Key Highlights

  • Nine month product revenues were approximately USD 42 million.
  • Q3 net loss was approximately USD 3 million, or USD 0.04 per share.
  • Cash was approximately USD 116 million with no debt.
  • Nine month Net Income was approximately USD 6 million.

SIGA Technologies, Inc. (NASDAQ:SIGA) reported a third quarter 2026 net loss of approximately USD 3 million, or USD 0.04 per diluted share. Reported EPS was negative USD 0, compared with an estimate of negative USD 0.04.04 and Revenue of USD 1.32 million.

Total revenues were USD 1.3 million, compared with USD 2.6 million in the third quarter of 2025. For the nine months ended September 30, 2026, total revenues were USD 48.6 million, compared with USD 90.8 million. Management described the quarterly pattern as reflecting the variable rhythm of its Business model, with most product revenue recorded in the second quarter.

Nine Month Results

Product related revenues were approximately USD 42 million for the nine months ended September 30, 2026. These included approximately USD 26 million of IV TPOXX deliveries to the U.S. Strategic National Stockpile and approximately USD 13 million of international sales to two international customers. Research and Development revenues were approximately USD 7 million for the nine months, with approximately USD 1 million earned in the third quarter.

Pre-tax Operating Income for the nine months, which excludes interest income and taxes, was approximately USD 2 million. For the quarter, the pre-tax operating loss was approximately USD 7 million. Net income for the nine months was approximately USD 6 million, or USD 0.09 per fully diluted share. The company had a cash balance of approximately USD 116 million and no Debt at September 30, 2026.

Contract Activity

In the second quarter, the company completed its final product delivery under the BARDA 19C contract, fulfilling all product obligations under that agreement. A separate contract, valued at up to approximately USD 15 million, includes firm commitments of about USD 9 million over the first three years, plus up to USD 6 million in Options exercisable at the customer's discretion. An earlier contract, awarded in April 2020 for the purchase of up to approximately USD 14 million of TPOXX, was completed in 2025.

Mission and Regulatory Timeline

The filing describes the 19C BARDA Contract as a September 2018 agreement under which the company agreed to deliver up to 1,488,000 courses of oral TPOXX to the U.S. Strategic National Stockpile. The base period of performance specified potential payments of approximately USD 81.3 million, and options exercised as of September 30, 2026 provide for payments of up to approximately USD 545.2 million. Unexercised options specify potential payments of up to approximately USD 5.6 million in total, relating to supportive activities. The filing also notes that revenue from international procurement contracts is recognized at a point in time on a gross basis, with USD 13 million of international sales recognized during the nine months. Management said the company continues to work with governments to build and sustain long term preparedness against biological threats, namely smallpox. TPOXX has been sold to more than 30 countries and is maintained in stockpiles around the world. Management said procurement processes are not predictable, and that the company stands ready to work with governments around the world, supported by its balance sheet.

On a regulatory item, management said work requires time and that it now plans to file its supplemental NDA in 2028.

Contracts and Regulatory Timeline

SIGA reported nine month product revenues of approximately USD 42 million, cash of approximately USD 116 million and no debt. The call covered the split between U.S. and international customers, contract values and the regulatory timeline.