Company: SWKH
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050155
Chunk: 81

Company: SWK Holdings Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 81
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Level 3Financial AssetsFinance receivables, net$245,396 $245,396 $— $— $245,396 Marketable investments275 275 275 — — Warrant assets7,599 7,599 — — 7,599 

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The following table presents the fair value of financial assets and liabilities as of December 31, 2024 (in thousands):Carrying ValueFair ValueLevel 1Level 2Level 3Financial AssetsFinance receivables, net$277,760 $277,760 $— $— $277,760 Marketable investments580 580 559 — 21 Warrant assets4,366 4,366 — — 4,366 Foreign currency forward contract2,475 2,475 — — 2,475 

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Note 9. Revenue Recognition

The Company's Pharmaceutical Development segment recognizes revenues received from contracts with its customers by revenue source, as we believe it best depicts the nature, amount, timing and uncertainty of our revenue and cash flow. The Company's Finance Receivables segment does not have any revenues received from contracts with customers.The following table provides the contract revenue recognized by revenue source (in thousands):Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Pharmaceutical Development SegmentLicense Agreement$— $— $— $49 Pharmaceutical Development — 628 2,153 1,662 Total contract revenue$— $628 $2,153 $1,711 The Company's contract liabilities represent advance consideration received from customers and are recognized as revenue when the related performance obligation is satisfied. The Company’s contract liabilities are presented as deferred income and are included in accounts payable and accrued liabilities in the consolidated balance sheets (in thousands):September 30, 2025December 31, 2024Pharmaceutical Development SegmentBeginning balance$1,500 $9 Income recognized (1)(3,300)(9)Additions to deferred income1,800 1,500 Ending balance$— $1,500 (1) Included as a component on the gain of sale of MOD3 assets

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Note 10. Segment Information

Selected financial and descriptive information is required to be provided about reportable operating segments, considering a “management approach” concept as the basis for identifying