SIGA

MKT CAP:$328M

SIGA Technologies, Inc.

Market Cap

$328M

Healthcare·Drug Manufacturers - Specialty & Generic·🇺🇸 United States·NASDAQ

Healthcare·Drug·🇺🇸·NASDAQ

Stock Price

$4.53-$1.74 (-27.75%)

Apr 23, 2026

Company Details

SIGA Technologies, Inc., a commercial-stage pharmaceutical company, focuses on the health security and infectious disease markets in the United States. Its lead product is TPOXX, an oral formulation antiviral drug for the treatment of human...

CEO

Diem Nguyen

IPO Date

Sep 10, 1997

Website

www.siga.com

Key Metrics TTM

Revenue

$172M

-0.9% YoY

Net Income

$74M

EPS (Diluted)

$1.03

Free Cash Flow

$116M

Revenue / Share

$2.41

Gross Margin

76.3%

Operating Margin

52.4%

Net Margin

43.2%

FCF Margin

67.5%

P/S

1.9x

P/E

4.4x

Earnings Reports

Q4 2025

May 7, 2026

PENDING

Q3 2025

Nov 6, 2025

$3M-73.8%EPS -$0.09

Q2 2025

Aug 5, 2025

$81M+271.9%EPS $0.49

Q1 2025

May 8, 2025

$7M-72.3%EPS -$0.01

FY 2024

Mar 11, 2025

$139M-0.9%EPS $0.83

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$115M	$98M	$94M
Q1 22	$11M	$2M	-$1M
Q2 22	$17M	$9M	$3M
Q3 22	$72M	$63M	$43M
Q4 22	$11M	$4M	-$2M
Q1 23	$8M	$2M	-$2M
Q2 23	$6M	-$212.4K	-$5M
Q3 23	$9M	$5M	-$1M
Q4 23	$116M	$99M	$92M
Q1 24	$25M	$19M	$11M
Q2 24	$22M	$9M	$1M
Q3 24	$10M	$8M	$542.1K
Q4 24	$81M	$67M	$57M
Q1 25	$7M	$7M	-$2M
Q2 25	$81M	$56M	$46M
Q3 25	$3M	$2M	-$10M

Valuation

Quarter	P/S	P/E
Q4 21	4.2x	8.0x
Q1 22	3.8x	7.5x
Q2 22	5.4x	11.0x
Q3 22	3.4x	6.8x
Q4 22	4.7x	15.5x
Q1 23	3.8x	12.3x
Q2 23	3.7x	12.7x
Q3 23	10.7x	—
Q4 23	2.8x	5.8x
Q1 24	4.0x	7.9x
Q2 24	3.1x	6.4x
Q3 24	2.8x	5.6x
Q4 24	3.0x	7.1x
Q1 25	3.3x	8.1x
Q2 25	2.6x	5.7x
Q3 25	3.7x	8.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	$16M	$16M
Q1 22	$57M	$57M
Q2 22	-$2M	-$2M
Q3 22	-$5M	-$5M
Q4 22	-$8M	-$8M
Q1 23	$24M	$24M
Q2 23	-$4M	-$4M
Q3 23	-$5M	-$5M
Q4 23	$79M	$79M
Q1 24	-$6M	-$6M
Q2 24	$6M	$6M
Q3 24	-$7M	-$7M
Q4 24	$56M	$56M
Q1 25	$7M	$7M
Q2 25	$63M	$63M
Q3 25	-$10M	-$10M

Capital Expenditures

Quarter	CapEx
Q4 21	$26.2K
Q1 22	$0
Q2 22	$0
Q3 22	$0
Q4 22	$0
Q1 23	$0
Q2 23	$21.7K
Q3 23	$0
Q4 23	$0
Q1 24	$4
Q2 24	$2.2K
Q3 24	$22.4K
Q4 24	$17.8K
Q1 25	$24.9K
Q2 25	$1
Q3 25	$289.6K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+205.7%	+95.2%
Q1 22	+118.9%	+76.1%
Q2 22	+92.6%	+57.1%
Q3 22	+1390.1%	+276.6%
Q4 22	-90.2%	-38.3%
Q1 23	-21.0%	-12.9%
Q2 23	-64.7%	-22.7%
Q3 23	-87.2%	-64.1%
Q4 23	+925.5%	+88.4%
Q1 24	+205.5%	+35.7%
Q2 24	+271.0%	+97.1%
Q3 24	+8.4%	-10.2%
Q4 24	-30.1%	-1.7%
Q1 25	-72.3%	-34.3%
Q2 25	+271.9%	+71.0%
Q3 25	-73.8%	+35.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$308.5K	0.3%
Q1 22	$368.8K	3.5%
Q2 22	$395.5K	2.4%
Q3 22	$328.7K	0.5%
Q4 22	$686.4K	6.0%
Q1 23	$408.7K	4.9%
Q2 23	$721.4K	12.3%
Q3 23	$459.8K	5.0%
Q4 23	$462.5K	0.4%
Q1 24	$1M	4.4%
Q2 24	$932.3K	4.3%
Q3 24	$813.8K	8.1%
Q4 24	$764.1K	0.9%
Q1 25	$902.3K	12.8%
Q2 25	$1M	1.5%
Q3 25	$774.1K	29.5%

OpEx Breakdown

Quarter	R&D	SG&A
Q4 21	—	$4M
Q1 22	—	$4M
Q2 22	—	$6M
Q3 22	—	$20M
Q4 22	—	$6M
Q1 23	—	$4M
Q2 23	—	$4M
Q3 23	—	$6M
Q4 23	—	$7M
Q1 24	—	$8M
Q2 24	$3M	$6M
Q3 24	$1M	$5M
Q4 24	$3M	$7M
Q1 25	$3M	$6M
Q2 25	$4M	$5M
Q3 25	$7M	$5M

Revenue Segments

Quarter	Product Sales and Supportive Services	Research and Development
Q1 22	$7M	$3M
Q2 22	$9M	$8M
Q3 22	$66M	$7M
Q4 22	$5M	$6M
Q1 23	$6M	$3M
Q2 23	$1M	$5M
Q3 23	$8M	$1M
Q4 23	$116M	$736.7K
Q1 24	$24M	$2M
Q2 24	$21M	$1M
Q3 24	$9M	$1M
Q4 24	$80M	$2M
Q1 25	$6M	$1M
Q2 25	$79M	$2M
Q3 25	$889.7K	$2M

Revenue by Geography

Quarter	United States
Q1 23	$8M
Q2 25	$81M
Q3 25	$3M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$153M	$0	$153M
Q2 22	$115M	$0	$115M
Q3 22	$110M	$0	$110M
Q4 22	$99M	$0	$99M
Q1 23	$116M	$0	$116M
Q2 23	$76M	$0	$76M
Q3 23	$71M	$0	$71M
Q4 23	$150M	$0	$150M
Q1 24	$144M	$0	$144M
Q2 24	$107M	$0	$107M
Q3 24	$99M	$0	$99M
Q4 24	$155M	$0	$155M
Q1 25	$162M	$0	$162M
Q2 25	$182M	$0	$182M
Q3 25	$172M	$0	$172M
Q4 25	$155.0T	$0	$155.0T

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	75M	0.0%	-4.1%
Q1 22	74M	-1.3%	-4.8%
Q2 22	73M	-0.7%	-4.3%
Q3 22	73M	-0.1%	-2.1%
Q4 22	73M	-0.8%	-2.9%
Q1 23	72M	-0.7%	-2.3%
Q2 23	71M	-1.5%	-3.1%
Q3 23	71M	-0.0%	-3.0%
Q4 23	71M	+0.0%	-2.2%
Q1 24	72M	+0.7%	-0.9%
Q2 24	72M	+0.3%	+0.9%
Q3 24	72M	+0.0%	+1.0%
Q4 24	72M	+0.0%	+1.0%
Q1 25	71M	-0.5%	-0.2%
Q2 25	72M	+0.4%	-0.0%
Q3 25	72M	-0.2%	-0.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$3M	39
Q1 22	$270.2K	39
Q2 22	$427.4K	39
Q3 22	$2M	39
Q4 22	$291.2K	39
Q1 23	$213.4K	39
Q2 23	$150.7K	39
Q3 23	$236.8K	39
Q4 23	$3M	45
Q1 24	$565.1K	45
Q2 24	$484.7K	45
Q3 24	$222.4K	45
Q4 24	$2M	46
Q1 25	$153.1K	46
Q2 25	$2M	46
Q3 25	$57.0K	46

Revenue / Employee