BigBear.ai Inc (NYSE:BBAI) shares are surging in extended trading on Monday after the company reported better-than-expected results for the third quarter. Here’s what you need to know from the report.
- BBAI shares are climbing with conviction. Track the latest developments here.
Q3 Highlights: BigBear.ai reported third-quarter revenue of $33.14 million, beating estimates of $31.82 million, according to Benzinga Pro. The company reported a third-quarter loss of three cents per share, beating expectations for a loss of seven cents per share.
Total revenue was down 20% year-over-year, primarily due to lower volume on certain Army programs. Gross margin was 22.4% in the quarter, compared to 25.9% in the third quarter of 2024.
BigBear.ai ended the period with a backlog of $376 million. The company also had approximately $456.58 million in total cash and cash equivalents at quarter’s end.
In connection with earnings, BigBear.ai announced that it signed a definitive agreement to acquire Ask Sage, a fast-growing generative AI platform for secure distribution of AI models and agentic AI capabilities. The acquisition is expected to close late in the fourth quarter or early in the first quarter of 2026.
“By integrating Ask Sage with BigBear.ai, we are creating what the market has been asking for: a secure, integrated AI platform that connects software, data and mission services in one place,” said Kevin McAleenan, CEO of BigBear.ai.
Outlook: BigBear.ai affirmed its full-year revenue guidance of $125 million to $140 million versus estimates of $133.53 million.
BigBear.ai executives are currently discussing the quarter on an earnings call that started at 4:30 p.m. ET.
BBAI Price Action: BigBear.ai shares were up 12.82% at $6.46 at the time of publication on Monday, according to Benzinga Pro.
Read Next:
- CoreWeave Beats Q3 Estimates As Revenue Backlog Nearly Doubles
Image: PJ McDonnell/Shutterstock.com