BigBear.ai acquires Ask Sage for $250M; reaffirms FY2025 revenue guidance $125M-$140M

BigBear.ai Holdings, Inc.

Definitive agreement to acquire Ask Sage, a GenAI platform for defense/national security, for $250M total: $140M cash plus $110M cash or stock at BigBear.ai's option.
Ask Sage expected to generate ~$25M ARR in 2025, up ~6x from 2024; currently supports 100K+ users across 16K government teams.
Record cash balance of $456.6M as of Sept 30, 2025, up sequentially; balance sheet strengthened to support growth.
Full-year 2025 revenue guidance reaffirmed at $125M-$140M; Q3 2025 detailed earnings not provided in the excerpt.

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