Scorpius : Results of Operations and Financial Condition - Form 8-K

Item 2.02. Results of Operations and Financial Condition.

On a preliminary unaudited basis, for the quarter ended March 31, 2024, Scorpius Holdings, Ins. (the "Company") expects to recognize between $4.0 million and $5.0 million of revenue. The Company expects its operating loss to be between $3.8 million and $5.1 million and net loss before income taxes from continuing operations to be between $4.0 million and $5.3 million. At March 31, 2024 the Company's cash and cash equivalents and short-term investments was approximately $1.7 million.

The estimates of revenue, operating loss, and net loss before income taxes from continuing operations are the Company's preliminary estimates based on currently available information and are subject to completion of the Company's financial closing procedures. They do not present all necessary information for an understanding of the Company's financial condition as of March 31, 2024 or its results of operations for the three months ended March 31, 2024. The Company's independent registered public accounting firm has not conducted an audit or review of and does not express an opinion or any other form of assurance with respect to, the preliminary unaudited revenue results. It is possible that the Company or its independent registered public accounting firm may identify items that require the Company to make adjustments to the preliminary estimates of revenue, operating loss, and net loss before income taxes from continuing operations set forth above. Accordingly, undue reliance should not be placed on the preliminary estimates.