BigBear.ai Stock Jumps 7.96% on Strong Q3 Earnings and AI Acquisition
BigBear.ai Holdings saw its shares climb nearly 8% following a dual announcement of profitable third-quarter results and the strategic purchase of Ask Sage, an AI platform specializing in defense applications. The stock closed at $6.16 after intraday volatility.
While quarterly revenue fell 20% year-over-year to $33.1 million due to reduced Army program volumes, the company turned a $2.5 million profit. A $376 million backlog and maintained full-year guidance suggest confidence in long-term growth despite margin compression from shifting contract mix.
The Ask Sage acquisition signals BigBear.ai's aggressive expansion in AI-driven national security solutions. The MOVE comes as defense contractors increasingly prioritize machine learning capabilities for intelligence and cybersecurity applications.
