BigBear.ai Revenue Rises 13% as Backlog Reaches $269.6M

BigBear.ai reported revenue of $36.7 million for the second quarter of 2026, representing a 13 percent increase from $32.5 million in the corresponding period last year.

The artificial intelligence and biometric technology provider also reported a backlog of $269.6 million as of June 30. That figure was nine percent higher than its backlog at the end of 2025.

Quarterly gross margin increased to 32.8 percent, compared with 25 percent a year earlier. BigBear.ai attributed both the revenue growth and the margin improvement to increased volume from Ask Sage, its higher-margin generative AI platform and product business.

The company remained unprofitable, recording a net loss of $25.7 million. That was considerably narrower than the $228.6 million loss reported in the second quarter of 2025, although the earlier result included substantial noncash charges associated with changes in the fair value of derivatives and goodwill impairment.

Adjusted EBITDA was negative $11.6 million, compared with negative $8.5 million a year earlier. Selling, general, and administrative expenses rose from $21.5 million to $31.8 million, while research and development expenses also increased.

BigBear.ai continues to operate a significant portfolio of identity, border-management, and passenger-processing technologies through Pangiam, which it acquired in 2024. That portfolio includes veriScan, a facial biometric platform used to automate identity checks during passenger processing.

Last year, the company announced Enhanced Passenger Processing deployments at 12 airports and ports of entry in the United States and Canada. The technology is intended to streamline the processing of eligible U.S. citizens arriving at international airports and other ports of entry.

BigBear.ai later deployed the system at Nashville International Airport’s International Arrivals Facility. The system captures a live facial image and compares it with existing government records, allowing eligible U.S. citizens to complete customs processing without presenting a physical passport unless they are referred to an officer.

The company reported $409.8 million in available cash and investments at the end of the quarter. It maintained full-year revenue guidance of between $135 million and $165 million and said it had secured more than 20 new contract wins during the quarter.

The results show improved revenue and gross-margin performance, but the widening adjusted EBITDA loss indicates that the company has not yet reached sustainable profitability. Its cash and investment position and growing backlog provide financial flexibility as it continues investing in generative AI, defense technology, and biometric infrastructure.

Sources: BigBear.ai Second-Quarter Results, BigBear.ai Port Deployments, BigBear.ai Nashville Deployment

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By the ID Tech Editorial Team