Thu, Aug 1, 9:06 PM (88 days ago)
SIGA Technologies, Inc. reported a notable improvement in financial performance for Q2 2024. Key highlights include: - **Revenues**: Increased to $21.8 million from $5.9 million in Q2 2023, driven by $17.6 million in IV TPOXX® sales to the U.S. Government under the BARDA contract and $3.1 million in international sales. - **Operating Income**: Improved to $1.1 million from a loss of $4.6 million in Q2 2023, reflecting higher revenues and better cost management. - **Net Income**: Achieved $1.8 million, reversing a loss of $2.9 million in Q2 2023. - **Cash Flow**: Operating activities used $0.2 million in cash, contrasting with $20.9 million provided in the same period last year, influenced by significant tax payments and inventory investments. - **Future Prospects**: The company expects continued revenue recognition from the BARDA contract, with recent option exercises potentially adding $112.5 million in future revenues. Overall, SIGA's financial health shows strong revenue growth and improved profitability, though cash flow management remains a focus.