Press release
SIGA Reports Financial Results for Three and Twelve Months Ended December 31, 2024
Increased Product Sales to $133 Million in 2024Generated Pre-tax Operating Income and Net Income of $70 Million and $59 Million, Respectively, in
About this update from Siga Technologies Inc.
[{"type":"text","content":"Increased Product Sales to $133 Million in 2024Generated Pre-tax Operating Income and Net Income of $70 Million and $59 Million, Respectively, in 2024Corporate Update Conference Call Today at 4:30 PM ET NEW YORK, March 11, 2025 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc. (SIGA) (Nasdaq: SIGA), a commercial-stage pharmaceutical company, today reported financial results for the three and twelve months ended December 31, 2024. “2024 was a year of strong financial performance and operational execution for SIGA in which we delivered $133 million in product sales and $70 million of pre-tax operating income. These results mark the second consecutive year of product revenue growth, reflecting SIGA’s continued financial strength,” stated Diem Nguyen, Chief Executive Officer. “As we enter 2025, we remain focused on durable growth and impact, supported by approximately $70 million of outstanding procurement orders.” Summary Financial Results ($ in millions, except per share amounts)Three Months Ended December 31 Year EndedDecember 31 2024 2023 2024 2023Product sales (1)$79.8 $115.7 $133.3 $130.7Total revenues (2)$81.4 $116.5 $138.7 $139.9Operating income(3) (4)$57.1 $91.7 $70.0 $83.6Income before income taxes$58.6 $92.9 $76.1 $87.8Net income$45.7 $72.3 $59.2 $68.1Diluted income per share$0.63 $1.01 $0.82 $0.95 (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 Activity: In 2024, SIGA reported $133 million of product sales, including: approximately $100 million of product sales of oral and IV TPOXX to the U.S. Strategic National Stockpile (SNS), of which approximately $60 million was recognized as revenue in the fourth quarter; approximately $10 million of product sales of oral and IV TPOXX to the U.S. Department of Defense, of which approximately $9 million was recognized in the fourth quarter; and approximately $23 million of international sales, of which approximately $11 million was recognized in the fourth quarter.Highlighting the diversity of the Company’s revenue base, the Company has received procurement orders for oral TPOXX from 30...