BigBear.ai Stock Surges on Q3 Earnings Beat and Ask Sage Acquisition
BigBear.ai (BBAI) shares climbed more than 7% in extended trading after reporting third-quarter results that exceeded analyst expectations. The company also announced its acquisition of Ask Sage, a generative AI platform tailored for secure defense and national security applications. This MOVE is poised to strengthen BBAI's Agentic AI offerings in regulated sectors.
Revenue for the quarter fell 20% year-over-year to $33.1 million, attributed to reduced volume on certain U.S. Army programs. Despite the decline, the figure surpassed the $31.81 million consensus estimate. The net loss narrowed to $0.03 per share, outperforming both the expected $0.07 loss and the prior year's $0.06 loss.
Wall Street maintains a Moderate Buy rating on BBAI, with a $5.83 average price target suggesting modest upside. Analyst estimates are likely to be revised following the earnings release and acquisition news.
