SWKH

MKT CAP:$192M

SWK Holdings Corporation

Market Cap

$192M

Financial Services·Asset Management·🇺🇸 United States·NASDAQ

Financials·Asset Management·🇺🇸·NASDAQ

Stock Price

$15.90-$1.24 (-7.23%)

Apr 15, 2026

Company Details

SWK Holdings Corporation, a specialty finance company that focuses on the healthcare sector. It operates in two segments, Finance Receivables and Pharmaceutical Development. The company provides customized financing solutions to a range of ...

CEO

Jody. D Staggs

IPO Date

Sep 23, 1999

Website

www.swkhold.com

Key Metrics TTM

Revenue

$45M

+13.6% YoY

Net Income

$23M

EPS (Diluted)

$1.85

Free Cash Flow

$23M

Revenue / Share

$3.72

Gross Margin

95.3%

Operating Margin

55.3%

Net Margin

50.4%

FCF Margin

51.6%

P/S

4.3x

P/E

8.5x

Earnings Reports

Q4 2025

May 11, 2026

PENDING

FY 2025

Mar 20, 2026

$41M-9.4%EPS -$0.21

Q3 2025

Nov 6, 2025

$11MEPS $0.72

Q2 2025

Aug 14, 2025

$10MEPS $0.29

Q1 2025

May 15, 2025

$12M+4.2%EPS $0.37

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 21	$22M	$21M	$17M
Q3 21	$10M	$7M	$3M
Q4 21	$15M	$13M	$9M
Q1 22	$11M	$9M	$5M
Q2 22	$7M	$5M	$2M
Q3 22	$14M	$12M	$7M
Q4 22	$10M	$8M	-$4M
Q1 23	$9M	$9M	$5M
Q2 23	$9M	$8M	$5M
Q3 23	$9M	$8M	$4M
Q4 23	$10M	$9M	$329.0K
Q1 24	$11M	$11M	$1M
Q4 24	$12M	$12M	$6M
Q1 25	$12M	$11M	$8M
Q2 25	$10M	$9M	$5M
Q3 25	$11M	$11M	$7M

Valuation

Quarter	P/S	P/E
Q2 21	4.2x	8.5x
Q3 21	4.6x	9.9x
Q4 21	4.5x	9.7x
Q1 22	3.9x	8.8x
Q2 22	5.4x	18.2x
Q3 22	4.8x	13.2x
Q4 22	5.8x	17.9x
Q1 23	5.6x	15.1x
Q2 23	5.0x	11.7x
Q3 23	5.3x	12.5x
Q4 23	5.8x	13.7x
Q1 24	5.3x	18.0x
Q4 24	4.6x	14.4x
Q1 25	4.7x	15.7x
Q2 25	4.0x	12.5x
Q3 25	3.9x	7.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 21	$15M	$15M
Q3 21	$4M	$4M
Q4 21	$11M	$11M
Q1 22	$4M	$4M
Q2 22	-$860.0K	-$913.0K
Q3 22	$2M	$2M
Q4 22	$3M	$3M
Q1 23	$664.0K	$656.0K
Q2 23	$5M	$5M
Q3 23	$4M	$4M
Q4 23	$6M	$6M
Q1 24	$4M	$4M
Q4 24	$7M	$7M
Q1 25	$8M	$8M
Q2 25	$8M	$8M
Q3 25	$906.0K	$557.0K

Capital Expenditures

Quarter	CapEx
Q2 21	$350.0K
Q3 21	$206.0K
Q4 21	$201.0K
Q1 22	$58.0K
Q2 22	$53.0K
Q3 22	$83.0K
Q4 22	$103.0K
Q1 23	$8.0K
Q2 23	$183.0K
Q3 23	$108.0K
Q4 23	$197.0K
Q1 24	$0
Q4 24	$88.0K
Q1 25	$100.0K
Q2 25	$63.0K
Q3 25	$349.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 21	+181.7%	-20.3%
Q3 21	-10.2%	+8.5%
Q4 21	+37.3%	+9.9%
Q1 22	+18.8%	-6.6%
Q2 22	-68.8%	-8.1%
Q3 22	+42.4%	-1.1%
Q4 22	-34.5%	+115.3%
Q1 23	-15.5%	-30.0%
Q2 23	+36.8%	-7.3%
Q3 23	-34.2%	-32.4%
Q4 23	+0.9%	-29.8%
Q1 24	+20.7%	+151.4%
Q4 24	+30.2%	+41.7%
Q1 25	+32.0%	-19.8%
Q2 25	+1.6%	-43.3%
Q3 25	-4.2%	-59.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 21	$187.0K	0.8%
Q3 21	$192.0K	2.0%
Q4 21	$607.0K	4.1%
Q1 22	$85.0K	0.8%
Q2 22	$166.0K	2.4%
Q3 22	$59.0K	0.4%
Q4 22	$190.0K	1.9%
Q1 23	$35.0K	0.4%
Q2 23	$164.0K	1.7%
Q3 23	$170.0K	1.9%
Q4 23	$140.0K	1.4%
Q1 24	$111.0K	1.0%
Q4 24	$236.0K	1.9%
Q1 25	$307.0K	2.6%
Q2 25	$301.0K	3.0%
Q3 25	$286.0K	2.6%

OpEx Breakdown

Quarter	R&D	G&A
Q2 21	—	$3M
Q3 21	—	$4M
Q4 21	—	$4M
Q1 22	—	$3M
Q2 22	—	$3M
Q3 22	—	$4M
Q4 22	—	$2M
Q1 23	—	$3M
Q2 23	—	$3M
Q3 23	—	$3M
Q4 23	—	$3M
Q1 24	—	$3M
Q4 24	$568.0K	$3M
Q1 25	$758.0K	$3M
Q2 25	—	$3M
Q3 25	—	$3M

Revenue by Geography

Quarter	International	United States
Q1 22	$3M	$8M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$41M	$1M	$42M
Q2 22	$55M	$487.0K	$56M
Q3 22	$19M	$500.0K	$20M
Q4 22	$6M	$0	$6M
Q1 23	$3M	$0	$3M
Q2 23	$7M	$0	$7M
Q3 23	$31M	$0	$31M
Q4 23	$5M	$0	$5M
Q1 24	$5M	$0	$5M
Q2 24	$6M	$0	$6M
Q3 24	$17M	$0	$17M
Q4 24	$6M	$0	$6M
Q1 25	$30M	$0	$30M
Q2 25	$8M	$0	$8M
Q3 25	$10M	$0	$10M
Q4 25	$43M	$0	$43M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 21	13M	+0.2%	-0.6%
Q3 21	13M	+0.2%	-0.4%
Q4 21	13M	0.0%	+0.4%
Q1 22	13M	+0.2%	+0.6%
Q2 22	13M	-0.0%	+0.4%
Q3 22	13M	-0.3%	-0.1%
Q4 22	13M	+0.5%	+0.4%
Q1 23	13M	-0.3%	-0.1%
Q2 23	13M	-0.7%	-0.8%
Q3 23	13M	-1.6%	-2.1%
Q4 23	12M	-0.7%	-3.2%
Q1 24	13M	+0.3%	-2.6%
Q4 24	12M	-0.7%	-2.6%
Q1 25	12M	-1.7%	-2.7%
Q2 25	12M	-0.3%	-2.3%
Q3 25	12M	-0.7%	-3.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 21	$654.9K	34
Q3 21	$281.2K	34
Q4 21	$427.3K	35
Q1 22	$318.0K	35
Q2 22	$198.3K	35
Q3 22	$389.0K	35
Q4 22	$466.5K	21
Q1 23	$448.1K	21
Q2 23	$452.2K	21
Q3 23	$426.8K	21
Q4 23	$430.0K	23
Q1 24	$493.9K	23
Q4 24	$515.1K	24
Q1 25	$493.0K	24
Q2 25	$418.8K	24
Q3 25	$453.4K	24

Revenue / Employee