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Mar 31, 2023
SIGA Technologies Q1 2023 Earnings Report
SIGA Technologies' financial performance declined in Q1 2023, with decreased revenues and a net loss, despite progress in oral TPOXX sales to the U.S. Department of Defense.
Key Takeaways
SIGA Technologies reported a decrease in total revenues to $8.3 million for the three months ended March 31, 2023, compared to $10.5 million for the same period in 2022. The company experienced a net loss of $0.9 million, with a diluted loss per share of $0.01. Despite the overall loss, SIGA is targeting significant oral TPOXX deliveries to the DoD and SNS throughout 2023.
Total revenues decreased to $8.3 million compared to $10.5 million year-over-year.
Net loss was $0.9 million, with a diluted loss per share of $0.01.
Operating loss was $2.1 million, compared to $1.4 million in the prior year.
Targeting $11 million of oral TPOXX deliveries to the DoD in 2023, including $5 million in Q1, and approximately $113 million of oral TPOXX deliveries to the SNS.
Revenue by Segment
Forward Guidance
SIGA Technologies is targeting approximately $11 million of oral TPOXX deliveries to the DoD and approximately $113 million of oral TPOXX deliveries to the SNS in 2023.
Positive Outlook
- Targeting $11 million of oral TPOXX deliveries to the DoD in 2023.
- Targeting approximately $113 million of oral TPOXX deliveries to the SNS in 2023.
- Working to build and meet demand for oral TPOXX across geographic regions.
- Continuing to work toward deliveries of IV TPOXX to the SNS this year.
- Company announced a special cash dividend of $0.45 per share.
Challenges Ahead
- Risk that BARDA may not exercise all remaining unexercised options under the BARDA Contract.
- Risk that SIGA may not complete performance under the BARDA Contract on schedule or in accordance with contractual terms.
- Risk of disruptions to SIGA’s supply chain for the manufacture of TPOXX.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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