BigBear.ai's Q1 2026 backlog and gross margin improved, but the deep dive keeps the proof gate on revenue conversion, adjusted EBITDA, and operating cash flow.
References
Sources used in this report
Company releaseBigBear.ai Q1 2026 results release2026-05-05 · Primary source for Q1 revenue, gross margin, backlog, available liquidity, guidance, and management commentary.10-QBigBear.ai Form 10-Q for quarter ended March 31, 20262026-05-05 · Primary source for financial statements, business overview, customer mix, liquidity, debt, adjusted EBITDA reconciliation, and cash-flow detail.10-KBigBear.ai Form 10-K for year ended December 31, 20252026-03-02 · Annual baseline for business description, risk factors, FY2025 revenue, net loss, and operating cash flow.