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Thursday, May 19, 2022

BigBear.ai Holdings Inc (BBAI) stock plunged in the after-market. Here’s why

BigBear.ai Holdings Inc (BBAI) stock was down by 24.49% in the after-hours, during the last check. The stock price followed a bearish trend after the company declared its financial performance for the last quarter of the fiscal year 2021. BigBear Inc also declared to exhibit its honor-winning innovation.


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During the recent session, the stock of BBAI remained bearish and lost 1.89% from the previous session. BBAI closed the regular trading session at $8.29. On the last check, BBAI stock was trading at a price of $6.26 in the after-hours.

BigBear ai Holdings Inc is an organization working in the IT administrations industry. The organization is a supplier of artificial intelligence (AI), machine learning (MI), cloud-based enormous information investigation, and digital designing arrangements. The firm operationalizes computerized reasoning and AI through its data analytics stage. BBAI has a market cap of $1.12 billion. Also, BBAI headquarters are in Columbia, Maryland, USA.

BBAI News

On 9 March 2022, the firm declared to exhibit its technology which is used in space, intelligence, logistics, and other commercial sectors. BigBear Inc will exhibit this technology at a forthcoming event. The company chiefs will look at fundamental issues in data assessment and online assurance in a panel discussion. The board will likewise address cybersecurity safety, the role of China, global collaboration, and contests in space.

Moreover, the company also declared the employments of Todd Hughes as Senior Vice President of Technology and Research, and Dan Jones as a Senior Vice President of Products. The CTO of BigBear.ai commented that they are certain that Todd and Dan’s broad initiative and innovation experience will assist them with conveying adaptable AI-driven answers for a developing client base. They are excited to invite them to the group.

Financials

BigBear.ai Inc reported the financial results for the last quarter of FY21. The main points of the results are

  • The company had revenue of $33.4 million in Q4 of FY21. Also, BBAI reported the revenue for FY21 to be $145.5 million.
  • Moreover, BBAI’s total loss in the last quarter of FY21 was $114.7 million. While the total loss in FY21 was $123.5 million.
  • Besides, the firm reported the loss of $1.02 per stock in Q4 of FY21 and the loss of $1.15 per stock in FY21.

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