Bigbear.ai, Inc. · NYSE:BBAI
Bigbear.ai — Investor Presentation (June 2023)
28 slides from Bigbear.ai's investor presentation, Jun 8, 2023
Slide 1: BigBear.ai June 2023
Exhibit 99.1 BigBear.ai NYSE:BBAI June 2023
Slide 2: Disclaimer: Forward-Looking Statements
Disclaimer Forward-Looking Statements This presentation 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”) and the Securities Exchange Act of 1934 (the “Exchange Act”)
Slide 3: Who We Are
Who We Are Our Mission: Deliver Clarity for the World’s Most Complex Decisions What We Do: Key Facts: • 2022 Revenue of $155M (6.5% Growth from 2021) We provide advanced software capabilities bundled with expert services to help our customers: • Q1 2023 Revenue of $42.2M (15.8% YoY Growth) • Turn in
Slide 4: Key Company Milestones
Key Company Milestones • Implemented focused strategy targeting most attractive end markets with demand for advanced AI/ML applications: supply chains & logistics, cybersecurity, and autonomous • AE Industrial Partners • Legacy • IPO via merger systems combines 4 leading relationships with GigCapita
Slide 5: $45B Market with Strong Growth Potential
$45B Market with Strong Growth Potential AI/ML Total Addressable Market Federal AI Spend ($ in Billions) ($ in Billions) $128.9 3.0 140 $2.5 120 2.5 100 2.0 80 1.5 $1.3 60 $1.1 $1.0 $44.9 1.0 40 0.5 20 0 0.0 2021 2028 2021 2022 2023 2024 Reported Forecasted Cybersecurity Supply Chains Autonomous Tec
Slide 6: Why We Win
Why We Win Customer Testimonials Demonstrated world-class operational AI / ML technology P “These projects have saved CFP hundreds of Forecast processes 18+ months thousands of dollars in efficiencies and will be the backbone of our 1-, 5- and 10-year scenario planning.” Deep domain & systems integr
Slide 7: Supply Chains & Logistics Solutions
Supply Chains & Logistics Solutions Capabilities ProModel Discrete Event Simulator™ • Complex, sparse, and dirty data Supply chain resiliency collection, enrichment and processing Observe DaaS™ Prescriptive forecasting Support of business Multi-INT • Operational analysis, including significant captu
Slide 8: Cybersecurity Solutions
Cybersecurity Solutions Capabilities BEARCLAW § Automate key processes - Reverse • Automated binary data engineering and Vulnerability assessment SpaceCREST analysis platform • Apply AI/ML backed analytical solutions to • AI/ML backed workflows • High-fidelity mod/sim the cybersecurity domain • Huma
Slide 9: Autonomous Systems Solutions
Autonomous Systems Solutions Capabilities Ursa Minor • Identify and classify anomalous marine objects and activity • Analytics platform to enable ConductorOS autonomous operations across • Predictive forecasting & descriptive analytics all domains • Operational Prototype 2H2023 • Integration of mode
Slide 10: Recent Wins & Expansions
Recent Wins & Expansions International Maritime Exercise 23: Successfully demonstrated AI/Machine Learning (ML)-powered decision support solution at IMX 23 with Task Force 59 BigBear.ai will serve as L3Harris’ exclusive provider of: DoD’s Chief Digital and Artificial Intelligence Office’s Tradewind
Slide 11: Recent Wins & Expansions
Recent Wins & Expansions Global Force Information Management 1 Select Competition: Palantir, IBM, CGI Result: Won $14M+ contract to lead Phase 2 as the sole prime vendor Additional Opportunities: A Phase 3 production contract is expected later this year 2 Force Readiness Analytics Contract Growth: U
Slide 12: Well Positioned in Competitive Landscape
Well Positioned in Competitive Landscape Primary Competitors BigBear.ai Differentiation Anti-monolith: We are committed to delivering open architecture solutions, enabling C3.ai Clarifai interoperability across platforms & algorithms, and providing access to models and data. Rebellion Palantir Domai
Slide 13: Key Long-Term Growth Drivers
Key Long-Term Growth Drivers Supply Chains & Cybersecurity Autonomous Systems Logistics Product Demand: Automated L3Harris Autonomous Integration of discrete event Surface Vessel Partnership reverse engineering of simulation capabilities with malware and other types of Adjacent opportunities partner
Slide 14: Executive Team Poised to Win
Executive Team Poised to Win Mandy Long Julie Peffer Norm Laudermilch Greg Goldwater Carolyn Blankenship CEO CFO COO CGO GC BigBear June 2021, October 2022 June 2022 May 2023 March 2022 Start Date: (Promoted CGO May 2023) Years of 15+ 30+ 30+ 19+ 24+ Experience: IBM Verizon Prior AWS Modernizing Med
Slide 15: Financials
Financials BIGBEAR.AI
Slide 16: Key Financial Highlights
Key Financial Highlights ✓ Strong, diversified, growing revenue base: $155M in 2022 & $42.2M in Q1 2023 ✓ Multi-year contracts in place provide strong visibility - $197M backlog (as of 3/31/2023) ✓ Continued gross margin expansion through increased scale & expansion into higher margin markets Achiev
Slide 17: Strong Historic Revenue Growth
Strong Historic Revenue Growth ($ in Millions) YoY Annual YoY Quarterly $155.0 $145.6 $42.2 $36.4 2021A 2022A Q1 2022A Q1 2023A Note: 2022A and Q1 2023A include the acquisition of ProModel Commercial in April 2022 17
Slide 18: Revenue From Diversified Solution Portfolio
Revenue From Diversified Solution Portfolio Transitioning revenue composition to significant player in autonomous systems and cybersecurity Long-Term Target Q1 2023 4% 10 - 15% Systems Integration $18.6M 35 - 45% Supply Chains & 26% $10.8M Logistics 44% 25 - 35% Cybersecurity $11.2M 26% Autonomous S
Slide 19: Achieving Success in Cost Management
Achieving Success in Cost Management Over 65% and 30% reduction in total operating expenses and recurring operating expenses, respectively, since Q2 2022, while maintaining revenue growth ($ in Millions) $64.9 Total Operating Expenses Total Operating 65.7% 173% $38.2 Expenses $24.1 $22.2 Reduction i
Slide 20: Summary Income Statement
Summary Income Statement Key Metric: FY 2021A FY 2022A Q1 FY2023A Long-Term Target Revenue Growth (1) 4.7% 6.5% 15.8% 10% - 15% (YoY) Gross Margin 23.4% 27.7% 24.2% 35% - 40% Operating Income (53.9%) (71.3%) (28.5%) 10% - 15% Margin Adjusted EBITDA 3.3% (11.0%) (9.0%) 15% - 20% (2) Margin Note: (1)
Slide 21: Key Highlights
Key Highlights ✓ Trusted provider for over 20 U.S. defense / intelligence customers, high percentage of employees with active security clearance ✓ Success within the most complex environments supports continued growth in federal & commercial sectors (1) ✓ Attractive, rapidly growing TAM: $44.9B (202
Slide 22: Appendix
Appendix BIGBEAR.AI
Slide 23: We Provide Mission Critical Solutions
We Provide Mission Critical Solutions Solutions Capabilities Solutions • Data ingestion, enrichment & processing Mission-based AI/ML • Artificial Intelligence & Machine Learning Intelligent Automation Cybersecurity • Predictive Analytics & Visualization Modeling & Simulation • Expert professional se
Slide 24: Compelling Go-To-Market Strategies
Compelling Go-To-Market Strategies Direct Indirect Sales to commercial enterprises and government agencies Deep relationships with key system integrators, strategic and through preferred purchasing vehicles. Material contract channel partners expansion opportunities exist as well as new logo acquisi
Slide 25: Case Study: Digital Twin for Shipyards
Case Study: Digital Twin for Shipyards BigBear.ai provides Simulation Based Planning and Scheduling Platform Saving Shipyards Millions of Dollars a Year Digital Twin Allows Rapid What If Analysis § Weeks of Efforts à Days • Analysis of the capacity related impact of new ships, ship designs, yard cha
Slide 26: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation Key Metric: FY 2021A FY 2022A Q1 FY2023A Revenue 145,578 155,011 42,154 Net loss (123,552) (121,674) (26,214) Interest expense 7,762 14,436 3,556 Income tax (benefit) expense 1,084 (1,717) 59 Depreciation & amortization 7,262 7,758 1,986 EBITDA (107,444) (101,197) (20,
Slide 27: Recurring OpEx Reconciliation
Recurring OpEx Reconciliation Key Metric: Q2 FY2022A Q3 FY2022A Q4 FY2022A Q1 FY2023A Total Operating expenses 64,925 24,146 38,156 22,245 Equity-based compensation (1,152) (587) (980) (1,002) Restructuring charges - (1,562) (2,641) (755) Capital market advisory fees (38) - - - Non-recurring integra
Slide 28: Thank You
Thank You BIGBEAR.AI
BigBear.ai Holdings — Investor Presentation (June 2023) on 6ix