Company: SWKH
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050155
Chunk: 105

Company: SWK Holdings Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 105
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 of Operations” of our Annual Report. We believe there have been no new critical accounting policies or material changes to our existing critical accounting policies and estimates during the nine months ended September 30, 2025, compared to those discussed in our Annual Report.

Recent Accounting Pronouncements

Refer to Part I. Financial Information, Item 1. Financial Statements, Note 1 of the notes to the unaudited condensed consolidated financial statements for a listing of recent accounting pronouncements and their potential impact to our consolidated financial statements.

Comparison of the three months ended September 30, 2025 and 2024 (in millions)

Three Months EndedSeptember 30,20252024Change $Revenues$10.9 $10.4 $0.5 Provision (benefit) for credit losses(0.9)1.4 (2.3)Loss on impairment of intangible assets0.2 — 0.2 Interest expense1.2 1.1 0.1 Pharmaceutical manufacturing, research and development expense0.1 0.6 (0.5)Loss on disposal of inventory0.3 — 0.3 Depreciation and amortization expense— 0.2 (0.2)General and administrative expense3.3 3.0 0.3 Other income (expense), net4.0 0.3 3.7 Income tax expense1.9 0.9 1.0 Net income8.8 3.5 5.3 

Revenues

Revenues increased to $10.9 million for the three months ended September 30, 2025 from $10.4 million for the three months ended September 30, 2024. The $0.5 million increase in revenue for the three months ended September 30, 2025 was primarily due to a $1.1 million increase in Finance Receivables segment revenue. The finance receivables segment revenue increased primarily due to the acceleration of exit fees earned on early payoff of the loan with Elutia, Inc.

Provision (benefit) for Credit Losses

Our provision for credit losses is established through charges or credits to income in the form of the provision in order to bring our allowance for credit losses for loans and unfunded commitments to a level deemed appropriate by management. We recognized a net benefit for credit losses of $0.9 million and a provision for credit