Bridger Aerospace Group Holdings, Inc. BAER
Bridger provides aerial wildfire surveillance, relief and suppression, and aerial firefighting services using next-generation technology and environmentally friendly and sustainable firefighting methods primarily throughout the United States, as well as airframe modification and integration solutions for governmental and commercial customers. Our mission is to deploy the most advanced technologies in aviation to protect lives, property, critical infrastructure, and the environment, delivering these capabilities where they are needed most, from wildfire response to defense and beyond. Through innovation and the use of advanced technology and software, focusing on aerial firefighting, disaster response, government applications and public safety, Bridger aims to set the global standard in aviation services.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $122.8M | $98.6M | $66.7M | $46.4M | — |
| Cost of revenue | $71.1M | $57.5M | $41.3M | $33.9M | — |
| Gross profit | $51.7M | $41.1M | $25.4M | $12.5M | — |
| SG&A | $36.3M | $35.8M | $82.9M | $35.1M | — |
| Operating income | — | $5.3M | -$57.5M | -$22.6M | — |
| Interest expense | — | $23.7M | $23.2M | $20.0M | — |
| Pre-tax income | $3.9M | -$16.3M | -$77.7M | -$42.1M | — |
| Income tax | $215.0K | $762.0K | $302.0K | $0 | — |
| Net income | $4.1M | -$15.6M | -$77.4M | -$42.1M | — |
| EPS, basic | -0.42 | -0.81 | 0.19 | -8.20 | — |
| EPS, diluted | -0.42 | -0.81 | -1.00 | -8.20 | — |
| Shares, diluted (wtd. avg.) | $54.3M | $50.5M | $77.5M | $40.3M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $31.4M | $39.3M | $36.9M | $42.5M | $17.3M |
| Total current assets | $40.2M | $63.8M | $45.2M | $106.9M | — |
| Goodwill | $20.9M | $20.7M | $13.2M | $2.5M | — |
| Other intangibles | $6.0M | $6.1M | $1.7M | $208.0K | — |
| Total assets | $330.3M | $290.8M | $273.5M | $306.0M | — |
| Accounts payable | $3.4M | $5.3M | $4.0M | $3.2M | — |
| Short-term debt | $926.0K | $2.2M | $2.1M | $2.4M | — |
| Total current liabilities | $16.5M | $23.4M | $25.4M | $24.3M | — |
| Long-term debt | $212.4M | $202.5M | $204.6M | $205.5M | — |
| Total liabilities | $265.6M | $237.3M | $246.5M | $230.6M | — |
| Retained earnings | -$425.1M | -$429.2M | -$413.7M | -$415.3M | — |
| Total equity | -$342.6M | -$326.7M | -$327.9M | -$413.6M | -$84.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Operating cash flow | $16.7M | $9.4M | -$26.8M | -$9.9M | — |
| Depreciation and amortisation | $15.5M | $17.5M | $11.1M | $9.1M | — |
| Stock-based compensation | $7.1M | $16.2M | $47.8M | $9.0K | — |
| Capital expenditure | $80.9M | $4.1M | $20.7M | $25.6M | — |
| Investing cash flow | -$34.4M | $2.1M | $27.2M | -$89.8M | — |
| Financing cash flow | -$4.3M | $4.7M | -$5.8M | $124.9M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001941536-26-000005.
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