BAER Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	115.7	122.83	98.61	66.71	46.39	39.38
Revenue Growth (YoY)	6.39%	24.56%	47.83%	43.80%	17.78%	193.63%
Cost of Revenue	70.99	71.15	57.48	41.34	33.89	26.58
Gross Profit	44.71	51.68	41.14	25.37	12.5	12.81
Selling, General & Admin	10.96	36.28	35.82	82.86	35.13	11.22
Total Operating Expenses	10.96	36.28	35.82	82.86	35.13	11.22
Operating Income	44.56	15.4	5.32	-57.5	-22.63	1.59
Interest Expense	22.85	23.26	23.71	-23.22	-20.02	-9.29
Other Non-Operating Income (Expense)	11.33	11.79	2.07	3.21	0.52	1.16
Total Non-Operating Income (Expense)	34.18	35.05	25.78	-20.01	-19.5	-8.13
Pretax Income	-12.06	3.93	-16.33	-77.66	-42.13	-6.54
Provision for Income Taxes	0.44	0.22	0.76	0.3	-	-
Net Income	5.49	-22.94	-40.91	8.52	-330.48	-22.45
Net Income Attributable to Preferred Dividends	27.55	27.08	25.34	-85.88	288.35	15.91
Net Income to Common	5.49	-22.94	-40.91	8.52	-330.48	-22.45
Net Income Growth	254.82%	-	-	-	-	-
Shares Outstanding (Basic)	13,700	54	51	45	40	40
Shares Outstanding (Diluted)	23,069	54	51	40	40	40
Shares Change (YoY)	4.73%	7.44%	25.41%	-	0.41%	-
EPS (Basic)	-0.71	-0.42	-0.81	0.19	-8.20	-0.56
EPS (Diluted)	-0.84	-0.42	-0.81	-1.00	-8.20	-0.56
Shares Outstanding	57.53	55.89	54.21	44.78	39.08	39.08
Free Cash Flow	-120.58	-64.21	5.27	-47.55	-35.5	-47.74
Free Cash Flow Per Share	-0.01	-1.18	0.10	-1.18	-0.88	-1.19
Gross Margin	38.64%	42.08%	41.72%	38.03%	26.95%	32.51%
Operating Margin	38.51%	12.54%	5.39%	-86.19%	-48.78%	4.04%
Profit Margin	-40.15%	3.02%	-17.33%	-115.97%	-90.81%	-16.61%
FCF Margin	-104.22%	-52.28%	5.35%	-71.27%	-76.53%	-121.22%
EBITDA	60.1	30.87	22.77	-46.41	-13.54	8.26
EBITDA Margin	51.95%	25.13%	23.09%	-69.57%	-29.18%	20.98%
EBIT	44.56	15.4	5.32	-57.5	-22.63	1.59
EBIT Margin	38.51%	12.54%	5.39%	-86.19%	-48.78%	4.04%
Effective Tax Rate	-3.63%	5.48%	-4.67%	-0.39%	0.00%	0.00%

Updated May 8, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q