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Scilex Holding (SCLX) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 14, 2026 · Scilex Holding (SCLX) Q2 2026 earnings results →

Q2 2026 Revenue down 23% year over year to $7.6M · operating margin -385.0%

Scilex Holding made $7.6M in Q2 2026 (-23% Y/Y). Operating margin -385.0%, net loss $115M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 14, 2026.

Revenue$7.6M
Year over year-23%
Operating margin-385.0%
Net earnings−$115M
Operating cash flow−$6.7M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $7.6M in Q2 2026, down 23% year over year and down 11% from the previous quarter.

Operating costs exceeded revenue by $29.4M, an operating margin of -385.0%. Total costs grew 22% against a revenue fall of 23%. The fastest-growing cost line was Other operating costs (+90%). The quarter ended with a net loss of $115.0M, wider than the previous quarter's $45.6M loss. Net interest and other expense of $85.6M was the main reason.

Operating cash flow was −$6.7M. Non-cash charges added back $2.8M of depreciation and amortization and $3.6M of share-based compensation. Working capital and other items added $101.8M.

Quarterly history

Scilex Holding revenue by quarterScilex Holding revenue by quarter$14.9MQ4 2024$5.0MQ1 2025$9.9MQ2 2025$10.6MQ3 2025$4.8MQ4 2025$8.6MQ1 2026$7.6MQ2 2026
Scilex Holding net earnings by quarterScilex Holding net earnings by quarter−$6.5MQ4 2024−$26.1MQ1 2025−$44.0MQ2 2025−$258MQ3 2025−$46.1MQ4 2025−$45.6MQ1 2026−$115MQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 14, 2026$7.6M-23%-385.0%−$115M−$6.7M
Q1 202610-QMay 20, 2026$8.6M+72%-373.5%−$45.6M−$1.1M
Q4 202510-KApr 10, 2026$4.8M-68%n/m−$46.1M−$17.5M
Q3 202510-QNov 14, 2025$10.6M-27%n/m−$258M$8.2M
Q2 202510-QAug 13, 2025$9.9M-40%-207.2%−$44.0M$7.0M
Q1 202510-QMay 14, 2025$5.0M-54%-557.5%−$26.1M$6.0M
Q4 202410-KMar 31, 2025$14.9M+11%-190.5%−$6.5M$2.5M

Charts

Scilex Holding: revenue growth, year over year and quarter over quarterScilex Holding: revenue growth, year over year and quarter over quarterY/YQ/Q+11%Q4 2024-54%-66%Q1 2025-40%+98%Q2 2025-27%+7%Q3 2025-68%-55%Q4 2025+72%+80%Q1 2026-23%-11%Q2 2026
Latest (Q2 2026): Y/Y -23%, Q/Q -11%.
Scilex Holding: where the cash came from (+) and went (−), TTM to Q2 2026Scilex Holding: where the cash came from (+) and went (−), TTM to Q2 2026Operating cash flow−$17.1MShares issued$7.0MOther investing$4.6MCash drawn (+) / kept (−)$3.5MNet borrowing (+) / repaid (−)$2.6MOther financing$1.3MNot reconciled−$1.3MCapital spending−$726K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Scilex Holding: profit against cash, quarter by quarterScilex Holding: profit against cash, quarter by quarterNet incomeOperating cash flow−$4.4M$5.1MQ3 2024−$6.5M$2.5MQ4 2024−$26.1M$6.0MQ1 2025−$44.0M$7.0MQ2 2025−$258M$8.2MQ3 2025−$46.1M−$17.5MQ4 2025−$45.6M−$1.1MQ1 2026−$115M−$6.7MQ2 2026
Latest (Q2 2026): Net income −$115M, Operating cash flow −$6.7M.
Scilex Holding: diluted shares by fiscal yearScilex Holding: diluted shares by fiscal year0MFY2020133MFY2021134MFY2022130MFY20230MFY20240MFY2025
-91.7% since FY2020: buybacks shrank the count.
Scilex Holding in its industry: growth against margin (76 companies, SIC 2836)Scilex Holding in its industry: growth against margin (76 companies, SIC 2836)revenue growth, year over year →↑ operating marginmedian +9%median -100%AMGNGILDBIIBMRNANBIXEXELHALOMGTXTECHVIRRGENTARSBCRXALECADMAKRYSIOVATWSTIPSCIMCRVISKVCELADPTNVAXKYMRGLUEIBRXAUTLAGENDNAPLXRXRXFENCCSBRCHRSIVVDCRSPEDITDTILVXRTSTRORGNXCCCCBSEMACOGTSHASRZNVYGRFDMTLENZALGSXFORELUTFATEOCGNSCTXCRBUCGONDBVTINBXMGXLCTXTCRXDYAIPRMEATRAVitro Biopharma, Inc.HUMARLAYPLURBEAMPROKCRDFAIMVIVSSCLX (-23%, -100%)
Biological Products, (No Diagnostic Substances); dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Buys from

About Scilex Holding

We are an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain. We target indications with high unmet needs and large market opportunities with non-opioid therapies for the treatment of patients with acute and chronic pain and are dedicated to advancing and improving patient outcomes. Our commercial products are: (i) ZTlido Ò (lidocaine topical system) 1.8%, a prescription lidocaine topical product approved by the U.S.

In its own words, from its 10-K, filed Apr 10, 2026.

Scilex Holding against its Biological Products, (No Diagnostic Substances) peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -23% against the peers' median +11%. Operating margin: -385.0% against the peers' median 35.8%.

CompanyQuarterRevenueY/YOp. margin
SCLX Scilex HoldingQ2 2026$7.6M-23%-385.0%
AMGN AmgenQ3 2026$10.4B+8%35.8%
GILD Gilead SciencesQ3 2026$8.3B+7%41.7%
BIIB BiogenQ3 2026$2.8B+11%-0.3%
MRNA ModernaQ3 2026$1.3B+29%9.9%
NBIX Neurocrine BiosciencesQ3 2026$1.1B+41%29.5%
EXEL ExelixisQ3 2026$659M+10%40.8%
HALO Halozyme TherapeuticsQ3 2026$493M+39%59.8%
MGTX MeiraGTx HoldingsQ2 2026$321M87×76.0%

Source: Scilex Holding 10-Q on SEC EDGAR · CIK 1820190 · Biological Products, (No Diagnostic Substances)

13F: who owns SCLX and who is buying

Largest holders of SCLX (13F)Largest holders of SCLX (13F)Vanguard Group$3.6MVanguard Capital Management LLC$2.4MBlackRock$853KVanguard Fiduciary Trust$357KJacobs Levy Equity Management$321KState Street$276KUBS Group AG$260KRenaissance Technologies LLC$258KDonald L. Hagan, LLC$234KCitadel Advisors LLC$214K
Funds' net buying of SCLX by quarter (13F)Funds' net buying of SCLX by quarter (13F)$02024-09$02024-12$119K2025-03$3.6M2025-06$2.1M2025-09$4.9M2025-12−$1.7M2026-03−$1.3M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on SCLX

History

Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results

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