What Happened to BigBear.ai (BBAI) This Year?

BigBear.ai (NYSE: BBAI), a developer of artificial intelligence (AI) modules for edge networks, went public by merging with a special purpose acquisition company (SPAC) in December 2021. It started trading at $9.84, and rallied as high as $12.69 in April 2022. Then it plummeted to an all-time low of $0.63 that December after it broadly missed its own ambitious forecasts.Prior to going public, BigBear.ai predicted its annual revenue would surge from $182 million in 2021 to $550 million in 2024. But in reality, its revenue rose from just $146 million in 2021 to $158 million in 2024 as it grappled with the bankruptcy of its top customer Virgin Orbit, competition from similar AI companies, and macro headwinds for the enterprise software market. CEO Reggie Brothers, who took the top job in 2020, stepped down in late 2022.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool