Bridger Aerospace Group (BAER) Investor presentation summary

Company overview and industry context

• Operates the largest private Super Scooper fleet for aerial wildfire suppression, offering full-spectrum services including suppression, surveillance, and airframe modification.

• Demand for aerial firefighting is rising due to climate change, population growth in wildfire-prone areas, and federal initiatives increasing funding and restructuring wildfire response.

• Recent legislation and federal budgets have prioritized wildfire mitigation, with the 2026 DOI budget requesting a nearly fourfold increase for suppression operations.

• The global aerial firefighting market is projected to grow from $3.2B in 2024 to $4.7B by 2031, with unfulfilled requests for fixed-wing aircraft increasing sharply.

• Long-term, recurring contracts with federal and state agencies provide predictable revenue and high renewal rates.

Operational highlights and technology

• Fleet includes six Super Scoopers, advanced surveillance aircraft, and special mission platforms with cutting-edge imaging and data transmission.

• IGNIS, an integrated command platform, enhances real-time situational awareness and resource deployment for wildfire response.

• Acquisitions of Ignis Technologies and FMS have expanded capabilities in mapping, intelligence, and airframe modification, supporting both internal and DoD contracts.

• Sensor-enhanced Air Attack contracts and multi-year federal awards drive year-round revenue opportunities.

• Robust infrastructure and maintenance programs enable year-round aircraft operation and high asset utilization.

Financial performance and growth

• Revenue grew 48% in 2024 to $98.6M, with adjusted EBITDA rising to $37.3M and net loss narrowing to $15.6M.

• For the first nine months of 2025, revenue reached $114.3M (up 38% YoY), with adjusted EBITDA at $54.8M and net income of $19.3M.

• Gross profit margin improved to 42% in 2024 and 50% for the first nine months of 2025.

• Completed $49M sale-leaseback and secured $331.5M in new financing, providing flexibility for fleet expansion and contract growth.

• Average Super Scooper payback period is under 5 years, with high ROI and significant standby revenue regardless of usage.