BigBear.ai (BBAI) Q2 2026: Revenue Beat, EPS Miss, and What's Next
As seen on the 24/7 Wall St. homepage on July 30, 2026.
BigBear.ai beat revenue estimates on 13% year-over-year growth fueled by its Ask Sage GenAI acquisition, which also expanded gross margin 781 basis points, but the EPS miss and widening adjusted EBITDA loss signal integration costs are eating into profitability even as the backlog grew 9% to $269.6 million. CEO Kevin McAleenan flagged potential headwinds from the new DOGE initiative and federal spending shifts, though the company reaffirmed full-year revenue guidance of $135 million to $165 million.
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BigBear.ai cleared the revenue bar in Q2 2026, reporting $36.7 million against an estimate of $36.4 million — a roughly 1% beat — on the back of 13% year-over-year growth. The Ask Sage GenAI acquisition was the primary engine behind that top-line expansion, and it also widened gross margin by 781 basis points, a meaningful improvement for a company still working toward consistent profitability.
The earnings picture was less encouraging. BigBear.ai posted a loss of $0.05 per share versus the consensus estimate of -$0.045, an 11% miss. The adjusted EBITDA loss widened as well, a signal that integrating Ask Sage is carrying real costs. That pattern echoes a volatile recent EPS history: the company swung from a -$0.71 reported loss in Q2 2025 to a rare penny of profit in Q3 2025, before slipping back into the red.
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On the outlook, management reaffirmed full-year revenue guidance of $135 million to $165 million, providing some reassurance that deal momentum is intact. CEO Kevin McAleenan did flag potential headwinds from the DOGE initiative and shifts in federal spending priorities — notable risks for a company whose business is closely tied to government contracts. The contract backlog grew 9% to $269.6 million, which offers a degree of forward visibility even as near-term profitability questions linger.
Mentioned: BBAI