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BigBear.ai Vs. C3.ai: Which is the Better Stock and a Buy?

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Key Takeaways

  • C3.ai posted FY 2025 revenues of $389.1M, up 25%, and expects up to $484.5M in FY 2026 sales.
  • AI landed a $450M U.S. Air Force contract and saw major growth from its Baker Hughes partnership.
  • BigBear.ai faces modest growth, heavy debt, and greater exposure to potential federal budget cuts.

Two small companies, C3.ai, Inc. (AI - Free Report) and BigBear.ai Holdings, Inc. (BBAI - Free Report) , are providing advanced artificial intelligence (AI - Free Report) software, setting them up for significant growth soon. However, let’s examine which AI investment is better for your portfolio. 

Reasons to Be Bullish on C3.ai 

C3.ai provides AI-driven solutions to the Department of Defense (DoD) and the U.S. Army. It has delivered custom AI solutions to the National Science Foundation and the Marine Corps.  

C3.ai secured a contract modification with the U.S. Air Force, raising the ceiling to $450 million from $100 million. Their technology will now help identify maintenance needs for weapon systems, terrestrial equipment, and aircraft.  

Overall, federal government contracts made up about a third of C3.ai’s bookings in fiscal year (FY) 2025, which ended on April 30. The company also boasts a sizable non-governmental client base, including Exxon Mobil Corporation (XOM - Free Report) and Dow Inc. (DOW - Free Report) .  

In FY 2025, C3.ai experienced a significant rise in bookings from the oil and gas industry, mainly due to its strengthened partnership with Baker Hughes Company (BKR - Free Report) , which also boosted sales. In FY 2025, C3.ai’s revenues hit $389.1 million, up 25% year over year. Sales for FY 2026 are projected to range between $447.5 million and $484.5 million. 

Reasons to Be Bullish on BigBear.ai 

BigBear.ai’s AI-powered shipbuilding software is aiding the U.S. Navy in constructing submarines, while its face recognition technology is used in airports for security checks. The company reported revenues of $34.8 million in the first quarter, a 5% increase from a year earlier. Additionally, in 2024, exercising warrants generated $64.7 million.  

BigBear.ai saw leadership changes in 2025, with Kevin McAleenan taking over as CEO in January and the CFO leaving in June. Formerly serving as the U.S. Department of Homeland Security Secretary under the first Trump administration, McAleenan’s experience could help BigBear.ai secure government contracts. 

BigBear.ai or C3.ai: Which is the Superior Stock and a Buy? 

Despite revenue growth, both C3.ai and BigBear.ai remain unprofitable. BigBear.ai reported a net loss of $62 million in the first quarter, while C3.ai posted a net loss of $288.7 million for FY 2025. However, BigBear.ai has substantial debt and only modest sales growth, which limits its stock potential. BigBear.ai held total liabilities of $198.5 million in the first quarter, including $100.6 million in long-term debt. Revenues increased from $145 million in 2021 to $158 million in 2024. 

C3.ai, on the other hand, has a strong balance sheet, with $1 billion in assets and $187.6 million in liabilities for the fiscal fourth quarter. Its cash and cash equivalents of $164.4 million at the end of April surpass BigBear.ai’s $107.6 million as of March, making C3.ai more stable and capable of meeting its financial obligations. 

Although revenues have increased for both companies, potential budget cuts being considered by the Trump administration could affect them differently. BigBear.ai relies heavily on federal government contracts for its revenue, making it particularly vulnerable to these cuts. In contrast, C3.ai’s federal government bookings accounted for only 26% in FY 2025, indicating a lower potential impact on its business.  

From a valuation perspective, C3.ai stock is relatively cheaper than BigBear.ai as its forward price-to-sales (P/S) ratio is 6.87, whereas BigBear.ai’s is 9.13.    

Zacks Investment Research

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Thus, C3.ai stands out over Bigbear.ai with its strong sales growth, robust balance sheet, good cash position, lower susceptibility to government policies and attractive valuations, making it a compelling buy at the moment. C3.ai has a Zacks Rank #2 (Buy), whereas BigBear.ai has a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.

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