Northland Securities lowered its fiscal year 2026 earnings per share forecast for BigBear.ai (BBAI) to a loss of $0.36. This represents a significant drop from the previous $0.22 loss estimate. The revision followed BigBear.ai's third-quarter results.
BigBear.ai posted third-quarter revenue of $43.6 million. This marked a 31.5% year-over-year increase, surpassing analysts' expectations. The company reported a net loss of $0.19 per share, missing the consensus estimate of a $0.06 loss. A $76.7 million non-cash goodwill impairment charge primarily drove the quarterly loss.
In response to the earnings, Cantor Fitzgerald cut its price target on the stock to $3.00. This was down from a previous target of $4.00.
Despite the earnings miss and analyst downgrades, BigBear.ai raised its full-year 2026 revenue guidance to a range of $150 million to $165 million. The company cited strong contract momentum. This momentum includes over 25 new wins. These wins are valued at more than $225 million and occurred since the second quarter.