Company Announcements

COLUMBIA, Md.--(BUSINESS WIRE)--Oct. 28, 2024-- BigBear.ai (NYSE: BBAI) today announced a successful installation of veriScan™, BigBear.ai’s biometric verification solution, at the Denver International Airport (DEN). veriScan™ is now deployed at 14 international departure gates at DEN, impacting the boarding process for over 46,600 international departing passengers.

BigBear.ai’s veriScan™ offers a seamless experience for proper identification of individuals traveling internationally in settings with required security protocols. veriScan™ allows airlines at the Denver International Airport to reduce boarding times. The facial biometric process is voluntary for U.S. citizens.

Today, the U.S. Customs and Border Protection (CBP) is congressionally mandated to implement a biometric entry-exit system. Using CBP’s Traveler Verification Service, veriScan™ captures and transmits the traveler’s image to CBP during the boarding process for identity verification. veriScan™ has processed over 28 million passengers since its inception in 2018.

“We are thrilled to see positive results early on from the implementation of veriScan™ at Denver International Airport,” said Kevin McAleenan, President of BigBear.ai. “I applaud DEN for their dedication to focus on security protocols using innovative technologies across 13 airlines.”

Travelers who wish to opt out of the new biometric process may notify an airline official or a CBP officer as they approach the departure gate. These travelers will be required to present a valid travel document for inspection by the gate agent and they will be processed consistent with existing requirements for departure from the United States.

CBP is committed to its privacy obligations and has taken steps to safeguard the privacy of all travelers. CBP has employed strong technical security safeguards and has limited the amount of personally identifiable information used in the facial biometric process. Photos of U.S. citizens will be deleted within 12 hours. Photos of foreign nationals who are statutorily required to provide biometrics will be stored in a secure Department of Homeland Security system.

About BigBear.ai

BigBear.ai is a leading provider of AI-powered decision intelligence solutions for national security, digital identity, and supply chain management. Customers and partners rely on BigBear.ai’s artificial intelligence and predictive analytics capabilities in highly complex, distributed, mission-based operating environments. Headquartered in Columbia, Maryland, BigBear.ai is a public company traded on the NYSE under the symbol BBAI. For more information, visit https://bigbear.ai and follow BigBear.ai on LinkedIn: @BigBear.ai, and X: @BigBearai. To receive email communications from BigBear.ai, register here.

Forward-Looking Statements

This press release contains “forward-looking statements.” Such statements include, but are not limited to, statements regarding the intended use of proceeds from the private placement and may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political, and legal conditions; risks related to the uncertainty of the projected financial information (including on a segment reporting basis); risks related to delays caused by factors outside of our control, including changes in fiscal or contracting policies or decreases in available government funding; changes in government programs or applicable requirements; budgetary constraints, including automatic reductions as a result of “sequestration” or similar measures and constraints imposed by any lapses in appropriations for the federal government or certain of its departments and agencies; influence by, or competition from, third parties with respect to pending, new, or existing contracts with government customers; our ability to successfully compete for and receive task orders and generate revenue under Indefinite Delivery/Indefinite Quantity contracts; potential delays or changes in the government appropriations or procurement processes, including as a result of events such as war, incidents of terrorism, natural disasters, and public health concerns or epidemics; and increased or unexpected costs or unanticipated delays caused by other factors outside of our control, such as performance failures of our subcontractors; risks related to the rollout of the business and the timing of expected business milestones; the effects of competition on our future business; our ability to issue equity or equity-linked securities in the future, and those factors discussed in the Company’s reports and other documents filed with the SEC, including under the heading “Risk Factors.” More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the SEC, including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise, except as required by law.

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Source: BigBear.ai