Why Did BigBear.ai (BBAI) Surge in Premarket Today? Q3 Beat and Ask Sage Acquisition

BigBear.ai Holdings, Inc. (NYSE: BBAI) experienced a dramatic premarket surge on November 11, 2025, with shares jumping approximately 19% to $6.79 as of 5:29 AM EST, following yesterday’s market close price of $5.71. The artificial intelligence company’s stock rally came on the heels of better-than-expected third quarter financial results and a major strategic announcement regarding its acquisition of Ask Sage, a generative AI platform focused on defense and national security sectors.

The dual catalysts have reinvigorated investor confidence in the company’s growth trajectory despite ongoing financial challenges.

BigBear.ai Narrows Loss to $0.03 Per Share and Tops Q3 Estimates

BigBear.ai reported third quarter revenue of $33.1 million, surpassing analyst estimates of $31.82 million, though the figure represented a year-over-year decline of $8.4 million due to reduced work on certain U.S. Army programs.

More impressively, the company posted a GAAP loss per share of $0.03, significantly narrower than the consensus estimate of $0.07 and an improvement from last year’s $0.06 loss, signaling enhanced operational efficiency despite the revenue headwinds.

The company maintained its full-year 2025 revenue guidance between $125 million and $140 million, with a midpoint of $132.5 million slightly below the analyst estimate of $133 million. While the revenue decline reflects challenges in specific government contracts, the narrowing losses and ability to exceed quarterly expectations demonstrate progress in BigBear.ai’s path toward profitability.

The company’s focus on AI-powered decision intelligence solutions for defense and national security continues to position it in a strategic market segment with long-term growth potential.

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$250 Million Ask Sage Deal Adds $25 Million in Expected ARR for 2025

BigBear.ai announced a definitive agreement to acquire Ask Sage for $250 million, a move expected to significantly strengthen the company’s position in the defense AI market. Ask Sage is a generative AI platform built specifically for secure distribution of AI models and agentic AI capabilities in defense, national security, and other highly-regulated sectors.

The platform currently supports more than 100,000 users across 16,000 government teams and hundreds of commercial companies, bringing substantial scale to BigBear.ai’s operations.

Ask Sage is projected to generate approximately $25 million in annual recurring revenue in 2025, representing six-fold growth from the prior year and demonstrating strong market traction. The acquisition is expected to close during the current quarter or the first quarter of 2026. CEO Kevin McAleenan emphasized that the merger will expand BigBear.ai’s addressable market and strengthen its foothold in regulated sectors, while CFO Sean Ricker indicated the company will continue pursuing M&A opportunities to drive growth.

The integration of Ask Sage’s secure AI capabilities positions BigBear.ai to compete more effectively for larger government contracts and accelerates its strategic roadmap in the defense technology sector.

Disclaimer: The author does not hold or have a position in any securities discussed in the article. All stock prices were quoted at the time of writing.