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BELGRADE, Mont. - Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER, BAERW), a leading U.S. aerial firefighting company with a market capitalization of approximately $100 million, announced today that Sam Davis has been appointed as its President and Chief Executive Officer effective immediately. Davis has been the interim CEO since July 2024, following the resignation of the former CEO Timothy P. Sheehy.
Jeffrey Kelter, Executive Chairman of Bridger Aerospace, expressed confidence in Davis’s leadership, highlighting his contributions over the past eight months. Davis’s tenure as interim CEO saw the company achieve significant financial growth, with revenue increasing nearly 48% and EBITDA reaching $24.3 million. According to InvestingPro analysis, while the company maintains strong liquidity with a current ratio of 2.73, the stock has faced challenges, declining over 62% in the past year.
Davis, 41, joined the company in 2019 as Controller and later served as Chief of Staff. His leadership was instrumental during Bridger’s transition to a public company and its subsequent expansion. With a background that includes roles at Oracle, Inc., Meltwater, and Natus Medical, Inc., Davis brings a wealth of experience in financial reporting, capital markets, and strategic collaboration.
In his statement, Davis expressed gratitude for the Board’s support and his commitment to building on the company’s 2024 performance. He emphasized Bridger’s readiness to respond to wildfires, which now pose a year-round threat, as demonstrated by recent operations in Los Angeles and Oklahoma.
Bridger Aerospace, headquartered in Belgrade, Montana, is one of the nation’s largest providers of aerial firefighting and wildfire management services. The company works with federal and state agencies, including the U.S. Forest Service, to combat fires across the country and internationally.
This leadership announcement is based on a press release statement from Bridger Aerospace Group Holdings, Inc.
In other recent news, Bridger Aerospace Group Holdings Inc reported strong financial results for the fourth quarter of 2024, showcasing a significant increase in revenue. The company’s revenue for the full year reached $98.6 million, marking a 48% increase from the previous year. Despite recording a net loss of $15.6 million, this was a substantial improvement compared to the $77.4 million loss in 2023. Bridger Aerospace’s earnings call highlighted the company’s strategic initiatives, including the deployment of firefighting aircraft, which contributed to the revenue surge. The company also set its revenue guidance for 2025 between $105 million and $111 million, with adjusted EBITDA expected to range from $42 million to $48 million. Additionally, Bridger Aerospace is actively exploring opportunities with the Department of Defense and other government contracts to further diversify its revenue streams. The company remains cautious in its guidance, excluding potential impacts from its Spanish aircraft. Investors and analysts are closely monitoring these developments as Bridger Aerospace continues to navigate the aerial firefighting market.
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