BigBear.Ai Inc (NYSE:BBAI) shares are climbing Tuesday. The company said it has landed more than $225 million in new government work since July. Here’s what you should know.
- BigBear.ai Holdings shares are trending higher. What’s pushing BBAI stock higher?
BigBear.Ai Announces More Than $225 Million in Awards
BigBear.Ai has secured more than $225 million in contract awards since July. Customers range from homeland security and defense agencies to intelligence and civilian federal offices.
BigBear.Ai, which builds mission-ready AI for security and defense, said the total blends fresh contracts with renewals won in recompetes. The company noted that it’s putting its growth efforts into the National Security and Trade & Travel markets.
CEO Kevin McAleenan said the awards prove a “strong foundation and an expanding customer base.” In McAleenan’s view, technology turns into capability only with operational insight, and the winners are customers who grasp both the depth of BigBear.Ai’s experience and its distinctive technology.
Two significant recompetes, won alongside SAIC and Unissant, keep BigBear.Ai on U.S. Customs and Border Protection (CBP) work.
BigBear.Ai also added the FBI as a new federal law enforcement customer and the U.S. Coast Guard as a new domestic security customer. Combatant commands, including U.S. Central Command and U.S. Southern Command, signed on as well, and new classified awards support intelligence customers.
Generative AI Wins Span FBI, NASA and the Coast Guard
Among the awards are more than 25 new generative AI contracts with federal agencies, such as the FBI, NASA, the Coast Guard, the Department of Energy and the Department of Veterans Affairs. Teams at these agencies rely on BigBear.Ai’s generative AI platforms and products to reach the newest models and agentic tools securely.
Demand is still growing across defense, intelligence and civilian agencies, including in disconnected and air-gapped settings, the company said.
BBAI Shares Are Rising
BBAI Price Action: BigBear.Ai shares were up 5.22% at $2.42 at the time of publication on Tuesday. The stock is trading near its 52-week low of $2.27, according to Benzinga Pro.
Image: PJ McDonnell/Shutterstock
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