Scorpius Holdings (SCPX) AI Stock Analysis

• Market Cap: $36.69K
• Dividend Yield: N/A
• Average Volume (3M): 5.55K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.58
• 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: 299.38
• Enterprise Value/Revenue: 3.73
• Enterprise Value/Gross Profit: -7.21
• Enterprise Value/Ebitda: -0.33
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 37 Underperform
• Price Target: $0.02 ▼(-20.00% Downside)

Scorpius Holdings is in a precarious financial position, with declining revenue, high leverage, and negative earnings. The lack of technical and valuation strength, combined with the impending asset sale due to financial defaults, results in a very low overall stock score.

Positive Factors

Diversified Investment Portfolio

A diversified investment portfolio across high-growth sectors like technology and renewable energy can provide stability and growth opportunities, mitigating risks associated with sector-specific downturns.

Strategic Partnerships

Strategic partnerships with industry leaders can enhance Scorpius Holdings' market position and provide access to lucrative opportunities, supporting long-term revenue growth and competitive advantage.

Management Expertise

The appointment of experienced leaders like Kit Foo Chye can strengthen management quality, providing strategic direction and financial expertise to navigate complex financial landscapes and drive sustainable growth.

Negative Factors

High Leverage

High leverage can strain financial flexibility and increase risk, especially in downturns, potentially impacting Scorpius Holdings' ability to invest in growth and meet financial obligations.

Declining Revenue

Declining revenue indicates challenges in maintaining market share and competitiveness, which can hinder long-term growth prospects and investor confidence in Scorpius Holdings.

Asset Sale Due to Defaults

The impending asset sale due to financial defaults poses a significant risk to Scorpius Holdings' operational stability and asset base, potentially affecting its ability to generate future revenue.

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 with declining revenue, persistent losses, and high leverage. The negative net income and volatile gross profit margin indicate operational inefficiencies. The balance sheet shows high reliance on debt, and cash flow management is weak with negative free cash flow.

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	2.94M	6.24M	6.99M	5.98M	2.11M	2.95M
Gross Profit	-1.52M	3.05M	-2.22M	-420.02K	1.42M	2.95M
EBITDA	-33.02M	-26.22M	-33.99M	-39.29M	-34.86M	-24.59M
Net Income	-39.10M	-32.81M	-45.22M	-43.43M	-35.07M	-26.05M
Balance Sheet
Total Assets	23.59M	39.18M	51.04M	104.40M	120.96M	124.19M
Cash, Cash Equivalents and Short-Term Investments	249.16K	2.38M	2.39M	39.03M	96.38M	111.77M
Total Debt	20.75M	28.55M	14.04M	9.30M	1.93M	1.85M
Total Liabilities	30.15M	37.50M	22.74M	31.96M	8.93M	8.70M
Stockholders Equity	-1.37M	6.30M	31.40M	73.92M	113.11M	116.24M
Cash Flow
Free Cash Flow	-25.33M	-26.88M	-33.52M	-25.82M	-40.03M	-22.36M
Operating Cash Flow	-24.69M	-26.01M	-31.53M	-5.70M	-38.13M	-22.02M
Investing Cash Flow	-1.55M	1.21M	32.24M	10.99M	9.77M	-95.42M
Financing Cash Flow	24.88M	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
SCNI	52 Neutral	$963.88K	0.23	―	―	178.82%	-4121.10%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SCPX	37 Underperform	$36.69K	―	―	―	-69.81%	88.78%

Scorpius Holdings Corporate Events

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.

Scorpius Holdings Secures Additional $5M Loan Agreement

On October 1, 2025, Scorpius Holdings, Inc. issued a non-convertible promissory note for $500,083 to an institutional investor, with a 5% annual interest rate, maturing by October 31, 2025, or upon certain events. The company also entered into an Amendment Agreement on October 6, 2025, allowing for additional loans up to $5 million, with notes accruing 5% interest and maturing within six months or upon specific events. These financial maneuvers are aimed at securing the company’s obligations under existing and future promissory notes, potentially impacting its financial strategy and stakeholder relations.

Scorpius Holdings Appoints Kit Foo Chye as Director

On September 22, 2025, Scorpius Holdings, Inc. appointed Kit Foo Chye as a director. Mr. Chye, with extensive experience in corporate finance, currently serves as the Head of Corporate Finance at JS Group and has held significant roles in various companies since 2005. His appointment does not involve any committee memberships or material interests in transactions with the company.

Scorpius Holdings Issues Promissory Note to Investor

On September 22, 2025, Scorpius Holdings, Inc. issued a non-convertible promissory note valued at $128,000 to an institutional investor. The note, which accrues interest at 5% per annum, is set to mature on October 31, 2025, or upon the occurrence of a corporate event or default. The issuance was made under an exemption from registration requirements, reflecting the company’s strategic financial maneuvering to manage its obligations.

Scorpius Holdings Issues Promissory Note to Investor

On September 12, 2025, Scorpius Holdings, Inc. issued a non-convertible promissory note valued at $471,000 to an institutional investor. The note, which accrues interest at 5% per annum, is set to mature on October 31, 2025, or upon the occurrence of a corporate event or default. The issuance was made under an exemption from registration requirements, allowing the company flexibility in its financial operations.