Overview
- Third-quarter revenue was $33.1 million, down about 20% year over year on reduced U.S. Army work but above the roughly $31.8 million consensus.
- The company posted a net loss of $0.03 per share, beating expectations for a $0.07 loss.
- BigBear.ai affirmed a 2025 revenue outlook of $125 million to $140 million.
- It agreed to buy Ask Sage for $250 million, adding about $25 million in annual recurring revenue, with closing targeted for late 2025 or early 2026.
- Shares rose roughly 23% in premarket trading after the announcements, as the company also highlighted a $376 million backlog and $456.6 million in cash.