BigBear.ai Shares Jump 11.7% After $225 Million Contract Awards

BigBear.ai shares climbed as much as 11.7% Tuesday after the defense-AI company announced more than $225 million in total potential contract awards since July.

The stock opened at $2.31 and reached $2.57 during the Oct. 13 session, compared with a previous close of $2.30.

The awards span homeland security, defense, intelligence and federal civilian customers. More than 25 involve generative AI work for the FBI, NASA, the U.S. Coast Guard, the Department of Energy and the Department of Veterans Affairs.

BigBear.ai also secured recompetes supporting U.S. Customs and Border Protection through work with SAIC and Unissant. Chief Executive Kevin McAleenan said the wins demonstrated an expanding customer base and the company’s ability to combine technology with operational expertise.

The $225 million figure includes potential options and contract ceiling amounts, meaning it does not necessarily equal funded revenue. BigBear.ai’s backlog stood at approximately $270 million as of June 30, with about 29% funded.

Second-quarter revenue reached $36.7 million, up 13% from a year earlier. The company maintained its 2026 revenue forecast of $135 million to $165 million.