SIGA Technologies (SIGA) Q4 2025 earnings summary

Executive summary

• Focused on supporting global government preparedness for biological threats, especially smallpox, through antiviral stockpiling and rapid deployment capabilities.

• TPOXX remains a key asset for emergency response, with a strong safety profile and targeted mechanism of action.

• Maintains strong partnerships with over 30 countries and NGOs, and continues to expand international engagement.

• Generated $88 million in TPOXX product revenues in 2025, with $24 million in pre-tax operating income.

• Secured $27 million in additional U.S. Government funding for development activities in 2025.

Financial highlights

• 2025 product revenues reached $88 million, including $53 million from oral TPOXX and $26 million from IV TPOXX delivered to the U.S. Strategic National Stockpile, plus $6 million from international sales.

• Research and development revenues totaled approximately $7 million for 2025.

• Pretax operating income was $24 million; net income was $23 million; fully diluted EPS was $0.32 for 2025.

• Cash balance at year-end was $155 million with no debt.

• Product sales totaled $88.0 million in 2025, down from $133.3 million in 2024.

Outlook and guidance

• $26 million in outstanding U.S. government orders for IV TPOXX expected to be delivered in 2026.

• Ongoing engagement with U.S. government for a new procurement contract, with continued focus on smallpox preparedness.

• Targeting FDA submission for post-exposure prophylaxis (PEP) indication within 12 months.

• Pediatric oral suspension formulation in phase I, with results expected in the second half of the year.

• Expectation that the European CHMP will maintain tecovirimat indications for smallpox, cowpox, and vaccinia, but withdraw mpox indication in March 2026.