Bridger Aerospace Group Holdings, Inc. Warrant (BAERW) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BAERW SEC filings page.
Bridger Aerospace Group Holdings, Inc. Warrant (BAERW) reported $115.4M in revenue over the twelve months to Jun 30, 2026, down 8.7% from the prior twelve months. 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).
Bridger’s improving margins now coexist with positive accounting earnings, heavy reinvestment, and a liability-heavy balance sheet.
FY2024 converted operating cash flow of$9.4M into free cash flow of$5.3M , indicating limited reinvestment needs that year. In FY2025, operating cash flow rose to$16.7M but free cash flow turned negative at-$64.2M , so the cash shortfall came primarily from a sharp capital-spending step-up rather than weaker operating collections.
Revenue expanded from
Operating margin moved from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 5 of 6, with the others left out rather than counted as zero. 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. Warrant'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.
Bridger Aerospace Group Holdings, Inc. Warrant's revenue surged 24.6% year-over-year to $122.8M, reflecting rapid business expansion. This strong growth earns a score of 91/100.
Not available for Bridger Aerospace Group Holdings, Inc. Warrant, so it is left out of the overall score, which averages the 5 of 6 dimensions that can be computed.
With a current ratio of 2.43, Bridger Aerospace Group Holdings, Inc. Warrant holds $2.43 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 69/100.
While Bridger Aerospace Group Holdings, Inc. Warrant generated $16.7M in operating cash flow, capex of $80.9M consumed most of it, leaving -$64.2M in free cash flow. This results in a low score of 7/100, reflecting heavy capital investment rather than weak cash generation.
Bridger Aerospace Group Holdings, Inc. Warrant 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. Warrant 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. Warrant generated $30.5M in revenue in Q2 2026. This represents a decrease of 0.8% from the same quarter a year earlier. Against the prior quarter it is up 258.2%.
Bridger Aerospace Group Holdings, Inc. Warrant reported a net loss of $498K in Q2 2026. This represents a decrease of 261.7% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Bridger Aerospace Group Holdings, Inc. Warrant earned -$0.13 per diluted share (EPS) in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative.
Not reported for Q2 2026.
Cash & Balance Sheet
Bridger Aerospace Group Holdings, Inc. Warrant recorded an outflow of $18.5M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 3685.8% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Bridger Aerospace Group Holdings, Inc. Warrant held $7.2M in cash against $233.1M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Bridger Aerospace Group Holdings, Inc. Warrant's gross margin was 37.1% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 2.1 percentage points from the same quarter a year earlier.
Bridger Aerospace Group Holdings, Inc. Warrant's net profit margin was -1.6% in Q2 2026, showing the share of revenue converted to profit. This is down 2.6 percentage points from the same quarter a year earlier.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Bridger Aerospace Group Holdings, Inc. Warrant invested $2.8M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 198.3% from the same quarter a year earlier. Against the prior quarter it is down 51.5%.
Not reported for Q2 2026.
Not reported for Q2 2026.
BAERW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $30.5M-0.8% | $8.5M-45.6% | $8.5M-45.2% | $67.9M+5.2% | $30.8M+136.3% | $15.6M+184.1% | $15.6M+1306.6% | $64.5M+20.3% |
| Cost of Revenue | $19.2M+2.5% | $17.0M-0.9% | $14.1M-8.4% | $21.1M-8.1% | $18.7M+89.5% | $17.2M+86.9% | $15.4M+102.4% | $23.0M+44.0% |
| Gross Profit | $11.3M-6.0% | -$8.5Mn/m | -$5.6M-3121.7% | $46.8M+12.6% | $12.1M+282.9% | -$1.6Mn/m | $184Kn/m | $41.5M+10.2% |
| SG&A Expenses | $5.3M-18.6% | $16.7M+94.8% | $13.4M+75.4% | $7.7M-10.6% | $6.5M-17.4% | $8.6M-26.0% | $7.7M-60.4% | $8.6M-42.6% |
| Operating Income | N/A | N/A | N/A | $39.0M+18.8% | $5.5Mn/m | -$10.2Mn/m | -$7.5Mn/m | $32.9M+45.5% |
| EBITDA | N/A | N/A | N/A | $47.2M+6.5% | $9.5Mn/m | -$8.2Mn/m | -$4.8Mn/m | $44.3M+59.3% |
| Interest Expense | $6.6M+15.2% | $6.2M+7.2% | $6.0M+0.7% | $5.8M-3.1% | $5.7M-2.0% | $5.7M-3.2% | $5.9M-1.5% | $6.0M+0.3% |
| Income Tax | -$5K-102.7% | $28K-88.8% | $192Kn/m | -$840Kn/m | $182Kn/m | $251K+1692.9% | -$292K-2533.3% | $0n/m |
| Net Income | -$498K-261.7% | -$31.3Mn/m | -$15.1Mn/m | $34.5M+26.2% | $308Kn/m | -$15.5Mn/m | -$12.8Mn/m | $27.3M+56.4% |
| EPS (Basic) | -$0.13n/m | -$0.69n/m | -$0.40n/m | $0.50+28.2% | -$0.12n/m | -$0.41n/m | -$0.38 | $0.39+56.0% |
| EPS (Diluted) | -$0.13n/m | -$0.69n/m | -$0.40n/m | $0.37+19.4% | -$0.12n/m | -$0.41n/m | -$0.38 | $0.31+40.9% |
| Diluted Shares (Avg) | 56M+4.8% | 55M+2.7% | N/A | 92M+4.7% | 54M+11.5% | 54M+13.1% | N/A | 88M+10.7% |
Not reported in any period shown, so not listed: R&D Expenses.
BAERW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $324.1M+16.2% | $314.4M+14.1% | $330.3M+13.6% | $311.0M+1.2% | $279.0M-0.9% | $275.6M+9.2% | $290.8M+6.3% | $307.3M+5.7% |
| Current Assets | $32.5M-39.4% | $19.2M-58.6% | $40.2M-37.0% | $88.2M+18.7% | $53.6M+37.7% | $46.4M+84.0% | $63.8M+41.2% | $74.3M+16.5% |
| Cash & Equivalents | $7.2M-57.5% | $9.0M-59.7% | $31.4M-20.2% | $55.1M+65.4% | $17.0M+99.8% | $22.3M+229.8% | $39.3M+71.4% | $33.3M+72.0% |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0-100.0% | $0-100.0% |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Goodwill | $20.9M0.0% | $20.9M0.0% | $20.9M+0.7% | $20.9M-15.8% | $20.9M-15.6% | $20.9M+58.7% | $20.7M+57.6% | $24.8M+88.9% |
| Total Liabilities | $711.2M+12.9% | $694.5M+11.5% | $672.9M+9.0% | $633.4M+3.6% | $630.0M+3.3% | $623.0M+3.6% | $617.5M+2.7% | $611.7M+3.9% |
| Current Liabilities | $18.7M-24.1% | $21.3M+0.7% | $16.5M-29.4% | $22.3M+2.8% | $24.6M-1.1% | $21.2M+5.6% | $23.4M-7.9% | $21.7M+41.6% |
| Non-Current Liabilities | $692.5M+14.4% | $673.1M+11.9% | $656.4M+10.5% | $611.0M+3.6% | $605.4M+3.5% | $601.8M+3.6% | $594.1M+3.1% | $589.9M+2.8% |
| Long-Term Debt | $233.1M+16.0% | $215.9M+7.0% | $212.4M+4.9% | $200.4M-1.3% | $201.0M-1.3% | $201.9M-1.1% | $202.5M-1.0% | $203.0M-1.1% |
| Total Equity | -$387.1Mn/m | -$380.1Mn/m | -$342.6Mn/m | -$322.4Mn/m | -$351.0Mn/m | -$347.4Mn/m | -$326.7Mn/m | -$304.4Mn/m |
| Retained Earnings | -$456.9Mn/m | -$456.4Mn/m | -$425.1Mn/m | -$409.9Mn/m | -$444.5Mn/m | -$444.8Mn/m | -$429.2Mn/m | -$416.4Mn/m |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable.
BAERW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$15.7M-1189.9% | -$21.1Mn/m | -$8.0M-165.9% | $41.0M+20388.0% | $1.4Mn/m | -$17.7Mn/m | $12.2M-17.0% | $200K-98.3% |
| Depreciation & Amortization | $4.8M+20.3% | $2.0M+3.6% | $1.3M-52.6% | $8.2M-28.5% | $4.0M+101.2% | $2.0M+53.4% | $2.7M+214.9% | $11.5M+118.6% |
| Stock-Based Compensation | N/A | $2.4M+22.1% | N/A | N/A | N/A | $2.0M-66.1% | N/A | N/A |
| Capital Expenditures | $2.8M+198.3% | $5.7M+72.1% | $70.4M+7044.4% | $6.3M+450.2% | $926K-6.6% | $3.3M+246.0% | $985K-63.3% | $1.2M-79.2% |
| Free Cash Flow | -$18.5M-3685.8% | -$26.8Mn/m | -$78.4M-799.8% | $34.6Mn/m | $515Kn/m | -$21.0Mn/m | $11.2M-6.6% | -$951K-114.8% |
| Investing Cash Flow | -$3.2Mn/m | -$6.0Mn/m | -$23.9Mn/m | -$6.6Mn/m | -$1.2M-175.0% | -$2.6M-194.9% | -$1.0Mn/m | -$1.4M-118.8% |
| Financing Cash Flow | $17.2Mn/m | $4.8Mn/m | -$1.5Mn/m | -$847Kn/m | -$851K-111.2% | -$1.2Mn/m | -$734Kn/m | -$1.3Mn/m |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
BAERW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 37.1%-2.1pp | -100.3% | -65.0%-66.2pp | 68.9%+4.5pp | 39.2%+15.0pp | -10.0%+57.2pp | 1.2% | 64.3%-5.9pp |
| Operating Margin | N/A | N/A | N/A | 57.5%+6.5pp | 18.0%+54.5pp | -64.9% | -48.0% | 50.9%+8.8pp |
| Net Margin | -1.6%-2.6pp | -367.8% | -177.2% | 50.8%+8.5pp | 1.0%+77.7pp | -99.3% | -82.4% | 42.4%+9.8pp |
| Return on Assets | -0.1%-0.3pp | -10.0%-4.3pp | -4.6%-0.2pp | 11.1%+2.2pp | 0.1%+3.6pp | -5.6%+2.3pp | -4.4%+7.0pp | 8.9%+2.9pp |
| Current Ratio | 1.73-0.4x | 0.90-1.3x | 2.43-0.3x | 3.95+0.5x | 2.17+0.6x | 2.19+0.9x | 2.73+0.9x | 3.42-0.7x |
| Asset Turnover | 0.090.0x | 0.030.0x | 0.030.0x | 0.220.0x | 0.11+0.1x | 0.060.0x | 0.050.0x | 0.210.0x |
| FCF Margin | -60.6%-62.2pp | -315.0% | -917.3% | 51.0%+52.5pp | 1.7% | -134.0% | 71.9% | -1.5%-13.5pp |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity, Liabilities-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: Gross Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$342.6M), which causes the debt-to-equity, liabilities-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Bridger Aerospace Group Holdings, Inc. Warrant BAERW | FY2025 | $122.8M | $4.1M | 3.4% | N/A | 44/100 |
| Iveda Solutions, Inc. Warrant IVDAW | FY2025 | $5.3M | -$3.2M | -60.6% | N/A | 56/100 |
| SuperCom, Ltd SPCB | FY2025 | $27.9M | $3.7M | 13.4% | $56.8M | 38/100 |
| Guardforce AI Co., Limited GFAI | FY2025 | $35.2M | -$6.6M | -18.9% | $6.9M | 44/100 |
Where Bridger Aerospace Group Holdings, Inc. Warrant Ranks
Frequently Asked Questions
What is Bridger Aerospace Group Holdings, Inc. Warrant's annual revenue?
Bridger Aerospace Group Holdings, Inc. Warrant (BAERW) 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. Warrant's revenue growing?
Bridger Aerospace Group Holdings, Inc. Warrant (BAERW) revenue grew by 24.6% year-over-year, from $98.6M to $122.8M in fiscal year 2025.
Is Bridger Aerospace Group Holdings, Inc. Warrant profitable?
No, Bridger Aerospace Group Holdings, Inc. Warrant (BAERW) reported a net loss of $12.4M over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net income of $4.1M, with a net profit margin of 3.4%.
How much debt does Bridger Aerospace Group Holdings, Inc. Warrant have?
As of fiscal year 2025, Bridger Aerospace Group Holdings, Inc. Warrant (BAERW) had $31.4M in cash and equivalents against $212.4M in long-term debt.
What is Bridger Aerospace Group Holdings, Inc. Warrant's gross margin?
Bridger Aerospace Group Holdings, Inc. Warrant (BAERW) 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. Warrant's net profit margin?
Bridger Aerospace Group Holdings, Inc. Warrant (BAERW) 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. Warrant's free cash flow?
Bridger Aerospace Group Holdings, Inc. Warrant (BAERW) 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. Warrant's operating cash flow?
Bridger Aerospace Group Holdings, Inc. Warrant (BAERW) 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. Warrant's total assets?
Bridger Aerospace Group Holdings, Inc. Warrant (BAERW) 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. Warrant's capital expenditures?
Bridger Aerospace Group Holdings, Inc. Warrant (BAERW) invested $80.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Bridger Aerospace Group Holdings, Inc. Warrant's current ratio?
Bridger Aerospace Group Holdings, Inc. Warrant (BAERW) had a current ratio of 2.43 as of fiscal year 2025, which is generally considered healthy.
What is Bridger Aerospace Group Holdings, Inc. Warrant's return on assets (ROA)?
Bridger Aerospace Group Holdings, Inc. Warrant (BAERW) 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. Warrant's debt-to-equity ratio negative or not reported?
Bridger Aerospace Group Holdings, Inc. Warrant (BAERW) has negative shareholder equity of -$342.6M as of fiscal year 2025, so no debt-to-equity or liabilities-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. Warrant's Piotroski F-Score?
Bridger Aerospace Group Holdings, Inc. Warrant (BAERW) 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. Warrant's earnings high quality?
Bridger Aerospace Group Holdings, Inc. Warrant (BAERW) 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. Warrant?
Bridger Aerospace Group Holdings, Inc. Warrant (BAERW) scores 44 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), 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. For Bridger Aerospace Group Holdings, Inc. Warrant it averages the 5 of 6 dimensions that can be computed; the others are left out rather than counted as zero. 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.