Bridger Aerospace

Bridger Aerospace Announces Record 2023 Results; Provides Outlook for 2024 Growth

Retrieved on: 
Tuesday, March 19, 2024
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BELGRADE, Mont., March 19, 2024 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, Inc. (“Bridger”, “the Company” or “Bridger Aerospace”), (NASDAQ: BAER, BAERW), one of the nation’s largest aerial firefighting companies, today reported results for the fourth quarter and fiscal year ended December 31, 2023.

Key Points: 
  • BELGRADE, Mont., March 19, 2024 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, Inc. (“Bridger”, “the Company” or “Bridger Aerospace”), (NASDAQ: BAER, BAERW), one of the nation’s largest aerial firefighting companies, today reported results for the fourth quarter and fiscal year ended December 31, 2023.
  • This fleet growth, a lean cost structure as well as the earliest deployment in the company’s history has us well positioned for 2024.
  • Gross margin increased to 38% in 2023 up from 27% in 2022 driven primarily by record utilization of the Company’s growing Super Scooper fleet in 2023.
  • For 2023, Bridger reported a net loss of $77.4 million compared to a net loss of $42.1 million in 2022.

Bridger Aerospace Strengthens Board with the Addition of Seasoned Business Leaders Elizabeth C. Fascitelli and David A. Schellenberg as Independent Directors

Retrieved on: 
Friday, March 8, 2024
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Jeffrey Kelter, Bridger’s Chairman, commented, “The addition of two proven leaders is a very powerful statement in Bridger’s continuing evolution as a public company.

Key Points: 
  • Jeffrey Kelter, Bridger’s Chairman, commented, “The addition of two proven leaders is a very powerful statement in Bridger’s continuing evolution as a public company.
  • Additionally, Mr. Schellenberg added that "I am honored to join the Board at such an exciting time for Bridger.
  • Ms. Fascitelli earned a Bachelor of Arts from Dartmouth College and a Master’s in Business Administration from Harvard Business School.
  • David A. Schellenberg, age 60, is a seasoned businessman with over 30 years of operating and financial leadership and risk management experience.

Bridger Aerospace Announces Earliest Fire Season Dispatch in Company History

Retrieved on: 
Tuesday, February 20, 2024
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BELGRADE, Mont., Feb. 20, 2024 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, Inc. (“Bridger” or “Bridger Aerospace”), (NASDAQ: BAER, BAERW), one of the nation’s largest aerial firefighting companies, today announced the deployment of a Pilatus PC-12 Multi-Mission Aircraft (MMA) to Oklahoma to provide aerial intelligence for early-season wildfires.

Key Points: 
  • BELGRADE, Mont., Feb. 20, 2024 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, Inc. (“Bridger” or “Bridger Aerospace”), (NASDAQ: BAER, BAERW), one of the nation’s largest aerial firefighting companies, today announced the deployment of a Pilatus PC-12 Multi-Mission Aircraft (MMA) to Oklahoma to provide aerial intelligence for early-season wildfires.
  • This marks the earliest seasonal deployment of any Bridger Aircraft since the company’s inception in 2014.
  • Bridger Aerospace operates two Multi-Mission Aircraft under a 5-year contract with the Department of the Interior (DOI) and Bureau of Indian Affairs (BIA), initiated during the 2023 fire season to leverage the architecture of Bridger’s proprietary data platform and leading-edge sensor and mapping capabilities.
  • Tim Sheehy, Chief Executive Officer of the Company, commented, “Team Bridger is always ready to respond when called upon to protect our communities.

Bridger Aerospace Announces Second Quarter 2023 Results 

Retrieved on: 
Thursday, August 10, 2023
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BELGRADE, Mont., Aug. 10, 2023 (GLOBE NEWSWIRE) --  Bridger Aerospace Group Holdings, Inc. (“Bridger” or “Bridger Aerospace”), (NASDAQ: BAER, BAERW), one of the nation’s largest aerial firefighting companies, today reported results for the second quarter ended June 30, 2023.

Key Points: 
  • BELGRADE, Mont., Aug. 10, 2023 (GLOBE NEWSWIRE) --  Bridger Aerospace Group Holdings, Inc. (“Bridger” or “Bridger Aerospace”), (NASDAQ: BAER, BAERW), one of the nation’s largest aerial firefighting companies, today reported results for the second quarter ended June 30, 2023.
  • Revenue for the second quarter of 2023 was $11.6 million compared to $12.8 million in the second quarter of 2022, down approximately 9%.
  • Bridger reported a net loss of $19.0 million in the second quarter of 2023 compared to a net loss of $4.6 million in the second quarter of 2022.
  • Adjusted EBITDA was $1.0 million in the second quarter of 2023, compared to $2.0 million in the second quarter of 2022.

Bridger Aerospace Enters into Definitive Purchase Agreement with Bighorn Airways

Retrieved on: 
Monday, July 24, 2023
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BELGRADE, Mont., July 24, 2023 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, Inc. (“Bridger” or “Bridger Aerospace”), (NASDAQ: BAER), one of the nation’s largest aerial firefighting companies, today announced that it has entered into a definitive purchase agreement with Bighorn Airways, Inc. (“Bighorn”), a specialty aviation company based in Sheridan, WY.

Key Points: 
  • BELGRADE, Mont., July 24, 2023 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, Inc. (“Bridger” or “Bridger Aerospace”), (NASDAQ: BAER), one of the nation’s largest aerial firefighting companies, today announced that it has entered into a definitive purchase agreement with Bighorn Airways, Inc. (“Bighorn”), a specialty aviation company based in Sheridan, WY.
  • “The addition of Bighorn’s assets to the Bridger Aerospace family expands our aerial firefighting services to new mission critical areas,” commented Tim Sheehy, Bridger Aerospace’s Chief Executive Officer.
  • We are honored to welcome Bighorn to the Bridger family.”
    Bighorn’s fleet of 12 aircraft includes three Bombardier Dash 8 featuring a 7500 lbs.
  • Bridger will provide further information on the outlook for the Company and the addition of Bighorn during its next quarterly earnings call.

Bridger Aerospace Confirms CEO Tim Sheehy’s Bid for the U.S. Senate

Retrieved on: 
Tuesday, June 27, 2023
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BOZEMAN, Mont., June 27, 2023 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, Inc. (“Bridger” or “Bridger Aerospace”), (NASDAQ: BAER, BAERW), one of the nation’s largest aerial firefighting companies, today confirmed that Timothy P. Sheehy, the Company’s Chief Executive Officer, Founder and Director is entering the race for the U.S. Senate for the State of Montana.

Key Points: 
  • BOZEMAN, Mont., June 27, 2023 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, Inc. (“Bridger” or “Bridger Aerospace”), (NASDAQ: BAER, BAERW), one of the nation’s largest aerial firefighting companies, today confirmed that Timothy P. Sheehy, the Company’s Chief Executive Officer, Founder and Director is entering the race for the U.S. Senate for the State of Montana.
  • During his candidacy, Sheehy will continue to serve as Chief Executive Officer with the continued support of Bridger’s experienced management team and Board of Directors.
  • “Tim has assembled an experienced management team comprised of former military, corporate and aviation experts, all of whom are accustomed to collaborating as a team to pursue and execute Bridger’s mission-specific objectives.
  • Bridger is confident that this group of professionals, constituting the finest management team in the business, will continue to successfully achieve our aerial firefighting objectives.”
    Mr. Sheehy has been the Chief Executive Officer and Director of Bridger Aerospace since 2014.

NightRide Thermal Partners with Bridger Aerospace Group Holdings to Equip Aerial Firefighting Aircraft with High-Resolution Thermal Cameras to Increase Situation Awareness

Retrieved on: 
Friday, June 23, 2023
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BROOKLYN, N.Y. and BOZEMAN, Mont., June 23, 2023 /PRNewswire/ -- NightRide Thermal Inc., a leader in vehicle-mounted thermal cameras, today announced a partnership with Bridger Aerospace Group Holdings, Inc. ("Bridger" or "Bridger Aerospace"), one of the nation's largest aerial firefighting companies, to supply Bridger with high-resolution thermal cameras to increase situational awareness during mission critical flights.

Key Points: 
  • BROOKLYN, N.Y. and BOZEMAN, Mont., June 23, 2023 /PRNewswire/ -- NightRide Thermal Inc., a leader in vehicle-mounted thermal cameras, today announced a partnership with Bridger Aerospace Group Holdings, Inc. ("Bridger" or "Bridger Aerospace"), one of the nation's largest aerial firefighting companies, to supply Bridger with high-resolution thermal cameras to increase situational awareness during mission critical flights.
  • "NightRide is our new infrared camera supplier for the scooper IR project," said Zach Hargrove, Engineering Program Manager at Bridger.
  • "We integrated the Ranger model into our aircraft and have been very pleased with the results.
  • "The application of the NightRide Thermal cameras will greatly bolster pilot confidence and their ability to fly safer.

Bridger Aerospace Announces First Quarter 2023 Results

Retrieved on: 
Friday, May 12, 2023
Insurance, Maintenance, SG, Wildfire, Aviation, Canadair CL-415, Sale, Interest, M&A, EBITDA, BAER, Depreciation, Growth, Adjustment, Bridger Aerospace, Aircraft, Airline, Bookkeeping

BOZEMAN, Mont., May 12, 2023 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, Inc. (“Bridger” or “Bridger Aerospace”), (NASDAQ: BAER, BAERW), one of the nation’s largest aerial firefighting companies, today reported results for the first quarter ended March 31, 2023.

Key Points: 
  • BOZEMAN, Mont., May 12, 2023 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, Inc. (“Bridger” or “Bridger Aerospace”), (NASDAQ: BAER, BAERW), one of the nation’s largest aerial firefighting companies, today reported results for the first quarter ended March 31, 2023.
  • Bridger reported a net loss of $44.7 million in the first quarter of 2023 compared to a net loss of $14.9 million in the first quarter of 2022.
  • Adjusted EBITDA was negative ($10.7) million in the first quarter of 2023, compared to negative ($9.1) million in the first quarter of 2022.
  • Bridger Aerospace will hold an investor conference call on Friday, May 12, 2023 at 4:30 p.m. Eastern Time (2:30 p.m. Mountain Time) to discuss these results, its current financial position and business outlook.

Bridger Aerospace Announces Full Year 2022 Results; Provides Outlook for 2023 Growth

Retrieved on: 
Monday, March 20, 2023
Maintenance, Bank statement, Aviation, Canadair CL-415, Fire, State government, GAAP, Interest, EBITDA, BAER, Depreciation, Growth, Adjustment, Bridger Aerospace, Aircraft, Cryptocurrency, Airline, Video game, Bookkeeping

As a result, Adjusted EBITDA is projected to range from $37 million to $45 million for 2023.

Key Points: 
  • As a result, Adjusted EBITDA is projected to range from $37 million to $45 million for 2023.
  • Revenue for 2022 grew 18% to $46.4 million compared to $39.4 million in 2021.
  • For 2022, Bridger reported a net loss of $42.1 million compared to a net loss of $6.5 million in 2021.
  • An audio replay will be available through March 27, 2023 by calling 844-512-2921 or 412-317-6671 and using the passcode 13736897.

Bridger Aerospace and Jack Creek Announce Closing of Business Combination

Retrieved on: 
Tuesday, January 24, 2023
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and NEW YORK, Jan. 24, 2023 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, LLC (“Bridger” or “Bridger Aerospace”), a leading independent provider of aerial firefighting services, and Jack Creek Investment Corp. (“Jack Creek”) (NASDAQ: JCIC), a special purpose acquisition company, today announced the completion of their previously announced business combination (the “Business Combination”).

Key Points: 
  • and NEW YORK, Jan. 24, 2023 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, LLC (“Bridger” or “Bridger Aerospace”), a leading independent provider of aerial firefighting services, and Jack Creek Investment Corp. (“Jack Creek”) (NASDAQ: JCIC), a special purpose acquisition company, today announced the completion of their previously announced business combination (the “Business Combination”).
  • The Business Combination was approved at a special meeting of Jack Creek shareholders on January 24, 2023.
  • Jack Creek’s Executive Chairman, Jeffrey Kelter, who is joining Bridger’s Board of Directors as Chairman added, “We are excited to finalize our business combination and continue our partnership with the Bridger management team.
  • Ropes & Gray LLP and Weil, Gotshal & Manges LLP are serving as legal advisors to Jack Creek.