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November 10 , 2021 ✓ BigBear.ai BigBear.ai Announces Third Quarter 2021 Financial Results • Record quarterly revenue of $ 40.2 million for the three months ended September 30 , 2021 • Revenue for the first nine months of 2021 of $ 112.1 million • Business Combination with GigCapital4 on track to close in early December 2021 COLUMBIA , Md .-- ( BUSINESS WIRE ) -- BigBear.ai , a leading provider of artificial intelligence ( " AI " ) , machine learning , cloud - based big data analytics , and cyber engineering solutions , today announced financial results for the three months ended September 30 , 2021 . " BigBear.ai continues to build strong momentum through expanded customer engagements , additional contract awards , and additional investments aimed at accelerating commercial penetration , " said Dr. Reggie Brothers , BigBear.ai Chief Executive Officer . “ Our record third quarter revenue of $ 40.2 million represents an increase of approximately $ 4 million , or approximately 11 % , over the second quarter of 2021 , and reflects our recent contract wins . Additionally , as the timing difference between our investments and the resulting revenue growth has continued to settle , we saw considerable EBITDA growth in the quarter . ” Dr. Brothers continued , " We are on track for the completion of our business combination with GigCapital4 and listing on the New York Stock Exchange later this year . This will enable us to further accelerate growth and ensure we are well positioned to meet increasing demand from companies across virtually all verticals that need to optimize massive amounts of data to enable better decision making . " Third Quarter and Financial Highlights • Revenue of approximately $ 40.2 million in the third quarter of 2021 and approximately $ 112.1 million in the first nine months of 2021 • Gross margin of about 27 % in the third quarter and year - to - date Segment adjusted gross margin of 49 % for the Analytics segment and 21 % for the Cyber & Engineering segment in the third quarter , and 48 % and 22 % , respectively , year - to - date • Year - to - date net loss of approximately $ 8.8 million reflecting a timing difference between the company's investments through the period and the previously disclosed delay in revenue / contract awards as a result of COVID • Non - GAAP adjusted EBITDA * of approximately $ 3.9 million in the third quarter and approximately $ 7.2 million year - to - date * Refer to the " Non - GAAP Financial Measure and Related Information " section in this press release .