The analysis reviews BigBear.ai's stock performance, noting a 25% decrease in the last month. Despite long-term potential, the stock is currently overvalued. The analyst cites the One Big Beautiful Bill as a potential catalyst, allocating $170B to Homeland Security and $150B to Department of Defense for disruptive defense technology, benefiting BigBear.ai. However, the most recent quarter saw the loss of government contracts due to government efficiency efforts, partnering Elon Musk and Donald Trump in a cost-cutting effort. BigBear.ai biometric traveler processing solutions are deployed in over 2000 devices across 500 gates and 25 airports. The management team announced $390 million cash to support new growth with urgency, but took about a $75 million goodwill impairment in the current quarter on previous investments, valuing the stock at $1.96, against a current $5.49 market price.