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Side-by-side financial comparison of Borealis Foods Inc. (BRLS) and Scilex Holding Co (SCLX). Click either name above to swap in a different company.
Borealis Foods Inc. is the larger business by last-quarter revenue ($7.1M vs $4.8M, roughly 1.5× Scilex Holding Co). Borealis Foods Inc. runs the higher net margin — -53.2% vs -961.9%, a 908.7% gap on every dollar of revenue. On growth, Borealis Foods Inc. posted the faster year-over-year revenue change (-12.0% vs -67.8%). Over the past eight quarters, Borealis Foods Inc.'s revenue compounded faster (-2.4% CAGR vs -33.6%).
Borealis Foods Inc is a food technology enterprise specializing in developing and producing high-quality plant-based protein products including plant-based meat alternatives. It mainly serves retail and food service customers across North America and Europe, focusing on delivering affordable, nutritious sustainable food options matching the taste of conventional animal-derived meat.
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.
BRLS vs SCLX — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.1M | $4.8M |
| Net Profit | $-3.8M | $-46.1M |
| Gross Margin | 14.6% | 45.5% |
| Operating Margin | -27.1% | -2317.8% |
| Net Margin | -53.2% | -961.9% |
| Revenue YoY | -12.0% | -67.8% |
| Net Profit YoY | 21.8% | -613.7% |
| EPS (diluted) | $-0.18 | $-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 | — | $4.8M | ||
| Q3 25 | $7.1M | $10.6M | ||
| Q2 25 | $7.2M | $9.9M | ||
| Q1 25 | $6.8M | $5.0M | ||
| Q4 24 | $6.8M | $14.9M | ||
| Q3 24 | $8.1M | $14.4M | ||
| Q2 24 | $5.5M | $16.4M | ||
| Q1 24 | $7.9M | $10.9M |
| Q4 25 | — | $-46.1M | ||
| Q3 25 | $-3.8M | $-257.8M | ||
| Q2 25 | $-4.6M | $-44.0M | ||
| Q1 25 | $-4.2M | $-26.1M | ||
| Q4 24 | $-5.8M | $-6.5M | ||
| Q3 24 | $-4.8M | $-4.4M | ||
| Q2 24 | $-6.3M | $-37.6M | ||
| Q1 24 | $-8.4M | $-24.4M |
| Q4 25 | — | 45.5% | ||
| Q3 25 | 14.6% | 68.5% | ||
| Q2 25 | 7.2% | 66.9% | ||
| Q1 25 | 13.1% | 72.3% | ||
| Q4 24 | 3.7% | 68.5% | ||
| Q3 24 | 15.8% | 73.9% | ||
| Q2 24 | 7.7% | 73.2% | ||
| Q1 24 | 3.1% | 64.7% |
| Q4 25 | — | -2317.8% | ||
| Q3 25 | -27.1% | -1766.2% | ||
| Q2 25 | -46.7% | -207.2% | ||
| Q1 25 | -42.6% | -557.5% | ||
| Q4 24 | -68.4% | -190.5% | ||
| Q3 24 | -44.8% | -138.0% | ||
| Q2 24 | -94.8% | -95.4% | ||
| Q1 24 | -88.3% | -179.0% |
| Q4 25 | — | -961.9% | ||
| Q3 25 | -53.2% | -2441.5% | ||
| Q2 25 | -64.0% | -445.1% | ||
| Q1 25 | -61.2% | -521.2% | ||
| Q4 24 | -85.3% | -43.4% | ||
| Q3 24 | -59.8% | -30.4% | ||
| Q2 24 | -115.0% | -229.6% | ||
| Q1 24 | -106.8% | -224.0% |
| Q4 25 | — | $-4.63 | ||
| Q3 25 | $-0.18 | $-22.17 | ||
| Q2 25 | $0.21 | $-7.42 | ||
| Q1 25 | $-0.20 | $-2.26 | ||
| Q4 24 | $-0.82 | $8.53 | ||
| Q3 24 | $-0.23 | $-0.58 | ||
| Q2 24 | $0.29 | $-7.67 | ||
| Q1 24 | $-0.49 | $-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 | — | $5.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-12.9M | $-207.8M |
| Total Assets | $56.3M | $365.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $5.0M | ||
| Q3 25 | — | $878.0K | ||
| Q2 25 | — | $4.1M | ||
| Q1 25 | — | $5.8M | ||
| Q4 24 | — | $3.3M | ||
| Q3 24 | — | $77.0K | ||
| Q2 24 | — | $6.9M | ||
| Q1 24 | — | $1.8M |
| Q4 25 | — | $-207.8M | ||
| Q3 25 | $-12.9M | $-176.9M | ||
| Q2 25 | $-9.2M | $-249.0M | ||
| Q1 25 | $-4.8M | $-211.5M | ||
| Q4 24 | $-695.9K | $-192.6M | ||
| Q3 24 | $5.1M | $-211.3M | ||
| Q2 24 | $9.9M | $-214.7M | ||
| Q1 24 | $16.2M | $-189.8M |
| Q4 25 | — | $365.0M | ||
| Q3 25 | $56.3M | $275.9M | ||
| Q2 25 | $57.3M | $83.8M | ||
| Q1 25 | $58.4M | $79.0M | ||
| Q4 24 | $60.0M | $93.0M | ||
| Q3 24 | $61.9M | $100.4M | ||
| Q2 24 | $63.6M | $104.5M | ||
| Q1 24 | $70.3M | $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 | $-190.6K | $-17.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-17.5M | ||
| Q3 25 | $-190.6K | $8.2M | ||
| Q2 25 | $-2.2M | $7.0M | ||
| Q1 25 | $-1.4M | $6.0M | ||
| Q4 24 | $-819.4K | $2.5M | ||
| Q3 24 | $-3.3M | $5.1M | ||
| Q2 24 | $-4.2M | $2.3M | ||
| Q1 24 | $-6.8M | $9.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $-1.4M | — | ||
| Q4 24 | $-951.6K | — | ||
| Q3 24 | $-3.7M | — | ||
| Q2 24 | $-4.7M | — | ||
| Q1 24 | $-7.3M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -20.3% | — | ||
| Q4 24 | -14.1% | — | ||
| Q3 24 | -46.1% | — | ||
| Q2 24 | -86.7% | — | ||
| Q1 24 | -92.7% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 2.0% | — | ||
| Q3 24 | 5.6% | 0.0% | ||
| Q2 24 | 9.4% | — | ||
| Q1 24 | 7.0% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
