BigBear.ai Shares Plunge Over 17% Following Steep Q2 Loss

(RTTNews) - BigBear.ai Holdings, Inc. (BBAI) tumbled 17.14 percent to $5.88, down $1.22 on Tuesday, after posting disappointing second-quarter results.

Revenue fell 18 percent to $32.5 million from $39.8 million a year ago, mainly due to lower volumes on certain Army programs.

Net loss widened sharply to $228.6 million from $14.4 million, driven by a $135.8 million non-cash change in derivative liabilities tied to convertible notes and warrants, and a $70.6 million non-cash goodwill impairment charge. The stock opened at $4.85 and traded between $4.75 and $5.69, with a heavy volume of 155.46 million shares compared to an average of 133.16 million, on the New York Stock Exchange.

BigBear.ai's 52-week range is $1.21 to $10.36.