Companies /Industrials

Bridger Aerospace Group Holdings Inc - Class A

NASDAQ: BAER Security & Protection Services
$0.79
▼ $0.04 (−4.43%) today
Markets closed · 7:06pm ET

Q4 2025 Earnings

Reported Mar 5, 2026, 4:04pm ET · SEC source
$-0.40
Miss −33.33%
EPS · est. $-0.30
$8.5M
Beat +31.49%
Revenue · est. $6.5M
−7.4%
Trailing market
BAER vs S&P since report
3 quarters
Consecutive EPS misses

Market Reaction

% change · around the report
0+5%+10%+15%Mar 5Mar 6report 4:04pm ETearnings−1.4%+1.4%
0+5%+10%+15%Mar 5Mar 6earnings−1.4%+1.4%
BAER +1.4%S&P 500 −1.4%
0+5%+10%+15%Mar 5Mar 6report 4:04pm ETearnings−1.6%+1.4%
0+5%+10%+15%Mar 5Mar 6earnings−1.6%+1.4%
BAER +1.4%NASDAQ −1.6%
−21%−14%−7%0Mar 4Mar 13report 4:04pm ETearnings−2.8%−20.3%
−21%−14%−7%0Mar 4Mar 13earnings−2.8%−20.3%
BAER −20.3%S&P 500 −2.8%
−21%−14%−7%0Mar 4Mar 13report 4:04pm ETearnings−2.6%−20.3%
−21%−14%−7%0Mar 4Mar 13earnings−2.6%−20.3%
BAER −20.3%NASDAQ −2.6%
−6.02%
Day of report
−5.77%
Next session
−12.39%
One week
−10.68%
30 days

S&P 500 over the same 30 days: −3.24%.

Did BAER Beat Earnings? Q4 2025 Results

Bridger Aerospace Group delivered a tale of two timeframes in its Q4 2025 results, with a strong full-year performance overshadowed by a sharply disappointing final quarter. The aerial firefighting company posted Q4 revenue of $8.55 million, missing the $13.50 million consensus estimate by 36.69% and falling 45.4% from the year-ago period, while EPS came in at $-0.40, missing the $-0.26 consensus by 53.85%. The primary culprit was the timing of Super Scooper deployments and lower return-to-service revenue from the MAB partnership, factors that compressed quarterly results even as the full-year picture told a markedly different story. For all of 2025, revenue grew 25% to $122.83 million and the company achieved its first-ever positive net income of $4.14 million, reversing a $15.57 million loss in 2024. Looking ahead, management initiated 2026 guidance projecting revenue of $135 million to $145 million with Adjusted EBITDA of $55 million to $60 million, supported by fleet expansion and a recently secured five-year federal contract in Alaska adding further contract depth to the business.

Key Takeaways
  • Increased activity for Super Scoopers and surveillance aircraft in 2025
  • Growing customer emphasis on early detection driving increased prepositioning and enhanced fleet utilization
  • Longer-term contracts providing revenue stability
  • Growing diversification of revenue stream
  • Revenue from return-to-service work on Spanish Super Scoopers under MAB partnership ($14.0 million in FY 2025)
  • Record performance achieved despite statistically below-average wildfire year

“Our record financial performance in 2025, during a statistically below-average fire year, underscores the strength of our business model, growing diversification of our revenue stream and the benefits of longer-term contacts for our aircraft.”

Bridger Aerospace Group CEO, on the earnings call

Forward Guidance & Outlook

Bridger initiated 2026 guidance with revenue expected between $135 million and $145 million, representing 14% growth at the midpoint of the range and 29% growth when excluding non-recurring return-to-service work on the Spanish Scoopers in 2025. Adjusted EBITDA is expected in the range of $55 million to $60 million, representing growth of 27% at the midpoint. The outlook reflects the addition of four air surveillance aircraft and the first two Spanish Scoopers to the fleet.

BAER YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$-9,000,000$0$9.0M$15.6M$8.5MRevenue$-14,779,512$-15,149,000Net Income
$-9,000,000$0$9.0MRevenueNet Income

BAER Revenue by Segment

Aerial Firefighting Services (excluding MAB return-to-service)

Figures from SEC filings and company reports. Not investment advice.