西佳科技 2025年季度报告

Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period EndedMarch 31, 2025 Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File No.0-23047 SIGA Technologies, Inc.(Exact name of registrant as specified in its charter) (Address of principal executive offices) Registrant’s telephone number, including area code: (212)672-9100 Yes☒No☐. Emerging growth company☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act) Yes☐No☒. Legal ProceedingsRisk Factors Defaults upon Senior SecuritiesMine Safety Disclosures Cash flows from operating activities: Stock-based compensationDeferred income taxes, net Changes in assets and liabilities: Net cash provided by/(used in) operating activitiesCash flows from investing activities: Capital expenditures(24,893)Cash used in investing activities(24,893)Cash flows from financing activities:Payment of employee tax obligations for common stock tendered(166,193)Cash used in financing activities(166,193)Net increase/(decrease) in cash and cash equivalents6,870,790(6,277,196)Cash and cash equivalents at the beginning of period155,400,262150,145,844$162,271,052$143,868,648 1.Condensed Consolidated Financial StatementsThe financial statements of SIGA Technologies, Inc. (“we,” “our,” “us,” “SIGA” orthe “Company”) are presented in accordance withaccounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and the rules andregulations of the Securities and Exchange Commissionfor quarterly reports on Form10-Q and should be read in conjunction with theCompany’s audited financial statements and notes thereto for the year endedDecember 31, 2024, included in the Company's2024AnnualReport on Form10-K filed onMarch 11, 2025(the "2024Form10-K"). All terms used butnotdefined elsewhere herein have the meaningascribed to them in the2024Form10-K. In the opinion of management, all adjustments (consisting of normal and recurring adjustments)considered necessary for a fair statement of the results of the interim periods have been included. The2024year-end condensed consolidated The Company accounts for revenue in accordance with ASC Topic606,Revenue from Contracts with Customers(“ASC606”). In alltransactions, the Company is the principal as it controls the specified good or service before it is transferred to the customer and therefore recognizes revenue on a gross basis. A contract’s transaction price is allocated to distinct performance obligations and recognized as revenuewhen, or as, a performance obligation is satisfied.As ofMarch 31, 2025, the Company's active contractual performance obligationsconsist ofthe following:fourperformance obligations relate to research and development services; andfourrelateto manufacture and delivery ofproduct. The material performance obligations are referenced inNote3.The aggregate amount of the transaction price allocated to currentperformance obligations as ofMarch 31, 2025was$115.9million. Current performance obligations represent the transaction price for whichwork hasnotbeen performed and excludes unexercised contract options. With respect to current obligations related to the manufacture anddelivery of product, the Company expects such obligations to be mostly recognized as revenues within the next12months. With respect to the Contract modificationsmayoccur during the course of performance of our contracts. Contracts are often modified to account for changes incontract specifications or requirements. In most instances, contract modifications are for services that arenotdistinct, and, therefore, are accounted for as part of the existing contract. The Company’s performance obligations are satisfied over time as work progresses or at a point in time. A portion of the Company's revenueis derived from long-term contracts that span multiple years.All of the Company’s revenue related to current research and developmentperformance obligations is recognized over time, because the customer simultaneously receives and consumes the benefits provided by theservices as the Company performs these services.The Company recognizes revenue related to these services based on the progress toward completely satisfy the performance obligation. Incurred costs represent work performed, which corresponds with, and thereby best depicts, thetransfer of control to the customer. The incurred and estimated costs used in the measure of progress includethird-party services performed,direct labor hours, and material consumed.The Company accounts for shipping and handling activities as fulfillment costs rather than as anadditional promised service. milestones; as ofMarch 31, 2025, the accounts receivable balance in the condensed balance sheet includes approximately $0.9million ofunbilled receivables. Under typical payment terms of fixed price arrangeme