Company: SWKH
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001628280-25-025955
Chunk: 14

Company: SWK Holdings Corp
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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,235 

 See accompanying notes to the unaudited condensed consolidated financial statements.

1

SWK HOLDINGS CORPORATION

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(in thousands, except per share data)

 Three Months EndedMarch 31,20252024Revenues:Finance receivable interest income, including fees$10,712 $11,035 Pharmaceutical development 963 279 Other 157 46 Total revenues11,832 11,360 Costs and expenses:Provision (benefit) for credit losses(1,465)5,297 Interest expense1,130 1,256 Pharmaceutical manufacturing, research and development expense758 530 Depreciation and amortization expense19 514 General and administrative expense3,277 2,684 Income from operations8,113 1,079 Other income (expense), netUnrealized net loss on warrants(424)(95)Net loss on exercise and cancellation of warrants— (143)Loss on sale of assets(82)— Net loss on marketable investments(105)(231)Realized gain on early payment of finance receivable1,729 — Loss on revaluation of finance receivables held for sale(3,727)— Realized and unrealized foreign currency transaction gains313 87 Income before income tax expense5,817 697 Income tax expense1,278 229 Net income$4,539 $468 Net income per shareBasic$0.37 $0.04 Diluted$0.37 $0.04 Weighted average shares outstandingBasic 12,229 12,475 Diluted12,240 12,496 

See accompanying notes to the unaudited condensed consolidated financial statements.

2

SWK HOLDINGS CORPORATION

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

(in thousands, except share data)

Three Months Ended March 31, 2025Common StockAdditional Paid-In CapitalAccumulated DeficitTotal Stockholders' EquitySharesAmountBalances at December 31, 202412,213,599 $12 $4,419,991 $(4,131,313)$288,690 Stock-based compensation— — 307 — 307 Issuance of restricted common stock61,260 — —