SWK Holdings Corporation Announces Financial Results for Fourth Quarter 2024

In This Article:

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, a 1.2% 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, a 5.0% increase from $22.33 on December 31, 2023.

  • As of December 31, 2024, non-GAAP tangible financing book value per share was $21.15, an 8.3% 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 11.6% increase in revenue to $10.3 million compared to the same period in the prior year. SWK's finance segment generated $8.2 million of pre-tax GAAP net income and $6.2 million of adjusted non-GAAP net income.

SWK CEO Jody Staggs said "During the fourth quarter, we closed an up to $8.0 million term loan with Triple Ring and expanded our credit facility with Eton to $30.0 million. In February 2025, we closed a $15.0 million financing commitment with Impedimed.

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 $21.15 of non-GAAP tangible financing book value per share, which excludes any value from our Enteris subsidiary. During the fourth quarter and year-to-date we have returned value to shareholders through our ongoing stock buyback program and anticipate declaring a dividend upon the closing of the final royalty monetization transaction, which is expected over the next two weeks"