Ask Sage Founder Nicholas Chaillan shared:
Why BigBear.ai?
- Scale and stability: Partnering with a publicly traded leader gives agencies the buying confidence, governance, and transparency they expect, plus the balance sheet and delivery capacity to take AI from pilots to enterprise programs across classification levels.
- Software + services, integrated: Ask Sage brings the secure, model-agnostic GenAI platform and agent framework; BigBear.ai brings the mission services muscle for rollout, tuning, integration, and change management. Translation: less friction, more value, faster.
- Enterprise distribution: Cross-sell both ways. We take Ask Sage into BigBear.ai’s federal and commercial footprint (DHS, IC, travel, mobility), and bring BigBear.ai’s mission apps and data sources to the existing Ask Sage user base, with our application marketplace as the accelerator.
- Built for growth, not lock-in: Our cloud- and model-agnostic approach stays the same, now with bigger reach. Agencies get choice across 150+ models, multi-model agents, and deployments from secure cloud to on-prem to the edge, all under strict governance.
- Perfect timing: As federal AI investment ramps in 2026–2027, this combo means while others are still certifying, we’re deploying and scaling, safely, across the missions that matter most.
What changes for me? I will be joining BigBear.ai as Chief Technology Officer to crank product velocity, keep us model-agnostic and mission-first, and make the integrated platform even more composable, secure, and fast to field. No fluff, no vaporware! Just outcomes. What this means for you: – IC and DHS: accelerate accredited AI agents on real mission data, across classification. – DoD and the DIB: scale from enclave pilots to enterprise adoption with zero-trust guardrails. – Regulated industries: deploy secure AI with compliance and auditability from day one.
See the release below.
BigBear.ai Holdings, Inc. (NYSE: BBAI) (“BigBear.ai” or the “Company”), a leader in AI-powered decision intelligence solutions, today announced financial results for the third quarter of 2025 and issued an investor presentation that has been posted to the Investor Relations section of the Company’s website.
“Today, I’m thrilled to announce that BigBear.ai has signed a definitive agreement to acquire Ask Sage, a cutting-edge and fast-growing Generative AI platform for secure distribution of AI models and agentic AI capabilities, built specifically for defense and national security agencies and other highly-regulated sectors. Ask Sage already supports more than 100,000 users on 16,000 government teams and across hundreds of commercial companies. It is a turnkey platform that’s in production today, at scale, in the environments that matter most,” said Kevin McAleenan, CEO of BigBear.ai. “By integrating Ask Sage with BigBear.ai, we are creating what the market has been asking for: a secure, integrated AI platform that connects software, data, and mission services in one place,” continued McAleenan
“Despite delays resulting from the government shutdown, we believe the potential for new business in the field of border security and defense remains strong, and we expect to see those opportunities, including accelerated spending resulting from the One Big Beautiful Bill, to materialize into contracts next year. BigBear.ai remains in a very strong position to benefit from the important task of delivering cutting-edge secure technology solutions to support national defense and the defense industrial base,” continued McAleenan.
“Subject to applicable approvals, we look forward to closing the Ask Sage acquisition and continuing to execute on our M&A strategy to drive rapid growth.” said Sean Ricker, CFO of BigBear.ai.
Financial Highlights
Revenue decreased 20% to $33.1 million for the third quarter of 2025, compared to $41.5 million for the third quarter of 2024 primarily due to lower volume on certain Army programs.
Gross margin was 22.4% in the third quarter of 2025, compared to 25.9% in the third quarter of 2024, primarily due to higher margin programs in the third quarter of 2024 that were not repeated in the third quarter of 2025.
Net income in the third quarter of 2025 was $2.5 million, compared to a net loss of $15.1 million for the third quarter of 2024. The decrease in net loss was primarily driven by non-cash changes in derivative liabilities of $26.1 million associated with changes in the fair value of the convertible features of the 2029 Notes and warrants, offset by an $8 million increase in SG&A.
Non-GAAP Adjusted EBITDA* of $(9.4) million for the third quarter of 2025 compared to $0.9 million for the third quarter of 2024, primarily driven by decreased gross margin as well as an increase in SG&A.
SG&A of $25.3 million for the third quarter of 2025 compared to $17.5 million for the third quarter of 2024. The year-over-year increase was primarily driven by an increase in marketing of $1.4 million, non-recurring strategic initiatives of $2.0 million and SG&A labor and fringe costs of $4.3 million.
Backlog of $376 million as of September 30, 2025…
