Scorpius Holdings (SCPX) AI Stock Analysis

• Market Cap: $73.37K
• Dividend Yield: N/A
• Average Volume (3M): 5.55K
• Price to Earnings (P/E): ―
• Beta (1Y): -8.85
• Revenue Growth: -69.81%
• EPS Growth: 88.78%
• Country: US
• Employees: 90
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): N/A
• Shares Outstanding: 61,142,710
• 10 Day Avg. Volume: 3,056
• 30 Day Avg. Volume: 5,554
• PEG Ratio: <0.01
• Price to Book (P/B): 2.64
• Price to Sales (P/S): 2.66
• P/FCF Ratio: -0.62
• Enterprise Value/Market Cap: 271.90M
• Enterprise Value/Revenue: 87.68
• Enterprise Value/Gross Profit: 1.44K
• Enterprise Value/Ebitda: -3.45
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 39 Underperform
• Price Target: <$0.01 ▼(-55.00% Downside)

The score is driven primarily by weak financial performance (declining revenue, ongoing losses, negative cash flow, and high leverage). Technicals also point to a bearish trend with negative MACD and the stock trading below key moving averages. Recent negative corporate events around defaults, potential asset sale, and additional short-term debt further pressure the outlook, while valuation is limited by ongoing losses and no dividend support.

Positive Factors

Diversified business model

Scorpius operates across technology, real estate and renewable energy and earns fees, dividends and capital gains. This multi‑stream model reduces reliance on a single market cycle and gives management flexibility to reallocate capital to higher-growth portfolio areas over the next 2–6 months and beyond.

Positive stockholders' equity

Despite pressures, the balance sheet still shows positive equity which provides a foundational cushion for creditors and a basis for restructuring or capital raises. That residual equity supports continuity of operations and preserves optionality for longer-term recovery or strategic transactions.

Management alignment via insider financing

A CEO‑controlled entity extending a convertible note signals insider willingness to support liquidity and align incentives. Structural insider funding can stabilize near‑term financing gaps and indicate management confidence in the business plan, strengthening governance alignment over the medium term.

Negative Factors

Very high leverage

A 4.53 debt‑to‑equity ratio indicates substantial leverage that elevates refinancing, interest and covenant risk. High structural leverage limits strategic flexibility, increases default probability if cash flow remains weak, and magnifies losses to equity holders during prolonged revenue weakness.

Persistent negative cash flow

Ongoing negative operating and free cash flow means the business cannot self‑fund growth or debt service and must rely on external financing. Structurally, this raises dilution or creditor control risks, constrains investment in portfolio companies, and undermines sustainable margin recovery prospects.

Defaults and asset sale risk

Public disposition notice and defaults on secured notes threaten sale of pledged assets, which would permanently remove income‑generating holdings and advisory/management fee base. Asset loss would erode structural revenue capacity and impair the firm’s ability to rebuild capital and maintain strategic investments.

Scorpius Holdings Business Overview & Revenue Model

Company Description

Scorpius Holdings Inc., through its subsidiary Scorpius BioManufacturing, operates as an integrated contract development and manufacturing organization. The company provides analytical testing, downstream process development, formulation optimization and development, and clinical biomanufacturing services to pharmaceutical and biotech companies. It is also involved in the provision of pre-clinical and product development; chemistry, manufacturing, and control analytical support; and bioassays. The company was formerly known as NightHawk Biosciences, Inc. and changed its name to Scorpius Holdings, Inc. in February 2024. Scorpius Holdings, Inc. was incorporated in 2008 and is based in Morrisville, North Carolina.

How the Company Makes Money

Scorpius Holdings generates revenue through multiple streams, primarily from its strategic investments in various sectors. The company earns income by acquiring stakes in high-potential startups and established businesses, benefiting from capital appreciation and dividends. Additionally, SCPX provides asset management services, charging fees for managing investments on behalf of clients. Revenue is further supplemented through advisory services, where the company leverages its expertise to assist other businesses in growth strategies and operational improvements. Significant partnerships with industry leaders and investment funds enhance its market position and provide access to lucrative opportunities, contributing positively to its earnings.

Scorpius Holdings Financial Statement Overview

Summary

Scorpius Holdings is facing significant financial challenges, including declining revenue, persistent losses, and high leverage. The company has negative net income and cash flow issues, with a high debt-to-equity ratio indicating reliance on debt financing.

Income Statement

Scorpius Holdings has faced declining revenue over the past year, with a notable decrease of 10.75% from 2023 to 2024. The company has consistently reported negative net income, resulting in a negative net profit margin. Additionally, the gross profit margin has been volatile, indicating challenges in cost management. The EBIT and EBITDA margins are also negative, reflecting ongoing operational inefficiencies.

Balance Sheet

The company's balance sheet shows high leverage, with a debt-to-equity ratio of 4.53 in 2024, indicating significant reliance on debt financing. The equity ratio has decreased over the years, suggesting a shrinking equity base. However, the company maintains a positive stockholders' equity, which provides some financial stability.

Cash Flow

Scorpius Holdings has experienced negative free cash flow, although there was a slight improvement in 2024 compared to 2023. The operating cash flow remains negative, and the free cash flow to net income ratio is unfavorable, indicating challenges in generating cash from operations. The company has relied on financing activities to support its cash flow needs.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	227.54B	6.24M	6.99M	5.98M	2.11M	2.95M
Gross Profit	13.88B	3.05M	-2.22M	-420.02K	1.42M	2.95M
EBITDA	-5.78T	-26.22M	-33.99M	-39.29M	-34.86M	-24.59M
Net Income	-4.08T	-32.81M	-45.22M	-43.43M	-35.07M	-26.05M
Balance Sheet
Total Assets	21.57T	39.18M	51.04M	104.40M	120.96M	124.19M
Cash, Cash Equivalents and Short-Term Investments	520.52B	2.38M	2.39M	39.03M	96.38M	111.77M
Total Debt	20.47T	28.55M	14.04M	9.30M	1.93M	1.85M
Total Liabilities	29.49T	37.50M	22.74M	31.96M	8.93M	8.70M
Stockholders Equity	-2.49T	6.30M	31.40M	73.92M	113.11M	116.24M
Cash Flow
Free Cash Flow	-6.83T	-26.88M	-33.52M	-25.82M	-40.03M	-22.36M
Operating Cash Flow	-6.78T	-26.01M	-31.53M	-5.70M	-38.13M	-22.02M
Investing Cash Flow	77.44B	1.21M	32.24M	10.99M	9.77M	-95.42M
Financing Cash Flow	6.19T	25.64M	-8.95M	-4.91M	25.49M	119.33M

Scorpius Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SCNI	43 Neutral	$775.54K	-0.07	―	―	178.82%	-4121.10%
SCPX	39 Underperform	$73.37K	>-0.01	―	―	-69.81%	88.78%

Scorpius Holdings Corporate Events

Scorpius Holdings issues new short-term institutional debt

On December 16, 17 and 30, 2025, and January 8, 2026, Scorpius Holdings, Inc. issued four non-convertible promissory notes to an institutional investor with an aggregate principal of roughly $239,500, each bearing 5% annual interest, a 15% principal premium at repayment, and maturities in mid-2026 or earlier upon a defined corporate event or default. The privately placed notes, structured with customary cross-default provisions and a requirement that proceeds from any subsequent financing can be used at the holder’s discretion to redeem the outstanding balances, underscore the company’s reliance on short-term institutional debt to fund operations while tightening creditor protections and potentially elevating refinancing and liquidity pressures for existing stakeholders.

The most recent analyst rating on (SCPX) stock is a Hold with a $0.02 price target. To see the full list of analyst forecasts on Scorpius Holdings stock, see the SCPX Stock Forecast page.

Scorpius Holdings Issues Amended Convertible Promissory Note

On December 2, 2025, Scorpius Holdings, Inc. issued a second amended and restated 1% convertible promissory note for $2,250,000 to Elusys Holdings Inc., a company controlled by its CEO, Jeffrey Wolf. This note extends the maturity date from September 1, 2025, to March 1, 2026, and is part of a transaction exempt from registration under the Securities Act.

Scorpius Holdings Issues Third Promissory Note

On November 25, 2025, Scorpius Holdings issued a non-convertible promissory note of $33,000, followed by another on November 26, 2025, for $630,020, and a third on December 1, 2025, for $134,000, all to an institutional investor. These notes accrue interest at 5% per annum and include a 15% premium on maturity, redemption, or prepayment. They are subject to customary default conditions and can be redeemed using proceeds from subsequent financing. The issuance relied on an exemption from registration under the Securities Act.

Scorpius Holdings Issues $122,000 Promissory Note

On November 20, 2025, Scorpius Holdings issued a non-convertible promissory note valued at $122,000 to an institutional investor, with a 5% annual interest rate and a maturity date of May 20, 2026, or upon the occurrence of a corporate event or default. This financial move allows the investor to demand redemption of the note using proceeds from any subsequent financing, highlighting Scorpius Holdings’ strategic financial management and potential implications for its liquidity and financial obligations.

Scorpius Holdings Issues Promissory Notes for $1.36 Million

Scorpius Holdings issued four non-convertible promissory notes in October and November 2025 to an institutional investor, totaling approximately $1.36 million. Each note accrues interest at 5% per annum and includes a 15% premium payment upon maturity, redemption, or prepayment. The notes mature in 2026 or upon a corporate event or default. The issuance of these notes reflects Scorpius Holdings’ strategic financial maneuvering to secure capital while providing the holder rights to demand redemption under certain financing conditions.

Scorpius Holdings Faces Asset Sale Due to Defaults

On October 10, 2025, Scorpius Holdings, Inc. received a Notice of Public Disposition due to defaults on senior secured convertible notes and other promissory notes, totaling obligations exceeding $26 million. As a result, the collateral agent will conduct a public sale of the company’s pledged assets, including significant stakes in Scorpius Biomanufacturing, Inc. and Skunkworx Bio, Inc., on November 12, 2025, to address these financial obligations.