SWKH
SWK Holdings Corporation17.26
+0.00+0%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
209.66MP/E (TTM)
9.33Basic EPS (TTM)
1.85Dividend Yield
0%Recent Filings
8-K
8-K
8-K
Strong Q3 earnings, merger announced
SWK Holdings Corporation posted Q3 2025 GAAP net income of $8.8 million, up from $3.5 million a year ago, fueled by $10.9 million in revenue and a 16.9% effective yield on its $245.4 million finance receivables portfolio. The company sold most MOD3 Pharma assets and repurchased 88,000 shares for $1.3 million, boosting non-GAAP tangible book value 12.4% year-over-year after a special dividend. It entered a merger agreement with Runway Growth Finance Corp. on October 9, 2025, eyeing closure in late Q4 or Q1 2026. Nonaccrual loans persist, signaling portfolio risks.
10-Q
Q3 FY2025 results
SWK Holdings posted solid Q3 results, with revenues climbing 4% year-over-year to $10.9 million, driven by a 14% jump in finance receivable interest income to $10.8 million, while pharmaceutical development revenue dropped to zero after the MOD3 asset sale. Operating income surged 64% to $6.7 million, fueled by a $2.3 million swing to a credit loss benefit and $1.6 million gain from the July 2025 MOD3 sale to Aptar for $6.9 million in cash, including prior option fees. Diluted EPS held steady at $0.72 despite no dilutive securities, aligning with 12,117,000 weighted shares. Cash swelled to $10.2 million, bolstered by $17.0 million in operating cash flow, with the $60 million revolver fully available and $32.0 million in 9% senior notes due 2027. Yet merger talks with Runway Growth Finance, announced October 9, 2025, introduce integration uncertainties.
8-K
Runway to acquire SWK Holdings
Runway Growth Finance Corp. announced a definitive merger agreement on October 9, 2025, to acquire SWK Holdings Corporation in a NAV-for-NAV deal valued at approximately $220 million, blending $75.5 million in Runway shares and $145 million in cash, plus $9 million from its adviser. The merger expands Runway's healthcare and life sciences exposure to 31% of its portfolio from 14%, scaling total assets to $1.3 billion pro forma while diversifying with SWK's 22-company, $242 million fair value portfolio. It promises mid-single-digit NII accretion post-close in late 2025 or Q1 2026. Deal risks hinge on shareholder and regulatory approvals.
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