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Side-by-side financial comparison of Alpha Cognition Inc. (ACOG) and Scilex Holding Co (SCLX). Click either name above to swap in a different company.
Scilex Holding Co is the larger business by last-quarter revenue ($4.8M vs $2.8M, roughly 1.7× Alpha Cognition Inc.). Alpha Cognition Inc. runs the higher net margin — -245.5% vs -961.9%, a 716.4% gap on every dollar of revenue.
Scilex Holding Co is a commercial-stage biopharmaceutical firm focused on developing and commercializing innovative non-opioid pain management therapies for acute and chronic pain segments. It primarily serves the US market, offering prescription and over-the-counter pain relief solutions for patients and healthcare providers.
ACOG vs SCLX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.8M | $4.8M |
| Net Profit | $-6.9M | $-46.1M |
| Gross Margin | — | 45.5% |
| Operating Margin | -283.7% | -2317.8% |
| Net Margin | -245.5% | -961.9% |
| Revenue YoY | — | -67.8% |
| Net Profit YoY | — | -613.7% |
| EPS (diluted) | $-0.10 | $-4.63 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.8M | $4.8M | ||
| Q3 25 | $2.8M | $10.6M | ||
| Q2 25 | $1.7M | $9.9M | ||
| Q1 25 | $2.9M | $5.0M | ||
| Q4 24 | — | $14.9M | ||
| Q3 24 | — | $14.4M | ||
| Q2 24 | — | $16.4M | ||
| Q1 24 | — | $10.9M |
| Q4 25 | $-6.9M | $-46.1M | ||
| Q3 25 | $-1.3M | $-257.8M | ||
| Q2 25 | $-10.5M | $-44.0M | ||
| Q1 25 | $-2.0M | $-26.1M | ||
| Q4 24 | — | $-6.5M | ||
| Q3 24 | — | $-4.4M | ||
| Q2 24 | — | $-37.6M | ||
| Q1 24 | — | $-24.4M |
| Q4 25 | — | 45.5% | ||
| Q3 25 | — | 68.5% | ||
| Q2 25 | 96.7% | 66.9% | ||
| Q1 25 | 99.6% | 72.3% | ||
| Q4 24 | — | 68.5% | ||
| Q3 24 | — | 73.9% | ||
| Q2 24 | — | 73.2% | ||
| Q1 24 | — | 64.7% |
| Q4 25 | -283.7% | -2317.8% | ||
| Q3 25 | -187.0% | -1766.2% | ||
| Q2 25 | -346.1% | -207.2% | ||
| Q1 25 | -125.9% | -557.5% | ||
| Q4 24 | — | -190.5% | ||
| Q3 24 | — | -138.0% | ||
| Q2 24 | — | -95.4% | ||
| Q1 24 | — | -179.0% |
| Q4 25 | -245.5% | -961.9% | ||
| Q3 25 | -46.4% | -2441.5% | ||
| Q2 25 | -632.7% | -445.1% | ||
| Q1 25 | -68.5% | -521.2% | ||
| Q4 24 | — | -43.4% | ||
| Q3 24 | — | -30.4% | ||
| Q2 24 | — | -229.6% | ||
| Q1 24 | — | -224.0% |
| Q4 25 | $-0.10 | $-4.63 | ||
| Q3 25 | $-0.30 | $-22.17 | ||
| Q2 25 | $-0.65 | $-7.42 | ||
| Q1 25 | $-0.13 | $-2.26 | ||
| Q4 24 | — | $8.53 | ||
| Q3 24 | — | $-0.58 | ||
| Q2 24 | — | $-7.67 | ||
| Q1 24 | — | $-8.33 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $66.0M | $5.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $62.5M | $-207.8M |
| Total Assets | $79.7M | $365.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.0M | $5.0M | ||
| Q3 25 | $35.4M | $878.0K | ||
| Q2 25 | $39.4M | $4.1M | ||
| Q1 25 | $45.5M | $5.8M | ||
| Q4 24 | — | $3.3M | ||
| Q3 24 | — | $77.0K | ||
| Q2 24 | — | $6.9M | ||
| Q1 24 | — | $1.8M |
| Q4 25 | $62.5M | $-207.8M | ||
| Q3 25 | $33.9M | $-176.9M | ||
| Q2 25 | $31.9M | $-249.0M | ||
| Q1 25 | $40.8M | $-211.5M | ||
| Q4 24 | — | $-192.6M | ||
| Q3 24 | — | $-211.3M | ||
| Q2 24 | — | $-214.7M | ||
| Q1 24 | — | $-189.8M |
| Q4 25 | $79.7M | $365.0M | ||
| Q3 25 | $46.3M | $275.9M | ||
| Q2 25 | $45.1M | $83.8M | ||
| Q1 25 | $48.6M | $79.0M | ||
| Q4 24 | — | $93.0M | ||
| Q3 24 | — | $100.4M | ||
| Q2 24 | — | $104.5M | ||
| Q1 24 | — | $91.2M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-6.9M | $-17.5M |
| Free Cash FlowOCF − Capex | $-7.1M | — |
| FCF MarginFCF / Revenue | -252.6% | — |
| Capex IntensityCapex / Revenue | 5.3% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-20.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.9M | $-17.5M | ||
| Q3 25 | $-5.3M | $8.2M | ||
| Q2 25 | $-6.1M | $7.0M | ||
| Q1 25 | $-2.0M | $6.0M | ||
| Q4 24 | — | $2.5M | ||
| Q3 24 | — | $5.1M | ||
| Q2 24 | — | $2.3M | ||
| Q1 24 | — | $9.4M |
| Q4 25 | $-7.1M | — | ||
| Q3 25 | $-5.4M | — | ||
| Q2 25 | $-6.1M | — | ||
| Q1 25 | $-2.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -252.6% | — | ||
| Q3 25 | -188.8% | — | ||
| Q2 25 | -370.9% | — | ||
| Q1 25 | -72.0% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 5.3% | — | ||
| Q3 25 | 2.6% | — | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
