Insider Brief
- BigBear.ai (NYSE: BBAI), a security and defense AI company, has secured more than $225 million in total potential contract value since July across homeland security, defense, intelligence and federal civilian customers, including both new wins and recompetes.
- The awards include more than 25 new generative AI contracts with agencies such as the FBI, NASA, the U.S. Coast Guard, the Department of Energy and the Department of Veterans Affairs, along with new work for U.S. Central and Southern Command, classified intelligence customers, and two retained recompetes with CBP.
- CEO Kevin McAleenan said keeping critical CBP work while adding new law enforcement, defense and intelligence customers reflects a strong foundation and growing customer base; the company noted its total backlog stood at about $270 million as of June 30, 2026, with roughly 29% funded.
PRESS RELEASE — BigBear.ai (NYSE: BBAI), a specialized security and defense technology company providing mission-ready AI, announced it has secured more than $225 million1 in contract awards since July across homeland security, defense, intelligence and federal civilian customers. The awards represent both new wins and successful recompetes in the core of BigBear.ai’s business, which is focused on expanding in the National Security and Trade & Travel markets.
“Retaining critical work with CBP while adding the FBI, the Coast Guard and new defense and intelligence customers is proof of a strong foundation and an expanding customer base,” said Kevin McAleenan, CEO of BigBear.ai. “Technology does not translate into capability without operational insight, and these awards come from customers who understand both the depth of our experience and our differentiated technology.”
As part of these wins, BigBear.ai won more than 25 new generative AI awards across federal agencies, including the FBI, NASA, the U.S. Coast Guard, the Department of Energy and the Department of Veterans Affairs. Customer teams use BigBear.ai’s generative AI platforms and products for secure access to the latest generative AI models and agentic tools, with the choice of available models from leading AI and cloud providers, and demand continues to grow across defense, intelligence and civilian agencies, including in disconnected and air-gapped environments.
In addition to winning new customers in federal law enforcement with the FBI and domestic security with the U.S. Coast Guard, new contracts across the totality of the BigBear.ai business include combatant commands such as U.S. Central Command and U.S. Southern Command, and new classified awards supporting intelligence customers.
Strengthening the core of its business, BigBear.ai will continue helping CBP ensure the safe and secure movement of travelers and cargo across U.S. borders. Winning two significant recompetes with two different teams for the same customer reflects BigBear.ai’s record of delivery for CBP.
Across these customers, the common thread is helping operators in government and commercial organizations make consequential decisions in specialized operating environments, from customs officers choosing which shipment to inspect to analysts working in classified facilities and businesses supporting critical infrastructure. BigBear.ai’s technology is built by operators, for operators, helping customers make decisions faster and with more confidence.
1Total contract value (“TCV”) represents the total potential value of the awards, including unexercised options and ceiling values, and does not necessarily reflect funded amounts. For U.S. government contracts, TCV generally exceeds the amount currently funded, because government customers typically fund contracts incrementally as appropriations become available, and option periods are exercisable at the government’s sole discretion. In addition, U.S. government contracts are generally subject to termination for the convenience of the government, as well as reductions in scope, funding delays and other modifications. As a result, the amount and timing of revenue BigBear.ai ultimately realizes from these awards may differ materially from the TCV presented.
For additional information, including BigBear.ai’s definition of backlog, see its most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the SEC. As of June 30, 2026, BigBear.ai’s total backlog was approximately $270 million, of which approximately 29% was funded.
About BigBear.ai
BigBear.ai is a specialized security and defense technology company providing mission-ready AI. Focused on National Security and Trade & Travel, we build and deploy AI-powered technology, solutions, and services to deliver enduring strategic advantage for the United States, its allies and partners, and critical industries. Headquartered in McLean, Virginia, BigBear.ai is a public company traded on the NYSE under the symbol BBAI. For more information, visit https://bigbear.ai/.
Forward-Looking Statements
This release contains forward-looking statements regarding future events and our future results that are subject to the safe harbors created under the Securities Act of 1933 (the “Securities Act”), the Securities Exchange Act of 1934 (the “Exchange Act”) and the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “project,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding our industry, future events, and other statements that are not historical facts. These statements are based on current expectations and beliefs concerning future developments and their potential effects on us and should not be relied upon as representing BigBear.ai’s assessment as of any date subsequent to the date of this release. There can be no assurance that future developments affecting us will be those that we have anticipated. Many actual events and circumstances are beyond our control. These forward-looking statements are subject to a number of risks and uncertainties, including those relating to: changes in domestic and foreign business, market, financial, political, and legal conditions; the uncertainty of projected financial information; delays caused by factors outside of our control, including changes in fiscal or contracting policies or decreases in available government funding, including as a result of events such as war, incidents of terrorism, natural disasters, and public health concerns or epidemics; changes in government programs or applicable requirements; budgetary constraints, including any potential constraints as a result of recent or future federal government layoffs, including automatic reductions as a result of “sequestration” or similar measures and constraints imposed by any lapses in appropriations for the federal government or certain of its departments and agencies, including government shutdowns or the ability of the U.S. federal government to unilaterally cancel a contract with or without cause, and more specifically, the potential impact of the U.S. DOGE Service Temporary Organization on government spending and terminating contracts for convenience; the failure of contracts comprising backlog to result in revenue due to changes in funding, terminations for convenience, or option periods going unexercised; the impact of tariffs or other restrictive trade measures; implementation of spending limits or changes in budgetary constraints; influence by, or competition from, third parties with respect to pending, new, or existing contracts with government customers; changes in our ability to successfully compete for and receive task orders and generate revenue under Indefinite Delivery/Indefinite Quantity contracts; our ability to realize the benefits of the strategic partnerships; risks that the new businesses will not be integrated successfully or that the combined companies will not realize estimated cost savings; failure to realize anticipated benefits of the combined operations; potential delays or changes in the government appropriations or procurement processes; risks regarding the market and our customers accepting and adopting our products, including future new product offerings; the high degree of uncertainty of the level of demand for, and market utilization of, our solutions and products; our ability to successfully execute and realize the benefits of joint ventures, channel sales relationships, partnerships, strategic alliances, subcontracting opportunities, customer contracts and other commercial agreements to which we are a party; and those factors discussed in the Company’s reports and other documents filed with the SEC, including under the heading “Risk Factors.” If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from those projected by these forward-looking statements. There may be additional risks that we presently do not know or that we currently believe are immaterial which could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect our expectations, plans or forecasts of future events and views as of the date of this release. We anticipate that subsequent events and developments will cause our assessments to change. However, we specifically disclaim any obligation to do so. Accordingly, undue reliance should not be placed upon the forward-looking statements.
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