Company: SWKH
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001628280-25-013989
Chunk: 71

Company: SWK Holdings Corp
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1B
Chunk 71
---
 cash flows. Evaluating management’s assumptions used to estimate future cash flows for reasonableness involved (i) considering historical cash flows from the Company’s finance receivable portfolio; (ii) comparing prior period estimates to actual results of the same period; (iii) publicly available information which supports or is to the contrary of the estimated future cash flows and; (iv) determining whether the estimated cash flows used were consistent with evidence obtained in other areas of the audit.

/s/ BPM LLP

We have served as the Company’s auditor since 2006.

San Francisco, California

March 20, 2025

33

SWK HOLDINGS CORPORATION

CONSOLIDATED BALANCE SHEETS

(In thousands, except share data)

Year Ended December 31,20242023AssetsCurrent assets:Cash and cash equivalents$5,927 $4,503 Restricted cash— 733 Interest, accounts receivable, and other receivables, net5,788 4,729 Assets held for sale, net (Note 7)6,398 — Other current assets2,141 1,904 Total current assets20,254 11,869 Finance receivables, net of allowance for credit losses of $11,249 and $13,901 as of December 31, 2024 and December 31, 2023, respectively277,760 274,504 Collateral on foreign currency forward contract2,750 2,750 Marketable investments580 48 Deferred tax assets, net23,484 28,290 Warrant assets4,366 1,759 Intangible assets, net— 6,487 Property and equipment, net48 5,438 Other non-current assets2,993 3,109 Total assets$332,235 $334,254 Liabilities and Stockholders' EquityCurrent liabilities:Accounts payable and accrued liabilities$2,810 $3,935 Liabilities held for sale (Note 7)1,255 — Deferred income1,500 9 Total current liabilities5,565 3,944 Contingent consideration payable— 4,900 Unsecured senior notes, net31,412 30,781 Revolving credit facility6,233 12,350 Other non-current liabilities335 1,964 Total liabilities43,545 53,939 Commitments and contingencies (Note 9)Stockholders' equity