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MARKETS / NASDAQ / SCLX
NASDAQ · BIOLOGICAL PRODUCTS, (NO DIAGNOSTIC SUBSTANCES) · SMALL CAP

Scilex Holding Co. SCLX

6 fiscal years on record · USD · FY2025 reported · SEC filings only
$30.3M
▼ 46.5% YoY
$-374.1M
$3.7M
▼ 81.0% YoY
In brief

What this company does

We have adopted a cryptocurrency treasury strategy in which we intend to invest in bitcoin, Ethereum and other blockchain-linked cryptocurrencies. We launched our first commercial product, ZTlidoÒ (lidocaine topical system) 1.8% in October 2018. ZTlido is commercially manufactured for us by Oishi Koseido Co., Ltd. (“Oishi”) in Japan. We launched our second commercial product, ELYXYBÒ in April 2023. We launched our third commercial product, GLOPERBA, in June 2024.

Written from the business description in Scilex Holding Company's annual report to the U.S. Securities and Exchange Commission, filed 10 April 2026. Every sentence was checked against that document before publication.

Growth
USD 30.3M
Revenue, FY2025 · full 6-year series below
Revenue $M Net income $M
FY2025 · Revenue 30.3 · Net income -374.1
20M40M-200M202020212022202320242025
Compound annual growth
−7.3%
+5.1%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +5.1% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−1236 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -1143.7% · Net -1236.4%
-500%-1000%202020212022202320242025
ROE

Not applicable: equity was negative in this period, so return on equity has no meaning.

Gross margin415.8%
Operating margin-1143.7%
Net margin-1236.4%
Return on assets-163.4%
EBITDAUSD -341.4M

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 3.7
8M16M-20M202020212022202320242025
Net buybacks $M Dividends $M
FY2024 · Dividends 8.7 · Net buybacks —
4M8M20232024

Total assetsUSD 365.0M
EquityUSD -207.8M
CashUSD 5.0M
Gross debtUSD 83.3M
Net debtUSD 78.3M
Current ratio0.08×

Equity was negative — liabilities exceeded assets. No ratio is shown.

The 6-year record
6 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020
Revenue $B0.00.10.00.00.00.0
Operating income $B−0.3−0.1−0.1−0.1−0.0−0.0
EBITDA $B−0.3−0.1−0.1−0.0−0.0−0.0
Income tax $B0.0−0.00.00.00.0−0.0
Net income $B−0.4−0.1−0.1−0.0−0.1−0.0
Free cash flow $B0.00.0−0.0−0.0−0.0−0.0
EPS, diluted $−36.48−8.05−1.28−0.17−0.67−0.36
Dividend / sh $······
Payout %·−12−8···
ROE %·····−253786.6
Shares out B0.010.010.100.140.130.00

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 24 reconciliationsAUDITED

Reconciled in 6 of 19 fiscal years. 67 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityBiological Products, (No Diagnostic Substances)
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categoryemerging growth company, smaller reporting company
Data on record since2020

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