The following is a summary of the Bridger Aerospace Group Holdings, Inc. (BAER) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Bridger Aerospace reported a record revenue growth of 44%, amounting to $66.7 million in 2023.

• Gross margin increased to 38% in 2023 from 27% in 2022.

• Despite an increased net loss of $77.4 million, up from $42.1 million in 2022, the company saw a substantial rise in Adjusted EBITDA from $3.7 million to $18.7 million.

• Bridger Aerospace reported cash, restricted cash, and short-term investments of $37.9 million, against an outstanding long-term debt of under $207 million.

Business Progress:

• Despite a late start to the US wildfire season in 2023, increased usage of the Super Scooper fleet was reported from Q3 onwards, leading to record utilization.

• Two additions were made to the Super Scooper Aircraft fleet in September 2022 and February 2023.

• The firm plans to phase out certain old aircraft from their aerial surveillance operations.

• For 2024, it is projected that Bridger's standalone operations, inclusive of six scoopers, will generate adjusted EBITDA of $35 million to $51 million, with revenues projected between $70 million to $86 million.

• Q1 of 2024 is expected to register a negative adjusted EBITDA, to be compensated with positive adjusted EBITDA in the subsequent two quarters.

More details: Bridger Aerospace IR

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