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Visual21 Nov 2025
Data center suppliers
SWK Holdings (SWKH) investor relations material
SWK Holdings Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Entered into a merger agreement with Runway Growth Finance Corp. in October 2025, expected to close late Q4 2025 or Q1 2026, with a key stockholder supporting the transaction holding 69.9% voting power.
Completed the sale of the MOD3 Pharma (Pharmaceutical Development segment) assets to Aptar in July 2025, resulting in a $1.6 million net gain.
Post-sale, the company will focus solely on its Finance Receivables segment.
Repurchased 87,927 shares in Q3 2025 for $1.3 million, with year-to-date repurchases totaling 199,218 shares for $3.1 million through October 28, 2025.
Special cash dividend of $4.00 per share declared in Q2 2025 following the sale of a royalty portfolio.
Financial highlights
Net income for Q3 2025 was $8.8 million, up from $3.5 million in Q3 2024; nine-month net income was $16.9 million, up from $7.6 million year-over-year.
Q3 2025 revenues were $10.9 million, a 4.8% increase year-over-year; nine-month revenues were $32.8 million, up $0.2 million.
Net benefit for credit losses of $0.9 million in Q3 2025 and $1.6 million for the nine months, compared to provisions of $1.4 million and $10.8 million in 2024.
Cash and cash equivalents increased to $10.2 million as of September 30, 2025, from $5.9 million at year-end 2024.
Net finance receivables as of September 30, 2025, were $245.4 million, down 4.1% from a year earlier.
Outlook and guidance
Finance Receivables segment expected to be the sole operating segment going forward.
Portfolio of $245.4 million in net finance receivables and $0.3 million in marketable investments expected to generate positive cash flows for the remainder of 2025.
Merger with Runway Growth Finance Corp. anticipated to close by late Q4 2025 or Q1 2026.
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Next SWK Holdings earnings date
Q4 202519 Mar, 2026
Next SWK Holdings earnings date
Q4 202519 Mar, 2026
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Frequently asked questions
At the Intersection of Finance and Healthcare
SWK Holdings Corporation is an American finance company that primarily operates within the healthcare sector, with a focus on life sciences and pharmaceuticals. Given the capital-intensive nature of healthcare innovations, SWK Holdings provides financial support and investments to initiatives in the sector. The company offers customized financing solutions tailored to support companies in various stages of research, development, and commercialization.
Texas Made
SWK Holdings was founded in 1996 and is headquartered in Dallas, Texas. The company operates in two different segments: Life Science Specialty Finance and Enteris BioPharma, which are both centered on SWK’s core focus on monetizing revenue streams and intellectual property within the life sciences sector. The company's approach is centered on understanding the specific needs of healthcare and biotech enterprises, offering financial structures that facilitate growth and advancement. Given the complex nature of the industry, having the right expertise and experience is absolutely paramount to achieving the best possible results. Some companies that SWK has worked closely with include Aziyo, Biolase, and Eton Pharmaceuticals.
Life Science Specialty Finance
Recognizing the unique financial challenges companies in life sciences face, particularly when it comes to drug development and medical innovation, SWK provides tailored financing solutions. These are designed to address the capital-intensive nature of research, clinical trials, and product commercialization. Through its specialty finance operations, SWK extends secured loans to smaller life science companies, bridging funding gaps and ensuring the continuity of research. In return, SWK typically benefits from interest and fees, as well as royalties from successfully commercialized products.
Enteris BioPharma
Enteris BioPharma, a subsidiary of SWK Holdings, is a biotechnology company specializing in developing innovative drug delivery solutions. One of its core technologies is the Peptelligence™ platform, which enables oral delivery of molecules that are traditionally administered through injections.
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