Company: SWKH
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001628280-25-025955
Chunk: 92

Company: SWK Holdings Corp
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 92
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 warrants exercised and converted to shares.(7)As of March 31, 2025 these royalties are included in finance receivables held for sale(8)Investment was paid off  during the three months ended March 31, 2025

Unless otherwise specified, our senior secured debt assets generally are repaid by a revenue interest that is charged on a company’s quarterly net sales and royalties.

25

Critical Accounting Policies and Estimates 

Our critical accounting policies and estimates are described in Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results 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 three months ended March 31, 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 March 31, 2025 and 2024 (in millions)

Three Months EndedMarch 31,20252024Change $Revenues$11.8 $11.4 $0.4 Provision (benefit) for credit losses(1.5)5.3 (6.8)Interest expense1.1 1.3 (0.2)Pharmaceutical manufacturing, research and development expense0.8 0.5 0.3 Depreciation and amortization expense— 0.5 (0.5)General and administrative expense3.3 2.7 0.6 Other income (expense), net(2.3)(0.4)(1.9)Income tax expense1.3 0.2 1.1 Net income4.5 0.5 4.0 

Revenues

Revenues increased to $11.8 million for the three months ended March 31, 2025 from $11.4 million for the three months ended March 31, 2024. The $0.4 million increase in revenue for the three months ended March 31, 2025 was primarily due to a $0.3 million decrease in Finance Receivables segment revenue and a $0.7 million increase in Pharmaceutical Development segment revenue. The increase in