Bridger Aerospace Group Holdings Inc (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 (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).
Revenue expansion is widening gross margins, but capital-intensive reinvestment and negative equity still define how the business is financed.
The business moved from an operating loss in FY2023 to a 5.4% operating margin in FY2024 while revenue reached$98.6M , suggesting that much of the improvement came from fixed-cost absorption as scale increased. Yet FY2025 operating cash flow of$16.7M was overwhelmed by$80.9M of capital expenditures, turning positive free cash flow in FY2024 into-$64.2M —accounting improvement is not currently translating into investable cash.
Gross margin rose from
The balance sheet remains structurally strained: FY2025 liabilities of
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.
Bridger Aerospace Group Holdings Inc held $31.4M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations generated $16.7M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Bridger Aerospace Group Holdings Inc scores 85/100 among other emerging companies.
Bridger Aerospace Group Holdings Inc had 56M shares outstanding at the end of fiscal year 2025, against 54M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Bridger Aerospace Group Holdings Inc scores 62/100 among other emerging companies.
Not available for Bridger Aerospace Group Holdings Inc, and counted as zero in the overall score.
Bridger Aerospace Group Holdings Inc reported revenue of $122.8M in fiscal year 2025, against $98.6M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Bridger Aerospace Group Holdings Inc scores 75/100 among other emerging companies.
Bridger Aerospace Group Holdings Inc's operations generated $16.7M of cash in fiscal year 2025, against $9.4M generated in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Bridger Aerospace Group Holdings Inc scores 93/100 among other emerging companies.
Bridger Aerospace Group Holdings Inc's cash, cash equivalents and investments came to $31.4M at the end of fiscal year 2025, against $672.9M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Bridger Aerospace Group Holdings Inc scores 9/100 among other emerging companies.
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 $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 reported -$498K in net income in Q2 2026. This represents a decrease of 261.7% from the same quarter a year earlier. Against the prior quarter it is up 98.4%.
Bridger Aerospace Group Holdings Inc earned -$0.13 per diluted share (EPS) in Q2 2026. This represents a decrease of 8.3% from the same quarter a year earlier.
Not reported for Q2 2026.
Cash & Balance Sheet
Bridger Aerospace Group Holdings Inc 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. Against the prior quarter it is up 31.1%.
Bridger Aerospace Group Holdings Inc 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'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'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 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% | -$8.5M-446.8% | -$5.6M-3121.7% | $46.8M+12.6% | $12.1M+282.9% | -$1.6M+57.8% | $184K+102.8% | $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% | $5.5M+216.2% | -$10.2M+33.7% | -$7.5M+71.1% | $32.9M+45.5% |
| EBITDA | N/A | N/A | N/A | $47.2M+6.5% | $9.5M+446.3% | -$8.2M+41.7% | -$4.8M+80.9% | $44.3M+59.3% |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | $5.9M-1.5% | $6.0M+0.3% |
| Income Tax | -$5K-102.7% | $28K-88.8% | $192K+165.8% | -$840K | $182K+137.6% | $251K+1692.9% | -$292K-2533.3% | $0+100.0% |
| Net Income | -$498K-261.7% | -$31.3M-101.5% | -$15.1M-17.9% | $34.5M+26.2% | $308K+103.1% | -$15.5M+22.6% | -$12.8M+58.7% | $27.3M+56.4% |
| EPS (Basic) | -$0.13-8.3% | -$0.69-68.3% | -$0.40-5.3% | $0.50+28.2% | -$0.12+63.6% | -$0.41+25.5% | -$0.38+54.2% | $0.39+56.0% |
| EPS (Diluted) | -$0.13-8.3% | -$0.69-68.3% | -$0.40-5.3% | $0.37+19.4% | -$0.12+63.6% | -$0.41+25.5% | -$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 | $0 | $0 | $0 | $0 | $0 | $0 | $0-100.0% | $0-100.0% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| 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 | -$387.1M-10.3% | -$380.1M-9.4% | -$342.6M-4.9% | -$322.4M-5.9% | -$351.0M-7.0% | -$347.4M+0.4% | -$326.7M+0.4% | -$304.4M-2.0% |
| Retained Earnings | -$456.9M-2.8% | -$456.4M-2.6% | -$425.1M+1.0% | -$409.9M+1.5% | -$444.5M-0.2% | -$444.8M-2.5% | -$429.2M-3.8% | -$416.4M-8.8% |
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% | -$21.1M-19.6% | -$8.0M-165.9% | $41.0M+20388.0% | $1.4M+106.4% | -$17.7M+22.4% | $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% | -$26.8M-27.9% | -$78.4M-799.8% | $34.6M+3742.8% | $515K+102.2% | -$21.0M+11.6% | $11.2M-6.6% | -$951K-114.8% |
| Investing Cash Flow | -$3.2M-156.9% | -$6.0M-126.4% | -$23.9M-2236.5% | -$6.6M-384.4% | -$1.2M-175.0% | -$2.6M-194.9% | -$1.0M+88.2% | -$1.4M-118.8% |
| Financing Cash Flow | $17.2M+2120.9% | $4.8M+511.0% | -$1.5M-99.3% | -$847K+35.4% | -$851K-111.2% | -$1.2M-29.4% | -$734K-1.1% | -$1.3M-115.3% |
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.
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 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.
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 BAERW | FY2025 | $122.8M | $4.1M | 3.4% | N/A | 54/100 |
| Guardforce Ai Co GFAIW | FY2020 | N/A | $3.1M | N/A | N/A | — |
| IVEDA SOLUTIONS INC IVDAW | FY2025 | $5.3M | -$3.2M | -60.6% | N/A | 55/100 |
| Supercom SPCB | FY2025 | $27.9M | $3.7M | 13.4% | $64.4M | 47/100 |
| Guardforce AI GFAI | FY2025 | $35.2M | -$6.6M | -18.9% | $12.0M | 32/100 |
| Verifyme Inc VRME | FY2025 | $16.4M | -$4.9M | -29.9% | $8.1M | 38/100 |
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 (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's revenue growing?
Bridger Aerospace Group Holdings Inc (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 profitable?
Yes, Bridger Aerospace Group Holdings Inc (BAERW) 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 (BAERW) 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 (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's net profit margin?
Bridger Aerospace Group Holdings Inc (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's free cash flow?
Bridger Aerospace Group Holdings Inc (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's operating cash flow?
Bridger Aerospace Group Holdings Inc (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's total assets?
Bridger Aerospace Group Holdings Inc (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's capital expenditures?
Bridger Aerospace Group Holdings Inc (BAERW) 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 (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's return on assets (ROA)?
Bridger Aerospace Group Holdings Inc (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's debt-to-equity ratio negative or not reported?
Bridger Aerospace Group Holdings Inc (BAERW) 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 (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's earnings high quality?
Bridger Aerospace Group Holdings Inc (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?
Bridger Aerospace Group Holdings Inc (BAERW) scores 54 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.