Company: SWKH
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050155
Chunk: 26

Company: SWK Holdings Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 above Company expectations and loan-to-value similar or modestly better than underwriting case. Borrower has demonstrated access to capital markets.5: Borrower performing in excess of Company expectations, and loan-to-value is better than at time of origination.The Company uses an internal credit rating system which rates each Royalty on a color scale of Green to Red, with Green typically indicative of a Royalty that is exceeding base underwritten case, Yellow indicates a royalty is performing in-line with underwritten plan, and Red reflective of underperformance relative to plan. Royalties rated as Red are generally classified as non-accrual.

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The following table summarizes the gross carrying value of Finance Receivables by origination year, grouped by risk rating (in thousands):September 30, 202520252024202320222021PriorTotalTerm Loans5$— $29,644 $— $19,623 $16,409 $— $65,676 414,594 8,049 39,550 22,987 — — 85,180 3— — 20,033 27,372 — 23,037 70,442 2— — 5,923 — 14,413 — 20,336 Subtotal - Term Loans$14,594 $37,693 $65,506 $69,982 $30,822 $23,037 $241,634 RoyaltiesRed— — — — 2,522 8,980 11,502 Subtotal - Royalties$— $— $— $— $2,522 $8,980 $11,502 Total Finance Receivables, gross$14,594 $37,693 $65,506 $69,982 $33,344 $32,017 $253,136 December 31, 202420242023202220212020PriorTotalTerm Loans5$— $— $— $16,378 $— $28,926 $45,304 47,929 36,406 55,353 — — — 99,688 3— 24,920 — 11,930 — 26,482 63,332 2— — — 14,749 — — 14,