SIGA Technologies Q3 2022 Earnings Report
Key Takeaways
SIGA Technologies reported strong Q3 2022 financial results, driven by significant international sales of oral TPOXX and diversification of its revenue base with new customers and product formulations. Total revenue reached $72.2 million, with a net income of $33.0 million and diluted earnings per share of $0.45.
SIGA's Q3 2022 revenue was $72.2 million, compared to $4.8 million in Q3 2021.
Operating income for Q3 2022 was $42.9 million, a significant increase from the $(2.9) million loss in Q3 2021.
Net income for Q3 2022 was $33.0 million, compared to a net loss of $(3.1) million in Q3 2021.
Diluted earnings per share for Q3 2022 were $0.45, compared to a loss per share of $(0.04) in Q3 2021.
SIGA Technologies
SIGA Technologies
SIGA Technologies Revenue by Segment
Forward Guidance
The company anticipates continued performance under existing contracts and is closely monitoring the monkeypox outbreak. However, the company acknowledges risks related to contract modifications, supply chain disruptions, and the impact of COVID-19 on operations.
Positive Outlook
- Potential for further procurement orders related to the monkeypox outbreak.
- Continued performance under the BARDA contract.
- Ongoing clinical trials assessing TPOXX for monkeypox treatment.
- New procurement contract from the DoD for oral TPOXX.
- Exercise of procurement options by BARDA for IV TPOXX.
Challenges Ahead
- Risk that BARDA may not exercise all remaining unexercised options under the BARDA Contract.
- Risk of not completing performance under the BARDA Contract on schedule or in accordance with contractual terms.
- Risk of modifications or cancellation of the BARDA Contract or DoD procurement contract at the request of the U.S. Government.
- Risk of disruptions to SIGA’s supply chain for the manufacture of TPOXX.
- Potential adverse effects from U.S. or foreign governments' responses to economic conditions or infectious diseases like COVID-19.
Revenue & Expenses
Visualization of income flow from segment revenue to net income