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Dec 31, 2025
SIGA Technologies Q4 2025 Earnings Report
SIGA Technologies Q4 2025 Earnings Report
Key Takeaways
SIGA Technologies reported a net loss for the fourth quarter of 2025 due to significantly lower product sales compared to the prior year period. Despite the quarterly loss, the company remained profitable for the full fiscal year and secured substantial new government funding for development programs.
Quarterly revenue saw a sharp decline to $3.8 million compared to $81.4 million in Q4 2024, primarily driven by the timing of product deliveries.
The company reported a net loss of $5.4 million for the quarter, down from a net income of $45.7 million in the prior year period.
Secured $27 million in additional U.S. Government funding during the year to support TPOXX development activities.
Received a new $13 million international procurement order from the Asia Pacific region in January 2026 for oral TPOXX.
Revenue by Segment
Forward Guidance
SIGA is focused on securing new procurement contracts in 2026 to build a foundation for future revenues, particularly through U.S. and international government partnerships.
Positive Outlook
- Expects CHMP to confirm positive benefit-risk balance for smallpox and cowpox in March 2026.
- New $13 million Asia Pacific order expected to be delivered in 2026.
- Multi-year contract signed with options for additional courses.
- Continued support from BARDA with $27 million in development funding added in 2025.
- Oral TPOXX revenues of $53 million generated from US SNS deliveries in 2025.
Challenges Ahead
- Expects CHMP will recommend withdrawal of the mpox indication.
- Nascent international biodefense market may not develop as expected.
- Risk of regulatory delays or additional testing requirements.
- Dependence on contract manufacturing organizations for delivery timelines.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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