For the year ending 2025-12-31, BBAI-WT had $42,506K increase in cash & cash equivalents over the period. -$42,476K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Revenues | - | 158,236 | - | - |
| Adjusted cost of revenues | - | 105,818 | - | - |
| Adjusted selling and marketing | - | 4,728 | - | - |
| Adjusted general and administrative | - | 41,891 | - | - |
| Adjusted research and development | - | 8,096 | - | - |
| Goodwill impairment | - | 85,000 | - | - |
| Equity-based compensation expense | - | 21,127 | - | - |
| Net increase (decrease) in fair value of derivatives | - | -107,658 | - | - |
| Interest income | - | 2,293 | - | - |
| Interest expense | - | 25,647 | - | - |
| Depreciation and amortization | - | 11,873 | - | - |
| Loss on extinguishment of debt | - | -31,272 | - | - |
| Other segment items | - | 12,966 | - | - |
| Net loss | -293,914 | -295,547 | -60,366 | -121,674 |
| Depreciation and amortization expense | 15,281 | 11,873 | 7,901 | 7,758 |
| Amortization of debt discount and issuance costs | 9,057 | - | - | - |
| Amortization of debt issuance costs and discount | - | 13,428 | 2,018 | 2,302 |
| Accretion of discount on investments in debt securities | 966 | - | - | - |
| Equity-based compensation expense | 23,330 | 21,127 | 18,671 | 10,865 |
| Goodwill impairment | 70,636 | 85,000 | 0 | 53,544 |
| Impairment of right-of-use assets | - | 0 | 0 | 901 |
| Impairment of long-lived assets | 53,403 | - | - | - |
| Non-cash lease expense | 2,200 | 720 | 597 | 174 |
| Provision for doubtful accounts | 351 | 228 | 1,739 | 55 |
| Deferred income tax benefit | -21,660 | -328 | 88 | -1,757 |
| Loss on extinguishment of debt | -2,577 | -31,272 | 0 | 0 |
| Increase in fair value of derivatives | 92,794 | 107,658 | 7,424 | -1,591 |
| Loss on sale of property and equipment | 0 | 0 | -10 | 0 |
| Decrease (increase) in accounts receivable | -17,237 | 11,753 | -6,403 | 798 |
| Decrease (increase) in contract assets | -677 | -3,927 | 3,510 | 286 |
| Decrease (increase) in prepaid expenses and other assets | 10,370 | -2,076 | -5,899 | 1,702 |
| Decrease in accounts payable | -5,698 | -4,027 | -4,384 | 9,942 |
| (decrease) increase in accrued expenses | -254 | -2,873 | 2,637 | -5,121 |
| Increase (decrease) in contract liabilities | 593 | 514 | -1,143 | -3,740 |
| Increase (decrease) in other liabilities | 2,775 | -1,414 | -2,291 | 2,210 |
| Net cash used in operating activities | -41,951 | -38,119 | -18,307 | -48,918 |
| Purchases of investments in debt securities | 564,445 | - | - | - |
| Sales of afs investments | 191,154 | - | - | - |
| Acquisition of business, net of cash acquired | 229,025 | -13,935 | 0 | 4,465 |
| Purchases of property and equipment | 525 | 484 | 2 | 769 |
| Proceeds from disposal of property and equipment | - | - | - | 0 |
| Capitalized software development costs | 3,841 | 10,630 | 3,828 | - |
| Net cash (used in) provided by investing activities | -606,682 | 2,821 | -3,830 | -5,234 |
| Proceeds from issuance of shares for exercised rdo and pipe warrants | - | 53,809 | - | - |
| Proceeds from issuance of private placement shares and registered direct offering shares | - | - | 50,000 | - |
| Proceeds from issuance of private placement and registered direct offering shares | - | 0 | - | - |
| Proceeds from term loan | - | - | - | 0 |
| Payment of private placement and registered direct offering transaction costs | - | 0 | 5,724 | - |
| Repurchase of shares as a result of forward share purchase agreements | - | 0 | 0 | 100,896 |
| Repayment of term loan | - | - | 0 | 0 |
| Proceeds from warrant exercises | 64,673 | - | - | - |
| Proceeds from promissory notes | - | - | - | 0 |
| Proceeds from issuance of private placement and registered direct offering shares | 0 | - | - | - |
| Repayment of promissory notes | - | - | - | 0 |
| Payment of private placement and registered direct offering transaction costs | 551 | - | - | - |
| Proceeds from short-term borrowings | 0 | 817 | 1,229 | 2,059 |
| Repayment of short-term borrowings | 818 | 1,229 | 2,059 | 4,233 |
| Proceeds from issuance of convertible notes | - | - | 0 | 0 |
| Proceeds from the gig business combination | - | - | 0 | 0 |
| Proceeds from at-the-market offering | 637,073 | - | - | - |
| Payment of gig business combination transaction costs | - | - | 0 | 0 |
| Payment of transaction costs for at-the-market offering | 8,284 | - | - | - |
| Payment of debt issuance costs to third parties | 4,679 | 349 | 0 | 0 |
| Issuance of common stock upon espp purchase | 2,379 | 1,367 | 1,176 | - |
| Proceeds from exercise of options | 3,665 | 421 | - | - |
| Payments of tax withholding from the issuance of common stock | 2,145 | - | 2,560 | 67 |
| Distributions to members | - | - | - | 0 |
| Parents contribution | - | - | - | 0 |
| Payments of tax withholding from the issuance of common stock | - | 2,378 | - | - |
| Net cash provided by financing activities | 691,313 | 52,458 | 42,062 | -103,137 |
| Effect of foreign currency rate changes on cash, cash equivalents, and restricted cash | -174 | 424 | - | - |
| Net increase in cash, cash equivalents, and restricted cash | 42,506 | 17,584 | 19,925 | -157,289 |
| Cash, cash equivalents, and restricted cash at the beginning of the period | 50,141 | 32,557 | 12,632 | 169,921 |
| Cash, cash equivalents, and restricted cash at the end of the period | 92,647 | 50,141 | 32,557 | 12,632 |
BigBear.ai Holdings, Inc. (BBAI-WT)
BigBear.ai Holdings, Inc. (BBAI-WT)