Bridger Aerospace Group Holdings, Inc. Financials
Bridger Aerospace Group Holdings, Inc. (BAER) reported $122.8M in revenue for fiscal year 2025, up 24.6% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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).
Positive operating cash flow is being eclipsed by heavy reinvestment in a business with a negative-equity balance sheet.
By FY2025, gross margin held at42.1% while operating cash flow turned positive at$16.7M . Yet free cash flow fell to-$64.2M because capital spending surged to$80.9M , showing that cash strain came from reinvestment rather than weak day-to-day conversion.
The most useful leverage read is not the reported ratio but the fact that liabilities exceed assets by
Overhead discipline mattered as much as top-line growth: selling and administrative expense fell from
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Bridger Aerospace Group Holdings, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Bridger Aerospace Group Holdings, Inc., and counted as zero in the overall score.
Bridger Aerospace Group Holdings, Inc. passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Bridger Aerospace Group Holdings, Inc. generates $4.04 in operating cash flow ($16.7M OCF vs $4.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Bridger Aerospace Group Holdings, Inc. generated $122.8M in revenue in fiscal year 2025. This represents an increase of 24.6% from the prior year.
Bridger Aerospace Group Holdings, Inc. reported $4.1M in net income in fiscal year 2025. This represents an increase of 126.6% from the prior year.
Bridger Aerospace Group Holdings, Inc. earned -$0.42 per diluted share (EPS) in fiscal year 2025. This represents an increase of 48.1% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Bridger Aerospace Group Holdings, Inc. recorded an outflow of $64.2M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 1318.2% from the prior year.
Bridger Aerospace Group Holdings, Inc. held $31.4M in cash against $212.4M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Bridger Aerospace Group Holdings, Inc.'s gross margin was 42.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.4 percentage points from the prior year.
Bridger Aerospace Group Holdings, Inc.'s net profit margin was 3.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 19.2 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Bridger Aerospace Group Holdings, Inc. invested $80.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 1881.9% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
BAER Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| Revenue | $115.4M | $122.8M+24.6% | $98.6M+47.8% | $66.7M+43.8% | $46.4M |
| Cost of Revenue | $71.5M | $71.1M+23.8% | $57.5M+39.0% | $41.3M+22.0% | $33.9M |
| Gross Profit | $44.0M | $51.7M+25.6% | $41.1M+62.2% | $25.4M+102.9% | $12.5M |
| SG&A Expenses | $43.2M | $36.3M+1.3% | $35.8M-56.8% | $82.9M+135.9% | $35.1M |
| Operating Income | N/A | N/A | $5.3M+109.2% | -$57.5M-154.1% | -$22.6M |
| Interest Expense | N/A | N/A | $23.7M+2.1% | $23.2M+16.0% | $20.0M |
| Income Tax | -$625K | -$215K+71.8% | -$762K-152.3% | -$302K | $0 |
| Net Income | -$12.4M | $4.1M+126.6% | -$15.6M+79.9% | -$77.4M-83.6% | -$42.1M |
| EPS (Diluted) | — | -$0.42+48.1% | -$0.81 | -$1.00 | -$8.20 |
Not reported in any period shown, so not listed: R&D Expenses.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
BAER Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|
| Total Assets | $330.3M+13.6% | $290.8M+6.3% | $273.5M-10.6% | $306.0M |
| Current Assets | $40.2M-37.0% | $63.8M+41.2% | $45.2M-57.7% | $106.9M |
| Cash & Equivalents | $31.4M-20.2% | $39.3M+71.4% | $23.0M-23.9% | $30.2M |
| Accounts Receivable | N/A | N/A | N/A | $29K |
| Goodwill | $20.9M+0.7% | $20.7M+57.6% | $13.2M+435.5% | $2.5M |
| Total Liabilities | $672.9M+9.0% | $617.5M+2.7% | $601.4M-16.4% | $719.6M |
| Current Liabilities | $16.5M-29.4% | $23.4M-7.9% | $25.4M+4.5% | $24.3M |
| Long-Term Debt | $212.4M+4.9% | $202.5M-1.0% | $204.6M-0.4% | $205.5M |
| Total Equity | -$342.6M-4.9% | -$326.7M+0.4% | -$327.9M+20.7% | -$413.6M |
| Retained Earnings | -$425.1M+1.0% | -$429.2M-3.8% | -$413.7M+0.4% | -$415.3M |
Not reported in any period shown, so not listed: Inventory.
BAER Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$3.9M | $16.7M+78.9% | $9.4M+134.9% | -$26.8M-170.3% | -$9.9M |
| Capital Expenditures | $85.2M | $80.9M+1881.9% | $4.1M-80.3% | $20.7M-18.9% | $25.6M |
| Free Cash Flow | -$89.0M | -$64.2M-1318.2% | $5.3M+111.1% | -$47.5M-33.9% | -$35.5M |
| Investing Cash Flow | -$39.7M | -$34.4M-1775.2% | $2.1M-92.4% | $27.2M+130.2% | -$89.8M |
| Financing Cash Flow | $19.7M | -$4.3M-192.4% | $4.7M+180.1% | -$5.8M-104.7% | $124.9M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
BAER Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|
| Gross Margin | 42.1%+0.4pp | 41.7%+3.7pp | 38.0%+11.1pp | 27.0% |
| Operating Margin | N/A | 5.4%+91.6pp | -86.2%-37.4pp | -48.8% |
| Net Margin | 3.4%+19.2pp | -15.8% | -116.0% | -90.8% |
| Return on Assets | 1.3%+6.6pp | -5.3%+22.9pp | -28.3%-14.5pp | -13.8% |
| Current Ratio | 2.43-0.3x | 2.73+0.9x | 1.78-2.6x | 4.40 |
| FCF Margin | -52.3%-57.6pp | 5.3%+76.6pp | -71.3%+5.3pp | -76.5% |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.
Note: Shareholder equity is negative (-$342.6M), 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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Where Bridger Aerospace Group Holdings, Inc. Ranks
Frequently Asked Questions
What is Bridger Aerospace Group Holdings, Inc.'s annual revenue?
Bridger Aerospace Group Holdings, Inc. (BAER) reported $122.8M in total revenue for fiscal year 2025. This represents a 24.6% 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 24.6% year-over-year, from $98.6M to $122.8M in fiscal year 2025.
Is Bridger Aerospace Group Holdings, Inc. profitable?
Yes, Bridger Aerospace Group Holdings, Inc. (BAER) reported a net income of $4.1M in fiscal year 2025, with a net profit margin of 3.4%.
How much debt does Bridger Aerospace Group Holdings, Inc. have?
As of fiscal year 2025, Bridger Aerospace Group Holdings, Inc. (BAER) had $31.4M in cash and equivalents against $212.4M 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 42.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Bridger Aerospace Group Holdings, Inc.'s net profit margin?
Bridger Aerospace Group Holdings, Inc. (BAER) had a net profit margin of 3.4% in fiscal year 2025, 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) recorded an outflow of $64.2M in free cash flow during fiscal year 2025. This represents a -1318.2% 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 $16.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Bridger Aerospace Group Holdings, Inc.'s total assets?
Bridger Aerospace Group Holdings, Inc. (BAER) had $330.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Bridger Aerospace Group Holdings, Inc.'s capital expenditures?
Bridger Aerospace Group Holdings, Inc. (BAER) invested $80.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Bridger Aerospace Group Holdings, Inc.'s current ratio?
Bridger Aerospace Group Holdings, Inc. (BAER) had a current ratio of 2.43 as of fiscal year 2025, which is generally considered healthy.
What is Bridger Aerospace Group Holdings, Inc.'s return on assets (ROA)?
Bridger Aerospace Group Holdings, Inc. (BAER) had a return on assets of 1.3% for fiscal year 2025, 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 not reported?
Bridger Aerospace Group Holdings, Inc. (BAER) has negative shareholder equity of -$342.6M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. 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 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 to 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 4.04x, considered cash-backed (high 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.
How financially healthy is Bridger Aerospace Group Holdings, Inc.?
Bridger Aerospace Group Holdings, Inc. (BAER) scores 53 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.