Author: Mary-Louise Hoffman|| Date Published: August 11, 2023
Artificial intelligence company BigBear.ai(NYSE: BBAI) posted a 2 percent year-over-year revenue increase for the second quarter of 2023 and booked two key contracts from the U.S. Army during the quarter.
Sales in the April-June period totaled $38.5 million, compared to $37.6 million a year earlier, while backlog as of June 30 stood at $206 million, up 5 percent quarter-on-quarter, BigBear.ai said Tuesday.
Bookings for the period included a $7.7 million contract to implement the second phase of a mission management platform for the U.S. Army Test and Evaluation Command and an $8.5 million Army award to continue the development of a global force data management tool.
Mandy Long, CEO of BigBear.ai, said the two contracts serve as “evidence that we have momentum in the markets we serve.”
The Columbia, Maryland-based company’s 2023 guidance forecasts full-year revenue of between $155 million and $170 million.
Hear BigBear Chief Technology Officer Theodore Tanner share his in-depth perspective on pursuing trusted AI systems at ExecutiveBiz’s Sept. 12 in-person event, themed “Trusted AI and Autonomy.” Register for this timely event here.
Brian Meyer, federal field chief technology officer at Axonius Federal, said cybersecurity asset management could help government agencies make dozens…
“Technology transformation company Red River has acquired Invictus International Consulting to expand its cybersecurity and enterprise modernization capabilities to support…
Synergy ECP, a software engineering, cybersecurity and systems engineering services provider, has acquired NetServices, a company offering secure, mission-focused technology services. The…
Precision Aerospace & Defense Group and FACT II Acquisition, a special purpose acquisition company, have signed a definitive business combination agreement to…
LMI has announced the acquisition of intellectual property and advanced capabilities to broaden its in-transit visibility and asset tracking services for…
