Overview
- BigBear.ai announced a definitive deal to acquire Ask Sage for $250 million, targeting close by the first quarter of 2026 with no material impact expected on 2025 results.
- Ask Sage reports about 100,000 users across 16,000 government teams and hundreds of commercial customers, with ARR projected to reach roughly $25 million in 2025.
- The company posted Q3 revenue of $33.1 million and a loss of $0.03 per share, beating consensus despite a roughly 20% year-over-year revenue decline.
- Underlying metrics remained pressured, including gross margin compression to 22.4% and adjusted EBITDA of about negative $9.4 million.
- Shares spiked as much as roughly 22% earlier in the week before pulling back Thursday, as management reaffirmed 2025 revenue guidance of $125 million to $140 million and an analyst highlighted the deal as a potential 2026 swing factor.