The increase is also partially due to the non-cash impairment charges associated with our plan to phase out certain aging aircraft as I mentioned before. Interest expense for the fourth quarter of 2023 decreased to $6 million down from $7 million in the fourth quarter of 2022. For the fourth quarter, we reported a net loss of $31.1 million compared to a net loss of $17 million in the fourth quarter of 2022. Adjusted EBITDA was negative $10.4 million compared to negative $8.5 million in the fourth of 2022. We ended the year with cash, restricted cash and short-term investments of $37.9 million and outstanding long-term debt of just under $207 million. Looking at Bridger’s standalone operations for the full year 2024, including our six Scoopers, adjusted EBITDA is anticipated to range from $35 million to $51 million on revenues of $70 million to $86 million.
This guidance, which is in line with our prior guidance issued in November 2023, includes the impact of recent reductions to the company’s largely fixed cost structure and excludes any impact from the Spanish Super Scoopers acquired by the joint venture partnership between Marathon Asset Management LP, Avenue Sustainable Solutions Fund and Bridger Aerospace, which are undergoing maintenance work in order to be returned to service. Also despite the early start to the wildfire season, given the company’s largely fixed cost structure, Bridger is expected to generate negative adjusted EBITDA in the first quarter of 2024 with positive adjusted EBITDA anticipated in the second and third quarters. With that, I’d like to turn the call back to Tim for final comments.
Tim Sheehy: Thanks, Eric, and thank you to everyone for joining us on today’s call and for your support. While our first year as a public company was not without its challenges with a profitable business model, strong fundamentals and strict cost controls, we reported record results and are well positioned for 2024. We continue to pursue opportunities to expand our aerial firefighting services to new mission critical areas and geographies, and are receiving an unprecedented influx of requests from multiple foreign governments for wildfire suppression and technology services. This is due both to the global demand for Super Scoopers and surveillance aircraft fed by the limited supply of functional Super Scooper and the heightened awareness of the effectiveness of these purpose built aircraft.
With these specialized aircraft, our high quality team and innovative use of technology and data, we are uniquely positioned to drive stakeholder returns while supporting our federal and state government clients in the growing battle against wildfires. We look forward to updating you on our progress when we report our first quarter results in May. If anyone has any follow-up questions, please reach out to our Investor Relations contact found on the IR section of our website. Thank you and have a great day.
End of Q&A: Thank you, Mr. Sheehy. Ladies and gentlemen, that will conclude the Bridger Aerospace fourth quarter 2023 earnings conference call. We’d like to thank you all so much for joining us and wish you all a great remainder of your day. Good-bye.
