BigBear.ai Holdings, Inc.BBAI sees changing global trade and mobility patterns as a potential growth engine for its applied AI solutions. Management believes increasingly complex trade regulations, supply-chain security concerns and border-management challenges are pushing governments and businesses to invest in new technology.
CargoSeer is central to this opportunity. The AI-powered cargo inspection platform combines X-ray imagery, import-export documents and structured trade data in one workflow. In El Salvador, BigBear.ai recently signed a five-year commercial deployment agreement following a successful 12-month pilot, marking CargoSeer’s first deployment in Central America. The system helps customs officials detect contraband, collect appropriate duties and keep legitimate trade moving.
The potential market is sizable. Global merchandise trade totals roughly $26 trillion annually, while ports and border crossings face rising volumes, security threats and limited resources. CargoSeer uses AI and computer vision to compare cargo scans with declarations and other trade data, flagging anomalies. Importantly, the platform can be configured for individual countries and updated as trade patterns and risks change. Management said that the El Salvador deployment is already attracting interest from customs agencies elsewhere.
BigBear.ai enters this opportunity with improving business momentum. Second-quarter 2026 revenues rose 13% year over year to $36.7 million, gross margin expanded 781 basis points to 32.8%, and backlog increased 9% from 2025-end to $269.6 million. The company also reaffirmed its 2026 revenue guidance of $135-$165 million.
Global trade could therefore provide BigBear.ai with another route to scale beyond its defense-focused operations. The key will be converting growing international interest in CargoSeer into additional long-term commercial deployments.
Palantir and Parsons Target Similar AI-Led Opportunities
BigBear.ai faces competition from Palantir TechnologiesPLTR and Parsons CorporationPSN as governments and businesses increase spending on AI-driven trade, border security and supply-chain solutions. Palantir offers its Artificial Intelligence Platform for supply-chain and procurement operations, including tools that help companies respond to changing tariffs, supplier risks and material shortages. Palantir also offers AI-based export-control capabilities designed to improve import/export compliance and classification.
Parsons competes more directly in border and national-security applications. Parsons combines AI, surveillance, communications and command-and-control technologies to help government agencies detect illicit activity and manage complex border environments. Its broader portfolio includes border security, biometrics and AI-enabled threat detection.
For BigBear.ai, CargoSeer provides differentiation through its focus on AI-assisted cargo inspection and customs workflows. However, Palantir brings significant data-integration capabilities, while Parsons has extensive border-security experience. BigBear.ai’s ability to turn CargoSeer’s early international traction into broader deployments will determine how effectively it competes with Palantir and Parsons.
Shares of BBAI have plunged 17% over the past six months, underperforming the Zacks Computers - IT Services industry, as shown below.
BBAI’s 6-Month Price Performance
Image Source: Zacks Investment Research
BBAI stock is currently trading at a discount compared with the industry peers, with a forward 12-month price-to-sales (P/S) ratio of 9.64, as evidenced by the chart below.
P/S Ratio (F12M)
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for BBAI’s 2026 loss per share has widened in the past 30 days, as shown below. However, the estimated figure indicates a narrower loss than the year-ago loss of 82 cents per share.
EPS Trend of BBAI
Image Source: Zacks Investment Research
BBAI’s Zacks Rank
BigBear.ai currently carries a Zacks Rank #4 (Sell).
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