- BigBear.ai ( NYSE: BBAI ) shares jump pre-market after securing $14.8M contract from U.S. army on global force information management system.
- Under the terms of the sole-source contract, Palantir Technologies ( PLTR ) will join the BigBear.ai team as a leading partner in implementing an enterprise-wide intelligent automation platform that provides the Army with a holistic view of its global force structure.
- Contract is termed for 9 months.
- The AI technology company stated the end-state solution will transition 14 legacy systems into a single solution to provide real-time holistic data for up to 160,000 Army users.
- BBAI stock is up 36% pre-market to trade at $1.64.
- Earlier: BigBear.ai GAAP EPS of -$0.45 misses by $0.36, revenue of $37.6M misses by $3.27M
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BigBear.ai soars after $14.8M US army global force automation contract