SWK Holdings Corp Files Q3 2024 10-Q

TL;DR

SWK Holdings Q3 2024 10-Q is in! Check financials.

AI Summary

SWK Holdings Corp filed its 10-Q for the period ending September 30, 2024. The company, based in Dallas, TX, operates in the miscellaneous business credit institution sector. Key financial data and operational details for the third quarter of 2024 are presented in this filing.

Why It Matters

This filing provides investors with the latest financial performance and operational status of SWK Holdings Corp, crucial for understanding its current business health and future prospects.

Risk Assessment

Risk Level: medium — As a credit institution, SWK Holdings is subject to market and credit risks inherent in its lending and investment activities.

Key Numbers

• 2024-09-30 — Period End Date (Latest financial reporting period)
• 2024-11-14 — Filing Date (Date the report was submitted to the SEC)

Key Players & Entities

• SWK Holdings Corp (company) — Filer
• Dallas, TX (location) — Business Address
• 2024-09-30 (date) — Period of Report
• 2024-11-14 (date) — Filing Date

FAQ

Key Financial Figures

• $0.001 — ch Registered Common Stock, par value $0.001 per share SWKH The Nasdaq Stock Market

Filing Documents

• swkh-20240930.htm (10-Q) — 1518KB
• fourthamendmenttocreditagr.htm (EX-10.01) — 37KB
• exhibit311ceocertification.htm (EX-31.1) — 9KB
• exhibit312cfocertification.htm (EX-31.2) — 10KB
• exhibit321ceocertification.htm (EX-32.1) — 5KB
• exhibit322cfocertification.htm (EX-32.2) — 5KB
• swkh-20240930_g1.jpg (GRAPHIC) — 9KB
• 0001628280-24-047908.txt ( ) — 8386KB
• swkh-20240930.xsd (EX-101.SCH) — 44KB
• swkh-20240930_cal.xml (EX-101.CAL) — 77KB
• swkh-20240930_def.xml (EX-101.DEF) — 231KB
• swkh-20240930_lab.xml (EX-101.LAB) — 492KB
• swkh-20240930_pre.xml (EX-101.PRE) — 383KB
• swkh-20240930_htm.xml (XML) — 1621KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 1 Unaudited Condensed Consolidated Balance Sheets— September 30, 2024 and December 31, 2023 1 Unaudited Condensed Consolidated Statements of Income—Three and Nine Months Ended September 30, 2024 and 2023 2 Unaudited Condensed Consolidated Statements of Stockholders' Equity—Three and Nine Months Ended Septem ber 30, 2024 and 2023 3 Unaudited Condensed Consolidated Statements of Cash Flows— Nine Months Ended September 30, 2024 and 2023 5 Notes to the Unaudited Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36 Item 4

Controls and Procedures

Controls and Procedures 36

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 37 Item 1A.

Unregistered Sales of Equity Securities and Use of Proceeds. 37

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 37 Item 3. Defaults Upon Senior Securities 37 Item 4. Mine Safety Disclosures 37 Item 5. Other Information 37 Item 6. Exhibits 39

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS In addition to historical information, this report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. From time to time, we may also provide oral or written forward-looking statements in other materials we release to the public. Such forward-looking statements are subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. The forward-looking statements are not historical facts but rather are based on current expectations, estimates and projections about our business and industry, and our beliefs and assumptions, and include, but are not limited to, statements under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations." Words such as "anticipate," "believe," "could," "estimate," "expects," "intend," "may," "plan," "should," "will" and variations of these words and similar expressions identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, many of which are beyond our control, are difficult to predict and could cause actual results to differ materially (both favorably and unfavorably) from those expressed or forecasted in the forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A, "Risk Factors," those described in Item 1A. "Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2023, and elsewhere in this report. Forward-looking statements that were believed to be true at the time made may ultimately prove to be incorrect or false. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS SWK HOLDINGS CORPORATION UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except par value and share data) September 30, 2024 December 31, 2023 Assets: Current assets: Cash and cash equivalents $ 17,178 $ 4,503 Restricted cash — 733 Interest, accounts receivable and other receivables, net 6,420 4,729 Other current assets 1,610 1,904 Total current assets 25,208 11,869 Finance receivables, net of allowance for credit losses of $ 14,343 and $ 13,901 as of September 30, 2024 and December 31, 2023, respectively 255,904 274,504 Collateral on foreign currency forward contract 2,750 2,750 Marketable investments 755 48 Deferred tax assets, net 26,190 28,290 Warrant assets 2,026 1,759 Intangible assets, net 220 6,487 Property and equipment, net 4,816 5,438 Other non-current assets 3,410 3,109 Total assets $ 321,279 $ 334,254 Liabilities and Stockholders' Equity: Current liabilities: Accounts payable and accrued liabilities $ 2,874 $ 3,935 Deferred income 2,109 9 Total current liabilities 4,983 3,944 Contingent consideration payable — 4,900 Unsecured senior notes, net 31,243 30,781 Revolving credit facility — 12,350 Other non-current liabilities 1,622 1,964 Total liabilities 37,848 53,939 Commitments and contingencies (Note 6) Stockholders' equity: Preferred stock, $ 0.001 par value; 5,000,000 shares authorized; no shares issued and outstanding — — Common stock, $ 0.001 par value; 250,000,000 shares authorized; 12,263,982 and 12,497,770 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 12 12 Additional paid-in capital 4,420,604 4,425,104 Accumulated deficit ( 4,137,185 ) ( 4,144,801 ) Total stockholders' equity 283,431 280,315 Total liabilities and stockholders' equity $ 321,279 $ 334,254 See accompanying notes to the unaudited condensed consolidated financial statements. 1 SWK HOLDINGS CORPORATION UNAUDITED CONDENSED CONSOLIDATED STATEMENTS

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View this 10-Q filing on SEC EDGAR