BigBear.ai Cuts FY24 Revenue Guidance From $195M - $215M To $165M - $180M, Est $199.009M
Portfolio Pulse from Benzinga Newsdesk
BigBear.ai has revised its FY24 revenue guidance downwards from $195M-$215M to $165M-$180M, which is below the estimated $199.009M. The new projections include results from Pangiam after its acquisition on February 29, 2024.
August 01, 2024 | 9:34 pm
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BigBear.ai has lowered its FY24 revenue guidance to $165M-$180M, down from the previous $195M-$215M, and below the estimated $199.009M. This revision includes the results of Pangiam after its acquisition on February 29, 2024.
The downward revision in revenue guidance is a negative indicator for BigBear.ai's financial performance, likely leading to a short-term decline in stock price. The inclusion of Pangiam's results post-acquisition does not offset the lower guidance.
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