BigBear.ai slumps after Q4 revenue miss

Ai Holdings

08/03/2024 10:41

** Shares of artificial intelligence (AI) firm BigBear.ai
Holdings  BBAI.N  down 17.3% to $3.1 premarket 
    ** BBAI reports Q4 revenue of $40.6 mln, below estimates of
$42.75 mln, per LSEG data 
    ** However, co forecasts FY2024 revenue of $195 mln-$215
mln, above estimates of $185.7 mln, per LSEG data
    ** "With the completion of the Pangiam acquisition and
incremental cash proceeds of $54 million from warrants exercised
in Q1 2024, we are well positioned for healthy growth in the
year ahead,"- BBAI
    ** Other AI-related stocks Nvidia  NVDA.O , Arm Holdings
 ARM.O , SoundHound AI  SOUN.O  and Super Micro Computer
 SMCI.O  up 1.2%-6.2% premarket
    ** BBAI stock more than tripled in 2023 and is up ~76% YTD
as of last close

 (Reporting by Pranav Kashyap in Bengaluru)
 ((Pranav.Kashyap@thomsonreuters.com;))