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BigBear.ai closed the acquisition of Pangiam, affirming revenue guidance of $195-$215 million for 2024. Despite revenue decline in Q1 2024, the company continues to focus on operationalizing AI solutions. Financial highlights include a decrease in revenue, gross margin, and a net loss due to various expenses. The company has seen improvements in adjusted EBITDA and SG&A reduction, ending Q1 2024 with a cash balance of $81.4 million and a backlog of $296 million. Momentum in the business includes new contracts and partnerships, positioning BigBear.ai as a leader in critical IT capabilities.
BigBear.ai Holdings, a leader in AI-powered decision intelligence solutions, partners with Spinnaker SCA to enhance supply chain consulting by combining ProModel® simulation software and Spinnaker SCA's expertise. The collaboration aims to optimize clients' supply chain, manufacturing, and warehouse operations, offering strategic guidance, simulation-based analysis, and data-driven optimization.
BigBear.ai (NYSE: BBAI) has been designated as an “Awardable” vendor for the Chief Digital and Artificial Intelligence Office’s (CDAO) Tradewinds Solutions Marketplace. Five AI solutions by BigBear.ai have been added to the Marketplace, allowing DoD users to access cutting-edge AI capabilities efficiently. With products such as ConductorOS, VANE, Arcas, AURORA, and Observe now available, BigBear.ai aims to accelerate decision-making, provide situational awareness, and transform vast amounts of data into actionable intelligence.
