BigBear.ai Increases Presence in US Border Infrastructure with DEN Deployments

BigBear.ai is playing a growing role in America’s digital border control infrastructure. The company has announced that its veriScan system is now being used in 14 international departure gates at Denver International Airport (DEN).

The system’s primary function is to capture and transmit a traveler’s image to U.S. Customs and Border Protection (CBP) during the boarding process, ensuring proper identification of individuals in high-security settings. veriScan has previously been deployed at Dallas Fort Worth International Airport, and is also supporting the CBP’s Enhanced Primary Processing (EPP) initiative at the Canada Place cruise terminal in Vancouver.

“We are thrilled to see positive results early on from the implementation of veriScan at Denver International Airport,” said BigBear.ai President Kevin McAleenan. “I applaud DEN for their dedication to focus on security protocols using innovative technologies across 13 airlines.”

BigBear.ai was founded in 2008 and is headquartered in Columbia, Maryland. The company specializes in delivering decision intelligence solutions powered by artificial intelligence, focusing on sectors such as government and defense, manufacturing and warehouse operations, and healthcare and life sciences.

In December 2021, BigBear.ai became a public company through a reverse merger with a special purpose acquisition company (SPAC) called GigCapital4. The transaction resulted in BigBear.ai being listed on the New York Stock Exchange under the ticker symbol BBAI.

The company has faced challenges in meeting its initial growth targets set during its pre-merger presentation. Its actual revenue figures have consistently fallen short of forecasts, which the company has attributed to various factors including macro headwinds, competitive challenges, and the bankruptcy of a major customer, Virgin Orbit, in 2023.

That having been said, BigBear.ai has been working to improve its financial position. In the second half of 2023, the company reported positive adjusted EBITDA and became cash flow positive for the first time since going public.

In February of this year, BigBear.ai completed the acquisition of Pangiam Intermediate Holdings, LLC, a major player in technology supporting global trade, travel, and digital identity industries. The all-stock transaction was aimed at expanding BigBear.ai’s capabilities in facial recognition, image-based anomaly detection, and advanced biometrics.

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October 28, 2024 – by Alex Perala and Cass Kennedy