BAER (Bridger Aerospace Group Holdings, Inc. Common Stock) Stock Financials & Earnings | Market Cap Arena

BAER (Bridger Aerospace Group Holdings, Inc. Common Stock) Stock Financials & Earnings | Market Cap Arena

BAERBridger Aerospace Group Holdings, Inc. Common Stock

Mkt Cap$116M

Industrials·Security & Protection Services·🇺🇸 United States·NASDAQ

Revenue (TTM)$123M

Net Income (TTM)$4M

EPS (TTM)-$0.42

Free Cash Flow (TTM)-$64M

Gross Margin42.1%

Op. Margin12.5%

Net Margin3.4%

FCF Margin-52.3%

P/S Ratio (TTM)0.9x

P/E Ratio (TTM)28.1x

YoY Rev Growth+24.6%

Employees—

Earnings Reports

Next: Q1 2026 · Mar 12

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$365K	-$7M	-$40M
Q2 23	$12M	$1M	-$14M
Q3 23	$54M	$38M	$23M
Q4 23	$1M	-$7M	-$26M
Q1 24	$6M	-$4M	-$15M
Q2 24	$13M	$3M	-$5M
Q3 24	$65M	$42M	$33M
Q4 24	$16M	$184K	-$7M
Q1 25	$16M	-$2M	-$10M
Q2 25	$31M	$12M	$6M
Q3 25	$68M	$47M	$39M
Q4 25	$9M	-$6M	-$19M

Valuation

Quarter	P/S	P/E
Q1 23	2.5x	—
Q2 23	2.5x	—
Q3 23	1.7x	—
Q4 23	1.7x	—
Q1 24	1.6x	—
Q2 24	1.6x	—
Q3 24	1.4x	—
Q4 24	1.2x	—
Q1 25	1.1x	—
Q2 25	0.9x	—
Q3 25	0.9x	18.0x
Q4 25	0.9x	28.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$37M	-$48M
Q2 23	-$17M	-$18M
Q3 23	$12M	$9M
Q4 23	$15M	$12M
Q1 24	-$23M	-$24M
Q2 24	-$3M	-$4M
Q3 24	$23M	$22M
Q4 24	$9M	$8M
Q1 25	-$18M	-$21M
Q2 25	$1M	$515K
Q3 25	$41M	$35M
Q4 25	-$8M	-$78M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$11M
Q2 23	$1M
Q3 23	$3M
Q4 23	$3M
Q1 24	$957K
Q2 24	$1M
Q3 24	$1M
Q4 24	$1M
Q1 25	$3M
Q2 25	$926K
Q3 25	$6M
Q4 25	$70M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+426.8%	+256.0%
Q2 23	-8.9%	+69.5%
Q3 23	+65.2%	+1.2%
Q4 23	-0.4%	+128.5%
Q1 24	+1408.8%	-48.6%
Q2 24	+12.0%	-30.9%
Q3 24	+20.3%	+2.0%
Q4 24	+1306.3%	-14.5%
Q1 25	+184.1%	+23.9%
Q2 25	+136.3%	+42.0%
Q3 25	+5.2%	-8.8%
Q4 25	-45.2%	+19.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$7M	12.3%
Q4 23	$9M	825.2%
Q1 24	$0	0.0%
Q2 24	$4M	34.4%
Q3 24	$0	0.0%
Q4 24	$2M	15.7%
Q1 25	$2M	12.7%
Q2 25	$2M	5.6%
Q3 25	$0	0.0%
Q4 25	$2M	26.5%

OpEx Breakdown

Quarter	SG&A
Q1 23	$33M
Q2 23	$15M
Q3 23	$15M
Q4 23	$19M
Q1 24	$12M
Q2 24	$7M
Q3 24	$9M
Q4 24	$8M
Q1 25	$9M
Q2 25	$7M
Q3 25	$8M
Q4 25	$13M

Revenue Segments

Quarter	Other Revenue	Reportable Segment
Q1 23	$365K	—
Q2 25	—	$31M
Q3 25	—	$68M

Revenue by Geography

Quarter	Spain	United States
Q1 25	$6M	$10M
Q2 25	$5M	$26M
Q3 25	$2M	$66M
Q4 25	$850K	$8M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$2M	$30M	$33M
Q2 23	$845K	$13M	$13M
Q3 23	$19M	$2M	$22M
Q4 23	$23M	$1M	$24M
Q1 24	$7M	$0	$7M
Q2 24	$9M	$0	$9M
Q3 24	$33M	$573K	$34M
Q4 24	$39M	$1M	$40M
Q1 25	$22M	$0	$22M
Q2 25	$17M	$0	$17M
Q3 25	$55M	$0	$55M
Q4 25	$31M	$0	$31M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	74M	+140.2%
Q2 23	45M	-38.8%
Q3 23	79M	+73.8%
Q4 23	46M	-41.4%
Q1 24	48M	+2.9%
Q2 24	48M	+1.5%
Q3 24	88M	+82.0%
Q4 24	53M	-39.5%
Q1 25	54M	+1.2%
Q2 25	54M	+0.1%
Q3 25	54M	+0.4%
Q4 25	55M	+1.2%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 20	—	—
FY 21	—	—
FY 22	$279K	166
FY 23	$451K	148
FY 24	$516K	191
FY 25	$523K	235