Thu, May 8, 8:59 PM (14 days ago)
**SIGA Technologies, Inc. (SIGA, NASDAQ: SIGA)** **Q1 2025 Financial Performance Summary:** **Revenue and Profit:** - **Q1 2025 Revenue:** $7.04 million (down from $25.43 million in Q1 2024) - Product sales: $5.82 million (down from $23.88 million) - Research and development: $1.22 million (down from $1.55 million) - **Q1 2025 Net Loss:** $408,223 (compared to a net income of $10.28 million in Q1 2024) - **Gross Margin:** Negative due to higher operating expenses and lower revenue. **Cash Flow:** - **Operating Cash Flow:** $7.06 million (improved from -$6.12 million in Q1 2024) - **Investing Cash Flow:** -$24,893 (minimal investing activities) - **Financing Cash Flow:** -$166,193 (payment of employee tax obligations) **Earnings Changes:** - **EPS (Basic):** -$0.01 (down from $0.14 in Q1 2024) - **EPS (Diluted):** -$0.01 (down from $0.14 in Q1 2024) **Key Performance Metrics:** - **Operating Expenses:** $9.296 million (up from $14.154 million in Q1 2024) - Cost of sales: $157,738 (down from $3.225 million) - Selling, general, and administrative: $5.676 million (down from $7.876 million) - Research and development: $3.463 million (up from $3.053 million) - **Other Income:** $1.685 million (down from $1.942 million) **Trends and Uncertainties:** - **Revenue Decline:** Significant drop in product sales, particularly oral TPOXX® sales to the U.S. Government and international markets. - **Operating Expenses:** Increased R&D and SG&A expenses. - **Cash Position:** Strong cash position with $162.27 million in cash and cash equivalents. - **Future Operations:** Potential label expansion for oral TPOXX®, ongoing clinical trials, and strategic contracts with BARDA and DoD. **Future Outlook:** - **Contract Performance:** Continued performance under the 19C BARDA Contract and other government contracts. - **International Sales:** Focus on expanding international sales, particularly in the EMEA region. - **Regulatory Approvals:** Pending regulatory approvals for label expansion and new indications. - **Cash Dividend:** Special cash dividend of $0.60 per share declared, payable in May 2025. **Risks and Uncertainties:** - **Market Risks:** Volatility in the biotechnology industry and regulatory environment. - **Supply Chain:** Potential disruptions in the supply chain for TPOXX® manufacturing. - **Economic Conditions:** Impact of macroeconomic factors on operating results. **Conclusion:** SIGA Technologies, Inc. faced a challenging quarter with significant revenue declines and increased operating expenses. However, the company maintains a strong cash position and is focused on strategic initiatives to drive future growth, including regulatory approvals, international sales expansion, and ongoing government contracts. The special cash dividend reflects confidence in the company's financial health and future prospects.