SIGA Reports Financial Results for Three and Twelve Months Ended December 31, 2024

Core Insights - SIGA Technologies, Inc. reported strong financial performance in 2024, achieving $133 million in product sales and $70 million in pre-tax operating income, marking the second consecutive year of revenue growth [2][6]. Financial Performance - For the year ended December 31, 2024, SIGA's product sales were $133.3 million, up from $130.7 million in 2023, reflecting a growth of approximately 1.9% [2][16]. - Total revenues for 2024 were $138.7 million, slightly down from $139.9 million in 2023 [2][16]. - Operating income decreased to $70 million in 2024 from $83.6 million in 2023, a decline of about 16.1% [2][16]. - Net income for 2024 was $59.2 million, compared to $68.1 million in 2023, representing a decrease of approximately 13.1% [2][16]. - Diluted income per share was $0.82 in 2024, down from $0.95 in 2023 [2][16]. Product Sales Breakdown - In 2024, SIGA generated approximately $100 million in product sales of oral and IV TPOXX to the U.S. Strategic National Stockpile, with about $60 million recognized in Q4 [7]. - The company also reported around $10 million in product sales to the U.S. Department of Defense, with approximately $9 million recognized in Q4 [7]. - International sales amounted to approximately $23 million, with about $11 million recognized in Q4 [7]. - SIGA has received procurement orders for oral TPOXX from 30 countries over the past three years, with international sales to 13 countries in 2024 [7]. Regulatory Approvals and Market Expansion - In January 2025, SIGA announced that TPOXX received regulatory approval in Japan for the treatment of smallpox and other related conditions, marking a significant milestone for the company's product portfolio [7]. - The approval in Japan represents the first antiviral therapy approved for orthopoxviruses by the Pharmaceuticals and Medical Devices Agency [7]. Future Outlook - The company is focused on durable growth and has approximately $70 million in outstanding procurement orders as it enters 2025 [2][6].