SIGA Reports Financial Results for Three and Six Months Ended June 30, 2025

Rhea-AI Summary

SIGA Technologies (NASDAQ: SIGA) reported strong financial results for Q2 2025, with significant product revenue growth. The company generated $79.1 million in product sales, primarily from delivering oral TPOXX ($53 million) and IV TPOXX ($26 million) to the Strategic National Stockpile.

The company secured additional development funding of $27 million under the BARDA 19C contract, including $13 million for the TPOXX pediatric program and $14 million for manufacturing support activities. Net income reached $35.5 million ($0.49 per diluted share), compared to $1.8 million ($0.03 per share) in Q2 2024.

SIGA also declared and paid a special cash dividend of $0.60 per share to shareholders of record as of April 29, 2025.

Positive

• Product sales increased by 282% to $79.1 million in Q2 2025 from $20.7 million in Q2 2024
• Secured $27 million in additional BARDA development funding
• Net income grew significantly to $35.5 million from $1.8 million year-over-year
• Operating income increased to $45.7 million from $1.1 million in Q2 2024
• Returned value to shareholders through $0.60 per share special dividend

Negative

• None.

Insights

Financial Analyst

SIGA delivered exceptional Q2 results with 282% revenue growth and secured additional government development funding, demonstrating strong business momentum.

SIGA's Q2 2025 results showcase remarkable growth with product sales jumping to $79.1 million from $20.7 million in Q2 2024 – a stunning 282% year-over-year increase. This performance drove total quarterly revenues to $81.1 million, with operating income surging to $45.7 million compared to just $1.1 million in the prior-year period.

The revenue composition reveals a well-balanced product mix: $53 million from oral TPOXX and $26 million from IV TPOXX, both delivered to the Strategic National Stockpile. This diversification in delivery methods strengthens SIGA's market position.

Beyond current sales, SIGA secured $27 million in additional development funding under the BARDA 19C contract during Q2, with $13 million earmarked for the pediatric TPOXX program and $14 million for manufacturing support. This funding not only provides immediate revenue recognition but signals continued government confidence in TPOXX's importance for national preparedness.

The company's profitability metrics are equally impressive, with net income reaching $35.5 million ($0.49 per diluted share) versus $1.8 million ($0.03 per diluted share) year-over-year. The operating margin expanded dramatically, reflecting the higher sales volume and efficient operational execution.

SIGA's capital return policy remains shareholder-friendly, with a special dividend of $0.60 per share distributed in May 2025, demonstrating management's commitment to returning excess capital while maintaining flexibility for future growth initiatives.

NEW YORK, Aug. 05, 2025 (GLOBE NEWSWIRE) --

• Generated Product Revenues of $79 million for the Three Months Ended June 30
• Awarded Additional Development Funding of $27 million under the BARDA 19C Contract during the Three Months Ended June 30
• Corporate Update Conference Call Today at 4:30 PM ET
  

SIGA Technologies, Inc. (SIGA) (Nasdaq: SIGA), a commercial-stage pharmaceutical company, today reported financial results for the three and six months ended June 30, 2025.

“In the second quarter, we achieved two positive milestones: significant product revenues and expanded development funding under the BARDA 19C contract,” stated Diem Nguyen, Chief Executive Officer. “Specifically, in the second quarter, we recorded approximately $53 million of oral TPOXX sales and $26 million of IV TPOXX sales in connection with deliveries to the Strategic National Stockpile. Additionally, we were awarded incremental development funding of about $13 million for the TPOXX pediatric program and $14 million for activities to support manufacturing, which brings total new development funding under the BARDA 19C contract to $27 million. We believe the scale and scope of this activity highlight the breadth and strength of our business model and the value of TPOXX to treat smallpox.”

Summary Financial Results

($ in millions, except per share amounts)	Three Months Ended June 30				Six Months Ended June 30
	2025		2024		2025		2024
Product sales(1)	$79.1		$20.7		$84.9		$44.6
Total revenues(2)	$81.1		$21.8		$88.2		$47.2
Operating income(3) (4)	$45.7		$1.1		$43.4		$12.4
Income before income taxes(3)	$47.3		$2.4		$46.7		$15.6
Net income	$35.5		$1.8		$35.1		$12.1
Diluted income per share	$0.49		$0.03		$0.49		$0.17

(1) Includes supportive services related to product sales.
(2) Includes research and development revenues.
(3) Operating income excludes, and income before income taxes includes, other income. Both line items exclude the impact of income taxes.
(4) Differences in operating income margin between periods reflects different product mixes in those periods.

Key Business and Operational Activity:

• In the second quarter of 2025, the Company generated approximately $53 million of oral TPOXX revenues and $26 million of IV TPOXX revenues in connection with deliveries to the SNS. 
• In June 2025, the Company’s BARDA 19C contract (with the U.S. Government) was modified to add $13 million of funding to the Company’s TPOXX pediatric development program. In combination with the $14 million of funding added in April 2025 to support manufacturing activities, $27 million of development funding has been added to the BARDA 19C contract during the second quarter.

Capital Management Activity:

On April 8, 2025, a special cash dividend of $0.60 per share was declared. This dividend was paid on May 15, 2025 to shareholders of record at the close of business on April 29, 2025.

Conference Call and Webcast

SIGA will host a conference call and webcast to provide a business update today, Tuesday, August 5, 2025, at 4:30 P.M. ET.

Participants may access the call by dialing 1-800-717-1738 for domestic callers or 1-646-307-1865 for international callers. A live webcast of the call will also be available on the Company's website at www.siga.com in the Investor Relations section of the website, or by clicking here. Please log in approximately 5-10 minutes prior to the scheduled start time.

A replay of the call will be available for two weeks by dialing 1-844-512-2921 for domestic callers or 1-412-317-6671 for international callers and using Conference ID: 1130215. The archived webcast will be available in the Investor Relations section of the Company's website.

ABOUT SIGA

SIGA is a commercial-stage pharmaceutical company and leader in global health focused on the development of innovative medicines to treat and prevent infectious diseases. With a primary focus on orthopoxviruses, we are dedicated to protecting humanity against the world’s most severe infectious diseases, including those that occur naturally, accidentally, or intentionally. Through partnerships with governments and public health agencies, we work to build a healthier and safer world by providing essential countermeasures against these global health threats. Our flagship product, TPOXX® (tecovirimat), is an antiviral medicine approved in the U.S. and Canada for the treatment of smallpox and authorized in Europe, the UK, and Japan for the treatment of smallpox, mpox (monkeypox), cowpox, and vaccinia complications. For more information about SIGA, visit www.siga.com.

FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements relating to SIGA’s future business development and plans. Forward-looking statements include statements regarding our future financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations. The words “may,” “continue,” “estimate,” “intend,” “plan,” “will,” “believe,” “project,” “expect,” “seek,” “anticipate,” “could,” “should,” “target,” “goal,” “potential” and similar expressions may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. Such forward-looking statements are subject to various known and unknown risks and uncertainties, and SIGA cautions you that any forward-looking information provided by or on behalf of SIGA is not a guarantee of future performance. SIGA’s actual results could differ materially from those anticipated by such forward-looking statements due to a number of factors, some of which are beyond SIGA’s control, including, but not limited to, (i) the risk that SIGA may not complete performance under the BARDA Contract on schedule or in accordance with contractual terms, (ii) the risk that the BARDA Contract or U.S. Department of Defense contracts are modified or canceled at the request or requirement of, or SIGA is not able to enter into new contracts to supply TPOXX® to, the U.S. Government, (iii) the risk that the nascent international biodefense market does not develop to a degree that allows SIGA to continue to successfully market TPOXX® internationally, (iv) the risk that potential products, including potential alternative uses or formulations of TPOXX® that appear promising to SIGA or its collaborators, cannot be shown to be efficacious or safe in subsequent pre-clinical or clinical trials, (v) the risk that target timing for deliveries of product to customers, and the recognition of related revenues, are delayed or adversely impacted by the actions, or inaction, of contract manufacturing organizations, or other vendors, within the supply chain, or due to coordination activities between the customer and supply chain vendors, (vi) the risk that SIGA or its collaborators will not obtain or maintain appropriate or necessary governmental approvals to market these or other potential products or uses, (vii) the risk that SIGA may not be able to secure or enforce sufficient legal rights in its products, including intellectual property protection, (viii) the risk that any challenge to SIGA’s patent and other property rights, if adversely determined, could affect SIGA’s business and, even if determined favorably, could be costly, (ix) the risk that regulatory requirements applicable to SIGA’s products may result in the need for further or additional testing or documentation that will delay or prevent SIGA from seeking, obtaining or maintaining needed approvals to market these products, (x) the risk that the volatile and competitive nature of the biotechnology industry may hamper SIGA’s efforts to develop or market its products, (xi) the risk that changes in domestic or foreign economic and market conditions may affect SIGA’s ability to advance its research or may affect its products adversely, (xii) the effect of federal, state, and foreign regulation, including drug regulation, on SIGA’s businesses, (xiii) the impacts of significant recent shifts in trade policies, including the imposition of tariffs, retaliatory tariff measures, and subsequent modifications or suspensions thereof, and market reactions to such policies and resulting trade disputes, (xiv) the risk of disruptions to SIGA’s supply chain for the manufacture of TPOXX®, causing delays in SIGA’s research and development activities, causing delays or the re-allocation of funding in connection with SIGA’s government contracts, or diverting the attention of government staff overseeing SIGA’s government contracts, (xv) risks associated with actions or uncertainties surrounding the debt ceiling or the changes in the U.S. administration, and (xvi) the risk that the U.S. or foreign governments' responses (including inaction) to national or global economic conditions or infectious diseases, are ineffective and may adversely affect SIGA’s business, as well as the risks and uncertainties included in Item 1A “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2024 and SIGA's subsequent filings with the Securities and Exchange Commission. SIGA urges investors and security holders to read those documents free of charge at the SEC's website at http://www.sec.gov. All such forward-looking statements are current only as of the date on which such statements were made. SIGA does not undertake any obligation to update publicly any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events. The information contained on any website referenced in this Form 10-Q is not incorporated by reference into this filing.

Contacts:
Suzanne Harnett
sharnett@siga.com

and

Investors	Media
Jennifer Drew-Bear, Edison Group Jdrew-bear@edisongroup.com	Holly Stevens, CG Life hstevens@cglife.com

SIGA TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
As of
	June 30, 2025			December 31, 2024
ASSETS
Current assets
Cash and cash equivalents	$	182,463,084		$	155,400,262
Accounts receivable		6,486,378			21,166,129
Inventory		35,617,037			49,563,880
Prepaid expenses and other current assets		4,636,464			4,914,613
Total current assets		229,202,963			231,044,884
Property, plant and equipment, net		1,049,022			1,298,423
Deferred tax asset, net		3,967,201			10,854,702
Goodwill		898,334			898,334
Other assets		212,696			240,683
Total assets	$	235,330,216		$	244,337,026
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable	$	1,192,161		$	1,340,337
Accrued expenses and other current liabilities		7,107,421			5,640,110
Deferred IV TPOXX® revenue		10,240,000			10,330,800
Income tax payable		4,178,260			8,020,366
Total current liabilities		22,717,842			25,331,613
Other liabilities		3,300,326			3,200,650
Total liabilities		26,018,168			28,532,263
Commitments and contingencies
Stockholders’ equity
Common stock ($.0001 par value, 600,000,000 shares authorized, 71,539,755 and 71,404,669, issued and outstanding at June 30, 2025 and December 31, 2024, respectively)		7,154			7,140
Additional paid-in capital		240,580,034			238,635,635
Accumulated deficit		(31,275,140	)		(22,838,012	)
Total stockholders’ equity		209,312,048			215,804,763
Total liabilities and stockholders’ equity	$	235,330,216		$	244,337,026

SIGA TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(UNAUDITED)
	Three Months Ended June 30,							Six Months Ended June 30,
	2025				2024			2025				2024
Revenues
Product sales and supportive services	$	79,124,860			$	20,675,317		$	84,946,107			$	44,553,994
Research and development		1,995,144				1,135,574			3,214,711				2,686,752
Total revenues		81,120,004				21,810,891			88,160,818				47,240,746
Operating expenses
Cost of sales and supportive services		25,554,462				12,311,685			25,712,200				15,536,999
Selling, general and administrative		5,487,576				5,530,423			11,163,238				13,406,196
Research and development		4,398,097				2,888,944			7,860,910				5,942,313
Total operating expenses		35,440,135				20,731,052			44,736,348				34,885,508
Operating income		45,679,869				1,079,839			43,424,470				12,355,238
Other income, net		1,592,304				1,317,996			3,277,288				3,260,433
Income before income taxes		47,272,173				2,397,835			46,701,758				15,615,671
Provision for income taxes		(11,789,070	)			(565,219	)		(11,626,878	)			(3,505,715	)
Net and comprehensive income	$	35,483,103			$	1,832,616		$	35,074,880			$	12,109,956
Basic income per share	$	0.50			$	0.03		$	0.49			$	0.17
Diluted income per share	$	0.49			$	0.03		$	0.49			$	0.17
Weighted average shares outstanding: basic		71,465,521				71,152,572			71,446,629				71,123,113
Weighted average shares outstanding: diluted		71,748,888				71,753,231			71,678,838				71,748,362

FAQ

What were SIGA's Q2 2025 earnings results?

SIGA reported $79.1 million in product sales, total revenues of $81.1 million, and net income of $35.5 million ($0.49 per diluted share) for Q2 2025.

How much additional BARDA funding did SIGA receive in Q2 2025?

SIGA received $27 million in additional BARDA funding, including $13 million for the TPOXX pediatric program and $14 million for manufacturing support activities.

What was SIGA's special dividend payment in 2025?

SIGA paid a special cash dividend of $0.60 per share on May 15, 2025 to shareholders of record as of April 29, 2025.

How much TPOXX revenue did SIGA generate in Q2 2025?

SIGA generated $53 million from oral TPOXX sales and $26 million from IV TPOXX sales to the Strategic National Stockpile.

What was SIGA's year-over-year revenue growth in Q2 2025?

SIGA's product sales grew by 282% to $79.1 million in Q2 2025 from $20.7 million in Q2 2024.