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Where the tokens are
Standardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q2 FY262026-06-30 | Q1 FY262026-03-31 | Q4 FY252025-12-31 | Q3 FY252025-09-30 | Q2 FY252025-06-30 | Q1 FY252025-03-31 | Q4 FY242024-12-31 | Q3 FY242024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $36.75M | $34.44M | $27.30M | $33.14M | $32.47M | $34.76M | $43.83M | $41.51M |
| Cost of revenue | $24.70M | $22.71M | $21.75M | $25.71M | $24.36M | $27.37M | $27.42M | $30.74M |
| Gross profit | $12.05M | $11.72M | $5.55M | $7.43M | $8.11M | $7.39M | $16.41M | $10.77M |
| Gross margin | 32.8% | 34.0% | 20.3% | 22.4% | 25.0% | 21.3% | 37.4% | 25.9% |
| Research and development | $7.56M | $5.53M | $4.82M | $3.38M | $4.39M | $4.17M | $2.33M | $3.82M |
| Selling, general and administrative | $31.85M | $29.23M | $25.66M | $25.26M | $21.49M | $22.73M | $22.24M | $17.49M |
| Operating expenses | $40.83M | $35.99M | $156.71M | $29.29M | $98.25M | $28.88M | $109.55M | $21.31M |
| Operating income | −$28.78M | −$24.27M | −$151.16M | −$21.86M | −$90.14M | −$21.49M | −$93.14M | −$10.54M |
| Operating margin | -78.3% | -70.5% | -553.7% | -66.0% | -277.6% | -61.8% | -212.5% | -25.4% |
| EBITDA | −$20.78M | −$15.97M | −$20.70M | −$17.07M | −$14.15M | −$16.32M | −$5.04M | −$7.15M |
| Interest income | $3.82M | $3.79M | $13.25M | — | $1.70M | $556.00K | $2.29M | — |
| Interest expense | −$266.00K | −$317.00K | −$3.98M | −$4.60M | −$2.14M | −$5.12M | −$6.26M | −$6.55M |
| Income before taxes | −$25.74M | −$56.75M | −$27.61M | $2.54M | −$228.61M | −$61.96M | −$138.46M | −$15.11M |
| Income taxes | $5.00K | $14.00K | −$21.78M | $17.00K | $14.00K | $25.00K | −$278.00K | $21.00K |
| Net income | −$25.75M | −$56.76M | −$5.83M | $2.52M | −$228.62M | −$61.99M | −$138.18M | −$15.14M |
| Net margin | -70.1% | -164.8% | -21.4% | 7.6% | -704.0% | -178.3% | -315.3% | -36.5% |
| EPS, basic | −$0.05 | −$0.12 | −$0.01 | $0.01 | −$0.71 | −$0.25 | −$0.55 | −$0.06 |
| EPS, diluted | −$0.05 | −$0.12 | −$0.01 | −$0.03 | −$0.71 | −$0.25 | −$0.55 | −$0.06 |
| Diluted shares | 479.12M | 473.06M | 414.11M | 448.16M | 320.59M | 252.34M | 250.88M | 249.95M |
Figures describe BigBear.ai Holdings shares, not any token. As of Jul 30, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.