What is Scilex Holding Co's earnings per share (EPS)?

Scilex Holding Co (SCLX) reported diluted earnings per share of $-36.48 for fiscal year 2025. 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.

Scilex Holding Co Financials

SCLX

Source SEC Filings (10-K/10-Q) Updated Apr 10, 2026 Currency USD FYE April

This page shows Scilex Holding Co (SCLX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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

Financial Profile 14/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Scilex Holding Co has an operating margin of -1143.7%, meaning the company retains $-1144 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 down from -147.4% the prior year.

Growth

Scilex Holding Co's revenue declined 46.5% year-over-year, from $56.6M to $30.3M. This contraction results in a growth score of 0/100.

Liquidity

Scilex Holding Co's current ratio of 0.08 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 0/100, which could limit financial flexibility.

Cash Flow

Scilex Holding Co has a free cash flow margin of 12.2%, earning a moderate score of 55/100. The company generates positive cash flow after capital investments, but with room for improvement.

Piotroski F-Score Neutral

4/9

Scilex Holding Co passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Mixed

-0.01x

For every $1 of reported earnings, Scilex Holding Co generates $-0.01 in operating cash flow ($3.8M OCF vs -$374.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

-1153.4x

Scilex Holding Co earns $-1153.4 in operating income for every $1 of interest expense (-$346.0M vs $300K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$30.3M

YoY-46.5%

5Y CAGR+5.1%

Scilex Holding Co generated $30.3M in revenue in fiscal year 2025. This represents a decrease of 46.5% from the prior year.

EBITDA

-$341.4M

YoY-330.2%

Scilex Holding Co's EBITDA was -$341.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 330.2% from the prior year.

Net Income

-$374.1M

YoY-413.8%

Scilex Holding Co reported -$374.1M in net income in fiscal year 2025. This represents a decrease of 413.8% from the prior year.

EPS (Diluted)

$-36.48

Scilex Holding Co earned $-36.48 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 5880.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$3.7M

YoY-81.0%

Scilex Holding Co generated $3.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 81.0% from the prior year.

Cash & Debt

$5.0M

YoY+151336.4%

5Y CAGR+176.8%

Scilex Holding Co held $5.0M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

Scilex Holding Co had 8M shares outstanding in fiscal year 2025. This represents a decrease of 96.5% from the prior year.

Margins & Returns

Gross Margin

-218.3%

YoY-288.8pp

5Y CAGR-309.2pp

Scilex Holding Co's gross margin was -218.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 288.8 percentage points from the prior year.

Operating Margin

-1143.7%

YoY-996.3pp

5Y CAGR-994.1pp

Scilex Holding Co's operating margin was -1143.7% in fiscal year 2025, reflecting core business profitability. This is down 996.3 percentage points from the prior year.

Net Margin

-1236.4%

YoY-1107.8pp

5Y CAGR-1034.7pp

Scilex Holding Co's net profit margin was -1236.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1107.8 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

$20.7M

YoY+114.8%

5Y CAGR+15.8%

Scilex Holding Co invested $20.7M in research and development in fiscal year 2025. This represents an increase of 114.8% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$133K

5Y CAGR+39.7%

Scilex Holding Co invested $133K in capex in fiscal year 2025, funding long-term assets and infrastructure.

SCLX Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$30.3M-46.5%	$56.6M+21.1%	$46.7M+22.9%	$38.0M+21.4%	$31.3M+32.9%	$23.6M
Cost of Revenue	$96.3M+477.0%	$16.7M+6.4%	$15.7M+45.2%	$10.8M+197.1%	$3.6M+69.1%	$2.1M
Gross Profit	-$66.0M-265.5%	$39.9M+28.5%	$31.1M+14.0%	$27.2M-1.6%	$27.7M+29.3%	$21.4M
R&D Expenses	$20.7M+114.8%	$9.6M-24.4%	$12.7M+40.8%	$9.1M-1.6%	$9.2M-7.6%	$10.0M
SG&A Expenses	$266.9M+124.2%	$119.0M-0.5%	$119.6M+84.4%	$64.9M+28.3%	$50.6M+17.7%	$43.0M
Operating Income	-$346.0M-314.9%	-$83.4M+20.9%	-$105.4M-108.2%	-$50.6M-41.3%	-$35.8M-1.6%	-$35.3M
Interest Expense	$300K-84.7%	$2.0M+83.8%	$1.1M-88.9%	$9.6M-18.4%	$11.8M-10.3%	$13.1M
Income Tax	$26K+2700.0%	-$1K-107.7%	$13K+225.0%	$4K-20.0%	$5K+109.4%	-$53K
Net Income	-$374.1M-413.8%	-$72.8M+36.3%	-$114.3M-389.3%	-$23.4M+73.6%	-$88.4M-86.1%	-$47.5M
EPS (Diluted)	$-36.48	$-0.61+52.3%	$-1.28-652.9%	$-0.17	$-0.67	$-0.36

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$10.6M+6.7%	$9.9M+97.8%	$5.0M-66.4%	$14.9M+3.2%	$14.4M-11.8%	$16.4M+50.4%	$10.9M-19.2%	$13.5M
Cost of Revenue	$3.3M+1.7%	$3.3M+136.4%	$1.4M-70.5%	$4.7M+24.5%	$3.8M-14.2%	$4.4M+14.3%	$3.8M-15.1%	$4.5M
Gross Profit	$7.2M+9.2%	$6.6M+83.0%	$3.6M-64.5%	$10.2M-4.3%	$10.7M-11.0%	$12.0M+70.1%	$7.0M-21.2%	$8.9M
R&D Expenses	$3.9M-37.0%	$6.2M+151.9%	$2.5M+12.7%	$2.2M-7.2%	$2.3M+17.2%	$2.0M-35.5%	$3.1M+13.7%	$2.7M
SG&A Expenses	$188.8M+851.7%	$19.8M-29.3%	$28.1M-20.7%	$35.4M+19.1%	$29.7M+20.9%	$24.6M-16.0%	$29.3M+24.5%	$23.5M
Operating Income	-$186.5M-809.5%	-$20.5M+26.5%	-$27.9M+1.7%	-$28.4M-42.5%	-$19.9M-27.5%	-$15.6M+19.8%	-$19.5M-6.2%	-$18.3M
Interest Expense	$2.8M+4.3%	$2.7M+8.1%	$2.5M+770.5%	$285K-50.5%	$576K+0.9%	$571K+7.5%	$531K-3.6%	$551K
Income Tax	$1K-94.7%	$19K	N/A	-$1K	$0	$0	$0-100.0%	$8K
Net Income	-$257.8M-485.3%	-$44.0M-68.9%	-$26.1M-303.7%	-$6.5M-47.2%	-$4.4M+88.3%	-$37.6M-54.2%	-$24.4M-13.9%	-$21.4M
EPS (Diluted)	$-22.17-198.8%	$-7.42	$-2.26	N/A	$-0.58+92.4%	$-7.67+7.9%	$-8.33	N/A

SCLX Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$365.0M+392551.1%	$93K-8.2%	$101K+17.1%	$87K+11.0%	$78K-60.9%	$199K
Current Assets	$38.4M+92224.4%	$42K-11.2%	$47K+58.0%	$30K+28.7%	$23K-24.6%	$31K
Cash & Equivalents	$5.0M+151336.4%	$3K-16.6%	$4K+79.5%	$2K-49.7%	$4K-85.8%	$31K
Inventory	$4.8M+96.6%	$2.4M-42.2%	$4.2M+205.8%	$1.4M-46.2%	$2.6M	N/A
Accounts Receivable	$15.2M-42.3%	$26.4M-23.6%	$34.6M+62.9%	$21.2M+48.8%	$14.3M	N/A
Goodwill	$13.5M0.0%	$13.5M0.0%	$13.5M0.0%	$13.5M0.0%	$13.5M	N/A
Total Liabilities	$576.7M+199.2%	$192.7M+11.4%	$173.0M+578.6%	-$36.2M-116.1%	$224.0M+123795.7%	$181K
Current Liabilities	$483.7M+186181.5%	$260K+3.7%	$250K+458.4%	$45K-73.5%	$169K-6.3%	$181K
Long-Term Debt	N/A	N/A	N/A	$0-100.0%	$72.0M	N/A
Total Equity	-$207.8M-7.9%	-$192.6M-11.4%	-$172.9M-577.2%	$36.2M+116.2%	-$223.9M-1195763.3%	$19K
Retained Earnings	-$921.8M-63.7%	-$563.1M-14.9%	-$490.2M-30.4%	-$375.9M-6.6%	-$352.6M-5617331.5%	-$6K

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$275.9M+229.4%	$83.8M+6.1%	$79.0M-15.0%	$93.0M-7.4%	$100.4M-3.9%	$104.5M+14.6%	$91.2M-9.9%	$101.3M
Current Assets	$16.5M-51.0%	$33.7M+17.3%	$28.7M-30.9%	$41.5M+4.2%	$39.9M-21.0%	$50.4M+33.6%	$37.7M-19.3%	$46.8M
Cash & Equivalents	$878K-78.6%	$4.1M-29.3%	$5.8M+77.3%	$3.3M+4149.4%	$77K-98.9%	$6.9M+278.9%	$1.8M-53.6%	$3.9M
Inventory	$1.1M-57.0%	$2.5M-16.5%	$3.0M+23.9%	$2.4M+1.3%	$2.4M-21.8%	$3.1M-11.8%	$3.5M-17.3%	$4.2M
Accounts Receivable	$11.9M-28.8%	$16.8M+57.9%	$10.6M-59.8%	$26.4M-16.3%	$31.6M-16.9%	$38.0M+27.9%	$29.7M-14.1%	$34.6M
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-8.4%	$311.7M-2.3%	$319.2M+13.6%	$281.0M+2.5%	$274.2M
Current Liabilities	$358.9M+17.3%	$305.9M+10.9%	$275.7M+6.2%	$259.6M-7.8%	$281.5M+10.2%	$255.5M+1.1%	$252.7M+0.9%	$250.4M
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+8.8%	-$211.3M+1.6%	-$214.7M-13.1%	-$189.8M-9.7%	-$172.9M
Retained Earnings	-$888.7M-40.7%	-$631.4M-7.2%	-$589.1M-4.6%	-$563.1M-1.2%	-$556.6M-0.8%	-$552.2M-7.3%	-$514.6M-5.0%	-$490.2M

SCLX Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$3.8M-80.3%	$19.3M+193.4%	-$20.7M+2.6%	-$21.3M+25.8%	-$28.7M+8.9%	-$31.5M
Capital Expenditures	$133K	$0-100.0%	$30K+328.6%	$7K	$0-100.0%	$25K
Free Cash Flow	$3.7M-81.0%	$19.3M+193.3%	-$20.7M+2.5%	-$21.3M+25.8%	-$28.7M+9.0%	-$31.5M
Investing Cash Flow	$4.1M+252.7%	-$2.7M-710.6%	-$330K+84.0%	-$2.1M	$0+100.0%	-$25K
Financing Cash Flow	-$5.5M+69.9%	-$18.1M-176.9%	$23.6M+11.4%	$21.2M-24.8%	$28.2M+246.9%	-$19.2M
Dividends Paid	N/A	$8.7M0.0%	$8.7M	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$8.2M+16.7%	$7.0M+17.4%	$6.0M+137.1%	$2.5M-50.4%	$5.1M+121.2%	$2.3M-75.4%	$9.4M+274.2%	-$5.4M
Capital Expenditures	N/A	N/A	N/A	$0	$0	N/A	N/A	$1K
Free Cash Flow	N/A	N/A	N/A	$2.5M-50.4%	$5.1M	N/A	N/A	-$5.4M
Investing Cash Flow	-$152K+0.7%	-$153K+61.3%	-$395K-102.6%	-$195K+91.1%	-$2.2M-1353.3%	-$150K0.0%	-$150K+10.2%	-$167K
Financing Cash Flow	-$11.3M-31.4%	-$8.6M-178.8%	-$3.1M+57.1%	-$7.2M-60.2%	-$4.5M-194.8%	$4.7M+142.3%	-$11.2M-234.8%	$8.3M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

SCLX Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	-218.3%-288.8pp	70.5%+4.1pp	66.5%-5.2pp	71.6%-16.8pp	88.4%-2.5pp	90.9%
Operating Margin	-1143.7%-996.3pp	-147.4%+78.2pp	-225.6%-92.4pp	-133.1%-18.7pp	-114.4%+35.2pp	-149.7%
Net Margin	-1236.4%-1107.8pp	-128.7%+115.9pp	-244.6%-183.2pp	-61.4%+220.9pp	-282.4%-80.7pp	-201.7%
Return on Equity	N/A	N/A	N/A	-64.5%	N/A	-253786.6%
Return on Assets	-102.5%+78224.2pp	-78326.7%+34527.1pp	-112853.7%-85851.8pp	-27002.0%+86461.0pp	-113463.0%-89642.1pp	-23821.0%
Current Ratio	0.08-0.1	0.16-0.0	0.19-0.5	0.66+0.5	0.14-0.0	0.17
Debt-to-Equity	-2.78-1.8	-1.000.0	-1.00-1.0	0.00+0.3	-0.32-10.0	9.65
FCF Margin	12.2%-22.0pp	34.2%+78.5pp	-44.4%+11.6pp	-55.9%+35.6pp	-91.5%+42.1pp	-133.6%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	68.5%+1.5pp	66.9%-5.4pp	72.3%+3.8pp	68.5%-5.4pp	73.9%+0.7pp	73.2%+8.5pp	64.7%-1.7pp	66.4%
Operating Margin	-1766.2%-1559.0pp	-207.2%+350.3pp	-557.5%-367.0pp	-190.5%-52.5pp	-138.0%-42.5pp	-95.4%+83.5pp	-179.0%-42.7pp	-136.2%
Net Margin	-2441.5%-1996.4pp	-445.1%+76.1pp	-521.2%-477.8pp	-43.4%-13.0pp	-30.4%+199.2pp	-229.6%-5.6pp	-224.0%-65.0pp	-159.0%
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%-2.6pp	-4.4%+31.6pp	-35.9%-9.2pp	-26.7%-5.6pp	-21.1%
Current Ratio	0.05-0.1	0.110.0	0.10-0.1	0.16+0.0	0.14-0.1	0.20+0.0	0.15-0.0	0.19
Debt-to-Equity	-2.57-1.2	-1.34+0.0	-1.37+0.1	-1.480.0	-1.48+0.0	-1.490.0	-1.48+0.1	-1.59
FCF Margin	N/A	N/A	N/A	17.0%-18.4pp	35.4%	N/A	N/A	-40.1%

Note: Shareholder equity is negative (-$207.8M), 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 (0.08), 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 $30.3M in total revenue for fiscal year 2025. This represents a -46.5% 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 declined by 46.5% year-over-year, from $56.6M to $30.3M in fiscal year 2025.

Is Scilex Holding Co profitable?

No, Scilex Holding Co (SCLX) reported a net income of -$374.1M in fiscal year 2025, with a net profit margin of -1236.4%.

What is Scilex Holding Co's EBITDA?

Scilex Holding Co (SCLX) had EBITDA of -$341.4M in fiscal year 2025, 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 -218.3% in fiscal year 2025, 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 -1143.7% in fiscal year 2025, 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 -1236.4% in fiscal year 2025, 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 $3.7M in free cash flow during fiscal year 2025. This represents a -81.0% 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 $3.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Scilex Holding Co's total assets?

Scilex Holding Co (SCLX) had $365.0M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Scilex Holding Co's capital expenditures?

Scilex Holding Co (SCLX) invested $133K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Scilex Holding Co spend on research and development?

Scilex Holding Co (SCLX) invested $20.7M in research and development during fiscal year 2025.

How many shares does Scilex Holding Co have outstanding?

Scilex Holding Co (SCLX) had 8M shares outstanding as of fiscal year 2025.

What is Scilex Holding Co's current ratio?

Scilex Holding Co (SCLX) had a current ratio of 0.08 as of fiscal year 2025, 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 -2.78 as of fiscal year 2025, 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 -102.5% for fiscal year 2025, 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 -$207.8M as of fiscal year 2025, 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 4 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 -0.01x, 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 -1153.4x, 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 14 out of 100 on our Financial Profile, indicating weak 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.