SIGA (NASDAQ: SIGA) Q1 2026 revenue falls as net loss widens
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
SIGA Technologies reported a net loss for the three months ended March 31, 2026 as revenues declined compared with the prior-year quarter. Total revenues were $6.2 million versus $7.0 million a year earlier, while the net and comprehensive loss widened to $3.5 million from $0.4 million.
Product sales and supportive services were $3.5 million, down from $5.8 million, and operating loss increased to $5.3 million. The balance sheet showed cash and cash equivalents of $145.6 million and total assets of $219.4 million. A dividend payable of $43.0 million contributed to higher current liabilities and a decline in stockholders’ equity to $151.6 million.
Positive
- None.
Negative
- Total revenues declined from $7.0 million to $6.2 million and net loss widened from $0.4 million to $3.5 million for the quarter, while a new $43.0 million dividend payable materially increased current liabilities and reduced stockholders’ equity.
Insights
Q1 2026 shows lower revenue, a wider loss, and a large dividend accrual.
SIGA generated total revenues of $6.24M for the quarter ended March 31, 2026, down from $7.04M a year earlier, driven by lower product sales and supportive services. Net loss expanded to $3.45M, and operating expenses rose to $11.56M.
On the balance sheet, cash and cash equivalents remained strong at $145.56M, but a new dividend payable of $43.03M increased current liabilities and reduced total stockholders’ equity from $198.82M to $151.62M. Actual cash outflow timing for the dividend will matter for future liquidity, alongside execution of planned TPOXX deliveries of more than $35M across the second and third quarters of 2026.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Total revenues Q1 2026: $6.24M
Total revenues Q1 2025: $7.04M
Net and comprehensive loss Q1 2026: $3.45M
+5 more
8 metrics
Total revenues Q1 2026
$6.24M
Three months ended March 31, 2026
Total revenues Q1 2025
$7.04M
Three months ended March 31, 2025
Net and comprehensive loss Q1 2026
$3.45M
Three months ended March 31, 2026
Net and comprehensive loss Q1 2025
$0.41M
Three months ended March 31, 2025
Cash and cash equivalents
$145.56M
As of March 31, 2026
Dividend payable
$43.03M
Current liability as of March 31, 2026
Total stockholders’ equity
$151.62M
As of March 31, 2026
Basic and diluted loss per share
$0.05
Three months ended March 31, 2026
Key Terms
Deferred revenue, Accumulated deficit, Dividend payable, Forward-looking statements, +1 more
5 terms
Deferred revenue financial
"Deferred revenue | | | 8,884,121 | | | | 10,240,000 |"
Cash a company has already received for goods or services it has promised but not yet delivered; it's recorded as a liability because the company still owes that product, service, or future revenue recognition. For investors, deferred revenue signals upcoming work or deliveries that will convert into reported sales over time and affects short-term obligations, cash flow quality, and how quickly a firm can grow recognized revenue—think of it like prepaid subscriptions or gift cards a business must honor later.
Accumulated deficit financial
"Accumulated deficit | | | (90,442,741 | ) | | | (43,070,803 | )"
Accumulated deficit is the running total of a company’s past net losses minus any profits, showing how much the business has eaten into its own funds over time—think of it like a bank account that’s been overdrawn by repeated shortfalls. It matters to investors because a large accumulated deficit reduces the cushion that protects owners and creditors, can limit dividends or borrowing, and signals how much funding the company may need to reach profitability.
Dividend payable financial
"Dividend payable | | | 43,034,458 | | | | — |"
Forward-looking statements regulatory
"This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Deferred tax asset financial
"Deferred tax asset, net | | | 5,086,458 | | | | 4,428,519 |"
A deferred tax asset is an accounting recognition that a company expects to pay less tax in the future because of past losses or timing differences between accounting and tax rules; think of it as an IOU from the tax system that can reduce future tax bills. It matters to investors because it can boost future cash flow and reported profits if the company generates enough taxable income to use it, but its value depends on realistic prospects for future earnings.
Earnings Snapshot
Total revenues: $6.24M · Guidance included
Q1 2026
Total revenues
$6.24M
Net and comprehensive loss
$3.45M
Basic and diluted loss per share
$0.05
Guidance
Management expects to deliver more than $35 million of oral and IV TPOXX across the second and third quarters of 2026 to U.S. Government and international customers.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 7, 2026
(Exact name of registrant as specified in its charter)
|
|
|
|
|
(State or other jurisdiction of incorporation or organization)
|
(Commission file number)
|
(I.R.S. employer identification no.)
|
|
|
|
|
|
(Address of principal executive offices)
|
(Zip code)
|
Registrant’s telephone number, including area code: (212 )
672-9100
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Securities registered pursuant to Section 12(b) of the Act:
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
|
|
|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter)
or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 2.02 |
Results of Operations and Financial Condition.
|
On May 7, 2026, SIGA Technologies, Inc. (the “Company”) issued a press release (the “Press Release”) announcing its financial results
for the three months ended March 31, 2026.
Pursuant to General Instruction B.2 of Form 8-K, the information contained in, or incorporated into, this Item 2.02, including the
Press Release, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),or otherwise subject to the liabilities of that section, nor shall it be deemed
incorporated by reference into any registration statement or other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference to such filing.
The full text of the Press Release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
| Item 9.01. |
Financial Statements and Exhibits.
|
|
(d)
|
The following exhibits are included in this report:
|
|
Exhibit
No.
|
Description
|
|
|
99.1
|
Earning Press Release issued on May 7, 2026.
|
|
|
104
|
Cover Page Interactive Data File (embedded within the Inline XBRL document).
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
|
SIGA TECHNOLOGIES, INC.
|
||
|
By:
|
/s/ Daniel J. Luckshire
|
|
|
Name:
|
Daniel J. Luckshire
|
|
|
Title:
|
Chief Financial Officer
|
|
|
Date: May 7, 2026
|
||
Exhibit 99.1
 |
Press Release
|
SIGA Reports Financial Results for Three Months Ended March 31, 2026 and Provides Business Update
| ■ |
On Track to Deliver $13 Million of Oral TPOXX to an International Customer in Second Quarter
|
| ■ |
Expect to Deliver $26 Million of IV TPOXX to the U.S. Government Strategic National Stockpile by End of the Third Quarter
|
| ■ |
Corporate Update Conference Call Today at 4:30 PM ET
|
NEW YORK, May 7, 2026 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc. (SIGA) (Nasdaq: SIGA), a commercial-stage pharmaceutical company, today
reported financial results for the three months ended March 31, 2026.
“Consistent with our long-term strategy, we expect to deliver more than $35 million of oral and IV TPOXX to a combination of the U.S. Government and an international
customer across the second and third quarters of 2026," stated Diem Nguyen, Chief Executive Officer. "Our focus remains on securing new procurement contracts and orders that can drive our business going forward, building upon our long track record
as a successful partner to the U.S. and international governments.”
Summary Financial Results
|
($ in millions, except
per share amounts)
|
Three Months Ended
March 31
|
|||||||
|
2026
|
2025
|
|||||||
|
Product sales(1)
|
$
|
3.5
|
$
|
5.8
|
||||
|
Total revenues(2)
|
$
|
6.2
|
$
|
7.0
|
||||
|
Operating loss(3)
|
$
|
(5.3
|
)
|
$
|
(2.3
|
)
|
||
|
Loss before income taxes(3)
|
$
|
(4.0
|
)
|
$
|
(0.6
|
)
|
||
|
Net loss
|
$
|
(3.5
|
)
|
$
|
(0.4
|
)
|
||
|
Diluted loss per share
|
$
|
(0.05
|
)
|
$
|
(0.01
|
)
|
||
|
(1)
|
Includes supportive services related to product sales.
|
|
(2)
|
Includes research and development revenues.
|
|
(3)
|
Operating loss excludes, and Loss before income taxes includes, other income. Both line items exclude the impact of income taxes.
|
|
|
Press Release
|
International License Agreement in MENA Region
| ■ |
In March 2026, the Company entered into an exclusive license agreement with Hikma MENA FZE (Hikma) under which Hikma has obtained exclusive rights to register and commercialize oral TPOXX in the
Middle East and North Africa (MENA) region. The Company will be the exclusive supplier of TPOXX to Hikma under the agreement.
|
Key Planned Activities
| ■ |
The Company is planning to deliver approximately $13 million of oral TPOXX® treatment courses to a customer in the Asia Pacific region in the second
quarter of 2026. This delivery is part of a multi-year contract that was signed earlier in 2026, and includes options for the potential purchase of additional courses.
|
| ■ |
The Company is planning to deliver this year approximately $26 million of IV TPOXX® treatment courses to the U.S. Government Strategic National Stockpile
by the end of the third quarter of 2026. These deliveries are expected to fulfill the procurement order received in 2025 under the 19C BARDA contract.
|
Capital Management Activity
| ■ |
On March 26, 2026, a special cash dividend of $0.60 per share was declared, and was paid on April 23, 2026 to shareholders of record at the close of
business on April 7, 2026.
|
Conference Call and Webcast
SIGA will host a conference call and webcast to provide a business update today, Thursday, May 7, 2026,
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: 1158847. The archived webcast will be available in the Investor Relations section of the Company's website.
|
|
Press Release
|
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. For more information about SIGA, visit www.siga.com.
|
|
Press Release
|
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, and delivering products to domestic and international customers under procurement contracts, such as the 19C BARDA Contract (the "BARDA Contract"),
with the U.S. Biomedical Advanced Research and Development Authority ("BARDA"). 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 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 and international trade 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, 2025 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.
Investor and Media Contact:
|
Suzanne Harnett
sharnett@siga.com
|
||
|
|
Press Release
|
SIGA TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
As of
|
March 31,
2026
|
December 31, 2025
|
|||||||
|
ASSETS
|
||||||||
|
Current assets
|
||||||||
|
Cash and cash equivalents
|
$
|
145,562,142
|
$
|
154,966,414
|
||||
|
Accounts receivable
|
4,501,682
|
3,263,736
|
||||||
|
Inventory
|
56,494,950
|
49,054,873
|
||||||
|
Prepaid expenses and other current assets
|
4,966,957
|
5,571,841
|
||||||
|
Total current assets
|
211,525,731
|
212,856,864
|
||||||
|
Property, plant and equipment, net
|
1,673,973
|
1,090,824
|
||||||
|
Deferred tax asset, net
|
5,086,458
|
4,428,519
|
||||||
|
Goodwill
|
898,334
|
898,334
|
||||||
|
Other assets
|
203,362
|
192,893
|
||||||
|
Total assets
|
$
|
219,387,858
|
$
|
219,467,434
|
||||
|
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
||||||||
|
Current liabilities
|
||||||||
|
Accounts payable
|
$
|
6,306,482
|
$
|
824,522
|
||||
|
Accrued expenses and other current liabilities
|
6,529,847
|
6,520,057
|
||||||
|
Dividend payable
|
43,034,458
|
—
|
||||||
|
Deferred revenue
|
8,884,121
|
10,240,000
|
||||||
|
Income tax payable
|
403,517
|
408,000
|
||||||
|
Total current liabilities
|
65,158,425
|
17,992,579
|
||||||
|
Other liabilities
|
2,607,831
|
2,653,283
|
||||||
|
Total liabilities
|
67,766,256
|
20,645,862
|
||||||
|
Commitments and contingencies
|
||||||||
|
Stockholders’ equity
|
||||||||
|
Common stock ($.0001 par value, 600,000,000 shares authorized, 71,724,097 and 71,611,302, issued and outstanding at
March 31, 2026 and December 31, 2025, respectively)
|
7,172
|
7,161
|
||||||
|
Additional paid-in capital
|
242,057,171
|
241,885,214
|
||||||
|
Accumulated deficit
|
(90,442,741
|
)
|
(43,070,803
|
)
|
||||
|
Total stockholders’ equity
|
151,621,602
|
198,821,572
|
||||||
|
Total liabilities and stockholders’ equity
|
$
|
219,387,858
|
$
|
219,467,434
|
||||
|
|
Press Release
|
SIGA TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED)
|
Three Months Ended March 31,
|
||||||||
|
2026
|
2025
|
|||||||
|
Revenues
|
||||||||
|
Product sales and supportive services
|
$
|
3,537,876
|
$
|
5,821,247
|
||||
|
Research and development
|
2,704,704
|
1,219,568
|
||||||
|
Total revenues
|
6,242,580
|
7,040,815
|
||||||
|
Operating expenses
|
||||||||
|
Cost of sales and supportive services
|
2,940,884
|
157,738
|
||||||
|
Selling, general and administrative
|
4,673,014
|
5,675,662
|
||||||
|
Research and development
|
3,949,846
|
3,462,813
|
||||||
|
Total operating expenses
|
11,563,744
|
9,296,213
|
||||||
|
Operating loss
|
(5,321,164
|
)
|
(2,255,398
|
)
|
||||
|
Other income, net
|
1,277,480
|
1,684,983
|
||||||
|
Loss before income taxes
|
(4,043,684
|
)
|
(570,415
|
)
|
||||
|
Benefit for income taxes
|
589,432
|
162,192
|
||||||
|
Net and comprehensive loss
|
$
|
(3,454,252
|
)
|
$
|
(408,223
|
)
|
||
|
Basic loss per share
|
$
|
(0.05
|
)
|
$
|
(0.01
|
)
|
||
|
Diluted loss per share
|
$
|
(0.05
|
)
|
$
|
(0.01
|
)
|
||
|
Weighted average shares outstanding: basic
|
71,649,957
|
71,427,527
|
||||||
|
Weighted average shares outstanding: diluted
|
71,649,957
|
71,427,527
|
||||||
FAQ
How did SIGA (SIGA) perform financially in Q1 2026?
SIGA reported a net loss of $3.5 million for Q1 2026, compared with a $0.4 million loss a year earlier. Total revenues were $6.2 million versus $7.0 million, reflecting lower product sales and higher operating expenses.
What were SIGA (SIGA) revenues and product sales for Q1 2026?
For Q1 2026, SIGA generated $6.2 million in total revenues, down from $7.0 million in Q1 2025. Product sales and supportive services contributed $3.5 million, compared with $5.8 million in the prior-year period.
What is SIGA (SIGA)’s cash position as of March 31, 2026?
As of March 31, 2026, SIGA held $145.6 million in cash and cash equivalents, compared with $155.0 million at December 31, 2025. Total assets were $219.4 million, indicating a sizeable liquidity base despite the quarterly loss.
How did SIGA (SIGA)’s balance sheet change in Q1 2026?
Total stockholders’ equity decreased to $151.6 million from $198.8 million, largely reflecting an increased accumulated deficit and a new $43.0 million dividend payable. Total liabilities rose to $67.8 million from $20.6 million over the same period.
What future product deliveries did SIGA (SIGA) highlight for 2026?
Management stated they expect to deliver more than $35 million of oral and IV TPOXX across the second and third quarters of 2026 to a combination of U.S. Government and international customers, aligning with their long-term strategy and procurement focus.