Company: SWKH
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040420
Chunk: 94

Company: SWK Holdings Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 94
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 expense. 

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Depreciation and Amortization Expense

    The $0.4 million decrease in depreciation and amortization expense for the three months ended June 30, 2025 primarily related to no longer amortizing intangible assets related to the Cara license as the intangible assets were fully impaired. In addition, MOD3 was classified as held for sale for the current period resulting in no depreciation on fixed assets included in held for sale.

General and Administrative Expense

General and administrative expenses consist primarily of compensation; stock-based compensation and related costs for management, staff and Board; legal and audit expenses; and corporate governance expenses. General and administrative expenses remained consistent for the three months ended June 30, 2025 as compared to 2024. 

Other Income (Expense), Net 

Other income (expense), net decreased to an expense of $0.1 million for the three months ended June 30, 2025 from other income of $3.8 million for the three months ended June 30, 2024. The $3.9 million decrease primarily relates to the gain on revaluation of finance receivables and gain on exercise of warrants in the same period the prior year.

Income Tax Expense

Income tax expense remained consistent for the three months ended June 30, 2025 as compared to the same period in the previous year resulting in an immaterial change in total expense. 

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Comparison of the six months ended June 30, 2025 and 2024 (in millions)

Six Months EndedJune 30,20252024Change $Revenues$21.9 $22.2 $(0.3)Provision (benefit) for credit losses(0.7)9.4 (10.1)Loss on impairment of intangible assets— 5.8 (5.8)Interest expense2.3 2.4 (0.1)Pharmaceutical manufacturing, research and development expense1.4 1.1 0.3 Change in fair value of acquisition-related contingent consideration— (4.9)4.9 Depreciation and amortization expense— 0.9 (0.9)General and administrative expense6.1 5.6 0.5 Other income (expense), net(2.4)3.4 (5.8)Income tax expense2.3 1.3 1.0 Net income8.1