Company: SWKH
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050155
Chunk: 91

Company: SWK Holdings Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 91
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5 as compared to 2024, primarily due to increased legal fees partially offset by a reduction in compensation costs as a result of the MOD3 asset sale. 

Other Income (Expense), Net 

Other income (expense), net increased to an income of $4.0 million for the three months ended September 30, 2025 from income of $0.3 million for the three months ended September 30, 2024. The $3.7 million increase primarily relates to the gain on fair value of adjustments of warrants and gain on sale of the MOD3 assets.

Income Tax Expense

Income tax expense increased for the three months ended September 30, 2025 as compared to the same period in the previous year as a result of the change in the provision for credit losses.  

33

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

Nine Months EndedSeptember 30,20252024Change $Revenues$32.8 $32.6 $0.2 Provision (benefit) for credit losses(1.6)10.8 (12.4)Loss on impairment of intangible assets0.2 5.8 (5.6)Interest expense3.5 3.5 — Pharmaceutical manufacturing, research and development expense1.6 1.6 — Loss on disposal of inventory0.3 — 0.3 Change in fair value of acquisition-related contingent consideration— (4.9)4.9 Depreciation and amortization expense— 1.2 (1.2)General and administrative expense9.4 8.6 0.8 Other income (expense), net1.7 3.7 (2.0)Income tax expense4.2 2.2 2.0 Net income16.9 7.6 9.3 

Revenues

Revenues increased to $32.8 million for the nine months ended September 30, 2025 from $32.6 million for the nine months ended September 30, 2024. The $0.2 million increase in revenue for the nine months ended September 30, 2025 consisted of a $0.4 million decrease in Finance Receivables segment revenue offset by a $0.6 million increase in Pharmaceutical Development segment revenue. The $0.4