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SWKH

SWK Holdings Corporation

SWKH

SWK Holdings Corporation • NASDAQ
$16.98 ▲ 1.01% (+0.17)
Market Cap $207.09 M
52w High $17.90
52w Low $12.28
Dividend Yield 4.00%
P/E 9.18
Volume 1.25K
Outstanding Shares 12.20M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $10.882M ▲ $4.059M ▼ $8.78M ▲ 80.684% ▲ $0.72 ▲ $11.908M ▲
Q2-2025 $10.052M ▼ $4.778M ▲ $3.536M ▼ 35.177% ▼ $0.29 ▼ $5.768M ▼
Q1-2025 $11.832M ▼ $2.961M ▼ $4.539M ▼ 38.362% ▼ $0.37 ▼ $7.046M ▼
Q4-2024 $12.362M ▲ $6.267M ▲ $5.872M ▲ 47.5% ▲ $0.47 ▲ $10.063M ▲
Q3-2024 $10.418M $5.751M $3.468M 33.289% $0.28 $5.825M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $10.206M ▲ $289.362M ▲ $35.156M ▼ $254.206M ▲
Q2-2025 $8.006M ▼ $285.697M ▼ $39.228M ▲ $246.469M ▼
Q1-2025 $29.809M ▲ $331.264M ▼ $38.595M ▼ $292.669M ▲
Q4-2024 $5.927M ▼ $332.235M ▲ $43.545M ▲ $288.69M ▲
Q3-2024 $17.178M $321.279M $37.848M $283.431M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $8.78M ▲ $906K ▼ $2.959M ▼ $-1.665M ▲ $2.2M ▲ $557K ▼
Q2-2025 $3.536M ▼ $7.801M ▼ $20.139M ▼ $-49.743M ▼ $-21.803M ▼ $7.738M ▼
Q1-2025 $4.539M ▼ $8.28M ▲ $22.702M ▲ $-7.1M ▼ $23.882M ▲ $8.18M ▲
Q4-2024 $5.872M ▲ $6.889M ▲ $-23.524M ▼ $5.384M ▲ $-11.251M ▼ $6.801M ▲
Q3-2024 $3.095M $6.317M $8.577M $-3.265M $11.629M $6.288M

Five-Year Company Overview

Income Statement

Income Statement SWK shows a pattern of being consistently profitable but not really growing. Revenue has stayed fairly flat over the last several years, which suggests a stable but small-scale business rather than a fast-expanding one. Margins look reasonably healthy for a specialty finance firm, with operating and EBITDA profits remaining positive through different market conditions. Net income moves around year to year, with at least one standout year of unusually strong earnings that does not appear to be the new normal. Overall, the income statement reflects a niche, capital-efficient lender that earns money steadily, but with limited top-line momentum and some lumpiness in bottom-line results.

Balance Sheet

Balance Sheet The balance sheet looks conservative and relatively clean. Total assets have edged up over time, and shareholder equity has steadily increased, which indicates retained profitability and restrained use of leverage. Debt is present but modest versus the asset base, pointing to a cautious funding approach rather than an aggressive, highly leveraged model. Cash balances move up and down, which is typical for a small finance company that deploys and collects capital in cycles, but there is no sign of stress from the data provided. In short, the company appears reasonably well-capitalized and not overextended.

Cash Flow

Cash Flow Cash generation is a quiet strength. Operating cash flow has been consistently positive, and free cash flow closely tracks it, since the business has almost no need for heavy capital spending. This fits with a capital-light, financing-focused model where money primarily flows into and out of loans and royalty interests rather than into physical assets or big facilities. The scale is still modest, but the pattern over multiple years suggests the underlying portfolio has been cash generative and largely self-funding, which lowers dependence on external financing.

Competitive Edge

Competitive Edge SWK occupies a narrow but defensible niche at the intersection of healthcare and structured finance. Its edge comes from deep expertise in life sciences, a willingness to fund smaller deals that many large lenders ignore, and flexible, non-dilutive financing structures that appeal to management teams trying to avoid heavy equity dilution. On top of that, the legacy drug-delivery business (now under MOD3 Pharma branding) adds a differentiated, intellectual-property-based angle that most asset managers do not have. That said, SWK remains small compared with major asset managers and specialty lenders, which can limit scale, brand recognition, and diversification. The planned acquisition by Runway Growth Finance suggests SWK’s capabilities are strategically valuable, but it also introduces integration risk and uncertainty about how its niche will be managed within a larger platform.

Innovation and R&D

Innovation and R&D Innovation shows up in two ways: in how SWK structures financing, and in its drug-delivery technologies via MOD3 Pharma. On the financing side, the company’s “innovation” is mainly know-how: tailoring debt, royalties, and synthetic royalty deals to fit the needs of smaller healthcare companies that may not fit traditional bank criteria. This is less about labs and patents, more about structuring skill and risk assessment. On the pharmaceutical side, the Peptelligence and ProPerma platforms are genuine technology assets that enable oral delivery of drugs typically given by injection, plus specialized work in inhaled and nasal formulations. Recent moves, including the sale of some manufacturing capabilities and sharper focus on R&D and licensing, suggest a pivot toward a lighter, partnership-driven model that monetizes intellectual property rather than owning heavy infrastructure. Overall, innovation is targeted and specialized rather than broad-based, but it does provide differentiation beyond a typical finance-only firm.

Summary

SWK looks like a small, specialized, and consistently profitable platform that combines healthcare-focused lending with drug-delivery intellectual property. Financially, it is stable, modestly profitable, and capital-light, with a cautious balance sheet and steady cash generation, but without clear signs of strong growth. Strategically, the company has carved out a differentiated role in non-dilutive life sciences financing and owns unique formulation technologies through MOD3 Pharma. The upcoming acquisition by Runway Growth Finance is a pivotal event: it validates the strategic value of SWK’s niche, but it also means the long-term picture will depend heavily on how its portfolio, people, and technologies are integrated, and on the future direction of the MOD3 Pharma assets and partnerships. Overall, this is a focused, niche story with both strengths (specialization, conservative finances, proprietary IP) and notable uncertainties around scale, concentration, and post-acquisition evolution.

NEWS

November 6, 2025 · 5:10 PM UTC

SWK Holdings Corporation Announces Financial Results for Third Quarter 2025

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October 14, 2025 · 2:57 PM UTC

SWK Holdings Investor Alert By The Former Attorney General Of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of SWK Holdings Corporation - SWKH

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October 10, 2025 · 5:30 PM UTC

$HAREHOLDER ALERT: The M&A Class Action Firm Announces An Investigation of SWK Holdings Corporation (NASDAQ: SWKH)

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October 9, 2025 · 8:35 PM UTC

SWKH STOCK ALERT: Halper Sadeh LLC Is Investigating Whether the Sale of SWK Holdings Corporation Is Fair to Shareholders

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October 9, 2025 · 6:00 PM UTC

Runway Growth Finance Corp. to Acquire SWK Holdings Corporation

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