BigBear.ai Holdings, Inc. (NYSE: BBAI), a leader in AI-powered decision intelligence solutions, has announced its financial results for the third quarter of 2025 and confirmed a definitive agreement to acquire Ask Sage, a fast-growing Generative AI platform designed for secure deployment of AI models and agentic AI capabilities in defense, national security, and other highly regulated sectors. Kevin McAleenan, CEO of BigBear.ai, stated that the acquisition of Ask Sage represents a strategic step toward delivering a unified, secure AI platform that integrates software, data, and mission-critical services in one environment. He emphasized that Ask Sage is already in production across more than 100,000 users on 16,000 government teams and hundreds of commercial organizations, making it a turnkey solution ready for immediate scale. The acquisition is expected to close in the fourth quarter of 2025 or early in the first quarter of 2026, subject to regulatory approvals. BigBear.ai does not anticipate the financial results of Ask Sage to materially impact its consolidated 2025 performance. Despite challenges from the recent government shutdown, McAleenan expressed confidence in strong future demand, particularly in border security and defense, driven by anticipated spending increases from legislation such as the One Big Beautiful Bill. He affirmed BigBear.ai’s strong position to deliver secure, cutting-edge technology to support national defense and the defense industrial base. Sean Ricker, CFO of BigBear.ai, highlighted the company’s ongoing commitment to its M&A strategy to drive rapid growth and enhance its market leadership. Financially, BigBear.ai reported revenues of $33.1 million for the third quarter of 2025, down from $41.5 million in the same period of 2024. The company posted a net income of $2.5 million for the quarter, compared to a net loss of $15.1 million in 2024. For the nine months ended September 30, 2025, the company reported a net loss of $288.1 million, compared to $157.4 million in the prior year. Gross margin declined to 22.4% in the third quarter of 2025 from 25.9% in 2024, primarily due to increased costs related to restructuring, strategic initiatives, and goodwill impairment. Adjusted EBITDA for the quarter was a loss of $9.4 million, compared to a gain of $948,000 in the prior year. The company ended the quarter with $456.6 million in cash and cash equivalents, up from $50.1 million at the end of 2024, reflecting proceeds from recent equity offerings and the repurchase of debt. BigBear.ai continues to project full-year 2025 results in line with its prior guidance, with the Ask Sage acquisition expected to expand its capabilities in secure AI deployment and strengthen its position in government and defense markets. The company remains focused on executing its growth strategy, including further integration of acquired technologies and expansion into new mission-critical applications.