2026 Q2 10-Q: over the same year total equity rose from $266.6m to $770.3m. Cash fell $354.5m while equity rose $503.7m, and long-term debt went to zero
BigBear.ai (BBAI) closed the second quarter of 2026 with $36.3m of cash and equivalents, down 90.7% from $390.8m four quarters earlier. Over the same span total equity rose from $266.6m to $770.3m and long-term debt went from $102.7m to zero.
BigBear.ai sells artificial intelligence analysis software to governments and companies. The money in its bank fell to less than a tenth in a year. In exchange the debt it owed disappeared and the equity on its books grew sharply, because the debt turned into shares. What customers owe has built up to nearly a quarter of sales.
58 Filing score · Moderate
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It fell far more than the quarter's operating outflow. Where the difference came from is set out in the subscriber section.
Debt can be settled in more than one way. The route taken this quarter is tabled in the subscriber section.
Equity is a book figure and not cash. Why the two moved in opposite directions is in the subscriber section.
Their share of quarterly revenue and the increase on the prior quarter are in the subscriber section.
On SEC EDGAR, open BigBear.ai Holdings, Inc.'s 2026 second-quarter 10-Q (accession 0001836981-26-000064) and read the balance sheet and cash flow statement.
Open the filing cited at the bottom of the article (e.g. the 10-Q note number) on SEC EDGAR via the link at the end of the article.
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