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Side-by-side financial comparison of Scilex Holding Co (SCLX) and Solid Power, Inc. (SLDP). Click either name above to swap in a different company.
Scilex Holding Co is the larger business by last-quarter revenue ($4.8M vs $3.6M, roughly 1.3× Solid Power, Inc.). On growth, Solid Power, Inc. posted the faster year-over-year revenue change (-18.6% vs -67.8%). Over the past eight quarters, Solid Power, Inc.'s revenue compounded faster (-21.9% CAGR vs -33.6%).
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.
Solid Energy was the largest coal mining company in New Zealand and is a state owned enterprise of the New Zealand Government.
SCLX vs SLDP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.8M | $3.6M |
| Net Profit | $-46.1M | — |
| Gross Margin | 45.5% | — |
| Operating Margin | -2317.8% | -730.1% |
| Net Margin | -961.9% | — |
| Revenue YoY | -67.8% | -18.6% |
| Net Profit YoY | -613.7% | — |
| EPS (diluted) | $-4.63 | $-0.15 |
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 | $3.6M | ||
| Q3 25 | $10.6M | $3.7M | ||
| Q2 25 | $9.9M | $6.5M | ||
| Q1 25 | $5.0M | $6.0M | ||
| Q4 24 | $14.9M | $4.5M | ||
| Q3 24 | $14.4M | $4.7M | ||
| Q2 24 | $16.4M | $5.1M | ||
| Q1 24 | $10.9M | $6.0M |
| Q4 25 | $-46.1M | — | ||
| Q3 25 | $-257.8M | $-25.9M | ||
| Q2 25 | $-44.0M | $-25.3M | ||
| Q1 25 | $-26.1M | $-15.2M | ||
| Q4 24 | $-6.5M | — | ||
| Q3 24 | $-4.4M | $-22.4M | ||
| Q2 24 | $-37.6M | $-22.3M | ||
| Q1 24 | $-24.4M | $-21.2M |
| Q4 25 | 45.5% | — | ||
| Q3 25 | 68.5% | — | ||
| Q2 25 | 66.9% | — | ||
| Q1 25 | 72.3% | — | ||
| Q4 24 | 68.5% | — | ||
| Q3 24 | 73.9% | — | ||
| Q2 24 | 73.2% | — | ||
| Q1 24 | 64.7% | — |
| Q4 25 | -2317.8% | -730.1% | ||
| Q3 25 | -1766.2% | -654.4% | ||
| Q2 25 | -207.2% | -398.9% | ||
| Q1 25 | -557.5% | -399.4% | ||
| Q4 24 | -190.5% | -561.1% | ||
| Q3 24 | -138.0% | -593.2% | ||
| Q2 24 | -95.4% | -530.8% | ||
| Q1 24 | -179.0% | -433.1% |
| Q4 25 | -961.9% | — | ||
| Q3 25 | -2441.5% | -693.1% | ||
| Q2 25 | -445.1% | -390.7% | ||
| Q1 25 | -521.2% | -251.8% | ||
| Q4 24 | -43.4% | — | ||
| Q3 24 | -30.4% | -482.0% | ||
| Q2 24 | -229.6% | -438.9% | ||
| Q1 24 | -224.0% | -356.2% |
| Q4 25 | $-4.63 | $-0.15 | ||
| Q3 25 | $-22.17 | $-0.14 | ||
| Q2 25 | $-7.42 | $-0.14 | ||
| Q1 25 | $-2.26 | $-0.08 | ||
| Q4 24 | $8.53 | $-0.16 | ||
| Q3 24 | $-0.58 | $-0.13 | ||
| Q2 24 | $-7.67 | $-0.13 | ||
| Q1 24 | $-8.33 | $-0.12 |
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 | $250.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-207.8M | $415.7M |
| Total Assets | $365.0M | $455.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.0M | $250.8M | ||
| Q3 25 | $878.0K | $251.2M | ||
| Q2 25 | $4.1M | $230.9M | ||
| Q1 25 | $5.8M | $240.9M | ||
| Q4 24 | $3.3M | $118.2M | ||
| Q3 24 | $77.0K | $132.0M | ||
| Q2 24 | $6.9M | $140.5M | ||
| Q1 24 | $1.8M | $146.6M |
| Q4 25 | $-207.8M | $415.7M | ||
| Q3 25 | $-176.9M | $381.2M | ||
| Q2 25 | $-249.0M | $370.6M | ||
| Q1 25 | $-211.5M | $397.1M | ||
| Q4 24 | $-192.6M | $410.3M | ||
| Q3 24 | $-211.3M | $439.4M | ||
| Q2 24 | $-214.7M | $456.8M | ||
| Q1 24 | $-189.8M | $479.4M |
| Q4 25 | $365.0M | $455.1M | ||
| Q3 25 | $275.9M | $416.1M | ||
| Q2 25 | $83.8M | $398.0M | ||
| Q1 25 | $79.0M | $419.4M | ||
| Q4 24 | $93.0M | $448.3M | ||
| Q3 24 | $100.4M | $470.9M | ||
| Q2 24 | $104.5M | $492.6M | ||
| Q1 24 | $91.2M | $516.2M |
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 | $-17.5M | $-18.4M |
| Free Cash FlowOCF − Capex | — | $-23.0M |
| FCF MarginFCF / Revenue | — | -633.0% |
| Capex IntensityCapex / Revenue | — | 126.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-83.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-17.5M | $-18.4M | ||
| Q3 25 | $8.2M | $-14.3M | ||
| Q2 25 | $7.0M | $-14.4M | ||
| Q1 25 | $6.0M | $-26.3M | ||
| Q4 24 | $2.5M | $-13.9M | ||
| Q3 24 | $5.1M | $-9.9M | ||
| Q2 24 | $2.3M | $-11.1M | ||
| Q1 24 | $9.4M | $-29.1M |
| Q4 25 | — | $-23.0M | ||
| Q3 25 | — | $-14.8M | ||
| Q2 25 | — | $-17.1M | ||
| Q1 25 | — | $-28.6M | ||
| Q4 24 | — | $-18.6M | ||
| Q3 24 | — | $-12.6M | ||
| Q2 24 | — | $-15.5M | ||
| Q1 24 | — | $-33.1M |
| Q4 25 | — | -633.0% | ||
| Q3 25 | — | -397.6% | ||
| Q2 25 | — | -264.2% | ||
| Q1 25 | — | -476.1% | ||
| Q4 24 | — | -416.5% | ||
| Q3 24 | — | -271.5% | ||
| Q2 24 | — | -305.8% | ||
| Q1 24 | — | -556.3% |
| Q4 25 | — | 126.5% | ||
| Q3 25 | — | 15.3% | ||
| Q2 25 | — | 41.5% | ||
| Q1 25 | — | 39.1% | ||
| Q4 24 | — | 105.5% | ||
| Q3 24 | 0.0% | 59.7% | ||
| Q2 24 | — | 86.8% | ||
| Q1 24 | — | 68.1% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
