SIGA TECHNOLOGIES INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data SIGA TECHNOLOGIES INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	15	12.3	477	26.7	125	134	111	140	139	94.6
Cost of revenue	0	0	95.3	1.78	14.8	16.6	10.4	17.8	31.3	29.7
Gross profit	15	12.3	382	25	110	117	100	122	107	64.9
Research and development	19.7	16.7	13	13.3	10.9	9.94	22.5	16.4	12.3	20
Selling, general and administrative	13.7	12.3	12.9	13.3	14.7	18	35.1	22	25.1	21.2
Operating expenses	46	31.1	122	29.1
Operating income	-31	-18.8	355	-2.32	84.5	89.1	42.7	83.6	70	23.7
Interest expense	2.4	14.8	15.5	15.8	3.02	0	0
Other non-operating income	0.1	0.02	78.9	2.82	0.53	0.1	1.03	4.16	6.09	6.68
Pre-tax income	-39.7	-38.3	412	-10.2	73.5	89.3	44.1	87.8	76.1	30.4
Income tax	0.01	-2.09	-10.2	-2.94	17.2	19.9	10.2	19.7	16.9	7.1
Net income	-39.7	-36.2	422	-7.24	56.3	69.5	33.9	68.1	59.2	23.3
EBITDA	-30.8	-18.7	355	-1.8	85	89.6	43.2	84.2	70.5	24.3
EPS, basic	-0.69	-0.46	5.28	-0.09	0.71	0.92	0.46	0.95	0.83	0.33
EPS, diluted	-0.69	-0.46	5.18	-0.15	0.71	0.91	0.46	0.95	0.82	0.32
Shares, basic (weighted)	57.2	78.9	79.9	81	79.3	75.3	72.9	71.4	71.3	71.5
Shares, diluted (weighted)	57.2	78.9	82.7	82.2	79.4	76.4	73.5	71.7	71.9	71.9
Dividend per share							0.45	0.45	0.60	0.60

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	28.7	19.9	101	65.2	118	103	98.8	150	155	155
Receivables	3.15	1.8	1.96	4.17	3.34	83.7	45.4	21.1	21.2	3.26
Inventory	26.2	2.98	2.91	9.65	20.3	19.5	39.3	64.2	49.6	49.1
Other current assets	0.95	2.02	4.32	5.23	2.11	2.45	2.32	3.5	4.91	5.57
Total current assets	69.2	37.4	121	180	144	209	186	239	231	213
Property, plant and equipment	0.3	0.14	0.17	2.62	2.1	2.37	1.85	1.33	1.3	1.09
Lease right-of-use assets				2.94	2.94
Goodwill	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.9
Other non-current assets	0.64	0.7	1.06	0.86	0.68	0.29	0.25	2.08	0.24	0.19
Total assets	161	145	203	199	150	215	195	254	244	219
Accounts payable	2.52	1.33	1.69	3.05	1.28	2.03	3.36	1.46	1.34	0.82
Accrued liabilities	4.58	5.48	9.65	8.64	8.29	9.25	6.3	10.2	5.64	6.52
Deferred revenue		1.26	4.16	2.3	3.28	3.76	10.5	20.8	10.3	10.2
Short-term debt			0	80	0
Total current liabilities	7.1	6.81	11.3	91.7	10.5	30.5	21.5	54.1	25.3	18
Lease liabilities									0.8	0.2
Other non-current liabilities									3.2	2.65
Total liabilities	448	468	101	101	20	40.4	24.9	57.5	28.5	20.6
Total debt	66.6	71.1	75.5
Paid-in capital	214	214	219	221	225	226	234	236	239	242
Retained earnings	-501	-537	-116	-123	-95.2	-51.8	-63.8	-38.9	-22.8	-43.1
Shareholders' equity	-287	-323	103	97.8	130	174	170	197	216	199
Total equity	-287	-323	103	97.8	130	174	170	197	216	199
Total liabilities and equity	161	145	203	199	150	215	195	254	244	219
Shares outstanding	79	80.8	80.8	81.3	77.2	73.5	72.7	71.1	71.4	71.6

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-39.7	-36.2	422	-7.24	56.3	69.5	33.9	68.1	59.2	23.3
Depreciation and amortization	0.17	0.13	0.07	0.53	0.53	0.52	0.52	0.54	0.54	0.56
Stock-based compensation	0.78	1.1	2.27	2.11	1.35	1.27	1.78	2.05	3.64	3.68
Deferred income tax	0.02	-2.72	-9.3	-2.42	11.6	0.12	-3.83	-4.8	0.19	6.43
Change in receivables	0.52	1.35	-0.05	-2.21	0.83	-80.3	38.2	24.3	-0.04	17.9
Change in inventory	-13.8	22.7	0	-6.74	-8.01	0.14	-20	-25.5	15.3	-0.85
Change in payables	-0.18	-2.05	2.05	0.94	-3.12	1.47	1.53	2	-5.74	-0.58
Cash from operations	-117	-18.4	68.9	-18.2	71.5	11.5	41.6	94.8	48.8	43.5
Capital expenditures	-0.02	-0.1	-0.1	-0.03	-0.02	-0.05	0	-0.02	-0.04	-0.36
Cash from investing	1.19	-0.1	78.2	-0.03	-0.02	-0.05	0	-0.02	-0.04	-0.36
Debt repaid	0	0	0	0	-85.9	0	0
Stock issued	0	0.09	0.26	0	0
Share buybacks	0	-0.08	0	0	-28.5	-26	-13	-11.1	0	0
Dividends paid					0	0	-32.9	-32.1	-42.7	-43.1
Cash from financing	59.1	-0.59	-3.81	-1.18	-115	-26.2	-46	-43.4	-43.5	-43.6
Net change in cash	-56.5	-19.1	143	-19.4	-43.1	-14.8	-4.35	51.4	5.25	-0.43
Free cash flow	-117	-18.5	68.8	-18.2	71.5	11.4	41.6	94.8	48.7	43.1
Income taxes paid								3.5	30.4	8.2

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $3.45 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	54.4%	Gross profit / revenue.
Operating margin	-20.8%	Operating income / revenue.
EBITDA margin	-19.7%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-10.3%	Pre-tax income / revenue.
Net margin	-5.2%	Net income / revenue.
FCF margin	-38.2%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	-37.6%	Cash from operations / revenue.
Return on equity (ROE)	-1.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-1.6%	Net income / average total assets.
Return on invested capital (ROIC)	-18.4%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	38.1%	Research and development expense / revenue.
SG&A / revenue	37.0%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	6.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.6%	Capital expenditures / revenue.
D&A / revenue	1.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-31.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-5.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-5.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-39.6%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-13.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-10.0%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-66.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-17.8%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-22.4%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-65.6%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-17.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-22.2%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-60.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-11.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-16.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-61.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-11.4%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-14.7%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-10.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	1.5%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-9.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-11.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	1.2%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-9.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	10.1%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	-7.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	5.3%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	8.9%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-10.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	4.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	7.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-2.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	21.7x	Current assets / current liabilities.
Quick ratio	15.9x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	15.0x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	5.9%	Total liabilities / total assets.
Working capital	$162.5M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	$164.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.31x	Revenue / average total assets.
Fixed asset turnover	35.0x	Revenue / average property, plant and equipment.
Inventory turnover	0.60x	Cost of revenue / average inventory.
Days inventory	613 days	365 x average inventory / cost of revenue.
Receivables turnover	7.48x	Revenue / average receivables.
Days sales outstanding	49 days	365 x average receivables / revenue.
Days payables	14 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	648 days	Days inventory + days sales outstanding - days payables.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.04	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$0.75	Revenue / diluted weighted shares.
FCF per share	-$0.29	Free cash flow / diluted weighted shares.
Operating cash flow per share	-$0.28	Cash from operations / diluted weighted shares.
Book value per share	$2.30	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$2.29	Tangible book value / shares outstanding.
Cash per share	$1.64	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$247.9M	Share price x shares outstanding.
Enterprise value	$130.3M	Market cap + total debt - cash - short-term investments.
P/S	4.62x	Market cap / revenue.
P/B	1.50x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.51x	Market cap / tangible book value, when positive.
EV/Sales	2.43x	Enterprise value / revenue.
FCF yield	-8.3%	Free cash flow / market cap.
Earnings yield	-1.1%	Net income / market cap (the inverse of P/E).
Dividend yield	17.6%	Dividends paid over the period / market cap.
Shareholder yield	17.6%	(Dividends paid + share buybacks) / market cap.

What was SIGA TECHNOLOGIES INC's revenue in fiscal 2025?

SIGA TECHNOLOGIES INC reported revenue of $94.6M for fiscal 2025, 31.8% lower than the year before.

Was SIGA TECHNOLOGIES INC profitable in fiscal 2025?

Yes. Net income was $23.3M, a net margin of 24.6%.

How much free cash flow did SIGA TECHNOLOGIES INC generate in fiscal 2025?

Cash from operations of $43.5M minus capital expenditures of $355.0K left free cash flow of $43.1M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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