Bridger Aerospace Reports Strong Q3 Earnings and Growth

Bridger Aerospace Group Holdings, Inc. ((BAER)) has held its Q3 earnings call. Read on for the main highlights of the call.

Bridger Aerospace Group Holdings, Inc. recently held an earnings call that highlighted a strong operational and financial performance. The company reported record task orders and significant revenue growth, although challenges such as FMS revenue delays and increased costs were acknowledged. Overall, the positive aspects of financial growth and strategic progress were emphasized, outweighing the negatives.

Record Task Orders and Utilization

Bridger Aerospace achieved record task orders through October, with a 10% year-over-year increase in utilization across its fleet. The company reported that multi-mission aircraft flight hours nearly doubled compared to the previous year, showcasing the effectiveness and demand for their services.

Surpassing Annual Revenue Guidance

The company surpassed its annual revenue guidance within the first nine months of the year, achieving $114.3 million, which marks a 38% increase year-over-year. This impressive financial performance underscores Bridger Aerospace’s strategic growth and market positioning.

Strong Financial Performance and Debt Facility

Bridger Aerospace completed a $49 million sale leaseback and entered into a new $331 million expanded debt facility. This move provides the company with financial flexibility to support future growth initiatives and fleet expansion.

Operational Effectiveness in Wildfire Management

Despite a 50% increase in wildfire incidents, Bridger Aerospace effectively managed operations, resulting in only 4.7 million acres burned, a 40% decrease from the previous year. This highlights the company’s operational effectiveness and capability in wildfire management.

Adjusted EBITDA Growth

The company’s adjusted EBITDA grew to $49.1 million in Q3 2025 from $47 million in Q3 2024. Bridger Aerospace is on track to hit the high end of its adjusted EBITDA guidance for 2025, indicating strong financial health and operational efficiency.

FMS Revenue Delays

Bridger Aerospace faced delays in FMS revenue and business opportunities due to federal budgeting uncertainties. These delays have impacted short-term revenue, presenting a challenge for the company.

High Cost of Revenues

The cost of revenues increased significantly, with maintenance expenses rising from $16.8 million in the first nine months of 2024 to $30.8 million in 2025. This increase in costs is a concern that the company will need to address moving forward.

Forward-Looking Guidance

Looking ahead, Bridger Aerospace is poised for continued growth. The company reported a 5% increase in revenue to a record $67.9 million in the third quarter of fiscal 2025. With a significant rise in aircraft utilization and extended contract days, Bridger Aerospace is on track to meet the high end of its adjusted EBITDA guidance of $42 million to $48 million. The recent financial moves, including a sale leaseback and a new debt facility, are expected to support future fleet expansion and drive EBITDA growth.

In conclusion, Bridger Aerospace’s earnings call painted a picture of robust financial health and strategic progress. While challenges such as FMS revenue delays and increased costs were noted, the company’s record task orders, revenue growth, and operational effectiveness in wildfire management stood out as key achievements. The forward-looking guidance suggests continued growth and financial stability, making Bridger Aerospace a company to watch in the coming quarters.