SWK Holdings Corporation Announces Financial Results for Fourth Quarter 2024
SWK Holdings (NASDAQ:SWKH) reported strong financial results for Q4 2024, with GAAP net income reaching $5.9 million ($0.48 per diluted share), up from $2.8 million in Q4 2023. Total revenue increased 25% to $12.4 million.
Key financial metrics include:
- Finance receivables segment revenue up 11.6% to $10.3 million
- Net finance receivables of $277.8 million, up 1.2% year-over-year
- Effective yield increased to 15.5%, up 150 basis points
- GAAP book value per share rose 5% to $23.45
- Non-GAAP tangible financing book value per share increased 8.3% to $21.15
The company monetized its performing royalty portfolio for approximately $51.3 million and plans to declare a dividend upon closing the final transaction. Portfolio improvements include successful workout conclusions and new financing agreements, including a $15 million commitment with Impedimed and an expanded $30 million credit facility with Eton.
SWK Holdings (NASDAQ:SWKH) ha riportato risultati finanziari solidi per il quarto trimestre del 2024, con un reddito netto GAAP che ha raggiunto i 5,9 milioni di dollari (0,48 dollari per azione diluita), in aumento rispetto ai 2,8 milioni di dollari del quarto trimestre del 2023. Il fatturato totale è aumentato del 25%, raggiungendo i 12,4 milioni di dollari.
I principali indicatori finanziari includono:
- Il fatturato del segmento dei crediti finanziari è aumentato dell'11,6% a 10,3 milioni di dollari
- Crediti finanziari netti di 277,8 milioni di dollari, in aumento dell'1,2% rispetto all'anno precedente
- Il rendimento effettivo è aumentato al 15,5%, in crescita di 150 punti base
- Il valore contabile GAAP per azione è aumentato del 5% a 23,45 dollari
- Il valore contabile tangibile non-GAAP per azione è aumentato dell'8,3% a 21,15 dollari
L'azienda ha monetizzato il suo portafoglio di royalty performanti per circa 51,3 milioni di dollari e prevede di dichiarare un dividendo al termine della transazione finale. I miglioramenti del portafoglio includono conclusioni di workout di successo e nuovi accordi di finanziamento, tra cui un impegno di 15 milioni di dollari con Impedimed e una linea di credito ampliata di 30 milioni di dollari con Eton.
SWK Holdings (NASDAQ:SWKH) informó resultados financieros sólidos para el cuarto trimestre de 2024, con un ingreso neto GAAP que alcanzó los 5,9 millones de dólares (0,48 dólares por acción diluida), un aumento desde los 2,8 millones de dólares en el cuarto trimestre de 2023. Los ingresos totales aumentaron un 25% a 12,4 millones de dólares.
Los principales indicadores financieros incluyen:
- Los ingresos del segmento de cuentas por cobrar financieras aumentaron un 11,6% a 10,3 millones de dólares
- Cuentas por cobrar financieras netas de 277,8 millones de dólares, un aumento del 1,2% interanual
- El rendimiento efectivo aumentó al 15,5%, un incremento de 150 puntos básicos
- El valor contable GAAP por acción subió un 5% a 23,45 dólares
- El valor contable tangible no GAAP por acción aumentó un 8,3% a 21,15 dólares
La empresa monetizó su cartera de regalías en funcionamiento por aproximadamente 51,3 millones de dólares y planea declarar un dividendo al cierre de la transacción final. Las mejoras en la cartera incluyen conclusiones exitosas de reestructuración y nuevos acuerdos de financiamiento, incluyendo un compromiso de 15 millones de dólares con Impedimed y una línea de crédito ampliada de 30 millones de dólares con Eton.
SWK Holdings (NASDAQ:SWKH)는 2024년 4분기 강력한 재무 결과를 보고했으며, GAAP 순이익은 590만 달러(희석주당 0.48달러)에 달해 2023년 4분기의 280만 달러에서 증가했습니다. 총 수익은 25% 증가하여 1240만 달러에 달했습니다.
주요 재무 지표는 다음과 같습니다:
- 금융 채권 부문 수익은 11.6% 증가하여 1030만 달러
- 순 금융 채권은 2억 7780만 달러로, 전년 대비 1.2% 증가
- 효율적인 수익률은 15.5%로 증가하여 150 베이시스 포인트 상승
- 주당 GAAP 장부 가치는 5% 상승하여 23.45달러
- 주당 비-GAAP 유형 금융 장부 가치는 8.3% 증가하여 21.15달러
회사는 약 5130만 달러에 성과가 있는 로열티 포트폴리오를 현금화했으며, 최종 거래가 종료될 때 배당금을 선언할 계획입니다. 포트폴리오 개선 사항에는 성공적인 워크아웃 완료 및 새로운 금융 계약이 포함되며, 여기에는 Impedimed와의 1500만 달러 약정 및 Eton과의 3000만 달러 신용 한도가 포함됩니다.
SWK Holdings (NASDAQ:SWKH) a annoncé de solides résultats financiers pour le quatrième trimestre 2024, avec un bénéfice net GAAP atteignant 5,9 millions de dollars (0,48 dollar par action diluée), en hausse par rapport à 2,8 millions de dollars au quatrième trimestre 2023. Le chiffre d'affaires total a augmenté de 25% pour atteindre 12,4 millions de dollars.
Les principaux indicateurs financiers incluent :
- Les revenus du segment des créances financières ont augmenté de 11,6% pour atteindre 10,3 millions de dollars
- Créances financières nettes de 277,8 millions de dollars, en hausse de 1,2% d'une année sur l'autre
- Le rendement effectif a augmenté à 15,5%, soit une hausse de 150 points de base
- La valeur comptable GAAP par action a augmenté de 5% pour atteindre 23,45 dollars
- La valeur comptable tangible non-GAAP par action a augmenté de 8,3% pour atteindre 21,15 dollars
L'entreprise a monétisé son portefeuille de redevances performantes pour environ 51,3 millions de dollars et prévoit de déclarer un dividende à la clôture de la dernière transaction. Les améliorations du portefeuille incluent des conclusions de workout réussies et de nouveaux accords de financement, y compris un engagement de 15 millions de dollars avec Impedimed et une ligne de crédit élargie de 30 millions de dollars avec Eton.
SWK Holdings (NASDAQ:SWKH) hat für das vierte Quartal 2024 starke finanzielle Ergebnisse gemeldet, wobei der GAAP-Nettogewinn 5,9 Millionen Dollar (0,48 Dollar pro verwässerter Aktie) erreichte, ein Anstieg von 2,8 Millionen Dollar im vierten Quartal 2023. Der Gesamtumsatz stieg um 25% auf 12,4 Millionen Dollar.
Wichtige Finanzkennzahlen sind:
- Umsatz im Segment Finanzforderungen stieg um 11,6% auf 10,3 Millionen Dollar
- Netto-Finanzforderungen von 277,8 Millionen Dollar, ein Anstieg von 1,2% im Jahresvergleich
- Effektive Rendite stieg auf 15,5%, ein Anstieg um 150 Basispunkte
- GAAP-Buchwert pro Aktie stieg um 5% auf 23,45 Dollar
- Non-GAAP greifbarer Finanzbuchwert pro Aktie stieg um 8,3% auf 21,15 Dollar
Das Unternehmen hat sein leistungsfähiges Lizenzportfolio für etwa 51,3 Millionen Dollar monetarisiert und plant, eine Dividende nach Abschluss der letzten Transaktion zu erklären. Zu den Verbesserungen im Portfolio gehören erfolgreiche Workout-Abschlüsse und neue Finanzierungsvereinbarungen, einschließlich eines Engagements von 15 Millionen Dollar mit Impedimed und einer erweiterten Kreditlinie von 30 Millionen Dollar mit Eton.
- GAAP net income doubled to $5.9 million in Q4 2024 vs Q4 2023
- Total revenue increased 25% year-over-year to $12.4 million
- Effective yield improved by 150 basis points to 15.5%
- Book value per share increased 5% to $23.45
- Monetization of royalty portfolio for $51.3 million with planned dividend distribution
- Highest loan portfolio risk scoring achieved
- Three finance receivables remain in nonaccrual status worth $13.8 million
- Modest 1.2% growth in net finance receivables year-over-year
Insights
SWK Holdings' Q4 2024 results demonstrate strong financial performance with GAAP net income more than doubling to
Revenue growth was robust at
The company continues to strengthen its balance sheet with GAAP book value per share increasing
SWK's strategic portfolio management is evident in their monetization of the performing royalty portfolio for approximately
The company has also made significant progress in resolving troubled assets, concluding three workouts and eliminating exposure to Biolase, Exeevo, and Trio Healthcare. Meanwhile, SWK continues to expand its loan portfolio with new commitments, including a
This combination of improved financial metrics, successful workouts, new originations, and shareholder return initiatives positions SWK for continued growth in its specialty finance niche focusing on life science companies.
Conference Call Scheduled for Thursday, March 20, 2025, at 09:00 a.m. CST
Corporate Highlights
Fourth quarter 2024 GAAP net income was
$5.9 million , compared with GAAP net income of$2.8 million for the fourth quarter 2023.Fourth quarter 2024 finance receivables segment adjusted non-GAAP net income was
$6.2 million , compared with adjusted non-GAAP net income of$3.7 million for the fourth quarter 2023.As of December 31, 2024, net finance receivables were
$277.8 million , a1.2% increase from December 31, 2023.The fourth quarter 2024 effective yield was
15.5% , a 150 basis points increase from fourth quarter 2023.As of December 31, 2024, GAAP book value per share was
$23.45 , a5.0% increase from$22.33 on December 31, 2023.As of December 31, 2024, non-GAAP tangible financing book value per share was
$21.15 , an8.3% increase from$19.53 as of December 31, 2023.In March 2025, through two transactions SWK monetized its performing royalty portfolio for approximately
$51.3 million and anticipates declaring a dividend on the closing of the larger transaction.
DALLAS, TX / ACCESS Newswire / March 19, 2025 / SWK Holdings Corporation (NASDAQ:SWKH) ("SWK" or the "Company"), a life science-focused specialty finance company catering to small- and mid-sized commercial-stage companies, today provided a business update and announced its financial and operating results for the fourth quarter ended December 31, 2024.
"For the fourth quarter 2024, SWK's core Finance Receivables segment reported an
SWK CEO Jody Staggs said "During the fourth quarter, we closed an up to
Mr. Staggs added, "Improved operating results and capital raises at multiple borrowers combined with the conclusion of three workouts has led to our highest loan portfolio risk scoring since we have tracked the metric. The strength of our loan portfolio coupled with the monetization of our performing royalty portfolio at a slight premium to book value underpin the
Fourth Quarter 2024 Financial Results
For the fourth quarter 2024, SWK reported total revenue of
Income before income tax expense for the quarter was
GAAP net income for the quarter ended December 31, 2024, increased to
For the fourth quarter 2024, non-GAAP adjusted net income was
Total investment assets (defined as finance receivables, marketable investments, and warrant assets less the allowance for credit losses) were
GAAP book value per share was
Portfolio Status
During the fourth quarter, SWK closed a term loan with Triple Ring totaling
During the fourth quarter, Veru made a
During the fourth quarter, SWK received a
The fourth quarter 2024 effective yield was
As of December 31, 2024, the Company had three finance receivables in nonaccrual status: (1) the Flowonix Medical, Inc. ("Flowonix") royalty, with a carrying value of
As of December 31, 2024, the Company had
Total portfolio investment activity for the three months ended December 31, 2024, and 2023 was as follows (in thousands):

Adjusted Non-GAAP Net Income
The following table provides a reconciliation of SWK's reported (GAAP) consolidated net income to SWK's adjusted consolidated net income (Non-GAAP) for the three-month periods ended December 31, 2024 and 2023. The table eliminates provisions for income taxes, non-cash mark-to-market changes on warrant assets and equity securities, amortization of Enteris intangible assets, and foreign currency transaction gains and losses.

In the table above, management has deducted the following non-cash items: (i) change in the fair-market value of equities and warrants, as mark-to-market changes are non-cash, (ii) income taxes, as the Company has substantial net operating losses to offset against future income, (iii) amortization expense associated with Enteris intangible assets, (iv) (gain) loss on remeasurement of contingent consideration, (v) goodwill impairment, and (vi) foreign currency (gains) losses.
Finance Receivables Adjusted Non-GAAP Net Income
The following table provides a reconciliation of SWK's consolidated adjusted income before provision for income tax expense, listed in the table above, to the non-GAAP adjusted net income for the Finance Receivable segment for the three-month periods ended December 31, 2024 and 2023. The table eliminates Enteris operating loss. The adjusted income before income tax expense is derived in the table above and eliminates income tax expense, non-cash mark-to-market changes on equity securities, amortization of Enteris intangible assets, foreign currency transaction (gains) losses and any non-cash impact on the remeasurement of contingent consideration.

Non-GAAP Tangible Finance Book Value Per Share
The following table provides a reconciliation of SWK's GAAP book value per share to its non-GAAP tangible finance book value per share as of December 31, 2024 and 2023. The table eliminates the deferred tax assets, intangible assets, goodwill, Enteris property and equipment and acquisition-related contingent consideration (in thousands, except per share data):

Non-GAAP Financial Measures
This release includes non-GAAP adjusted net income, non-GAAP finance receivable segment net income, and non-GAAP tangible financing book value per share, which are metrics that are not compliant with generally accepted accounting principles in the United States (GAAP).
Non-GAAP adjusted net income is adjusted for certain items (including (i) changes in the fair-market value of public equity-related assets and SWK's warrant assets as mark-to-market changes are non-cash, (ii) income taxes as the Company has substantial net operating losses to offset against future income, (iii) changes in the fair-market value of contingent consideration associated with the Enteris acquisition as these changes are non-cash, and (iv) depreciation and amortization expenses, primarily associated with the Enteris acquisition.
In addition to the adjustments noted above, non-GAAP finance receivable segment net income also excludes Enteris operating losses.
Non-GAAP tangible financing book value per share excludes the deferred tax asset, intangible assets, goodwill, Enteris PP&E, and contingent consideration associated with the Enteris transaction.
These non-GAAP measures may not be directly comparable to similar measures used by other companies in the Company's industry, as other companies may define such measures differently. Management believes that these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends and provides useful additional information relating to our operations and financial condition. The Company encourages investors to carefully consider its results under GAAP, as well as its supplemental non-GAAP information and the reconciliation between these presentations, to better understand its business. Non-GAAP financial results are reported in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Further, non-GAAP financial measures, even if similarly titled, may not be calculated in the same manner by all companies, and therefore should not be compared.
Conference Call Information
SWK Holdings will host a conference call on March 20, 2025, at 9:00 a.m. CST, to discuss its corporate and financial results for the fourth quarter 2024.
Interested participants and investors may access the call via the numbers below:
888-506-0062 (U.S.)
973-528-0011 (International)
The participant Access Code is 698628 or ask for the SWK Holdings call
An archive of the webcast will remain available on the SWK Holdings' website for 12 months, starting later that day. https://investors.swkhold.com/events
About SWK Holdings Corporation
SWK Holdings Corporation is a life science focused specialty finance company partnering with small- and mid-sized commercial-stage healthcare companies. SWK provides non-dilutive financing to fuel the development and commercialization of lifesaving and life-enhancing medical technologies and products. SWK's unique financing structures provide flexible financing solutions at an attractive cost of capital to create long-term value for all SWK stakeholders. SWK's solutions include structured debt, traditional royalty monetization, synthetic royalty transactions, and asset purchases typically ranging in size from
Safe Harbor For Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as "believes," "expects," "anticipates," "intends," "estimates," "plan," "will," "may," "look forward," "intend," "guidance," "future" or similar expressions are forward-looking statements. Because these statements reflect SWK's current views, expectations and beliefs concerning future events, these forward-looking statements involve risks and uncertainties. Investors should note that many factors, as more fully described under the caption "Risk Factors" and elsewhere in SWK's Form 10-K, Form 10-Q and Form 8-K filings with the Securities and Exchange Commission and as otherwise enumerated herein, could affect the Company's future financial results and could cause actual results to differ materially from those expressed in such forward-looking statements. The forward-looking statements in this press release are qualified by these risk factors. These are factors that, individually or in the aggregate, could cause the Company's actual results to differ materially from expected and historical results. You should not place undue reliance on any forward-looking statements, which speak only as of the date they are made. We assume no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.
For more information, please contact:
Investor Relations and Media
Susan Xu
728-323-0959
investorrelations@swkhold.com



SOURCE: SWK Holdings Corp.
View the original press release on ACCESS Newswire