The following is a summary of the Bridger Aerospace Group Holdings, Inc. (BAER) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Bridger Aerospace Group Holdings reported Q1 2024 revenue of $5.5 million, a significant increase from Q1 2023's $365,000, due to the early deployment of surveillance and Super Scooper aircraft to Texas and Oklahoma.

• The company's costs of revenues increased to $9.2 million, up 27% from Q1 2023.

• Selling expenses decreased to $11.6 million in Q1 2024, a positive change from the $33.2 million of Q1 2023.

• Improved fiscal management was shown as net loss improved to $20.1 million in Q1 2024 from a Q1 2023 loss of $44.7 million.

Business Progress:

• Bridger had its highest Q1 revenue in history thanks to early wildfire activity and anticipates a very active 2024 wildfire season.

• Expansion plans into Canada and Europe are underway, with new partnerships formed with Marathon Asset Management and Avenue Sustainable Solutions Fund.

• Technology improvements like the Ignis Technologies platform are ongoing, supporting real-time wildfire risk management.

• The company raised around $9.2 million in a direct offering in April 2024, improving their cash position.

• Bridger's adjusted EBITDA is forecasted to be $35 million to $51 million on revenue of $70 million to $86 million in 2024.

More details: Bridger Aerospace IR

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