Why BigBear.ai Stock Crashed 20%
Shares of artificial intelligence analytics company BigBear.ai Holdings (NYSE: BBAI) fell hard on Friday morning, down 20% as of 10:10 a.m. ET after the company reported a big fourth-quarter loss last night.
Revenue for the fiscal fourth quarter of 2021 grew 24% year over year to $33.5 million, but BigBear suffered a $1.02 per share loss for the quarter. Management did not provide data on Q4 2020's income, so as to compare that to this year's loss. BigBear did say that its gross profit margin declined to 11% in Q4.
For all of fiscal 2021, BigBear said its revenue was $145.6 million, up 59.5% from fiscal 2020, with a 23% gross profit margin. That wasn't enough to give BigBear a profit on the bottom line, however. Losses for the full year were $1.15 per share, and $123.6 million in total, versus only a $2.5 million net loss for 2020. (Management did not provide a per-share loss figure for 2020).
Source Fool.com
