SWK Holdings Corp SWKHL

Financials SIC 6159 - Miscellaneous Business Credit Institution NAICS Finance and Insurance › Credit Intermediation and Related Activities › Nondepository Credit Intermediation › Sales Financing derived Nasdaq

SWK Holdings Corporation (the "Company," "we," or "us") was incorporated in July 1996 in California and reincorporated in Delaware in September 1999. In July 2012, we commenced a strategy of building a specialty finance and asset management business. In August 2019, we commenced a complementary strategy of building a pharmaceutical development, manufacturing and intellectual property licensing business. Prior to September 30, 2025 our operations were comprised of two reportable segments: "Finance Receivables" and "Pharmaceutical Development." As a result of the sale of substantially all assets of the Pharmaceutical Development segment, the Finance Receivables segment will be the only remaining operating segment in subsequent years. We evaluate and invest in a broad range of healthcare related companies and products with innovative intellectual property, including the biotechnology, medical device, medical diagnostics and related tools, animal health and pharmaceutical industries (collectively, "life sciences"). We allocate capital within our finance receivables portfolio in order to generate income through the sales of life science products by third parties and related earned income sources. The Company is headquartered in Dallas, Texas.

Last close 25.16 2026-10-23
Market cap $304.4M 2025-12-31 share count
52-week range 24.34 - 25.92

Valuation FY2025 figures against the last close

P/S141.4x
P/E—
P/FCF11.4x
EV/EBITDA14.5x
Dividend yield—
Diluted EPS-0.21

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $2.2M$3.6M$1.2M$41.5M$56.2M$36.7M$30.7M$26.0M$79.0K$22.4M
R&D $1.6M$2.2M$3.4M$7.0M$7.3M$4.3M$1.2M———
SG&A $14.8M$11.5M$11.2M$13.0M$13.6M$10.5M$7.4M$4.9M$4.1M$2.8M
Total operating expenses ——-$14.7M-$10.0M-$31.0M$31.9M$16.1M$19.1M$12.6M$12.6M
Operating income $20.3M$11.6M$14.7M———————
Interest expense ——$1.8M$340.0K$374.0K$455.0K$338.0K$160.0K——
Pre-tax income $20.1M$18.4M$14.6M$9.5M$33.0M$3.7M$16.8M$6.2M$24.0M$10.4M
Income tax $22.6M$4.9M$1.3M$4.0M$7.1M$1.5M$7.0M$42.0K$15.8M$21.6M
Net income -$2.5M$13.5M$15.9M$13.5M$25.9M$5.2M$23.8M$6.2M$3.0M$28.9M
EPS, basic -0.211.091.261.052.030.401.850.470.232.22
EPS, diluted -0.211.091.251.052.020.401.850.470.232.22
Shares, diluted (wtd. avg.) 12.2M12.4M12.7M12.9M12.8M12.9M12.9M13.1M13.0M13.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $42.8M$5.9M$5.2M$6.2M$42.9M$3.0M$11.2M$20.2M$30.6M$32.2M
Total current assets $46.8M$20.3M$11.9M$10.4M$47.4M$6.7M$16.3M$22.6M——
Property, plant and equipment $48.0K$5.4M$5.4M$5.8M$5.8M$5.2M$1.3M$25.0K——
Goodwill ———$8.4M$8.4M$8.4M$8.4M———
Other intangibles —$0$6.5M$8.2M$10.0M$13.5M$25.1M———
Total assets $272.4M$332.2M$334.3M$299.6M$282.7M$273.9M$254.4M$215.7M$209.9M$208.9M
Accounts payable $5.0M$2.8M$3.9M$3.9M$5.1M$3.7M$3.1M$2.6M$1.8M$682.0K
Total current liabilities $5.0M$5.6M$3.9M$6.3M$5.1M$15.4M$3.1M$2.6M——
Long-term debt $33.0M$33.0M$33.0M———————
Total liabilities $37.3M$43.5M$53.9M$19.7M$15.4M$33.4M$17.8M$2.6M$1.9M$871.0K
Retained earnings -$4.18B-$4.13B-$4.14B-$4.15B-$4.16B-$4.19B-$4.20B-$4.22B-$4.23B-$4.23B
Total equity $235.1M$288.7M$280.3M$279.9M$267.2M$240.5M$236.5M$213.1M$208.0M$204.3M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $27.3M$23.0M$14.9M$8.2M$34.3M$19.3M$18.5M$19.6M$19.5M$9.6M
Depreciation and amortisation $40.0K$1.4M$2.6M$2.6M$4.1M$12.1M$5.0M———
Stock-based compensation $1.2M$944.0K$509.0K$500.0K$1.2M$728.0K$530.0K$267.0K$300.0K$363.0K
Capital expenditure $512.0K$138.0K$496.0K$297.0K$1.1M$3.9M$48.0K———
Investing cash flow $68.1M-$10.1M-$48.9M-$43.5M$25.8M-$35.2M-$26.7M-$28.1M-$12.1M-$21.1M
Financing cash flow -$58.5M-$12.2M$33.1M-$1.4M-$20.2M$7.7M-$883.0K-$1.8M-$9.0M-$3.7M
Buybacks $3.1M$6.0M$6.3M$1.1M—$2.0M$883.0K$1.4M——

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001089907-26-000004.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -20M 0 20M 40M 60M Revenue, FY2016: 22.4M Net income, FY2016: 28.9M Revenue, FY2017: 79K Net income, FY2017: 3M Revenue, FY2018: 26M Net income, FY2018: 6.2M Revenue, FY2019: 30.7M Net income, FY2019: 23.8M Revenue, FY2020: 36.7M Net income, FY2020: 5.2M Revenue, FY2021: 56.2M Net income, FY2021: 25.9M Revenue, FY2022: 41.5M Net income, FY2022: 13.5M Revenue, FY2023: 1.2M Net income, FY2023: 15.9M Revenue, FY2024: 3.6M Net income, FY2024: 13.5M Revenue, FY2025: 2.2M Net income, FY2025: -2.5M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $22.4M $79.0K $26.0M $30.7M $36.7M $56.2M $41.5M $1.2M $3.6M $2.2M
Gross profit — — — — — — — — — —
Net income $28.9M $3.0M $6.2M $23.8M $5.2M $25.9M $13.5M $15.9M $13.5M -$2.5M

Recent filings and events

  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
  • Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
  • Change of control Control of the company has changed hands. Item 5.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • New debt or obligation Item 2.03

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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