Tim Sheehy | Tim Sheehy Website
Tim Sheehy | Tim Sheehy Website
Montana-based Bridger Aerospace issued a statement this week to correct what it says are politically-motivated attacks on its business.
The company says political candidates and organizations have disparaged the company. According to a statement by Bridger, the political groups "have assembled a mosaic of publicly available information, out of context corporate statements and negative legal risk factors and disclaimers to weave together an unflattering narrative” about the company.
A recent ad by the Jon Tester Senate campaign made reference to the company because it was founded by Tim Sheehy, Tester's opponent for the Senate seat.
Other statements claim the company’s 2023 financial reports showed weaknesses due to losses. In its statement, Bridger says a large portion of the loss related to "stock-based compensation expenses associated with equity grants to Bridger team members.”
Bridger grants stock ownership to all of its full-time employees "to ensure that all team members participate in the success of the Company,” according to the statement.
The losses also resulted from Bridger’s investments in its aircraft fleet, "related assets,” and costs related to transitioning to a public company.
Bridger markets itself as "a Montana success story.” Sheehy founded the group in 2014 to use the technology and tactics he learned in the military to fight wildfires. The company says it has contributed "hundreds of millions of dollars of revenue to the Montana economy, created hundreds of jobs and given back to our community.”
Bridger reported revenue of $67 million in 2023, its highest ever. It is one of a few publicly-traded companies in Montana, and is listed on NASDAQ. The company has more than 150 employees and contractors, many of whom are veterans. The company said it is anticipating a record year in 2024 as the annual fire season begins.
Sheehy is running as a Republican to challenge Senator Jon Tester, a Democrat, for the Senate seat Tester has held since 2007. Donald Trump, who will be on Montana ballots in the November election, won the state by nearly 17 points in 2020.
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