Company: SWKH
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050155
Chunk: 107

Company: SWK Holdings Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 107
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 (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 million decrease in Finance Receivables segment revenue was primarily due to a decrease in interest, fees and royalties earned on finance receivables that were paid off or sold during the period. The increase in the Pharmaceutical Development segment was primarily due to the Aptar collaboration agreement. 

Provision (Benefit) for Credit Losses

Our provision for credit losses is established through charges or credits to income in the form of the provision in order to bring our allowance for credit losses for loans and unfunded commitments to a level deemed appropriate by management. We recognized a net benefit for credit losses of $1.6 million during the nine months ended September 30, 2025 and a provision of $10.8 million during the nine months ended September 30, 2024. The decrease was primarily due to impairments included within the provision for credit losses during the nine months ended September 30, 2024. See Note 3 to the unaudited condensed consolidated financial statements for further information on the allowance for credit losses.

Interest Expense

Interest expense consists of