🔹 Revenue: $33.1M (Est. $31.54M) 🟢; DOWN -20% YoY
🔹 EPS: ($0.03) (Est. ($0.07)) 🟢
🔹 Gross Margin: 22.4% (vs. 25.9% YoY)
🔹 Adj EBITDA: ($9.4M)
Balance Sheet & Backlog
🔹 Cash & Equivalents: $456.6M (record high)
🔹 Backlog: $376M
Acquisition
🔹 Agreed to acquire Ask Sage for $250M
🔹 Ask Sage expected to generate ~$25M ARR in 2025 (6x YoY growth)
🔹 Closing expected late Q4’25 / early Q1’26
🔹 Expands secure GenAI + agentic AI capabilities for defense & national security
Outlook
🔹 Reaffirms FY25 Revenue: $125M–$140M
🔹 Notes government shutdown delays but sees strong FY26 federal demand pipeline
Management Commentary
🔸 “The acquisition positions BigBear as a secure, integrated AI platform for mission-critical environments.” – CEO Kevin McAleenan
