To Extract
To Pull Something Out
transitive verb, godan verb
You know 抜く means "to extract" and 出す means "to remove," so this word means to extract or to pull something out.
More specifically, 抜き出す means to pull something out from a larger set of something. For example, this could mean taking a single bill out of your wallet, or selecting specific data from a large dataset.
The readings are from 抜く and 出す, combined together. Know those two and you'll be able to read this word as well.
彼は背広から銃をそっと抜き出した。
He secretly started to pull a gun out of his business suit.