SWK Holdings Reports Third Quarter 2024 Financial Results

SWK Holdings Corporation announced its third quarter 2024 financial results, noting a decrease in GAAP net income to $3.5 million from $4.5 million in the same quarter of 2023. Non-GAAP adjusted net income for its finance receivables segment also declined to $5.0 million from $5.8 million. However, net finance receivables rose by 14.4% to $255.9 million as of September 30, 2024, compared to September 2023. The effective yield increased by 60 basis points to 14.6%.

The company's total revenue for the quarter amounted to $10.4 million, reflecting a 15.6% increase year-over-year. Pre-tax GAAP net income reached $5.2 million, while adjusted non-GAAP net income stood at $5.0 million. The firm reported a significant up to $11.0 million royalty financing with Relief Therapeutics and additional capital to Eton Pharmaceuticals.

GAAP book value per share increased to $22.94, and the non-GAAP tangible financing book value per share was $20.42. SWK also repurchased around 340,000 shares at a total cost of $5.8 million, as of November 8, 2024, which is expected to strengthen their position in 2025.