)?
Bridger Aerospace Group Holdings, Inc. (BAER) had a return on assets of -5.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
Why is Bridger Aerospace Group Holdings, Inc.'s debt-to-equity ratio negative or unusual?
Bridger Aerospace Group Holdings, Inc. (BAER) has negative shareholder equity of -$326.7M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Bridger Aerospace Group Holdings, Inc.'s Altman Z-Score?
Bridger Aerospace Group Holdings, Inc. (BAER) has an Altman Z-Score of -1.36, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Bridger Aerospace Group Holdings, Inc.'s Piotroski F-Score?
Bridger Aerospace Group Holdings, Inc. (BAER) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Bridger Aerospace Group Holdings, Inc.'s earnings high quality?
Bridger Aerospace Group Holdings, Inc. (BAER) has an earnings quality ratio of -0.60x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Bridger Aerospace Group Holdings, Inc. cover its interest payments?
Bridger Aerospace Group Holdings, Inc. (BAER) has an interest coverage ratio of 0.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Bridger Aerospace Group Holdings, Inc.?
Bridger Aerospace Group Holdings, Inc. (BAER) scores 61 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.