SIGA Technologies, Inc.
SIGAHealthcare|Drug Manufacturers - Specialty & Generic|US
$3.10
+0.13 (+4.38%)
DCF Value
$8.71
Tangible Book / Share
$2.29
Cash / Share
$1.64
Financials
Financial Snapshot
Market Cap
$222.7M
Enterprise Value
$105.6M
Revenue (TTM)
$53.7M
Net Income (TTM)
-$2.8M
Cash & Investments
$117.6M
Net Cash
$117.1M
Free Cash Flow (TTM)
-$20.5M
Operating CF (TTM)
-$20.2M
Debt/Equity
0.00
Cash Runway & Burn Rate
Cash on Hand
$117.6M
Quarterly Burn
$5.0M
Monthly Burn
$1.7M
Est. Runway
~23.3 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $28.7M | $19.9M | $100.7M | $65.2M | $117.9M | $103.1M | $98.8M | $150.1M | $155.4M | $155.0M | $117.6M | |
| Operating Cash Flow | -$115.6M | -$8.2M | $68.9M | -$18.2M | $71.5M | $11.5M | $41.6M | $94.8M | $48.8M | $43.5M | -$20.2M | |
| Free Cash Flow | -$115.6M | -$8.3M | $68.8M | -$18.2M | $71.5M | $11.4M | $41.6M | $94.8M | $48.7M | $43.1M | -$20.5M | |
| Capital Expenditure | -$23.9K | -$100.1K | -$102.3K | -$29.1K | -$15.5K | -$50.6K | $0.00 | -$21.7K | -$42.5K | -$355.0K | -$330.1K | |
| Financing Cash Flow | $30.4M | -$585.6K | -$3.8M | -$1.2M | -$114.6M | -$26.2M | -$46.0M | -$43.4M | -$43.5M | -$43.6M | -$44.4M |
R&D Spending
R&D (TTM)
$2704.71B
R&D Intensity
5040004.8%
R&D Growth vs Prior
+41440238.4%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $15.0M | $12.3M | $477.1M | $26.7M | $125.0M | $133.7M | $110.8M | $139.9M | $138.7M | $94.6M | $53.7M | |
| R&D Expense | $19.7M | $16.7M | $13.0M | $0.00 | $0.00 | $9.9M | $22.5M | $16.4M | $12.3M | $6.5M | $2704.71B | |
| R&D % of Revenue | 131.5% | 136.0% | 2.7% | 0.0% | 0.0% | 7.4% | 20.3% | 11.7% | 8.9% | 6.9% | 5040004.8% | |
| SG&A | $13.7M | $12.3M | $12.9M | $13.3M | $14.7M | $18.0M | $35.1M | $22.0M | $25.1M | $3.1M | $4673.01B |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $15.0M | $12.3M | $477.1M | $26.7M | $125.0M | $133.7M | $110.8M | $139.9M | $138.7M | $94.6M | $53.7M | |
| Cost of Revenue | $19.7M | $16.7M | $108.3M | $15.1M | $25.7M | $16.6M | $10.4M | $17.8M | $31.3M | $29.7M | $24.5M | |
| Gross Profit | -$4.7M | -$4.4M | $368.8M | $11.7M | $99.2M | $117.1M | $100.3M | $122.1M | $107.4M | $64.9M | $29.2M | |
| R&D | $19.7M | $16.7M | $13.0M | $0.00 | $0.00 | $9.9M | $22.5M | $16.4M | $12.3M | $6.5M | $2704.71B | |
| SG&A | $13.7M | $12.3M | $12.9M | $13.3M | $14.7M | $18.0M | $35.1M | $22.0M | $25.1M | $3.1M | $4673.01B | |
| Operating Income | -$31.0M | -$18.8M | $355.1M | -$2.3M | $84.5M | $89.1M | $42.7M | $83.6M | $70.0M | $23.7M | -$11.1M | |
| Interest Expense | $14.1M | $14.8M | $15.5M | $15.8M | $3.0M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$39.7M | -$38.3M | $411.6M | -$10.2M | $73.5M | $89.3M | $44.1M | $87.8M | $76.1M | $30.4M | -$5.5M | |
| Net Income | -$39.7M | -$36.2M | $421.8M | -$7.2M | $56.3M | $69.5M | $33.9M | $68.1M | $59.2M | $23.3M | -$2.8M | |
| EPS (Diluted) | -0.69 | -0.46 | 5.10 | -0.09 | 0.71 | 0.91 | 0.46 | 0.95 | 0.83 | 0.33 | -0.04 | |
| EBITDA | -$25.4M | -$23.4M | $355.2M | $6.1M | $77.1M | $89.8M | $44.7M | $88.3M | $76.6M | $31.0M | -$4.9M | |
| Shares Out. (M) | 57.19 | 78.87 | 82.71 | 82.18 | 79.44 | 76.40 | 73.55 | 71.68 | 71.77 | 71.60 | 71.88 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $28.7M | $19.9M | $100.7M | $65.2M | $117.9M | $103.1M | $98.8M | $150.1M | $155.4M | $155.0M | $117.6M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $69.2M | $37.4M | $121.3M | $180.0M | $143.6M | $208.8M | $185.8M | $239.0M | $231.0M | $212.9M | $170.4M | |
| Total Assets | $161.0M | $144.7M | $203.4M | $198.6M | $149.8M | $214.7M | $195.0M | $254.4M | $244.3M | $219.5M | $175.7M | |
| Total Current Liabilities | $13.8M | $6.8M | $11.3M | $91.7M | $10.5M | $30.5M | $21.5M | $54.1M | $25.3M | $18.0M | $7.8M | |
| Long-Term Debt | $66.6M | $71.1M | $75.5M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $448.4M | $467.8M | $100.5M | $100.8M | $20.0M | $40.4M | $24.9M | $57.5M | $28.5M | $20.6M | $10.4M | |
| Stockholders' Equity | -$287.4M | -$323.1M | $102.9M | $97.8M | $129.8M | $174.3M | $170.2M | $196.9M | $215.8M | $198.8M | $165.3M | |
| Retained Earnings | -$501.1M | -$537.4M | -$115.8M | -$123.0M | -$95.2M | -$51.8M | -$63.8M | -$38.9M | -$22.8M | -$43.1M | -$78.0M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$115.6M | -$8.2M | $68.9M | -$18.2M | $71.5M | $11.5M | $41.6M | $94.8M | $48.8M | $43.5M | -$20.2M | |
| Capital Expenditure | -$23.9K | -$100.1K | -$102.3K | -$29.1K | -$15.5K | -$50.6K | $0.00 | -$21.7K | -$42.5K | -$355.0K | -$330.1K | |
| Free Cash Flow | -$115.6M | -$8.3M | $68.8M | -$18.2M | $71.5M | $11.4M | $41.6M | $94.8M | $48.7M | $43.1M | -$20.5M | |
| Investing Cash Flow | $1.2M | -$100.1K | $78.2M | -$29.1K | -$15.5K | -$50.6K | $0.00 | -$21.7K | -$42.5K | -$355.0K | -$330.1K | |
| Financing Cash Flow | $30.4M | -$585.6K | -$3.8M | -$1.2M | -$114.6M | -$26.2M | -$46.0M | -$43.4M | -$43.5M | -$43.6M | -$44.4M | |
| Issuance of Stock | $34.6M | $89.5K | $261.9K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Repurchase of Stock | -$428.0K | -$591.1K | -$4.1M | $0.00 | -$28.5M | -$26.0M | -$13.0M | -$11.1M | -$799.9K | -$433.8K | -$826.6K | |
| Net Debt Issuance | $28.7M | $0.00 | $0.00 | $0.00 | -$85.9M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $775.5K | $1.1M | $2.3M | $2.1M | $1.4M | $1.3M | $1.8M | $2.1M | $3.6M | $3.7M | $3.5M | |
| Net Change in Cash | -$84.0M | -$8.8M | $143.3M | -$19.4M | -$43.1M | -$14.8M | -$4.3M | $51.4M | $5.3M | -$433.8K | -$64.9M |
Dilution Tracker
Shares Outstanding
72M
5-Year Share Growth
-9.9%
Stock Issuance (TTM)
$0.00
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 57.19 | 78.87 | 82.71 | 82.18 | 79.44 | 76.40 | 73.55 | 71.68 | 71.77 | 71.60 | 71.88 | |
| Change vs Prior % | — | 37.9% | 4.9% | -0.6% | -3.3% | -3.8% | -3.7% | -2.5% | 0.1% | -0.2% | 0.4% | |
| Stock Issuance | $34.6M | $89.5K | $261.9K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Repurchase | -$428.0K | -$591.1K | -$4.1M | $0.00 | -$28.5M | -$26.0M | -$13.0M | -$11.1M | -$799.9K | -$433.8K | -$826.6K | |
| Stock Based Comp. | $775.5K | $1.1M | $2.3M | $2.1M | $1.4M | $1.3M | $1.8M | $2.1M | $3.6M | $3.7M | $3.5M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | -31.5% | -36.0% | 77.3% | 43.6% | 79.4% | 87.6% | 90.6% | 87.3% | 77.4% | 68.6% | 54.3% | |
| Operating Margin % | -206.9% | -153.6% | 74.4% | -8.7% | 67.6% | 66.7% | 38.5% | 59.8% | 50.4% | 25.1% | -20.8% | |
| Net Margin % | -264.9% | -295.3% | 88.4% | -27.1% | 45.1% | 52.0% | 30.6% | 48.6% | 42.7% | 24.6% | -5.1% | |
| EBITDA Margin % | -169.8% | -191.0% | 74.5% | 22.9% | 61.7% | 67.2% | 40.3% | 63.1% | 55.2% | 32.7% | -9.1% | |
| FCF Margin % | -771.4% | -67.3% | 14.4% | -68.2% | 57.2% | 8.6% | 37.6% | 67.7% | 35.1% | 45.6% | -38.2% | |
| ROE % | 13.8% | 11.2% | 409.9% | -7.4% | 43.4% | 39.8% | 19.9% | 34.6% | 27.4% | 11.7% | -1.5% | |
| ROA % | -24.7% | -25.0% | 207.3% | -3.6% | 37.6% | 32.3% | 17.4% | 26.8% | 24.2% | 10.6% | -1.6% | |
| ROIC % | -21.1% | -12.9% | 184.8% | -0.9% | 46.3% | 37.5% | 18.8% | 32.3% | 24.8% | 9.0% | -3.3% | |
| R&D / Revenue % | 131.5% | 136.0% | 2.7% | 0.0% | 0.0% | 7.4% | 20.3% | 11.7% | 8.9% | 6.9% | 5040004.8% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 83.3% | -18.1% | 3788.3% | -94.4% | 367.3% | 7.0% | -17.1% | 26.3% | -0.9% | -31.8% | |
| Gross Profit | 4.7% | 6.6% | 8460.7% | -96.8% | 751.3% | 18.0% | -14.3% | 21.7% | -12.0% | -39.6% | |
| Operating Income | -0.2% | 39.2% | 1983.9% | -100.7% | 3738.9% | 5.4% | -52.1% | 95.8% | -16.3% | -66.1% | |
| Net Income | -0.6% | 8.7% | 1264.1% | -101.7% | 878.1% | 23.3% | -51.2% | 100.8% | -13.0% | -60.7% | |
| EPS (Diluted) | 5.5% | 33.3% | 1208.7% | -101.7% | 905.9% | 28.2% | -49.5% | 106.5% | -12.6% | -60.2% | |
| Operating Cash Flow | -1140.5% | 92.9% | 944.2% | -126.4% | 492.9% | -83.9% | 262.0% | 127.8% | -48.6% | -10.8% | |
| Free Cash Flow | -1151.0% | 92.9% | 932.7% | -126.5% | 492.2% | -84.0% | 263.6% | 127.8% | -48.6% | -11.5% | |
| R&D Expense | 50.1% | -15.4% | -22.0% | -100.0% | 0.0% | 0.0% | 126.6% | -27.1% | -25.1% | -47.0% | |
| SG&A Expense | 29.6% | -10.3% | 4.7% | 2.9% | 11.1% | 22.5% | 94.7% | -37.2% | 14.0% | -87.6% | |
| Total Assets | -13.3% | -10.1% | 40.6% | -2.4% | -24.5% | 43.3% | -9.2% | 30.4% | -3.9% | -10.2% | |
| Book Value / Share | 5.0% | 18.4% | 131.4% | -6.3% | 35.7% | 41.3% | 0.8% | 18.2% | 9.8% | -8.3% | |
| Debt | 0.0% | 6.8% | 6.3% | 6.5% | -99.4% | 3.8% | 13.1% | 6.8% | -3.0% | 8.8% | |
| Diluted Shares | 6.3% | 37.9% | 4.9% | -0.6% | -3.3% | -3.8% | -3.7% | -2.5% | 0.1% | -0.2% |
Valuation
P/E (TTM)At Loss
10Y Low / Med / High1.50 / 8.17 / 18.52
P/S4.15
10Y Low / Med / High1.32 / 4.62 / 31.14
P/B1.35
10Y Low / Med / High1.98 / 3.25 / 6.14
EV/EBITDAAt Loss
10Y Low / Med / High1.71 / 5.95 / 65.66
EV/Revenue1.97
10Y Low / Med / High1.27 / 3.67 / 35.31
P/FCFAt Loss
10Y Low / Med / High4.22 / 9.18 / 49.50
Intrinsic Value Models (per share)
DCF Value
$8.71
Tangible Book / Share
$2.29
Net Current Assets / Share
$2.23
Graham Net-Net
$1.85
Cash / Share
$1.64
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -4.17 | -10.54 | 1.50 | -53.36 | 10.24 | 8.17 | 16.00 | 5.89 | 7.24 | 18.52 | -71.10 | |
| P/S Ratio | 10.99 | 31.14 | 1.32 | 14.45 | 4.61 | 4.24 | 4.85 | 2.86 | 3.09 | 4.62 | 4.15 | |
| P/B Ratio | -0.57 | -1.18 | 6.14 | 3.95 | 4.44 | 3.25 | 3.15 | 2.03 | 1.98 | 2.20 | 1.35 | |
| EV/EBITDA | -7.96 | -18.48 | 1.71 | 65.66 | 5.95 | 5.16 | 9.82 | 2.83 | 3.57 | 9.14 | -21.54 | |
| EV/Revenue | 13.51 | 35.31 | 1.27 | 15.02 | 3.67 | 3.47 | 3.96 | 1.79 | 1.97 | 2.99 | 1.97 |
Analyst Estimates & Quality
Altman Z-Score
13.48
Safe
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 |
|---|---|---|
| Revenue | $59.9M | $162.1M |
| Net Income | $121.7M | $77.3M |
| EPS | $1.70 | $1.08 |
| # Analysts (EPS) | 1 | 1 |
Dividends
Dividend/Share (TTM)
$0.60
Dividend Yield
19.36%
Frequency
Special
Recent Payments
| Ex-Date | Pay Date | Amount | Frequency |
|---|---|---|---|
| Apr 7, 2026 | Apr 23, 2026 | $0.60 | Special |
| Apr 29, 2025 | May 15, 2025 | $0.60 | Special |
| Mar 25, 2024 | Apr 11, 2024 | $0.60 | Special |
| May 15, 2023 | Jun 1, 2023 | $0.45 | Special |
| May 16, 2022 | Jun 2, 2022 | $0.45 | Special |
Revenue Segments
By Product
| Segment | 2018 | 2019 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Product Sales and Supportive Services | $468.9M | $11.2M | $86.7M | $130.7M | $133.3M | $88.0M |
| Research and Development | $8.1M | $15.6M | $24.1M | $9.2M | $5.4M | $6.5M |
By Geography
| Segment | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Asia Pacific | $14.9M | $966.6K | $13.9M | — |
| CANADA | $38.9M | — | $737.7K | $5.8M |
| EMEA | $16.3M | $20.3M | $8.4M | — |
| Non-US | $71.0M | $21.3M | $23.0M | $5.8M |
| Other | $972.8K | — | — | — |
| UNITED STATES | $39.8M | $118.7M | $115.7M | $88.8M |