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Siga Q3 2025 Revenue Hits $14.6 M, Up 16% YoY

  //science-technology.news-articles.net/content/2 .. /siga-q3-2025-revenue-hits-14-6-m-up-16-yoy.html
  Published in Science and Technology on Friday, November 7th 2025 at 7:46 GMT by Seeking Alpha
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1. Financial Highlights

Revenue Growth

• Total revenue for Q3 2025 was $14.6 million, up 16% year‑over‑year and 12% sequentially. The growth was driven by both new customer acquisitions and expansion among existing accounts.
• Subscription revenue – the core of Siga’s recurring business – rose 18% YoY to $9.8 million. The company highlighted that its SaaS platform continues to scale with a growing customer base in the enterprise and regulated‑industry segments.
• Professional services increased 9% YoY to $1.4 million as Siga intensified its consulting and implementation offering to accelerate deployments.

Operating Income & Cash Flow

• Operating income for the quarter reached $2.3 million, a 35% improvement from the same period in 2024. This marked the first consecutive quarter of positive operating income for Siga, reflecting the maturation of its subscription model and disciplined cost control.
• The company generated $3.1 million in operating cash flow, indicating a healthy cash conversion cycle and providing additional flexibility for future investment in research and development.

Guidance

• Siga reaffirmed its guidance for 2025, forecasting total revenue of $58–$60 million and operating income of $10–$12 million. The management emphasized a strong pipeline of customers in the healthcare, financial services, and public‑sector markets that should sustain the growth trajectory.
• The company also projected a gross margin of ~66% for the year, slightly above the ~64% margin achieved in Q3 2024, reflecting higher subscription mix and improved pricing.

2. Product & Market Updates

Cyber Resilience Platform

Siga’s flagship offering, the Cyber Resilience Platform, was highlighted as the primary driver of the company’s growth. The platform provides a unified view of ransomware, insider threats, and operational technology security through a combination of behavioral analytics, threat intelligence, and automated remediation. Management emphasized the following: - New features rolled out during the quarter, including a risk‑based prioritization engine and an expanded Threat Intelligence Dashboard that integrates with third‑party feeds. - Integration with Microsoft 365 Defender and AWS Security Hub to broaden reach in hybrid cloud environments.

Product Partnerships

• The call mentioned a strategic partnership with a leading managed security service provider (MSSP) that will expand Siga’s market presence in the Asia‑Pacific region. The MSSP will bundle Siga’s platform with its own threat‑intelligence services, enabling joint sales and support.
• Siga also announced a co‑development agreement with a major enterprise software vendor to embed Siga’s threat‑response capabilities into the vendor’s flagship security suite, thereby leveraging a larger customer base.

Customer Success Stories

• Several case studies were presented, including a $5 million contract with a national health system that leveraged Siga’s platform to secure its cloud‑based EHR systems against ransomware.
• Another highlight involved a $3 million renewal with a large financial institution that credited the platform with a 30% reduction in incident response time for internal threats.

3. Strategic Initiatives

Expansion into Emerging Markets

Siga’s CFO detailed a focused strategy to accelerate adoption in Latin America and Eastern Europe, where regulatory pressure on cybersecurity is tightening. The company is setting up a local sales hub and hiring regional experts to better address language and compliance requirements.

Research & Development

• R&D spending rose 15% YoY to $1.8 million, primarily allocated to machine‑learning enhancements and the development of a Zero‑Trust API layer that will enable more granular access controls for industrial control systems.
• Management indicated a long‑term investment plan of $20 million over the next three years to stay ahead of evolving ransomware tactics.

Talent Acquisition

Siga added 35 new hires in the third quarter, including senior cybersecurity analysts and software engineers. The company underscored the importance of hiring domain‑specific talent to support its growing customer base in regulated industries.

4. Analyst Q&A Highlights

Ransomware Threat Landscape

An analyst from BMO Capital Markets asked whether Siga sees an increase in ransomware attempts targeting its customers. Siga’s CEO replied that while the overall threat level remains high, the company’s platform has successfully mitigated 12% more ransomware incidents compared to the previous year thanks to improved threat‑intelligence feeds and automated response workflows.

Competitive Dynamics

A question from Citigroup addressed Siga’s competitive position against larger vendors such as Palo Alto Networks and CrowdStrike. The CEO acknowledged the intensity of competition but emphasized Siga’s vertical specialization in healthcare and industrial control systems, as well as its smaller footprint that allows for rapid innovation and customization.

Guidance Confidence

The CFO was asked about the confidence level behind the 2025 operating income guidance. He cited a strong pipeline of $20 million in signed contracts with a mix of expansion and new‑customer revenue. Additionally, the CFO pointed to a low churn rate of 1.4% among existing customers, underscoring retention.

Impact of Economic Conditions

In a broader macro‑economic discussion, an analyst from Wells Fargo questioned whether inflationary pressures could affect customer spend. Siga’s CFO noted that the company has a tiered pricing model that has proven resilient, and that the current contractual mix includes a significant portion of year‑long contracts locked at current rates.

5. Follow‑up Resources

The Seeking Alpha article includes links to several supplemental documents: - A SEC 10‑Q filing for the quarter, detailing the same financial results and offering additional footnote disclosures about deferred revenue and capital expenditures. - The Siga Investor Relations presentation (PDF) from the company’s website, which visually outlines the product roadmap and customer segmentation strategy. - An external MarketWatch recap of the earnings call, providing analyst sentiment and a summary of key takeaways.

These documents corroborate the data reported during the call and provide deeper insight into Siga’s operational metrics and strategic priorities.

Bottom Line

Siga Technologies’ Q3 2025 earnings call demonstrates a company that is not only sustaining strong revenue growth but also expanding its product capabilities and market reach. With a growing pipeline of regulated‑industry customers, a clear focus on emerging threats, and a solid financial footing, Siga appears well‑positioned to capitalize on the increasing demand for advanced ransomware and insider‑threat defenses. The company’s forward‑looking guidance signals confidence in continued performance, backed by tangible achievements in product development, strategic partnerships, and operational efficiency.