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Scilex Holding cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$6.7M in Q2 2026 · −$17.8M over twelve months

Operating cash flow−$6.7M
Free cash flow−$6.7M
Cash conversion cycle-2545 days

Analysis

In Q2 2026, Scilex Holding generated −$6.7M of operating cash flow. That is $13.8M less than in Q2 2025 ($7.0M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$17.1M; the largest uses were operating cash flow ($17.1M), capital spending ($726K); besides operations, cash came from shares issued ($7.0M), other investing ($4.6M); the cash balance fell by $3.5M.

Operating cash flow was −$6.7M against net income of −$115M. The largest differences: receivables +$4.1M, payables +$3.8M, stock-based pay +$3.6M.

Its cash conversion cycle was -2545 days (receivables 102 + inventory 108 − payables 2755): suppliers fund its working capital.

Free cash flow

Scilex Holding: free cash flow by quarterScilex Holding: free cash flow by quarter$5.1MQ3 2024$2.5MQ4 2024$6.0MQ1 2025$7.0MQ2 2025$8.2MQ3 2025−$17.5MQ4 2025−$1.1MQ1 2026−$6.7MQ2 2026
Operating cash flow less capital spending.
Scilex Holding: operating cash flow against capital spendingScilex Holding: operating cash flow against capital spendingOperating cash flowCapital spending$5.1M$0Q3 2024$2.5M$0Q4 2024$6.0M$0Q1 2025$7.0M$0Q2 2025$8.2M$0Q3 2025−$17.5M$0Q4 2025−$1.1M$0Q1 2026−$6.7M$0Q2 2026
Latest (Q2 2026): Operating cash flow −$6.7M, Capital spending $0.

Capital allocation, year by year

Scilex Holding: where the cash came from (up) and went (down), by fiscal yearScilex Holding: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingDividendsFY2021: Operating cash flow −$28.7MFY2021: Net borrowing $47.7M$47.7MFY2021FY2022: Operating cash flow −$21.3MFY2022: Net borrowing $9.9MFY2022: Shares issued $96KFY2022: Capital spending −$7K$10.0MFY2022FY2023: Operating cash flow −$20.7MFY2023: Net borrowing −$5.0MFY2023: Shares issued $36.6MFY2023: Capital spending −$30KFY2023: Dividends −$8.7M$36.6MFY2023FY2024: Operating cash flow $19.3MFY2024: Net borrowing −$39.2MFY2024: Shares issued $9.1MFY2024: Dividends −$8.7M$28.5MFY2024FY2025: Operating cash flow $3.8MFY2025: Shares issued $7.0MFY2025: Capital spending −$133K$10.8MFY2025
Over these 5 years operating cash flow totalled −$47.5M; the largest uses were operating cash flow ($70.6M) and net borrowing ($44.2M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$566K
Debt$80.8M
Net debt$80.2M
Cash runway0 months

Scilex Holding is burning cash: its operations consume cash, a free cash flow of −$17.8M a year at the current rate against $566K of cash and investments: a runway of about 0 months before any new financing.

Where the cash came from and went

Scilex Holding: sources (+) and uses (−) of cash, Q2 2026Scilex Holding: sources (+) and uses (−) of cash, Q2 2026Other investing$8.5MOperating cash flow−$6.7MOther financing−$4.5MCash drawn (+) / kept (−)$2.8MExchange rates−$16K
Scilex Holding: sources (+) and uses (−) of cash, TTM to Q2 2026Scilex Holding: sources (+) and uses (−) of cash, 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 profit to cash

Scilex Holding: net income to operating cash flow, Q2 2026Scilex Holding: net income to operating cash flow, Q2 2026Net income−$115MDepreciation & amortization$2.8MStock-based pay$3.6MReceivables$4.1MInventory$360KPayables$3.8MOperating cash flow−$6.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 20261021082755-2545
Q1 2026135941901-1671
Q4 20252611032703-2339
Q3 2025125501748-1573
Q2 2025126771619-1416
Q1 20253331773573-3062
Q4 202417947942-715
Q3 2024222671040-751

Every quarter

QuarterOperating cash flowNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$6.7M——$2.8M−$6.7M
Q1 2026−$1.1M−$6.3M$7.0M$1.6M−$1.1M
Q4 2025−$17.5M—$6K−$4.1M−$17.5M
Q3 2025$8.2M$8.9M—$3.2M$8.2M
Q2 2025$7.0M−$8.9M$17K$1.7M$7.0M
Q1 2025$6.0M—$7.0M−$2.5M$6.0M
Q4 2024$2.5M−$27.5M$1.2M$4.8M$2.5M
Q3 2024$5.1M−$1.7M$532K$1.6M$5.1M

Scilex Holding: income statement and cash flow

Scilex Holding, Q2 2026: revenue $7.6M (-23% year over year), operating margin -385.0%. The chart follows the revenue to costs, profit and cash.

Scilex Holding: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.