Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data Scilex Holding Co files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
23.6
31.3
38
46.7
56.6
30.3
Cost of revenue
2.15
3.63
10.8
15.7
16.7
10.6
Gross profit
21.4
27.7
27.2
31.1
167
126
Research and development
9.96
9.2
9.05
12.7
9.64
20.7
Selling, general and administrative
43
50.6
64.9
120
119
267
Operating income
-35.3
-35.8
-50.6
-105
-83.4
-346
Interest expense
13.1
11.8
9.6
1.07
1.96
11.5
Interest income
0.03
Other non-operating income
-12.3
-52.6
27.3
-8.89
10.6
-28
Pre-tax income
-47.6
-88.4
-23.4
-114
-72.8
-374
Income tax
-0.05
0.01
0
0.01
-0
0.03
Net income to minority interests
11.8
Net income
-47.5
-88.4
-23.4
-114
-72.8
-374
EBITDA
-31.5
-32.1
-46.7
-101
-79.4
-341
EPS, basic
-4.75
-8.84
-2.24
-16.89
-7.24
-36.48
EPS, diluted
-4.75
-8.84
-2.24
-16.89
-8.05
-36.48
Shares, basic (weighted)
0.01
10.1
10.2
9.87
0.01
0.01
Shares, diluted (weighted)
0.01
10.1
10.2
9.87
0.01
0.01
Balance sheet
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
0.03
4.34
2.18
3.92
3.27
4.96
Short-term investments
0.3
Receivables
14.3
21.2
34.6
26.4
15.2
Inventory
2.56
1.38
4.21
2.44
4.79
Other current assets
0
Total current assets
0.03
23
29.6
46.8
41.5
38.4
Property, plant and equipment
0.81
0.77
0.72
0.71
13.6
Lease right-of-use assets
1.3
1.13
2.94
2.23
14.8
Goodwill
13.5
13.5
13.5
13.5
13.5
Intangible assets
38.8
40.6
36.5
32.5
59.1
Total assets
0.2
77.9
86.5
101
93
365
Accounts payable
4.28
8.45
41
52.6
86.3
Short-term debt
29.1
0
108
34.9
83.3
Total current liabilities
0.18
169
44.8
250
260
484
Lease liabilities
1.15
0.67
2.24
1.52
13.2
Other non-current liabilities
0
0.16
0.18
0.16
0.17
Total liabilities
0.18
302
50.3
274
286
577
Total debt
72
0
Paid-in capital
0.02
129
412
408
455
797
Retained earnings
-0.01
-353
-376
-490
-563
-922
Treasury stock
0
-90.5
-90.5
-76.9
Other comprehensive income
0
6.32
-5.8
Shareholders' equity
0.02
-224
36.2
-173
-193
-208
Minority interests
0
-3.97
Total equity
-142
-224
36.2
-173
-193
-212
Total liabilities and equity
0.2
77.9
86.5
101
93
365
Shares outstanding
0.26
10.1
10.7
7.58
5.24
7.03
Cash flow statement
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-47.5
-88.4
-23.4
-114
-72.8
-374
Depreciation and amortization
3.78
3.78
3.96
4.15
4.05
4.62
Stock-based compensation
5.4
5.82
5.28
14.6
15.7
15.5
Deferred income tax
-4.1
-15.5
-12.2
-27.8
-19.1
13.6
Change in receivables
-0.6
-1.14
-6.97
-13.4
-6.27
13.8
Change in inventory
2.38
-1.42
1.18
-2.84
1.46
1.8
Change in payables
-1.07
0.66
-0.12
2.31
-8.17
14.6
Cash from operations
-31.5
-28.7
-21.3
-20.7
19.3
3.82
Capital expenditures
-0.03
0
-0.01
-0.03
0
-0.13
Cash from investing
-0.03
0
-2.07
-0.33
-2.68
4.08
Debt issued
0
25
0
Debt repaid
-5
-64.2
0
Stock issued
0.05
0
0
35.5
2.11
0.02
Dividends paid
-8.65
-8.65
Cash from financing
-19.2
28.2
21.2
23.6
-18.1
-5.46
Exchange rate effect
0
-0.76
Net change in cash
-50.7
-0.5
-2.15
2.55
-1.46
1.68
Free cash flow
-31.5
-28.7
-21.3
-20.7
19.3
3.68
Income taxes paid
0.02
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $4.89 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
161.1%
Gross profit / revenue.
Operating margin
-1,136.0%
Operating income / revenue.
EBITDA margin
-1,120.0%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-1,470.0%
Pre-tax income / revenue.
Net margin
-1,470.0%
Net income / revenue.
Operating cash flow margin
-54.1%
Cash from operations / revenue.
Return on assets (ROA)
-183.2%
Net income / average total assets.
R&D / revenue
58.9%
Research and development expense / revenue.
SG&A / revenue
879.4%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
51.0%
Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue
16.6%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-46.5%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-7.3%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
5.1%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
-24.9%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
66.5%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
42.5%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y
-80.3%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y
-81.0%
Free cash flow vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
292.7%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
61.6%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
349.2%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
8.8%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
-89.7%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
1.8%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.07x
Current assets / current liabilities.
Quick ratio
0.01x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.00x
(Cash + short-term investments) / current liabilities.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$67.41
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$4.59
Revenue / diluted weighted shares.
Operating cash flow per share
-$2.48
Cash from operations / diluted weighted shares.
Book value per share
-$43.83
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
1.31x
Market cap / revenue.
EV/Sales
1.30x
Enterprise value / revenue.
Earnings yield
-1,119.0%
Net income / market cap (the inverse of P/E).
What was Scilex Holding Co's revenue in fiscal 2025?
Scilex Holding Co reported revenue of $30.3M for fiscal 2025, 46.5% lower than the year before.
Was Scilex Holding Co profitable in fiscal 2025?
No. It reported a net loss of $374.1M.
How much free cash flow did Scilex Holding Co generate in fiscal 2025?
Cash from operations of $3.8M minus capital expenditures of $133.0K left free cash flow of $3.7M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.