Revenue: As of FY2026 Q1, the actual value is USD 8.512 M, missing the estimate of USD 17.25 M.EPS: As of FY2026 Q1, the actual value is USD -0.69, missing the estimate of USD -0.37.EBIT: As of FY2026 Q1, the actual value is USD -25.13 M.<h4>Revenue</h4>Bridger Aerospace Group Holdings, Inc. reported first quarter 2026 revenue of $8.5 million, a 46% decrease compared to $15.6 million in the prior-year period, reflecting a return to typical seasonal trends and lower Super Scooper aircraft deployment ahead of peak fire season. This decline was also due to non-recurring return-to-service work on Spanish Scoopers and early deployment activity related to the Palisades fire in 2025. Return-to-service revenue was $1.7 million in Q1 2026, down from $5.9 million in Q1 2025.<h4>Operational Costs</h4><ul><li>Cost of Revenues: Cost of revenues was $17.0 million for Q1 2026, a slight decrease from $17.2 million in Q1 2025. Flight operations costs were $6,561 thousand in Q1 2026 compared to $6,252 thousand in Q1 2025, while maintenance costs were $10,487 thousand in Q1 2026 versus $10,955 thousand in Q1 2025.</li><li>Selling, General and Administrative (SG&amp;A) Expenses: SG&amp;A expenses increased to $16.7 million in Q1 2026 from $8.6 million in Q1 2025, primarily due to higher non-cash stock-based compensation, an increase in the fair value of warrants, and increased workforce costs.</li><li>Interest Expense: Interest expense was $6.2 million in Q1 2026, up from $5.7 million in Q1 2025.</li><li>Income Tax Expense: Income tax expense was $28 thousand in Q1 2026, compared to $251 thousand in Q1 2025.</li></ul><h4>Profitability</h4><ul><li>Gross Loss: The company reported a gross loss of -$8,536 thousand in Q1 2026, significantly higher than -$1,561 thousand in Q1 2025.</li><li>Loss Before Income Taxes: Loss before income taxes was -$31,276 thousand in Q1 2026, compared to -$15,287 thousand in Q1 2025.</li><li>Net Loss: Net loss for Q1 2026 was -$31.3 million, compared to a net loss of -$15.5 million in Q1 2025.</li><li>Adjusted EBITDA: Adjusted EBITDA for Q1 2026 was -$14.5 million, compared to -$5.1 million in Q1 2025.</li></ul><h4>Cash and Cash Equivalents</h4>Cash and cash equivalents were $9.0 million as of March 31, 2026, a decrease from $31.4 million as of December 31, 2025. This decrease primarily reflects seasonal working capital usage, timing of receipts, strategic investment for future contracts, continued investment in fleet readiness, and investments in aircraft production slots and fleet modernization.<h4>Cash Flow from Operations and Investing</h4><ul><li>Net cash used in operating activities: Net cash used in operating activities was -$21,117 thousand in Q1 2026, compared to -$17,656 thousand in Q1 2025.</li><li>Net cash used in investing activities: Net cash used in investing activities was -$5,985 thousand in Q1 2026, compared to -$2,643 thousand in Q1 2025.</li></ul><h4>Unique Metrics and Operational Highlights</h4>Bridger Aerospace Group Holdings, Inc. secured a five-year, $18.6 million Indefinite Delivery Indefinite Quantity contract with the U.S. Department of the Interior for fixed-wing transportation services in Alaska, running from April 2026 through March 2031. The company maintains access to a credit facility with approximately $90 million remaining as of March 31. Hours flown on sensor planes nearly doubled in Q1 2026 compared to Q1 2025, and the company achieved its earliest-ever mobilization of a multi-mission aircraft in February.<h4>Outlook / Guidance</h4>Bridger Aerospace Group Holdings, Inc. reiterated its full-year 2026 guidance, expecting revenue between $135 million and $145 million, representing 14% growth at the midpoint and 29% growth when excluding non-recurring return-to-service work in 2025. Adjusted EBITDA is projected to be between $55 million and $60 million, indicating 27% growth at the midpoint of the range. The company anticipates a highly active fire season based on current weather and environmental conditions, and expects improved operating cash flow generation over the year driven by increased fleet utilization and higher fire activity.

Bridger Aerospace | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 8.512 M