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Scilex (SCLXW) Financials

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$0.07 +0.01 (+8.36%)
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Annual Income Statements for Scilex

Annual Income Statements for Scilex

This table shows Scilex's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -48 -88 -23 -114 -73 -402
Consolidated Net Income / (Loss)		 -48 -88 -23 -114 -73 -374
Net Income / (Loss) Continuing Operations		 -48 -88 -23 -114 -73 -374
Total Pre-Tax Income 		-48 -88 -23 -114 -73 -374
Total Operating Income		 -35 -36 -51 -105 -83 -346
Total Gross Profit		 21 28 27 31 40 20
Total Revenue		 24 31 38 47 57 30
Operating Revenue		 24 31 38 47 57 30
Total Cost of Revenue		 2.15 3.63 11 16 17 11
Operating Cost of Revenue		 2.15 3.63 11 16 17 11
Total Operating Expenses		 57 64 78 136 123 366
Selling, General & Admin Expense		 43 51 65 120 119 267
Research & Development Expense		 9.96 9.20 9.05 13 9.64 21
Amortization Expense		 3.74 3.74 3.92 4.11 4.03 4.36
Other Operating Expenses / (Income)		 - - - 0.00 -9.39 0.35
Impairment Charge		 - - - - 0.00 73
Total Other Income / (Expense), net		 -12 -53 27 -8.89 11 -28
Interest Expense		 13 24 -19 1.07 1.96 19
Interest & Investment Income		 - - - - 0.00 55
Other Income / (Expense), net		 0.80 -28 8.24 -7.82 13 -64
Income Tax Expense		 -0.05 0.01 0.00 0.01 -0.00 0.03
Preferred Stock Dividends Declared		 - - - - 0.00 44
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - - - 0.00 -15
Basic Earnings per Share		 ($0.36) ($0.67) ($0.17) ($1.28) ($7.24) ($36.48)
Weighted Average Basic Shares Outstanding		 132.89M 132.86M 134.23M 130.30M 10.06M 11.03M
Diluted Earnings per Share		 ($0.36) ($0.67) ($0.17) ($1.28) ($8.05) ($36.48)
Weighted Average Diluted Shares Outstanding		 132.89M 132.86M 134.23M 130.30M 10.15K 11.03M

Quarterly Income Statements for Scilex

This table shows Scilex's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -21 -24 -38 -4.39 -6.46 -26 -86 -257 -33 -43 -115
Consolidated Net Income / (Loss)		 -21 -24 -38 -4.39 -6.46 -26 -88 -258 -46 -46 -230
Net Income / (Loss) Continuing Operations		 -21 -24 -38 -4.39 -6.46 -26 -44 -258 -46 -46 -115
Total Pre-Tax Income 		-21 -24 -38 -4.39 -6.46 -26 -44 -258 -46 -46 -115
Total Operating Income		 -18 -19 -16 -20 -28 -28 -21 -187 -111 -32 -29
Total Gross Profit		 8.94 7.04 12 11 10 3.62 6.62 7.23 2.18 4.17 3.97
Total Revenue		 13 11 16 14 15 5.00 9.90 11 4.79 8.61 7.64
Operating Revenue		 13 11 16 14 15 5.00 9.90 11 4.79 8.61 7.64
Total Cost of Revenue		 4.52 3.84 4.39 3.77 4.69 1.38 3.27 3.33 2.61 4.45 3.68
Operating Cost of Revenue		 4.52 3.84 4.39 3.77 4.69 1.38 3.27 3.33 2.61 4.45 3.68
Total Operating Expenses		 27 27 28 31 39 32 27 194 113 36 33
Selling, General & Admin Expense		 24 29 25 30 35 28 20 189 30 31 28
Research & Development Expense		 2.73 3.11 2.00 2.35 2.18 2.46 6.19 3.90 8.17 3.21 3.34
Amortization Expense		 1.03 1.03 1.00 1.00 1.00 1.00 1.01 1.02 1.33 2.09 2.09
Other Operating Expenses / (Income)		 - -6.89 0.00 -2.50 - - 0.10 0.00 0.25 - 0.00
Total Other Income / (Expense), net		 -3.05 -4.90 -22 16 22 1.82 -24 -71 65 -13 -86
Interest Expense		 0.55 0.53 0.57 0.58 0.29 2.48 2.68 2.80 11 3.78 6.10
Interest & Investment Income		 - - - - - 0.00 0.00 - - -32 -51
Other Income / (Expense), net		 -2.50 -4.37 -21 16 22 4.30 -21 -69 21 22 -29
Income Tax Expense		 0.01 - 0.00 0.00 -0.00 - 0.02 0.00 - - 0.01
Preferred Stock Dividends Declared		 - - 0.00 0.00 - - 44 0.00 - - 1.23
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - 0.00 0.00 - 0.00 -1.74 -0.59 - -2.38 -1.49
Basic Earnings per Share		 ($0.24) ($8.33) ($7.67) ($0.58) $0.02 ($2.26) ($7.42) ($22.17) ($3.00) ($6.28) ($16.65)
Weighted Average Basic Shares Outstanding		 130.30M 2.93M 4.90M 7.56M 131.14M 11.57M 11.60M 11.60M 11.03M 6.89M 6.89M
Diluted Earnings per Share		 ($0.24) ($8.33) ($7.67) ($0.58) ($0.03) ($2.26) ($7.42) ($22.17) ($3.00) ($6.28) ($16.65)
Weighted Average Diluted Shares Outstanding		 130.30M 2.93M 4.90M 7.56M 134.08M 11.57M 11.60M 11.60M 11.03M 6.89M 6.89M
Weighted Average Basic & Diluted Shares Outstanding		 166.19M 181.19M 191.79M - 243.31M 6.95M 6.96M 7.59M 0.00 8.49M 8.49M

Annual Cash Flow Statements for Scilex

This table details how cash moves in and out of Scilex's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -51 -0.50 -2.15 2.55 -1.46 1.68
Net Cash From Operating Activities		 -31 -29 -21 -21 19 3.82
Net Cash From Continuing Operating Activities		 -31 -29 -21 -21 19 3.82
Net Income / (Loss) Continuing Operations		 -48 -88 -23 -114 -73 -374
Consolidated Net Income / (Loss)		 -48 -88 -23 -114 -73 -374
Depreciation Expense		 3.78 3.78 3.96 4.15 4.05 4.62
Amortization Expense		 11 7.91 3.14 0.07 0.32 0.41
Non-Cash Adjustments To Reconcile Net Income		 -1.08 34 -29 84 94 327
Changes in Operating Assets and Liabilities, net		 2.70 14 24 5.75 -6.16 46
Net Cash From Investing Activities		 -0.03 0.00 -2.07 -0.33 -2.68 4.08
Net Cash From Continuing Investing Activities		 -0.03 0.00 -2.07 -0.33 -2.68 4.08
Purchase of Property, Plant & Equipment		 -0.03 0.00 -0.01 -0.03 0.00 -1.13
Acquisitions		 0.00 0.00 -2.06 -0.30 -0.68 23
Purchase of Investments		 - - - 0.00 -2.00 0.00
Divestitures		 - - - - 0.00 1.52
Other Investing Activities, net		 - 0.00 0.00 0.00 0.00 -19
Net Cash From Financing Activities		 -19 28 21 24 -18 -5.46
Net Cash From Continuing Financing Activities		 -19 28 21 24 -18 -5.46
Repayment of Debt		 -59 -82 -104 -90 -189 0.37
Repurchase of Preferred Equity		 - 0.00 0.00 -1.99 -0.45 -1.86
Repurchase of Common Equity		 - - - 0.00 0.00 -29
Issuance of Debt		 40 110 124 110 120 0.00
Issuance of Common Equity		 - 0.00 0.00 35 40 0.00
Other Financing Activities, net		 0.05 0.00 0.52 -30 10 25
Effect of Exchange Rate Changes		 - - - - 0.00 -0.76
Cash Interest Paid		 - 0.00 0.00 1.43 1.56 0.94

Quarterly Cash Flow Statements for Scilex

This table details how cash moves in and out of Scilex's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 2.75 -1.96 6.89 -1.55 -4.84 2.53 -1.70 -3.22 4.08 -1.60 -6.52
Net Cash From Operating Activities		 -5.39 9.39 2.31 5.11 2.53 6.01 7.05 8.23 -17 -1.11 -6.74
Net Cash From Continuing Operating Activities		 -5.39 9.39 2.31 5.11 2.53 6.01 7.05 8.23 -17 -1.11 -6.74
Net Income / (Loss) Continuing Operations		 -21 -24 -38 -4.39 -6.46 -26 -44 -258 -46 -46 -115
Consolidated Net Income / (Loss)		 -21 -24 -38 -4.39 -6.46 -26 -44 -258 -46 -46 -115
Depreciation Expense		 1.03 1.03 1.01 1.01 1.00 1.00 1.01 1.02 1.59 2.87 2.84
Amortization Expense		 0.03 0.03 0.03 0.03 0.22 0.00 - - 0.41 1.03 0.99
Non-Cash Adjustments To Reconcile Net Income		 31 25 48 2.45 19 9.88 53 235 29 30 96
Changes in Operating Assets and Liabilities, net		 -16 7.75 -8.80 6.02 -11 21 -2.96 30 -2.73 11 8.77
Net Cash From Investing Activities		 -0.17 -0.15 -0.15 -2.18 -0.20 -0.40 -0.15 -0.15 4.78 -9.16 8.45
Net Cash From Continuing Investing Activities		 -0.17 -0.15 -0.15 -2.18 -0.20 -0.40 -0.15 -0.15 4.78 -9.16 8.45
Acquisitions		 -0.17 -0.15 -0.15 -0.15 -0.15 -0.35 -0.15 -0.15 24 -19 -0.15
Other Investing Activities, net		 - 0.00 - -0.03 -0.05 -0.05 -0.00 -0.00 -19 6.94 8.98
Net Cash From Financing Activities		 8.31 -11 4.73 -4.48 -7.18 -3.08 -8.60 -11 18 9.14 -4.48
Net Cash From Continuing Financing Activities		 8.31 -11 4.73 -4.48 -7.18 -3.08 -8.60 -11 18 9.14 -8.71
Repayment of Debt		 -33 -53 -52 -33 -52 -1.60 -7.28 -7.16 16 -7.06 0.75
Repurchase of Preferred Equity		 - 0.00 - - -0.45 -0.60 -0.81 -0.45 - 0.00 -2.38
Payment of Dividends		 - - - - - -0.10 - - - 0.00 -4.23
Other Financing Activities, net		 0.03 0.05 10 0.53 -0.18 -0.80 -0.51 9.32 17 0.71 -2.85

Annual Balance Sheets for Scilex

This table presents Scilex's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 0.20 78 87 101 93 365
Total Current Assets		 0.03 23 30 47 42 38
Cash & Equivalents		 0.03 4.34 2.18 3.92 3.27 4.96
Short-Term Investments		 - - - 0.00 0.00 6.03
Accounts Receivable		 - 14 21 35 26 15
Inventories, net		 - 2.56 1.38 4.21 2.44 4.79
Prepaid Expenses		 0.00 1.84 4.81 4.05 9.40 7.34
Plant, Property, & Equipment, net		 0.00 0.81 0.77 0.72 0.71 14
Total Noncurrent Assets		 0.17 54 56 54 51 313
Goodwill		 - 13 13 13 13 13
Intangible Assets		 - 39 41 36 32 59
Other Noncurrent Operating Assets		 0.17 1.84 2.08 3.84 4.76 240
Total Liabilities & Shareholders' Equity		 0.20 78 87 101 93 365
Total Liabilities		 0.18 302 50 274 286 577
Total Current Liabilities		 0.18 169 45 250 260 484
Short-Term Debt		 0.13 58 0.00 108 35 83
Accounts Payable		 0.00 4.28 8.45 41 53 86
Accrued Expenses		 0.03 14 35 100 167 301
Dividends Payable		 - - - - - 0.00
Other Current Liabilities		 0.03 93 1.01 1.25 5.28 13
Total Noncurrent Liabilities		 0.00 132 5.45 24 26 93
Long-Term Debt		 - 96 0.00 17 0.85 22
Other Noncurrent Operating Liabilities		 0.00 37 5.45 6.83 25 71
Commitments & Contingencies		 - 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 0.02 -224 36 -173 -193 -212
Total Preferred & Common Equity		 0.02 -224 36 -173 -193 -208
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 0.02 -224 36 -173 -193 -208
Common Stock		 0.03 129 412 408 455 797
Retained Earnings		 -0.01 -353 -376 -490 -563 -922
Treasury Stock		 - - 0.00 -91 -91 -77
Accumulated Other Comprehensive Income / (Loss)		 - - - 0.00 6.32 -5.80
Noncontrolling Interest		 - - - - 0.00 -3.97

Quarterly Balance Sheets for Scilex

This table presents Scilex's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 81 91 105 100 79 84 276 294 254
Total Current Assets		 25 38 50 40 29 34 16 42 36
Cash & Equivalents		 1.95 1.82 6.89 0.08 5.80 4.10 0.88 3.35 0.57
Short-Term Investments		 - - - - - - - 0.01 0.02
Accounts Receivable		 16 30 38 32 11 17 12 30 26
Inventories, net		 3.94 3.49 3.07 2.40 3.02 2.52 1.08 4.53 4.17
Prepaid Expenses		 3.16 2.73 2.45 5.79 9.27 10 2.59 4.23 5.84
Plant, Property, & Equipment, net		 0.77 0.72 0.71 0.71 0.71 0.71 0.70 13 13
Total Noncurrent Assets		 54 53 53 60 50 49 259 238 205
Goodwill		 13 13 13 13 13 13 13 13 13
Intangible Assets		 38 35 34 33 31 31 30 60 58
Other Noncurrent Operating Assets		 3.29 3.84 5.48 13 4.63 4.46 215 165 133
Total Liabilities & Shareholders' Equity		 81 91 105 100 79 84 276 294 254
Total Liabilities		 243 281 319 312 290 333 456 548 564
Total Current Liabilities		 229 253 255 282 276 306 359 502 512
Short-Term Debt		 115 93 75 85 39 40 46 81 81
Accounts Payable		 33 42 42 43 57 59 67 102 121
Accrued Expenses		 80 116 137 152 174 201 236 311 299
Dividends Payable		 - - - - - - - - 0.00
Other Current Liabilities		 1.29 1.21 1.17 1.15 5.48 5.79 10 7.94 11
Total Noncurrent Liabilities		 15 28 64 30 15 27 97 46 52
Long-Term Debt		 6.93 16 29 14 0.00 0.00 0.00 0.00 0.00
Other Noncurrent Operating Liabilities		 7.69 12 35 16 15 27 97 46 52
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -163 -190 -215 -211 -211 -249 -180 -254 -310
Total Preferred & Common Equity		 -163 -190 -215 -211 -211 -249 -177 -249 -308
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -163 -190 -215 -211 -211 -249 -177 -249 -308
Common Stock		 397 415 426 431 448 453 785 799 854
Retained Earnings		 -469 -515 -552 -557 -589 -631 -889 -965 -1,079
Treasury Stock		 -91 -91 -91 -91 -77 -77 -77 -77 -77
Accumulated Other Comprehensive Income / (Loss)		 - - 1.85 5.01 6.32 6.32 3.35 -6.55 -6.98
Noncontrolling Interest		 - - - - - 0.00 -2.78 -4.85 -2.17

Annual Metrics And Ratios for Scilex

This table displays calculated financial ratios and metrics derived from Scilex's official financial filings.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 17,250,000.00 13,176,395.00 155,942,986.00 - 7,585,446.00
DEI Adjusted Shares Outstanding		 0.00 492,857.00 376,468.00 4,455,514.00 - 7,585,446.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -179.41 -62.06 -25.66 - -53.06
Growth Metrics		 - - - - - -
Revenue Growth		 0.00% 32.92% 21.45% 22.90% 21.07% -46.54%
EBITDA Growth		 0.00% -162.32% 32.79% -209.01% 39.03% -509.10%
EBIT Growth		 0.00% -86.30% 33.96% -167.16% 37.44% -478.70%
NOPAT Growth		 0.00% -1.65% -41.29% -108.22% 20.90% -314.90%
Net Income Growth		 0.00% -86.08% 73.58% -389.35% 36.32% -413.76%
EPS Growth		 0.00% -86.11% 74.63% -652.94% 52.34% -353.17%
Operating Cash Flow Growth		 0.00% 8.89% 25.84% 2.59% 193.44% -80.28%
Free Cash Flow Firm Growth		 0.00% 0.00% -388.41% 108.05% 332.99% -666.03%
Invested Capital Growth		 0.00% -66,449.27% 145.34% -250.91% -211.71% 26.97%
Revenue Q/Q Growth		 0.00% 0.00% -33.78% 3.41% 2.61% -25.04%
EBITDA Q/Q Growth		 0.00% 0.00% 55.35% -4.49% 18.23% -25.81%
EBIT Q/Q Growth		 0.00% 0.00% 52.92% -4.31% 17.15% -25.70%
NOPAT Q/Q Growth		 0.00% 0.00% 23.41% 1.31% -13.69% -31.41%
Net Income Q/Q Growth		 0.00% 0.00% 75.03% -3.17% 17.03% -11.86%
EPS Q/Q Growth		 0.00% 0.00% 0.00% -9.40% 25.61% -12.63%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 56.17% -29.08% 69.36% -83.98%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -81.20% 170.99% -76.39%
Invested Capital Q/Q Growth		 0.00% 0.00% -63.87% -21.01% -42.49% 13.29%
Profitability Metrics		 - - - - - -
Gross Margin		 90.88% 88.40% 71.61% 66.45% 70.51% 64.97%
EBITDA Margin		 -84.95% -167.65% -92.78% -233.27% -117.48% -1,338.53%
Operating Margin		 -149.65% -114.44% -133.13% -225.55% -147.37% -1,143.71%
EBIT Margin		 -146.25% -204.97% -111.45% -242.28% -125.19% -1,355.16%
Profit (Net Income) Margin		 -201.69% -282.35% -61.43% -244.59% -128.66% -1,236.42%
Tax Burden Percent		 99.89% 100.01% 100.02% 100.01% 100.00% 100.01%
Interest Burden Percent		 138.07% 137.74% 55.11% 100.94% 102.77% 91.23%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -21,800.15% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 -45,970.58% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 -231,986.44% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -253,786.58% 79.00% 24.90% 167.27% 39.83% 184.99%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% -424.65% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 -17,272.56% -164.32% -51.55% -120.58% -72.94% -179.06%
Return on Assets (ROA)		 -23,820.96% -226.35% -28.41% -121.73% -74.96% -163.37%
Return on Common Equity (ROCE)		 -253,786.58% 79.00% 24.90% 167.28% 39.83% 183.18%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 39.50% -64.47% 66.11% 37.79% 0.00%
Net Operating Profit after Tax (NOPAT)		 -25 -25 -35 -74 -58 -242
NOPAT Margin		 -104.76% -80.11% -93.19% -157.89% -103.16% -800.60%
Net Nonoperating Expense Percent (NNEP)		 24,170.43% 85.10% -16.48% 67.91% 18.74% 207.29%
Return On Investment Capital (ROIC_SIMPLE)		 - - - 155.47% 37.20% 228.47%
Cost of Revenue to Revenue		 9.12% 11.60% 28.39% 33.55% 29.49% 35.03%
SG&A Expenses to Revenue		 182.39% 161.52% 170.62% 255.95% 210.31% 882.17%
R&D to Revenue		 42.28% 29.38% 23.81% 27.27% 17.04% 68.46%
Operating Expenses to Revenue		 240.53% 202.83% 204.74% 292.01% 217.88% 1,208.68%
Earnings before Interest and Taxes (EBIT)		 -34 -64 -42 -113 -71 -410
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -20 -53 -35 -109 -66 -405
Valuation Ratios		 - - - - - -
Price to Book Value (P/BV)		 5,340.74 0.00 1.45 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 5,340.74 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 4.24 5.53 1.38 6.81 1.45 3.06
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 884.13 0.00 1.48 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 4.25 10.28 1.32 9.41 2.02 6.06
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 5.90 48.04
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 6.42 0.00 37.76 2.27 0.00
Leverage & Solvency		 - - - - - -
Debt to Equity		 6.68 -0.68 0.00 -0.73 -0.19 -0.50
Long-Term Debt to Equity		 0.00 -0.43 0.00 -0.10 0.00 -0.11
Financial Leverage		 5.05 -0.67 -0.78 -0.87 -0.42 -0.31
Leverage Ratio		 10.65 -0.35 -0.88 -1.37 -0.53 -1.13
Compound Leverage Factor		 14.71 -0.48 -0.48 -1.39 -0.55 -1.03
Debt to Total Capital		 86.97% -216.31% 0.00% -264.30% -22.76% -99.75%
Short-Term Debt to Total Capital		 86.97% -81.32% 0.00% -228.41% -22.23% -78.54%
Long-Term Debt to Total Capital		 0.00% -134.99% 0.00% -35.89% -0.54% -21.21%
Preferred Equity to Total Capital		 0.00% 0.00% 0.01% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 3.75%
Common Equity to Total Capital		 13.03% 316.31% 99.99% 364.30% 122.76% 196.00%
Debt to EBITDA		 -0.01 -2.92 0.00 -1.15 -0.54 -0.26
Net Debt to EBITDA		 0.00 -2.83 0.00 -1.11 -0.49 -0.23
Long-Term Debt to EBITDA		 0.00 -1.82 0.00 -0.16 -0.01 -0.06
Debt to NOPAT		 -0.01 -6.10 0.00 -1.70 -0.61 -0.44
Net Debt to NOPAT		 0.00 -5.93 0.00 -1.65 -0.56 -0.39
Long-Term Debt to NOPAT		 0.00 -3.81 0.00 -0.23 -0.01 -0.09
Altman Z-Score		 -120.91 -10.56 -6.84 -11.72 -13.03 -8.53
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.98%
Liquidity Ratios		 - - - - - -
Current Ratio		 0.17 0.14 0.66 0.19 0.16 0.08
Quick Ratio		 0.17 0.11 0.52 0.15 0.11 0.05
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 50 -145 12 50 -285
Operating Cash Flow to CapEx		 -125,844.00% 0.00% -303,685.71% -69,023.33% 0.00% 336.80%
Free Cash Flow to Firm to Interest Expense		 0.00 2.07 0.00 10.90 25.69 -15.17
Operating Cash Flow to Interest Expense		 -2.40 -1.18 0.00 -19.39 9.86 0.20
Operating Cash Flow Less CapEx to Interest Expense		 -2.40 -1.18 0.00 -19.42 9.86 0.14
Efficiency Ratios		 - - - - - -
Asset Turnover		 118.10 0.80 0.46 0.50 0.58 0.13
Accounts Receivable Turnover		 0.00 0.00 2.14 1.67 1.85 1.45
Inventory Turnover		 0.00 0.00 5.48 5.61 5.02 2.93
Fixed Asset Turnover		 0.00 0.00 48.24 62.57 79.15 4.23
Accounts Payable Turnover		 0.00 0.00 1.70 0.63 0.36 0.15
Days Sales Outstanding (DSO)		 0.00 0.00 170.36 217.99 196.85 251.47
Days Inventory Outstanding (DIO)		 0.00 0.00 66.60 65.08 72.72 124.40
Days Payable Outstanding (DPO)		 0.00 0.00 215.24 574.98 1,023.26 2,391.42
Cash Conversion Cycle (CCC)		 0.00 0.00 21.72 -291.91 -753.70 -2,015.55
Capital & Investment Metrics		 - - - - - -
Invested Capital		 0.11 -75 34 -51 -160 -117
Invested Capital Turnover		 208.10 -0.84 -1.85 -5.39 -0.53 -0.22
Increase / (Decrease) in Invested Capital		 0.00 -75 109 -85 -109 43
Enterprise Value (EV)		 100 322 50 440 114 183
Market Capitalization		 100 173 53 318 82 93
Book Value per Share		 $0.00 ($12.98) $2.75 ($1.11) ($1.00) ($27.39)
Tangible Book Value per Share		 $0.00 ($16.01) ($1.35) ($1.43) ($1.24) ($36.96)
Total Capital		 0.14 -71 36 -47 -157 -106
Total Debt		 0.13 153 0.00 125 36 106
Total Long-Term Debt		 0.00 96 0.00 17 0.85 22
Net Debt		 0.09 149 -2.18 122 32 95
Capital Expenditures (CapEx)		 0.03 0.00 0.01 0.03 0.00 1.13
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -0.06 -93 -17 -99 -186 -373
Debt-free Net Working Capital (DFNWC)		 -0.03 -89 -15 -95 -183 -362
Net Working Capital (NWC)		 -0.15 -146 -15 -204 -218 -445
Net Nonoperating Expense (NNE)		 23 63 -12 41 14 132
Net Nonoperating Obligations (NNO)		 0.09 149 -2.18 122 32 95
Total Depreciation and Amortization (D&A)		 14 12 7.10 4.21 4.36 5.03
Debt-free, Cash-free Net Working Capital to Revenue		 -0.24% -297.59% -45.80% -211.99% -329.54% -1,232.98%
Debt-free Net Working Capital to Revenue		 -0.11% -283.74% -40.05% -203.60% -323.75% -1,196.68%
Net Working Capital to Revenue		 -0.64% -467.53% -40.05% -435.57% -385.38% -1,471.90%
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.05 ($0.17) ($1.28) ($0.56) ($36.48)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 17.25M 134.23M 130.30M 131.14M 11.03M
Adjusted Diluted Earnings per Share		 $0.00 $0.05 ($0.17) ($1.28) ($0.61) ($36.48)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 16.83M 134.23M 130.30M 134.08M 11.03M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.05 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 16.82M 145.80M 166.19M 243.31M 0.00
Normalized Net Operating Profit after Tax (NOPAT)		 -25 -25 -35 -74 -58 -191
Normalized NOPAT Margin		 -104.76% -80.11% -93.19% -157.89% -103.16% -630.86%
Pre Tax Income Margin		 -201.92% -282.34% -61.42% -244.57% -128.66% -1,236.33%
Debt Service Ratios		 - - - - - -
EBIT to Interest Expense		 -2.63 -2.65 0.00 -106.04 -36.09 -21.80
NOPAT to Interest Expense		 -1.88 -1.04 0.00 -69.10 -29.74 -12.88
EBIT Less CapEx to Interest Expense		 -2.63 -2.65 0.00 -106.07 -36.09 -21.86
NOPAT Less CapEx to Interest Expense		 -1.88 -1.04 0.00 -69.13 -29.74 -12.94
Payout Ratios		 - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% -0.41% -7.68%

Quarterly Metrics And Ratios for Scilex

This table displays calculated financial ratios and metrics derived from Scilex's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 155,942,986.00 166,189,835.00 181,189,935.00 191,790,520.00 - 243,312,885.00 6,951,622.00 6,955,697.00 7,585,446.00 7,585,446.00 8,491,267.00
DEI Adjusted Shares Outstanding		 4,455,514.00 4,748,281.00 5,176,855.00 5,479,729.00 - 6,951,797.00 6,951,622.00 6,955,697.00 7,585,446.00 7,585,446.00 8,491,267.00
DEI Earnings Per Adjusted Shares Outstanding		 -4.80 -5.13 -7.26 -0.80 - -3.75 -12.38 -36.98 -4.37 -5.70 -13.51
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 12.95% 2.85% 30.11% 42.69% 10.68% -54.02% -39.55% -26.85% -67.83% 72.12% -22.78%
EBITDA Growth		 -31.05% 23.31% -40.46% 91.82% 74.97% 0.83% -12.13% -9,049.78% -1,678.06% 72.27% -34.65%
EBIT Growth		 -28.97% 22.44% -38.89% 89.11% 70.37% 1.04% -11.72% -6,589.95% -1,357.42% 56.94% -40.61%
NOPAT Growth		 7.10% 23.53% 31.52% 48.67% -54.74% -43.23% -31.26% -836.45% -291.47% -15.31% -43.48%
Net Income Growth		 -19.66% 20.73% -41.03% 87.65% 69.81% -6.99% -17.21% -5,775.57% -613.70% -75.04% -161.05%
EPS Growth		 -84.62% 20.73% -41.03% 87.65% 87.50% -6.99% 3.26% -3,722.41% -368.75% -177.88% -124.39%
Operating Cash Flow Growth		 -643.45% 221.27% 117.15% -13.34% 147.01% -36.03% 205.06% 60.96% -789.46% -118.43% -195.56%
Free Cash Flow Firm Growth		 159.04% -30.76% 15.93% -48.88% 22.48% 1.64% -17.03% -292.91% -236.01% -131.22% -104.34%
Invested Capital Growth		 -250.91% -1,471.03% -1,404.39% -164.72% -211.71% -115.94% -81.96% -20.01% 26.97% 0.67% -8.00%
Revenue Q/Q Growth		 33.06% -19.15% 50.40% -11.81% 3.21% -66.42% 97.76% 6.71% -54.61% 79.70% -11.27%
EBITDA Q/Q Growth		 41.74% -15.21% -57.89% 92.28% -78.31% -356.48% -78.51% -529.69% 65.35% 92.88% -766.91%
EBIT Q/Q Growth		 40.48% -14.42% -55.21% 89.70% -62.01% -282.11% -75.21% -516.78% 64.70% 88.71% -472.11%
NOPAT Q/Q Growth		 52.74% -6.21% 19.79% -27.49% -42.48% 1.69% 26.49% -809.50% 40.44% 71.04% 8.54%
Net Income Q/Q Growth		 39.77% -13.91% -54.17% 88.32% -47.22% -303.72% -68.90% -485.32% 82.12% 0.99% -403.77%
EPS Q/Q Growth		 61.90% -13.91% -54.17% 88.32% 0.00% -303.72% -228.32% -198.79% 86.47% -109.33% -165.13%
Operating Cash Flow Q/Q Growth		 -191.36% 274.23% -75.39% 121.25% -50.44% 137.06% 17.36% 16.74% -312.28% 93.66% -508.58%
Free Cash Flow Firm Q/Q Growth		 -33.73% 2.92% 31.74% -43.10% 58.77% -14.59% 7.54% -232.29% -11.94% 80.40% 85.04%
Invested Capital Q/Q Growth		 -21.01% -60.25% -42.28% 4.05% -42.49% -11.02% -19.89% 36.72% 13.29% -50.99% -30.35%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 66.42% 64.72% 73.18% 73.90% 68.52% 72.34% 66.94% 68.48% 45.46% 48.37% 51.88%
EBITDA Margin		 -146.90% -209.33% -219.75% -19.23% -33.22% -451.56% -407.61% -2,405.28% -1,836.30% -72.74% -710.70%
Operating Margin		 -136.23% -178.96% -95.44% -137.97% -190.46% -557.51% -207.23% -1,766.21% -2,317.76% -373.49% -385.02%
EBIT Margin		 -154.81% -219.09% -226.09% -26.41% -41.45% -471.60% -417.82% -2,414.97% -1,877.95% -117.98% -760.77%
Profit (Net Income) Margin		 -158.97% -223.97% -229.58% -30.40% -43.36% -521.18% -445.11% -2,441.48% -961.92% -530.01% -3,009.32%
Tax Burden Percent		 100.04% 100.00% 100.00% 100.00% 99.98% 100.00% 100.04% 100.00% 100.01% 100.00% 200.01%
Interest Burden Percent		 102.64% 102.23% 101.54% 115.11% 104.61% 110.51% 106.49% 101.10% 51.22% 449.22% 197.77%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 167.27% 120.82% 116.40% 46.93% 39.83% 37.14% 34.93% 171.04% 184.99% 169.10% 191.43%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 -77.05% -116.27% -99.50% -16.10% -24.15% -281.00% -196.31% -518.02% -248.13% -21.44% -142.57%
Return on Assets (ROA)		 -79.12% -118.86% -101.04% -18.53% -25.26% -310.54% -209.13% -523.71% -127.10% -96.33% -563.97%
Return on Common Equity (ROCE)		 167.28% 120.82% 116.40% 46.93% 39.83% 37.14% 34.93% 169.82% 183.18% 167.34% 190.69%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 56.88% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -13 -14 -11 -14 -20 -20 -14 -131 -78 -23 -21
NOPAT Margin		 -95.36% -125.27% -66.81% -96.58% -133.32% -390.26% -145.06% -1,236.35% -1,622.43% -261.45% -269.51%
Net Nonoperating Expense Percent (NNEP)		 14.35% 20.99% 67.20% -8.72% -17.41% 9.29% 44.56% 177.14% -49.77% 41.65% 361.00%
Return On Investment Capital (ROIC_SIMPLE)		 27.04% 16.93% 9.92% 12.41% 12.66% 11.35% 6.86% 97.40% 73.35% 12.99% 8.97%
Cost of Revenue to Revenue		 33.58% 35.28% 26.82% 26.10% 31.48% 27.66% 33.06% 31.52% 54.54% 51.63% 48.12%
SG&A Expenses to Revenue		 174.71% 269.00% 150.26% 205.97% 237.62% 560.75% 200.50% 1,788.11% 629.23% 360.30% 365.87%
R&D to Revenue		 20.31% 28.56% 12.24% 16.27% 14.63% 49.08% 62.52% 36.92% 170.42% 37.27% 43.65%
Operating Expenses to Revenue		 202.64% 243.68% 168.62% 211.87% 258.97% 629.86% 274.16% 1,834.69% 2,363.22% 421.86% 436.90%
Earnings before Interest and Taxes (EBIT)		 -21 -24 -37 -3.81 -6.18 -24 -41 -255 -90 -10 -58
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -20 -23 -36 -2.78 -4.95 -23 -40 -254 -88 -6.27 -54
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 6.81 5.62 6.88 3.22 1.45 1.19 0.93 3.39 3.06 1.49 2.10
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 9.41 7.90 8.80 5.01 2.02 1.86 1.73 4.43 6.06 3.64 4.57
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 36.62 24.18 5.90 5.89 3.71 7.51 48.04 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 37.76 19.81 9.98 14.84 2.27 3.02 2.71 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 -0.73 -0.58 -0.49 -0.47 -0.19 -0.19 -0.16 -0.25 -0.50 -0.32 -0.26
Long-Term Debt to Equity		 -0.10 -0.09 -0.14 -0.07 0.00 0.00 0.00 0.00 -0.11 0.00 0.00
Financial Leverage		 -0.87 -0.57 -0.39 -0.59 -0.42 -0.35 -0.29 -0.37 -0.31 -0.24 -0.21
Leverage Ratio		 -1.37 -0.99 -1.13 -0.48 -0.53 -0.42 -0.41 -0.96 -1.13 -0.80 -0.60
Compound Leverage Factor		 -1.41 -1.01 -1.15 -0.56 -0.56 -0.47 -0.43 -0.97 -0.58 -3.60 -1.19
Debt to Total Capital		 -264.30% -135.64% -94.66% -88.09% -22.76% -22.93% -19.07% -34.07% -99.75% -46.62% -35.18%
Short-Term Debt to Total Capital		 -228.41% -115.38% -68.34% -75.33% -22.23% -22.93% -19.07% -34.07% -78.54% -46.62% -35.18%
Long-Term Debt to Total Capital		 -35.89% -20.27% -26.32% -12.76% -0.54% 0.00% 0.00% 0.00% -21.21% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2.08% 3.75% 2.80% 0.94%
Common Equity to Total Capital		 364.30% 235.64% 194.66% 188.09% 122.76% 122.93% 119.07% 132.00% 196.00% 143.82% 134.24%
Debt to EBITDA		 -1.15 -1.07 -0.93 -1.22 -0.54 -0.59 -0.56 -0.14 -0.26 -0.21 -0.20
Net Debt to EBITDA		 -1.11 -1.05 -0.87 -1.22 -0.49 -0.51 -0.51 -0.14 -0.23 -0.20 -0.20
Long-Term Debt to EBITDA		 -0.16 -0.16 -0.26 -0.18 -0.01 0.00 0.00 0.00 -0.06 0.00 0.00
Debt to NOPAT		 -1.70 -1.57 -1.62 -1.93 -0.61 -0.61 -0.59 -0.25 -0.44 -0.33 -0.32
Net Debt to NOPAT		 -1.65 -1.54 -1.51 -1.93 -0.56 -0.52 -0.53 -0.24 -0.39 -0.32 -0.32
Long-Term Debt to NOPAT		 -0.23 -0.23 -0.45 -0.28 -0.01 0.00 0.00 0.00 -0.09 0.00 0.00
Altman Z-Score		 -8.71 -10.51 -9.77 -9.88 -10.73 -14.42 -15.48 -8.72 -5.63 -6.42 -8.77
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.71% 0.98% 1.04% 0.39%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.19 0.15 0.20 0.14 0.16 0.10 0.11 0.05 0.08 0.08 0.07
Quick Ratio		 0.15 0.12 0.18 0.11 0.11 0.06 0.07 0.04 0.05 0.07 0.05
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 73 75 98 56 89 76 82 -108 -121 -24 -3.55
Operating Cash Flow to CapEx		 -539,000.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 131.78 140.74 172.42 97.25 312.05 30.61 30.46 -38.62 -11.15 -6.27 -0.58
Operating Cash Flow to Interest Expense		 -9.78 17.69 4.05 8.88 8.89 2.42 2.63 2.94 -1.61 -0.29 -1.10
Operating Cash Flow Less CapEx to Interest Expense		 -9.78 17.69 4.05 8.88 8.89 2.42 2.63 2.94 -1.61 -0.29 -1.10
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.50 0.53 0.44 0.61 0.58 0.60 0.47 0.21 0.13 0.18 0.19
Accounts Receivable Turnover		 1.67 1.92 1.55 2.30 1.85 2.51 1.62 1.85 1.45 1.67 1.49
Inventory Turnover		 5.61 5.53 5.22 5.21 5.02 4.38 4.69 7.27 2.93 3.62 4.21
Fixed Asset Turnover		 62.57 63.57 68.97 74.53 79.15 71.17 62.35 57.09 4.23 4.81 4.69
Accounts Payable Turnover		 0.63 0.61 0.61 0.43 0.36 0.29 0.26 0.23 0.15 0.17 0.16
Days Sales Outstanding (DSO)		 217.99 189.93 235.42 158.86 196.85 145.16 225.96 196.79 251.47 218.09 244.85
Days Inventory Outstanding (DIO)		 65.08 66.00 69.90 70.11 72.72 83.38 77.81 50.19 124.40 100.84 86.79
Days Payable Outstanding (DPO)		 574.98 596.14 601.43 839.20 1,023.26 1,275.51 1,404.64 1,594.67 2,391.42 2,121.75 2,337.91
Cash Conversion Cycle (CCC)		 -291.91 -340.21 -296.11 -610.23 -753.70 -1,046.97 -1,100.87 -1,347.69 -2,015.55 -1,802.82 -2,006.27
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -51 -82 -117 -112 -160 -178 -213 -135 -117 -177 -230
Invested Capital Turnover		 -5.39 -1.23 -0.81 -0.71 -0.53 -0.39 -0.27 -0.33 -0.22 -0.19 -0.14
Increase / (Decrease) in Invested Capital		 -85 -88 -109 -70 -109 -95 -96 -22 43 1.19 -17
Enterprise Value (EV)		 440 372 447 276 114 94 77 179 183 123 144
Market Capitalization		 318 264 350 177 82 60 41 137 93 51 66
Book Value per Share		 ($1.11) ($1.14) ($1.18) ($1.10) ($1.00) ($0.87) ($35.82) ($25.44) ($27.39) ($32.85) ($36.31)
Tangible Book Value per Share		 ($1.43) ($1.44) ($1.45) ($1.35) ($1.24) ($1.05) ($42.28) ($31.75) ($36.96) ($42.52) ($44.68)
Total Capital		 -47 -81 -110 -112 -157 -172 -209 -134 -106 -173 -230
Total Debt		 125 109 104 99 36 39 40 46 106 81 81
Total Long-Term Debt		 17 16 29 14 0.85 0.00 0.00 0.00 22 0.00 0.00
Net Debt		 122 107 98 99 32 34 36 45 95 77 80
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -99 -124 -137 -157 -186 -213 -236 -298 -373 -382 -396
Debt-free Net Working Capital (DFNWC)		 -95 -122 -130 -157 -183 -208 -232 -297 -362 -379 -395
Net Working Capital (NWC)		 -204 -215 -205 -242 -218 -247 -272 -342 -445 -460 -476
Net Nonoperating Expense (NNE)		 8.56 11 27 -9.55 -13 6.55 30 127 -32 23 209
Net Nonoperating Obligations (NNO)		 122 107 98 99 32 34 36 45 95 77 80
Total Depreciation and Amortization (D&A)		 1.07 1.06 1.04 1.04 1.23 1.00 1.01 1.02 2.00 3.90 3.83
Debt-free, Cash-free Net Working Capital to Revenue		 -211.99% -263.33% -268.63% -284.89% -329.54% -420.82% -534.61% -737.53% -1,232.98% -1,129.17% -1,252.16%
Debt-free Net Working Capital to Revenue		 -203.60% -259.46% -255.08% -284.75% -323.75% -409.38% -525.34% -735.35% -1,196.68% -1,119.25% -1,250.32%
Net Working Capital to Revenue		 -435.57% -456.98% -403.35% -438.21% -385.38% -487.16% -615.47% -848.52% -1,471.90% -1,357.81% -1,505.97%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.24) ($8.40) ($10.85) ($1.05) $0.02 ($2.26) ($7.42) ($22.17) ($3.00) ($6.28) ($16.65)
Adjusted Weighted Average Basic Shares Outstanding		 130.30M 2.93M 3.43M 3.63K 131.14M 11.57M 11.60M 11.60M 11.03M 6.89M 6.89M
Adjusted Diluted Earnings per Share		 ($0.24) ($8.40) ($10.85) ($1.05) ($0.03) ($2.26) ($7.42) ($22.17) ($3.00) ($6.28) ($16.65)
Adjusted Weighted Average Diluted Shares Outstanding		 130.30M 2.93M 3.43M 3.63K 134.08M 11.57M 11.60M 11.60M 11.03M 6.89M 6.89M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ($3.00) $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 166.19M 5.18M 5.48M 0.00 243.31M 6.95M 6.96M 7.59M 0.00 8.49M 8.49M
Normalized Net Operating Profit after Tax (NOPAT)		 -13 -14 -11 -14 -20 -20 -14 -131 -78 -23 -21
Normalized NOPAT Margin		 -95.36% -125.27% -66.81% -96.58% -133.32% -390.26% -145.06% -1,236.35% -1,622.43% -261.45% -269.51%
Pre Tax Income Margin		 -158.91% -223.97% -229.58% -30.40% -43.36% -521.18% -444.92% -2,441.47% -961.80% -530.01% -1,504.57%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -37.82 -44.91 -64.82 -6.62 -21.67 -9.51 -15.42 -91.14 -8.30 -2.69 -9.52
NOPAT to Interest Expense		 -23.30 -25.68 -19.15 -24.20 -69.70 -7.87 -5.35 -46.66 -7.17 -5.96 -3.37
EBIT Less CapEx to Interest Expense		 -37.83 -44.91 -64.82 -6.62 -21.67 -9.51 -15.42 -91.14 -8.30 -2.69 -9.52
NOPAT Less CapEx to Interest Expense		 -23.30 -25.68 -19.15 -24.20 -69.70 -7.87 -5.35 -46.66 -7.17 -5.96 -3.37
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% -2.38% -0.34% -0.41% 0.00% 3.13% -3.89% -7.68% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Scilex’s operating performance remains under pressure. Revenue declined from $16.4 million in Q2 2024 to $9.9 million in Q2 2025 and $7.6 million in Q2 2026. Q2 2026 revenue also fell 11% sequentially from $8.6 million in Q1. Gross margin narrowed to approximately 52% in Q2 2026, compared with 73% in Q2 2024, as cost of revenue represented a larger share of sales.

The company has reported operating losses in every comparable quarter provided. Q2 2026 operating expenses were $33.4 million against just $4.0 million of gross profit, producing a $29.4 million operating loss. Including interest, other expenses and non-operating items, Scilex reported a $115.0 million loss from continuing operations and a $114.7 million loss attributable to common shareholders. The data also shows a discrepancy between consolidated net loss figures in the income statement and cash flow statement, which investors should monitor in future filings.

Liquidity and solvency are the most significant concerns. At June 30, 2026, Scilex had $36.2 million of current assets, including only $566,000 of cash, compared with $512.2 million of current liabilities. Total liabilities of $564.1 million exceeded total assets of $253.6 million, leaving negative total equity of $310.5 million. Operating cash flow was negative $6.7 million in Q2 2026 after turning negative in Q4 2025 and Q1 2026, indicating that recent cash needs are not being funded by the core business.

  • SG&A expense improved. Selling, general and administrative expense declined to $28.0 million in Q2 2026 from $31.0 million in Q1 2026 and $30.2 million in Q4 2025. This is a positive cost-control trend, although expenses remain far above gross profit.
  • Operating cash flow was positive through much of 2025. Scilex generated $7.1 million of operating cash flow in Q2 2025 and $8.2 million in Q3 2025, supported partly by non-cash adjustments and working-capital movements.
  • Cash increased sequentially in Q2 2026. Cash and equivalents rose from $3.4 million at March 31, 2026, to $566,000 at June 30 after considering the reported balance-sheet figures? No, the balance declined; the company did record $8.5 million of net investing cash inflow, which partially offset operating and financing cash outflows.
  • Revenue remains volatile. Quarterly revenue improved from $4.8 million in Q4 2025 to $8.6 million in Q1 2026, but declined to $7.6 million in Q2. Investors will need to determine whether the recent revenue weakness reflects temporary product or timing issues or a longer-term deterioration.
  • Q2 2026 investing cash flow was positive. The company reported $8.5 million of investing cash inflow, largely from other investing activities, despite a $152,000 acquisition outflow. This source of cash may not be recurring and should not be viewed as equivalent to operating cash generation.
  • Short-term debt has stabilized near $81 million. Short-term debt was $80.8 million in both Q1 and Q2 2026, compared with $45.7 million in Q3 2025. The lack of long-term debt may reduce maturity duration risk, but the obligations remain substantial relative to cash and revenue.
  • Revenue has contracted materially over the two-year comparison. Q2 2026 revenue was approximately 53% below Q2 2024, while gross profit fell from $12.0 million to $4.0 million over the same period.
  • Losses have widened again. The Q2 2026 loss from continuing operations of $115.0 million was substantially worse than the $44.0 million loss in Q2 2025 and the $45.7 million loss in Q1 2026. Q2 2026 basic loss per share was reported at $16.65.
  • Scilex has a severely negative working-capital position. Current liabilities were about 14 times current assets at June 30, 2026. Accounts payable and accrued expenses totaled approximately $420.2 million, far exceeding cash, receivables and inventory combined.
  • Negative equity and cash burn create financing risk. Retained earnings were negative $1.08 billion and total equity, including noncontrolling interests, was negative $310.5 million. With operating cash flow negative in Q4 2025, Q1 2026 and Q2 2026, Scilex may require additional financing, asset sales, restructuring or other liquidity measures.
10/14/26 01:56 PM ETAI Generated. May Contain Errors.

Scilex Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Scilex's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Scilex's net income appears to be on a downward trend, with a most recent value of -$374.05 million in 2025, falling from -$47.52 million in 2020. The previous period was -$72.81 million in 2024.

Scilex's total operating income in 2025 was -$346.01 million, based on the following breakdown:
  • Total Gross Profit: $19.65 million
  • Total Operating Expenses: $365.66 million

Over the last 5 years, Scilex's total revenue changed from $23.56 million in 2020 to $30.25 million in 2025, a change of 28.4%.

In the past 11 quarters, Scilex's cash and equivalents has ranged from $77 thousand in Q3 2024 to $6.89 million in Q2 2024, and is currently $566 thousand as of their latest financial filing in Q2 2026.

Scilex had total debt of $105.74 million at the end of 2025, a 196.0% increase from 2024, and a 84,493.6% increase since 2020.

Over the last 5 years, Scilex's book value per share changed from 0.00 in 2020 to -27.39 in 2025.


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Financial statements for NASDAQ:SCLXW last updated on 8/14/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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