Scilex Holding Co Financials
This page shows Scilex Holding Co (SCLX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Scilex Holding Co has an operating margin of -147.4%, meaning the company retains $-147 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -225.6% the prior year.
Scilex Holding Co's revenue surged 21.1% year-over-year to $56.6M, reflecting rapid business expansion. This strong growth earns a score of 89/100.
Scilex Holding Co's current ratio of 0.16 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 0/100, which could limit financial flexibility.
Scilex Holding Co converts 34.2% of revenue into free cash flow ($19.3M). This strong cash generation earns a score of 100/100.
Scilex Holding Co passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Scilex Holding Co generates $-0.27 in operating cash flow ($19.3M OCF vs -$72.8M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Scilex Holding Co earns $-42.5 in operating income for every $1 of interest expense (-$83.4M vs $2.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Scilex Holding Co generated $56.6M in revenue in fiscal year 2024. This represents an increase of 21.1% from the prior year.
Scilex Holding Co's EBITDA was -$79.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 21.7% from the prior year.
Scilex Holding Co generated $19.3M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 193.3% from the prior year.
Scilex Holding Co reported -$72.8M in net income in fiscal year 2024. This represents an increase of 36.3% from the prior year.
Scilex Holding Co earned $-0.61 per diluted share (EPS) in fiscal year 2024. This represents an increase of 52.3% from the prior year.
Scilex Holding Co held $3K in cash against $0 in long-term debt as of fiscal year 2024.
Scilex Holding Co had 243M shares outstanding in fiscal year 2024. This represents an increase of 143.3% from the prior year.
Scilex Holding Co's gross margin was 70.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 4.1 percentage points from the prior year.
Scilex Holding Co's operating margin was -147.4% in fiscal year 2024, reflecting core business profitability. This is up 78.2 percentage points from the prior year.
Scilex Holding Co's net profit margin was -128.7% in fiscal year 2024, showing the share of revenue converted to profit. This is up 115.9 percentage points from the prior year.
Scilex Holding Co invested $9.6M in research and development in fiscal year 2024. This represents a decrease of 24.4% from the prior year.
Scilex Holding Co invested $0 in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.
SCLX Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $10.6M+6.7% | $9.9M+97.8% | $5.0M-66.4% | $14.9M-9.0% | $16.4M+50.4% | $10.9M-19.2% | $13.5M+33.1% | $10.1M |
| Cost of Revenue | $3.3M+1.7% | $3.3M+136.4% | $1.4M-70.5% | $4.7M+6.9% | $4.4M+14.3% | $3.8M-15.1% | $4.5M+33.3% | $3.4M |
| Gross Profit | $7.2M+9.2% | $6.6M+83.0% | $3.6M-64.5% | $10.2M-14.8% | $12.0M+70.1% | $7.0M-21.2% | $8.9M+33.0% | $6.7M |
| R&D Expenses | $3.9M-37.0% | $6.2M+151.9% | $2.5M+12.7% | $2.2M+8.8% | $2.0M-35.5% | $3.1M+13.7% | $2.7M-32.9% | $4.1M |
| SG&A Expenses | $188.8M+851.7% | $19.8M-29.3% | $28.1M-20.7% | $35.4M+43.9% | $24.6M-16.0% | $29.3M+24.5% | $23.5M-41.8% | $40.4M |
| Operating Income | -$186.5M-809.5% | -$20.5M+26.5% | -$27.9M+1.7% | -$28.4M-81.6% | -$15.6M+19.8% | -$19.5M-6.2% | -$18.3M+52.7% | -$38.8M |
| Interest Expense | $2.8M+4.3% | $2.7M+8.1% | $2.5M+770.5% | $285K-50.1% | $571K+7.5% | $531K-3.6% | $551K+7.4% | $513K |
| Income Tax | $1K-94.7% | $19K | N/A | -$1K | $0 | $0-100.0% | $8K | $0 |
| Net Income | -$257.8M-485.3% | -$44.0M-68.9% | -$26.1M-303.7% | -$6.5M+82.8% | -$37.6M-54.2% | -$24.4M-13.9% | -$21.4M+39.8% | -$35.5M |
| EPS (Diluted) | $-22.17-198.8% | $-7.42 | $-2.26-114.2% | $15.97+308.2% | $-7.67+7.9% | $-8.33-3370.8% | $-0.24+61.9% | $-0.63 |
SCLX Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $275.9M+229.4% | $83.8M+6.1% | $79.0M-15.0% | $93.0M-11.1% | $104.5M+14.6% | $91.2M-9.9% | $101.3M+25.8% | $80.5M |
| Current Assets | $16.5M-51.0% | $33.7M+17.3% | $28.7M-30.9% | $41.5M-17.6% | $50.4M+33.6% | $37.7M-19.3% | $46.8M+83.6% | $25.5M |
| Cash & Equivalents | $878K-78.6% | $4.1M-29.3% | $5.8M+77.3% | $3.3M-52.5% | $6.9M+278.9% | $1.8M-53.6% | $3.9M+100.7% | $2.0M |
| Inventory | $1.1M-57.0% | $2.5M-16.5% | $3.0M+23.9% | $2.4M-20.7% | $3.1M-11.8% | $3.5M-17.3% | $4.2M+6.9% | $3.9M |
| Accounts Receivable | $11.9M-28.8% | $16.8M+57.9% | $10.6M-59.8% | $26.4M-30.4% | $38.0M+27.9% | $29.7M-14.1% | $34.6M+110.6% | $16.4M |
| Goodwill | $13.5M0.0% | $13.5M0.0% | $13.5M0.0% | $13.5M0.0% | $13.5M0.0% | $13.5M0.0% | $13.5M0.0% | $13.5M |
| Total Liabilities | $455.6M+36.9% | $332.7M+14.6% | $290.5M+1.7% | $285.6M-10.5% | $319.2M+13.6% | $281.0M+2.5% | $274.2M+12.8% | $243.2M |
| Current Liabilities | $358.9M+17.3% | $305.9M+10.9% | $275.7M+6.2% | $259.6M+1.6% | $255.5M+1.1% | $252.7M+0.9% | $250.4M+9.5% | $228.6M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$176.9M+28.9% | -$249.0M-17.7% | -$211.5M-9.8% | -$192.6M+10.3% | -$214.7M-13.1% | -$189.8M-9.7% | -$172.9M-6.3% | -$162.7M |
| Retained Earnings | -$888.7M-40.7% | -$631.4M-7.2% | -$589.1M-4.6% | -$563.1M-2.0% | -$552.2M-7.3% | -$514.6M-5.0% | -$490.2M-4.6% | -$468.8M |
SCLX Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $8.2M+16.7% | $7.0M+17.4% | $6.0M+137.1% | $2.5M+9.6% | $2.3M-75.4% | $9.4M+274.2% | -$5.4M-191.4% | $5.9M |
| Capital Expenditures | N/A | N/A | N/A | $0 | N/A | N/A | $1K-95.2% | $21K |
| Free Cash Flow | N/A | N/A | N/A | $2.5M | N/A | N/A | -$5.4M-191.7% | $5.9M |
| Investing Cash Flow | -$152K+0.7% | -$153K+61.3% | -$395K-102.6% | -$195K-30.0% | -$150K0.0% | -$150K+10.2% | -$167K-7.7% | -$155K |
| Financing Cash Flow | -$11.3M-31.4% | -$8.6M-178.8% | -$3.1M+57.1% | -$7.2M-251.8% | $4.7M+142.3% | -$11.2M-234.8% | $8.3M+121.4% | -$38.9M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | $0 | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
SCLX Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 68.5%+1.5pp | 66.9%-5.4pp | 72.3%+3.8pp | 68.5%-4.7pp | 73.2%+8.5pp | 64.7%-1.7pp | 66.4%-0.0pp | 66.5% |
| Operating Margin | -1766.2%-1559.0pp | -207.2%+350.3pp | -557.5%-367.0pp | -190.5%-95.0pp | -95.4%+83.5pp | -179.0%-42.7pp | -136.2%+247.3pp | -383.6% |
| Net Margin | -2441.5%-1996.4pp | -445.1%+76.1pp | -521.2%-477.8pp | -43.4%+186.2pp | -229.6%-5.6pp | -224.0%-65.0pp | -159.0%+192.2pp | -351.2% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -93.5%-40.9pp | -52.6%-19.6pp | -33.0%-26.1pp | -7.0%+29.0pp | -35.9%-9.2pp | -26.7%-5.6pp | -21.1%+23.0pp | -44.1% |
| Current Ratio | 0.05-0.1 | 0.110.0 | 0.10-0.1 | 0.16-0.0 | 0.20+0.0 | 0.15-0.0 | 0.19+0.1 | 0.11 |
| Debt-to-Equity | -2.57-1.2 | -1.34+0.0 | -1.37+0.1 | -1.480.0 | -1.490.0 | -1.48+0.1 | -1.59-0.1 | -1.50 |
| FCF Margin | N/A | N/A | N/A | 17.0% | N/A | N/A | -40.1%-98.2pp | 58.1% |
Note: Shareholder equity is negative (-$192.6M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.16), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Scilex Holding Co's annual revenue?
Scilex Holding Co (SCLX) reported $56.6M in total revenue for fiscal year 2024. This represents a 21.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Scilex Holding Co's revenue growing?
Scilex Holding Co (SCLX) revenue grew by 21.1% year-over-year, from $46.7M to $56.6M in fiscal year 2024.
Is Scilex Holding Co profitable?
No, Scilex Holding Co (SCLX) reported a net income of -$72.8M in fiscal year 2024, with a net profit margin of -128.7%.
What is Scilex Holding Co's earnings per share (EPS)?
Scilex Holding Co (SCLX) reported diluted earnings per share of $-0.61 for fiscal year 2024. This represents a 52.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Scilex Holding Co's EBITDA?
Scilex Holding Co (SCLX) had EBITDA of -$79.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Scilex Holding Co's gross margin?
Scilex Holding Co (SCLX) had a gross margin of 70.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Scilex Holding Co's operating margin?
Scilex Holding Co (SCLX) had an operating margin of -147.4% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Scilex Holding Co's net profit margin?
Scilex Holding Co (SCLX) had a net profit margin of -128.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Scilex Holding Co's free cash flow?
Scilex Holding Co (SCLX) generated $19.3M in free cash flow during fiscal year 2024. This represents a 193.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Scilex Holding Co's operating cash flow?
Scilex Holding Co (SCLX) generated $19.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Scilex Holding Co's total assets?
Scilex Holding Co (SCLX) had $93K in total assets as of fiscal year 2024, including both current and long-term assets.
What are Scilex Holding Co's capital expenditures?
Scilex Holding Co (SCLX) invested $0 in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Scilex Holding Co spend on research and development?
Scilex Holding Co (SCLX) invested $9.6M in research and development during fiscal year 2024.
How many shares does Scilex Holding Co have outstanding?
Scilex Holding Co (SCLX) had 243M shares outstanding as of fiscal year 2024.
What is Scilex Holding Co's current ratio?
Scilex Holding Co (SCLX) had a current ratio of 0.16 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Scilex Holding Co's debt-to-equity ratio?
Scilex Holding Co (SCLX) had a debt-to-equity ratio of -1.00 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Scilex Holding Co's return on assets (ROA)?
Scilex Holding Co (SCLX) had a return on assets of -78326.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
Why is Scilex Holding Co's debt-to-equity ratio negative or unusual?
Scilex Holding Co (SCLX) has negative shareholder equity of -$192.6M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Scilex Holding Co's Piotroski F-Score?
Scilex Holding Co (SCLX) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Scilex Holding Co's earnings high quality?
Scilex Holding Co (SCLX) has an earnings quality ratio of -0.27x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Scilex Holding Co cover its interest payments?
Scilex Holding Co (SCLX) has an interest coverage ratio of -42.5x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Scilex Holding Co?
Scilex Holding Co (SCLX) scores 47 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.