SIGA Technologies (SIGA) Q4 2024 earnings summary

Executive summary

• Achieved $133 million in product sales for 2024, the highest since TPOXX's FDA approval, marking the second consecutive year of revenue growth.

• Generated $70 million in pre-tax operating income and $59 million in net income for 2024.

• Expanded U.S. government partnerships, secured new international regulatory approvals, and built strategic alliances to broaden TPOXX access.

• Strengthened international presence by assuming direct promotion of TPOXX outside the U.S. and investing in global sales infrastructure.

• Entered 2025 with $70 million in outstanding procurement orders.

Financial highlights

• Product sales totaled $133.3 million for 2024, with $80 million recognized in Q4; total revenues were $138.7 million.

• Q4 sales included $51 million oral and $9 million IV TPOXX to the U.S. SNS, $9 million to the DoD, and $11 million to an East Asia customer.

• Net income for 2024 was $59.2 million, down from $68.1 million in 2023.

• Fully diluted EPS was $0.82 for 2024; cash and cash equivalents at year-end were $155.4 million with no debt.

• Outstanding order balance of $70 million at year-end, expected to be delivered in 2025.

Outlook and guidance

• All $70 million in outstanding orders expected to be delivered in 2025, with deliveries starting in Q2.

• Anticipates a capital management decision, potentially a special dividend, in Q2 2025.

• Targeting FDA submission for TPOXX post-exposure prophylaxis indication in early 2026.

• Positioned to negotiate a new TPOXX contract with the U.S. government in 2025.

• Focus remains on durable growth and impact, supported by strong order backlog.