Bridger Aerospace Group Holdings Inc - Class A

Bridger Aerospace Group delivered a standout first quarter, posting revenue of $15.65 million that eclipsed the $6.00 million consensus estimate by 160.77% and nearly tripled year-over-year growth of 184.1%, even as its net loss of $0.41 per diluted share fell short of the breakeven consensus. The headline driver was the earliest-ever deployment of the company's Super Scooper fleet, dispatched to California in January and later to Oklahoma and North Carolina, a pattern that underscores the growing reality of year-round wildfire activity reshaping what was once a heavily seasonal business. Revenue was further supported by $5.90 million tied to return-to-service work on Spanish Super Scoopers under the MAB Funding partnership and roughly $1.90 million from the mid-2024 acquisition of Flight Test and Mechanical Solutions. Despite the revenue surge, cost pressures from those same initiatives pushed gross profit into negative territory, though net loss narrowed to $15.54 million from $20.09 million a year ago. Management reiterated full-year 2025 guidance of $105 million to $111 million in revenue and $42 million to $48 million in Adjusted EBITDA, citing lengthening fire seasons and new contracts including a five-year, $20.10 million agreement with the U.S. Department of the Interior.