BigBear.ai Stock Tumbles on Weak Results. It’s Been an AI Favorite This Year.
< 1 min
BigBear.ai shares are down sharply in late trading Thursday after the AI software provider posted weaker-than-expected revenue for its fourth quarter.
BigBear shares, which been rallied 75% so far this year, are down 21% in late trading, to $3.06.
For the quarter, BigBear reported revenue of $40.6 million, up 0.5% from a year ago and below the Wall Street consensus forecast of $42.8 million.
The company posted adjusted Ebitda, or earnings before interest, taxes, depreciation and amortization, of $3.7 million. BigBear noted that it was its second straight quarter of profitability on that basis.
BigBear recorded a net loss for the quarter of $21.3 million, or 14 cents a share.
For 2024, BigBear is projecting revenue of between $195 million and $215 million, which is above the Street consensus of $174 million, but it’s not clear that the figures are comparable. The company last week completed the acquisition of Pangiam, a provider of AI-based vision systems, for $70 million in stock.
In a letter to shareholders, CEO Mandy Long said the company is not providing adjusted Ebitda guidance for the full year, “as we focus on the critical first steps of integrating Pangiam, and want to reinforce our commitment to moving the business forward and unlocking efficiencies of scale.”
Wall Street has been expecting adjusted Ebitda for 2024 of $7 million, according to estimates tracked by FactSet.
Copyright 2020, Dow Jones & Company, Inc. All Rights Reserved Worldwide. LEARN MORE
Margot Robbie and Jacob Elordi star in an adaptation of the classic novel that respects the romance’s slow burn.
High-end homeowners are choosing to upgrade rather than relocate, investing in bespoke design, premium finishes and long-term lifestyle value.
The social-media company’s revenue increased 14%, falling short of estimates.
2 min
Pinterest shares tumbled after the company projected that revenue growth would slow in the first quarter, amid an advertiser pullback that weighed on its fourth-quarter earnings.
Shares slid 18.5% to $15.10 in after-hours trading after closing the market session down 2.9% at $18.54.
Pinterest reported a 14% increase in fourth-quarter revenue to $1.32 billion, up from $1.15 billion a year earlier, but short of analysts’ estimate of $1.33 billion, according to FactSet. The company posted 17% revenue growth in the third quarter.
The company expects growth to decelerate further in the current first quarter, projecting growth between 11% and 14%. It’s forecasting revenue between $951 million and $971 million.
Chief Executive Officer William Ready said the company needs to broaden its revenue mix and accelerate sales going forward.
“We are not satisfied with our Q4 revenue performance and believe it does not reflect what Pinterest can deliver over time,” he told analysts on a call Thursday. “We are moving with urgency to return over time to the mid-to-high-teens growth, or better than what we have been consistently delivering.”
Pinterest on Thursday recorded a profit of $277.1 million, or 41 cents a share, compared with its profit of $1.85 billion, or $2.68 a share, a year earlier. The $1.85 billion profit in 2024 included a $1.6 billion benefit from deferred tax assets.
Stripping out certain one-time items, Pinterest logged adjusted earnings of 67 cents a share, in line with analyst expectations, according to FactSet.
Ready said the company continues to see headwinds from larger retailers pulling back on advertising spending to protect their margins amid the impact from President Trump’s tariffs.
“We saw continued softness from this cohort of large retailers,” Ready said. “While we see opportunity over the long term, the near-term outlook for this cohort on our platform remains pressured given these headwinds.”
Ready said the company has expanded its footprint among mid-market and small-to-medium business advertisers, as well as international businesses. Still, he said Pinterest had a ways to go to offset the headwinds from larger advertisers, which may become even more pronounced in the current quarter.
Chief Financial Officer Julia Donnelly added that the company is looking to increase its investments in sales and research and development related to artificial-intelligence following the launch of its restructuring effort in January. Pinterest said last month that it would cut about 15% of its workforce, or approximately 700 jobs.
French luxury-goods giant’s results are a sign that shoppers weren’t splurging on its collections of high-end garments in the run-up to the holiday season.
From farm-to-table Thai to fairy-lit mango trees and Coral Sea vistas, Port Douglas has award-winning dining and plenty of tropical charm on the side.
