SIGA Technologies Reports $81.1 Million Revenue in Q2 2025, Up from $21.8 Million in Q2 2024

SIGA Technologies, Inc. reported significant financial growth in its latest quarterly results, with total revenues reaching $81.1 million for the three months ended June 30, 2025, compared to $21.8 million for the same period in 2024. This increase was primarily driven by a substantial rise in product sales, which amounted to $79.1 million, up from $20.7 million year-over-year. The company’s net income for the second quarter was $35.5 million, a notable increase from $1.8 million in the prior year, resulting in basic earnings per share of $0.50, compared to $0.03 in the previous year.

For the first half of 2025, SIGA's revenues totaled $88.2 million, significantly higher than the $47.2 million reported for the same period in 2024. The increase in revenue was attributed to higher sales of both oral and intravenous TPOXX® to the U.S. Government under the 19C BARDA contract, which accounted for $53.3 million and $25.8 million, respectively. The company also reported $5.8 million in international sales during the first half of 2025, compared to $11.0 million in the same period last year, indicating a shift in international sales dynamics.

Operationally, SIGA has made strategic advancements, including the ongoing development of its TPOXX® product line, which has received regulatory approvals in multiple international markets. The company continues to fulfill its obligations under the BARDA contract, which has been modified to include additional funding for the development of a pediatric formulation of TPOXX®. As of June 30, 2025, SIGA had approximately $182.5 million in cash and cash equivalents, reflecting a solid liquidity position to support ongoing operations and strategic initiatives.

The company’s total liabilities decreased to $26.0 million from $28.5 million at the end of 2024, while stockholders' equity also saw a decline to $209.3 million from $215.8 million, primarily due to an accumulated deficit that increased to $31.3 million. The decrease in equity was influenced by the payment of a special cash dividend of approximately $42.9 million during the second quarter. SIGA's employee headcount has also increased, contributing to higher research and development expenses, which rose to $4.4 million in the second quarter of 2025 from $2.9 million in the same quarter of 2024.

Looking ahead, SIGA Technologies remains focused on expanding its market presence and enhancing its product offerings. The company is targeting a supplemental New Drug Application submission for a smallpox post-exposure prophylaxis indication for oral TPOXX® in 2026. However, SIGA acknowledges potential risks related to macroeconomic conditions, including tariff impacts and supply chain disruptions, which could affect future operations and financial performance. The company is committed to monitoring these factors closely as it navigates its growth trajectory.