Revenue remains highly volatile with a 100% decline in 2025Q2, while operating margins remain deeply negative at -62.3% as of 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'08 | Dec'07 | Dec'06 |
|---|
| Sales/Revenue | 477.68K | 431.61K | 136.64K | 1.36M | 10.25M | 9.89M | 17.12M | 7.44M | 3.83M | 2.93M | 2.48M | 2.91M | 1.5M | 955.88K | 0 | 0 | 0 |
| Revenue Growth % | 225.17% | 215.87% | -89.98% | -86.69% | 3.65% | -42.24% | 130.26% | 94.07% | 30.72% | 18.11% | -14.79% | 94.66% | 56.53% | - | - | - | - |
| Cost of Goods Sold | 561.03K | 100.13K | 130.64K | 1.31M | 4.73M | 5.14M | 11.42M | 2.57M | 449.05K | 0 | 16.36K | 189.84K | 440.05K | 944.07K | 0 | 0 | 0 |
| COGS % of Revenue | - | 23.2% | 95.61% | 96.41% | 46.15% | 52.01% | 66.67% | 34.5% | 11.72% | - | 0.66% | 6.52% | 29.41% | 98.76% | - | - | - |
| Gross Profit | -83.35K | 331.48K | 6K | 49.03K | 5.52M | 4.75M | 5.71M | 4.87M | 3.38M | 2.93M | 2.47M | 2.72M | 1.06M | 11.81K | 0 | 0 | 0 |
| Gross Margin % | -17.45% | 76.8% | 4.39% | 3.6% | 53.85% | 47.99% | 33.33% | 65.5% | 88.28% | 100% | 99.34% | 93.48% | 70.59% | 1.24% | - | - | - |
| Gross Profit Growth % | - | 5420.1% | -87.75% | -99.11% | 16.29% | -16.84% | 17.18% | 43.99% | 15.4% | 18.89% | -9.45% | 157.79% | 8842.34% | - | - | - | - |
| Operating Expenses | 15.35M | 16.58M | 14.71M | 4.45M | 8.44M | 10.04M | 8.21M | 4.75M | 3.47M | 2.54M | 3.47M | 2.86M | 2.49M | 2.1M | 28.5M | 28.19K | 8.72K |
| OpEx % of Revenue | - | 3840.58% | 10763.1% | 325.96% | 82.29% | 101.5% | 47.97% | 63.82% | 90.57% | 86.52% | 139.93% | 98.19% | 166.26% | 219.25% | - | - | - |
| Selling, General & Admin | 2.02B | 14.52M | 12.05M | 4.35M | 6.57M | 7.54M | 7.49M | 4.38M | 3.47M | 1.41M | 3.34M | 2.86M | 2.49M | 2.1M | 28.5M | 24.77K | 5.16K |
| SG&A % of Revenue | - | 3364.79% | 8821.54% | 318.6% | 64.07% | 76.2% | 43.73% | 58.86% | 90.57% | 47.93% | 134.64% | 98.19% | 166.26% | 219.25% | - | - | - |
| Research & Development | 2.18M | 1.96M | 2.24M | 0 | 993.18K | 899.71K | 662.73K | 0 | 949.95K | 863.32K | 0 | 0 | 0 | 0 | 0 | 0 | 3.56K |
| R&D % of Revenue | - | 453.25% | 1636.89% | - | 9.69% | 9.1% | 3.87% | - | 24.79% | 29.45% | - | - | - | - | - | - | - |
| Other Operating Expenses | -447.72K | 97.26K | 416.31K | 100.28K | 875.25K | 1.6M | 63.25K | 368.52K | -949.95K | 267.83K | 131.27K | 0 | 0 | 0 | 0 | 3.42K | 0 |
| Operating Income | -15.43M | -16.24M | -14.7M | -4.4M | -2.92M | -5.29M | -2.51M | 125.22K | -87.62K | 395.1K | -1.01M | -137.07K | -1.43M | -2.08M | -28.5M | -28.19K | -8.72K |
| Operating Margin % | -3230.04% | -3763.78% | -10758.7% | -322.36% | -28.45% | -53.51% | -14.64% | 1.68% | -2.29% | 13.48% | -40.59% | -4.71% | -95.67% | -218.02% | - | - | - |
| Operating Income Growth % | - | -10.5% | -234.38% | -50.77% | 44.9% | -111.13% | -2101.74% | 242.92% | -122.18% | 139.22% | -634.86% | 90.42% | 31.31% | 92.69% | -101003.38% | -223.05% | - |
| EBITDA | -14.48M | -15.75M | -14.65M | -3.35M | -2.72M | -5.15M | -2.4M | 219.96K | 66.58K | 446.04K | -1.02M | -133.27K | -1.43M | -2.08M | -28.5M | -28.19K | -8.72K |
| EBITDA Margin % | -3032.26% | -3649.83% | -10719.65% | -245.38% | -26.55% | -52.11% | -14.04% | 2.96% | 1.74% | 15.22% | -41.16% | -4.58% | -95.35% | -217.6% | - | - | - |
| EBITDA Growth % | -13.88% | -7.55% | -337.68% | -22.98% | 47.19% | -114.35% | -1193.02% | 230.37% | -85.07% | 143.66% | -666.58% | 90.66% | 31.41% | 92.7% | -101003.38% | -223.05% | - |
| D&A (Non-Cash Add-back) | 944.77K | 491.78K | 53.36K | 1.05M | 194.7K | 138.91K | 102.52K | 94.73K | 0 | 0 | 0 | 3.8K | 4.8K | 3.99K | 0 | 0 | 0 |
| EBIT | -40.54M | -39.42M | -17.44M | -7.34M | -2.07M | -5.29M | -2.51M | -231.2K | 66.58K | 446.04K | -1.02M | -137.07K | -2.01M | -2.08M | -28.5M | -28.19K | -8.72K |
| Net Interest Income | -3.04M | -3.78M | -1.2M | -1.14M | -315.22K | -23.59K | -29.39K | -53.23K | -57.54K | -157.06K | -151.5K | -119.51K | -4.15K | -7.28K | 0 | 0 | 0 |
| Interest Income | 410.6K | 302.7K | 135.34K | 4.2K | 20.99K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 3.45M | 4.08M | 1.34M | 1.14M | 336.21K | 23.59K | 29.39K | 53.23K | 57.54K | 157.06K | 151.5K | 119.51K | 4.15K | 7.28K | 0 | 0 | 0 |
| Other Income/Expense | -28.42M | -27.26M | -4.08M | -4.09M | 512.53K | -23.59K | -29.39K | -409.65K | 96.65K | -106.11K | -165.83K | -119.51K | -580.57K | -7.28K | 28.5M | 28.19K | 8.72K |
| Pretax Income | -43.85M | -43.51M | -18.78M | -8.48M | -2.4M | -5.32M | -2.54M | -284.43K | 9.04K | 288.98K | -1.17M | -256.58K | -2.01M | -2.09M | 0 | 0 | 0 |
| Pretax Margin % | -9178.9% | -10080.22% | -13743.02% | -621.99% | -23.45% | -53.75% | -14.81% | -3.82% | 0.24% | 9.86% | -47.27% | -8.81% | -134.47% | -218.78% | - | - | - |
| Income Tax | -1.99M | -1.99M | -534.4K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 28.5M | 28.19K | 8.72K |
| Effective Tax Rate % | 4.55% | 4.59% | 2.85% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | - | - | - |
| Net Income | -41.85M | -41.51M | 9.07M | -17.84M | -3.47M | -5.32M | -2.54M | -284.43K | 9.04K | 288.98K | -2.76M | -1.12M | -2.01M | -2.09M | -28.5M | -28.19K | -8.72K |
| Net Margin % | -8761.28% | -9618.03% | 6634.66% | -1308.34% | -33.87% | -53.75% | -14.81% | -3.82% | 0.24% | 9.86% | -111.21% | -38.36% | -134.47% | -218.78% | - | - | - |
| Net Income Growth % | -174.53% | -557.9% | 150.81% | -413.91% | 34.68% | -109.61% | -791.63% | -3247.02% | -96.87% | 110.47% | -147.06% | 44.48% | 3.79% | 92.66% | -101003.38% | -223.05% | - |
| Net Income (Continuing) | -41.85M | -41.51M | -18.24M | -8.48M | -2.4M | -5.32M | -2.54M | -284.43K | 9.04K | 288.98K | -1.17M | -256.58K | -2.01M | -2.09M | -28.5M | -28.19K | -8.72K |
| Discontinued Operations | 0 | 0 | 27.31M | -9.36M | -1.51M | 0 | 0 | 0 | 0 | 0 | -1.59M | -860.6K | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | -420.27K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.10 | -2.70 | 2.48 | -7.49 | -6.15 | -9.80 | -4.94 | -0.72 | 0.02 | 0.90 | -7.87 | -3.21 | -6.07 | -13.35 | -24252.77 | -23.99 | -7.43 |
| EPS Growth % | 24.99% | -208.87% | 133.11% | -21.79% | 37.24% | -98.38% | -586.11% | -3190.13% | -97.41% | 111.44% | -145.17% | 47.12% | 54.53% | 99.94% | -100995.33% | -222.88% | - |
| EPS (Basic) | - | -2.70 | 2.69 | -23.35 | -6.15 | -9.80 | -4.94 | -0.72 | 0.03 | 0.90 | -7.87 | -3.21 | -6.07 | -13.35 | -24630.08 | -23.99 | -7.43 |
| Diluted Shares Outstanding | 406.31M | 153.47M | 3.65M | 2.38M | 564.86K | 542.45K | 513.71K | 395.27K | 388.35K | 378.74K | 350.5K | 347.95K | 331.46K | 156.69K | 1.18K | 1.18K | 1.18K |
| Basic Shares Outstanding | 406.31M | 153.47M | 3.38M | 764.06K | 564.86K | 542.45K | 513.71K | 395.27K | 358.38K | 355.06K | 350.5K | 347.95K | 331.46K | 156.69K | 1.16K | 1.18K | 1.18K |
| Dividend Payout Ratio | - | - | 163.9% | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Persistent Operating Losses
Based on reported financial statements, Scienture Holdings exhibits highly volatile revenue streams, with quarterly figures frequently oscillating between negligible amounts and complete reporting gaps, as evidenced by the 100% revenue decline observed in 2025Q2 and the subsequent nominal recovery to $56.3K in 2026Q1.
The lack of consistent top-line generation suggests that the company has yet to establish a repeatable commercial model. Investors should monitor whether these fluctuations represent genuine operational instability or merely the timing of irregular, non-recurring service contracts.
As indicated by historical income statements, gross margins for Scienture Holdings remain profoundly unstable, swinging from a negative 7.4% in 2026Q1 to an anomalous 144.5% in 2025Q4, which highlights a fundamental inability to maintain consistent pricing power or cost control over its service offerings.
Such extreme variance in gross profitability suggests that the company's cost structure is not aligned with its revenue generation, potentially due to low volume or high fixed-cost absorption. This volatility makes it difficult to forecast future profitability or assess the underlying unit economics of the business.
According to recent SEC filings, Scienture Holdings consistently incurs operating expenses that dwarf its revenue, with SG&A costs reaching $2.0B in 2026Q1 alone, a figure that underscores a significant disconnect between administrative overhead and the company's current ability to generate meaningful commercial value.
The persistent reliance on high SG&A spending relative to negligible revenue suggests an aggressive, perhaps premature, investment in infrastructure. This cost structure warrants further investigation into whether these expenditures are necessary for future scaling or if they represent an unsustainable burn rate.
Based on the provided data, the quality of earnings is heavily impacted by non-cash items, specifically the $102.3M in stock-based compensation recorded in 2026Q1, which significantly obscures the true economic performance of the firm and complicates the assessment of core operational efficiency.
The reliance on equity-based incentives while the company generates minimal revenue and substantial net losses may indicate a misalignment between management compensation and shareholder outcomes. Analysts should be wary of how these non-cash charges mask the underlying cash-burn reality of the business.
As reported in financial statements, the company's inability to achieve positive operating income across any of the last ten quarters suggests that the current business model may be fundamentally unviable without continuous external capital injections to cover recurring losses and high administrative overhead.
Short-sellers would likely focus on the persistent negative operating margins and the lack of a clear path to profitability. The company appears to be in a precarious position where the cost of maintaining operations far exceeds the value currently being captured from the market.
Quick answers to the most common questions about buying SCNX stock.
For fiscal year 2025, Scienture Holdings, Inc. (SCNX) reported total revenue of $0.4M.
Scienture Holdings, Inc. (SCNX) reported a net loss of $41.5M for the fiscal year ending 2025.
Scienture Holdings, Inc. (SCNX) reported an operating income of $-16.2M, resulting in an operating profit margin of -3763.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Scienture Holdings, Inc. (SCNX) generated $0.3M in gross profit for the year, representing a gross profit margin of 76.8%. This demonstrates the company's core pricing power and production efficiency.