BigBear ai Holdings Inc (BBAI)

[StockLogistics]

“Ending backlog of $288 million -- Ending cash balance of $22 million -- On-track with planned cost savings initiatives expected to drive $20 million of annualized operating expense savings -- Affirmed 2022 financial outlook

Mandy Long, who joined BigBear.ai in October as the Company's CEO, said, "In the third quarter, we made significant progress to improve our financial profile, including 8% revenue growth in our analytics business, with a key $14.8 million sole-source contract award from the U.S. Army to implement the Global Force Information Management (GFIM) system. In addition, our ongoing actions to reduce expenses and cash usage are helping move us to a sustainable growth model. Based on our improved operational efficiency and the continued health of our backlog, we are reaffirming our outlook for 2022.”