Summary by Moomoo AI
BigBear.ai Holdings reported a significant increase in revenue for the third quarter of 2024, with revenues rising 22.1% to $41.5 million compared to $34 million in the same period of 2023. The company's cost of revenues also increased by 20.2%, resulting in a gross margin of $10.8 million, up from $8.4 million year-on-year. However, BigBear.ai experienced a net loss of $12.2 million for the quarter, compared to a net income of $4 million in the previous year. The loss was attributed to various factors, including a substantial increase in research and development expenses, which surged by 1194.6% to $3.8 million, and a goodwill impairment charge of $85 million recognized during the nine months ended September 30, 2024.
In terms of business development, BigBear.ai completed the acquisition of Pangiam Intermediate...Show More
