Forensic Analysis · Pharmaceuticals & Biotechnology · as of Nov 9, 2026

Scynexis Inc (SCYX)

A forensic read on Scynexis Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

D · Weak — demands caution

Forensic grade

Distress

Financial health

-13.9

Distress distance

Clean

Earnings quality

Forensic signals

-16.5%

ROE

449.9%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Scynexis Inc earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads -13.9, placing it in the Distress zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

-30.8%

FY2025

Return on invested capital. Return on invested capital is -30.8% in the latest fiscal year, against 83.8% in FY2023, having run between -45.6% and 83.8% across FY2023–FY2025 with no direction held. After-tax operating profit was $65M in FY2023 and ($13M) in FY2025, with operating income at 51.9% of revenue in FY2023, -990.8% in FY2024 and -78.0% in FY2025. The capital base behind it came down -47% across FY2023–FY2025, from $78M to $41M, so this return is struck on a smaller base than it started on. $31M of the $41M base at FY2025 is short-term investments (75.2%) — securities held beside cash, which the base keeps because only cash is subtracted from it; they earn the balance sheet's yield, which is not in the operating profit above, so the loss on the operating capital is larger than this rate shows.

0.83×

FY2023–FY2025

Cash conversion. Over FY2023–FY2025, cumulative operating cash flow was 0.83× cumulative net income. Cash is lagging reported profit. The shortfall is profit tied up in working capital rather than collected — the accrual and receivables lines below show where.Cash conversion: operating cash flow divided by net income, the share of profit that arrived as cash.

Key fundamentals

Latest Revenue$20.6M

Revenue Growth YoY+449.9%

Revenue CAGR (2yr)-61.7%

Net Margin-41.8%

Return on Equity-16.5%

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.