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Bigbear.Ai (BBAI) Extends Deal With U.S. Army for GFIM System
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BigBear.ai (BBAI - Free Report) is keeping no stone unturned to expand its partner base. The company recently extended its partnership with the U.S. Army to continue as a prime contractor for the Global Force Information Management (GFIM) system. The deal is worth $17.9 million.
The expansion aims to make the Army more data-centric and focused on improving the data layer, developing the minimum viable product according to its priorities and ensuring that all systems run within a secure and accredited IL5/IL6 cARMY Cloud environment.
This extension aims to expand BigBear.ai’s and GFIM’s continuous commitment to establishing a cutting-edge platform that meets the Army's highest data security and operational effectiveness criteria.
With the GFIM system’s capabilities, the U.S. Army is set to have a data-driven approach. Advances in the data layer, as well as progress toward certification in the cARMY cloud environment, are intended to improve the operational awareness and system security of the forces.
The company’s shares have returned 173.1% compared with the Zacks Computer & Technology sector’s rise of 47.8% year to date. The company's focus on AI-driven solutions for the military sector has contributed to its outperformance.
BigBear.ai’s solutions are gaining prominence due to a solid partner base. The company’s strong portfolio is helping it win market share in the IT services domain.
The company recently partnered with Amazon’s (AMZN - Free Report) division, Amazon Web Services (AWS) Professional Services (ProServe) to provide warehousing solutions.
The partnership will enable Amazon Web Services ProServe customers to access complex warehouse operations virtually and make decisions for optimizing the processes through BigBear.ai’s ProModel.
It also partnered with Autodesk (ADSK - Free Report) to develop smooth interfaces for architects, process engineering, design and operations.
The integration of BigBear.ai's ProModel DES into AutoCAD as a result of its partnership with Autodesk has increased the platform's capabilities in architectural, construction and engineering design.
The ProModel solution from BigBear.ai continues to improve operational efficiency across a wide range of application cases. Its recent accomplishments include increased engagement with one of the world's leading shipbuilders, which supports US-based operations.
For 2023, BigBear.ai expects revenues between $155 million and $170 million. The consensus mark for fiscal 2023 revenues is pegged at $157.18 million, indicating 1.4% growth year over year.
The Zacks Consensus Estimate for BigBear.ai’s fourth-quarter 2023 revenues is pegged at $42.63 million, indicating growth of 5.6% year over year.
Zacks Rank & Stock to Consider
Currently, BigBear.ai carries a Zacks Rank #3 (Hold).
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Bigbear.Ai (BBAI) Extends Deal With U.S. Army for GFIM System
BigBear.ai (BBAI - Free Report) is keeping no stone unturned to expand its partner base. The company recently extended its partnership with the U.S. Army to continue as a prime contractor for the Global Force Information Management (GFIM) system. The deal is worth $17.9 million.
The expansion aims to make the Army more data-centric and focused on improving the data layer, developing the minimum viable product according to its priorities and ensuring that all systems run within a secure and accredited IL5/IL6 cARMY Cloud environment.
This extension aims to expand BigBear.ai’s and GFIM’s continuous commitment to establishing a cutting-edge platform that meets the Army's highest data security and operational effectiveness criteria.
With the GFIM system’s capabilities, the U.S. Army is set to have a data-driven approach. Advances in the data layer, as well as progress toward certification in the cARMY cloud environment, are intended to improve the operational awareness and system security of the forces.
BigBear.ai Holdings, Inc. Price and Consensus
BigBear.ai Holdings, Inc. price-consensus-chart | BigBear.ai Holdings, Inc. Quote
Expanding Portfolio & Partner Base Aids Growth
The company’s shares have returned 173.1% compared with the Zacks Computer & Technology sector’s rise of 47.8% year to date. The company's focus on AI-driven solutions for the military sector has contributed to its outperformance.
BigBear.ai’s solutions are gaining prominence due to a solid partner base. The company’s strong portfolio is helping it win market share in the IT services domain.
The company recently partnered with Amazon’s (AMZN - Free Report) division, Amazon Web Services (AWS) Professional Services (ProServe) to provide warehousing solutions.
The partnership will enable Amazon Web Services ProServe customers to access complex warehouse operations virtually and make decisions for optimizing the processes through BigBear.ai’s ProModel.
It also partnered with Autodesk (ADSK - Free Report) to develop smooth interfaces for architects, process engineering, design and operations.
The integration of BigBear.ai's ProModel DES into AutoCAD as a result of its partnership with Autodesk has increased the platform's capabilities in architectural, construction and engineering design.
The ProModel solution from BigBear.ai continues to improve operational efficiency across a wide range of application cases. Its recent accomplishments include increased engagement with one of the world's leading shipbuilders, which supports US-based operations.
For 2023, BigBear.ai expects revenues between $155 million and $170 million. The consensus mark for fiscal 2023 revenues is pegged at $157.18 million, indicating 1.4% growth year over year.
The Zacks Consensus Estimate for BigBear.ai’s fourth-quarter 2023 revenues is pegged at $42.63 million, indicating growth of 5.6% year over year.
Zacks Rank & Stock to Consider
Currently, BigBear.ai carries a Zacks Rank #3 (Hold).
A better-ranked stock in the broader technology sector is Flex (FLEX - Free Report) , which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Flex shares have gained 22.5% in the year-to-date period. Flex’s long-term earnings growth rate is currently projected at 12.4%.