COLUMBIA, Md. - BigBear.ai (NYSE: BBAI), a $631 million market cap company specializing in AI-powered decision intelligence, is set to enhance the cybersecurity of U.S. Air Force (USAF) and U.S. Space Force (USSF) assets through a newly announced collaboration with Proof Labs Inc. According to InvestingPro data, the company generated revenues of approximately $155 million in the last twelve months, positioning it as an emerging player in the defense technology sector. As part of the AFWERX Small Business Innovation Research (SBIR) Direct-to-Phase II contract, Proof Labs Inc, serving as the prime contractor, will work with BigBear.ai to develop the Cyber Resilient On-Orbit (CROO) solution.
The CROO solution will utilize BigBear.ai's SpaceCREST technology, which is a digital twin capability designed for real-time monitoring and alerting of cyber threats to satellite networks. The company's stock has shown significant momentum, with InvestingPro data revealing an impressive 85% return over the past six months, though investors should note its high beta of 3.3 indicates substantial volatility. This AI-driven approach aims to detect and classify normal versus compromised behavior in USSF satellite systems by analyzing a broad spectrum of simulated cyberattacks.
The system's advanced machine learning algorithms will be integrated for continuous live monitoring, providing real-time anomaly and intrusion detection for selected USSF space assets. This initiative is expected to significantly enhance the security and resilience of critical space infrastructure against cyber threats.
Robert Wedertz, Senior Vice President, Federal at BigBear.ai, emphasized the importance of the project, stating, "This project represents a significant step forward in safeguarding our nation's space infrastructure." He highlighted the potential of the SpaceCREST digital twin capability, augmented by custom machine learning and anomaly detection, to provide the Department of the Air Force with a robust tool against real-time cyber threats.
The collaboration between BigBear.ai and Proof Labs Inc combines BigBear.ai's expertise in AI-driven analytics with Proof Labs' innovative approach to cybersecurity. Ricardo Aguilar, Co-Founder & CEO of Proof Labs Inc, expressed enthusiasm about developing an advanced AI intrusion detection system for the Air Force Research Laboratory's Space Cyber Resiliency program.
This press release statement indicates a forward-looking initiative aimed at strengthening the cybersecurity posture of U.S. space assets. While BigBear.ai maintains strong liquidity with a current ratio of 2.06, InvestingPro analysis reveals additional crucial insights about the company's financial health and growth prospects. Subscribers can access 11 more exclusive ProTips and a comprehensive Pro Research Report, offering detailed analysis of BBAI's market position and future potential. It is based on a press release statement and does not necessarily reflect the official policy or position of the Department of the Air Force, the Department of Defense, or the U.S. government.
In other recent news, BigBear.ai has secured a significant $165.2 million production contract with the U.S. Army for the Global Force Information Management - Objective Environment project. The company also announced its involvement with the U.S. Navy's Mission Autonomy Proving Ground exercises, showcasing its ConductorOS platform for enhanced maritime domain awareness. Additionally, BigBear.ai implemented its veriScan™ biometric verification system at Denver International Airport and entered into a master service agreement with Heathrow Airport, Europe's largest airport.
The company also appointed Carl Napoletano as its new Chief Operating Officer. These developments were positively received by H.C. Wainwright analysts who reiterated a Buy rating on the company's shares. Furthermore, BigBear.ai was awarded a significant role in a Federal Aviation Administration $2.4 billion IT contract.
These are recent developments that underscore BigBear.ai's growing role in the application of artificial intelligence in the fields of defense and aviation.
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