10-Q Filing

SWK Holdings Corp CIK: 1089907 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001552781-16-001653`
Period End Date	20160331
Filing Date	20160513
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	swkhob-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 38 Cash Flow Statement 58 Comprehensive Income 12

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$47.29M	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$61.19M	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$58.73M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$59.49M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$1.13M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$1.27M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Finance receivables	`NotesAndLoansReceivableNetCurrent`	$89.45M	USD	Point-in-time
Finance receivables	`NotesAndLoansReceivableNetCurrent`	$99.35M	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Marketable investments	`MarketableSecurities`	$5.29M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Marketable investments	`MarketableSecurities`	$5.11M	USD	Point-in-time
Investment in unconsolidated entities	`EquityMethodInvestments`	$7.74M	USD	Point-in-time
Investment in unconsolidated entities	`EquityMethodInvestments`	$7.99M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	13.12M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	13.13M	shares	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNet`	$16.83M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNet`	$16.83M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	13.12M	shares	Point-in-time
Warrant assets	`WarrantAssets`	$1.79M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	13.13M	shares	Point-in-time
Warrant assets	`WarrantAssets`	$1.90M	USD	Point-in-time
Other assets	`PrepaidExpenseAndOtherAssets`	$394.00K	USD	Point-in-time
Other assets	`PrepaidExpenseAndOtherAssets`	$720.00K	USD	Point-in-time
Total assets	`Assets`	$180.49M	USD	Point-in-time
Total assets	`Assets`	$183.78M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.09M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$788.00K	USD	Point-in-time
Warrant liability	`WarrantsAndRightsOutstanding`	$178.00K	USD	Point-in-time
Warrant liability	`WarrantsAndRightsOutstanding`	$259.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.26M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 25,000,000 shares authorized; 13,115,909, and 13,090,932 shares issued and outstanding at December 31, 2015 and 2014, respectively	`CommonStockValue`	$13.00K	USD	Point-in-time
Common stock, $0.001 par value; 25,000,000 shares authorized; 13,115,909, and 13,090,932 shares issued and outstanding at December 31, 2015 and 2014, respectively	`CommonStockValue`	$13.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.43B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.43B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.25B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.26B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$14.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Total SWK Holdings Corporation stockholders' equity	`StockholdersEquity`	$175.14M	USD	Point-in-time
Total SWK Holdings Corporation stockholders' equity	`StockholdersEquity`	$178.36M	USD	Point-in-time
Non-controlling interests in consolidated entities	`MinorityInterest`	$4.30M	USD	Point-in-time
Non-controlling interests in consolidated entities	`MinorityInterest`	$4.16M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$179.44M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$182.52M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$183.78M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$180.49M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Finance receivable interest income, including fees	`InterestAndFeeIncomeLoansAndLeases`	$3.47M	USD	1 Quarter
Finance receivable interest income, including fees	`InterestAndFeeIncomeLoansAndLeases`	$4.14M	USD	1 Quarter
Marketable investments interest income	`InvestmentIncomeInterest`	$92.00K	USD	1 Quarter
Marketable investments interest income	`InvestmentIncomeInterest`	$90.00K	USD	1 Quarter
Income related to investments in unconsolidated entities	`IncomeLossFromEquityMethodInvestments`	$1.55M	USD	1 Quarter
Income related to investments in unconsolidated entities	`IncomeLossFromEquityMethodInvestments`	$1.66M	USD	1 Quarter
Other	`OtherSalesRevenueNet`	$15.00K	USD	1 Quarter
Other	`OtherSalesRevenueNet`	$15.00K	USD	1 Quarter
Total Revenues	`Revenues`	$5.80M	USD	1 Quarter
Total Revenues	`Revenues`	$5.24M	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$381.00K	USD	1 Quarter
Security impairment expense	`OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossTaxIncludingPortionAttributableToNoncontrollingInterestAvailableforsaleSecurities`	-	USD	1 Quarter
Security impairment expense	`OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossTaxIncludingPortionAttributableToNoncontrollingInterestAvailableforsaleSecurities`	$-339.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.22M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$929.00K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$1.60M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$1.27M	USD	1 Quarter
Unrealized net (loss) gain on derivatives	`UnrealizedGainLossOnDerivatives`	$-30.00K	USD	1 Quarter
Unrealized net (loss) gain on derivatives	`UnrealizedGainLossOnDerivatives`	$371.00K	USD	1 Quarter
Income before benefit from income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.94M	USD	1 Quarter
Income before benefit from income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.57M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.51M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$3.07M	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$3.94M	USD	1 Quarter
Net income attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$842.00K	USD	1 Quarter
Net income attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$811.00K	USD	1 Quarter
Net income attributable to SWK Holdings Corporation Stockholders	`NetIncomeLoss`	$3.10M	USD	1 Quarter
Net income attributable to SWK Holdings Corporation Stockholders	`NetIncomeLoss`	$2.26M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.24	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.17	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.24	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13,117.00	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12,996.00	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13,132.00	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13,004.00	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Consolidated net income	`ProfitLoss`	$3.07M	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$3.94M	USD	1 Quarter
Income from investments in unconsolidated entities	`IncomeLossFromEquityMethodInvestments`	$1.55M	USD	1 Quarter
Income from investments in unconsolidated entities	`IncomeLossFromEquityMethodInvestments`	$1.66M	USD	1 Quarter
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$-371.00K	USD	1 Quarter
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$30.00K	USD	1 Quarter
Security impairment expense	`OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossTaxIncludingPortionAttributableToNoncontrollingInterestAvailableforsaleSecurities`	-	USD	1 Quarter
Security impairment expense	`OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossTaxIncludingPortionAttributableToNoncontrollingInterestAvailableforsaleSecurities`	$-339.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$1.51M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	-	USD	1 Quarter
Loan discount amortization and fee accretion	`AmortizationOfDeferredLoanOriginationFeesNet`	$344.00K	USD	1 Quarter
Loan discount amortization and fee accretion	`AmortizationOfDeferredLoanOriginationFeesNet`	$908.00K	USD	1 Quarter
Interest income in excess of cash collected	`PaidInKindInterest`	$-33.00K	USD	1 Quarter
Interest income in excess of cash collected	`PaidInKindInterest`	-	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$197.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$106.00K	USD	1 Quarter
Debt issuance cost amortization	`AmortizationOfFinancingCosts`	$381.00K	USD	1 Quarter
Debt issuance cost amortization	`AmortizationOfFinancingCosts`	-	USD	1 Quarter
Property and equipment depreciation	`DepreciationAndAmortization`	$1.00K	USD	1 Quarter
Property and equipment depreciation	`DepreciationAndAmortization`	$3.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$145.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$86.00K	USD	1 Quarter
Other Assets	`IncreaseDecreaseInOtherOperatingAssets`	$87.00K	USD	1 Quarter
Other Assets	`IncreaseDecreaseInOtherOperatingAssets`	$-327.00K	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$298.00K	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$681.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.36M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.33M	USD	1 Quarter
Cash distributions from investments in unconsolidated entities	`EquityMethodInvestmentDividendsOrDistributions`	$1.85M	USD	1 Quarter
Cash distributions from investments in unconsolidated entities	`EquityMethodInvestmentDividendsOrDistributions`	$1.91M	USD	1 Quarter
Net decrease (increase) in finance receivables	`IncreaseDecreaseInFinanceReceivables`	$3.42M	USD	1 Quarter
Net decrease (increase) in finance receivables	`IncreaseDecreaseInFinanceReceivables`	$-10.65M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$50.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$12.55M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.62M	USD	1 Quarter
Costs of common stock issuance	`PaymentsOfStockIssuanceCosts`	$10.00K	USD	1 Quarter
Costs of common stock issuance	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Distribution to non-controlling interests	`PaymentsToMinorityShareholders`	$977.00K	USD	1 Quarter
Distribution to non-controlling interests	`PaymentsToMinorityShareholders`	$974.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-984.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-977.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$13.91M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$759.00K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$47.29M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$61.19M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$58.73M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$59.49M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$47.29M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$61.19M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$58.73M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$59.49M	USD	Point-in-time
Common stock received in conjunction with finance receivables	`StockReceivedInConnectionWithLoanRepayment`	-	USD	1 Quarter
Common stock received in conjunction with finance receivables	`StockReceivedInConnectionWithLoanRepayment`	$150.00K	USD	1 Quarter
Warrants received in conjunction with finance receivables	`WarrantsReceivedInConjunctionWithPurchaseOfFinancialReceivables`	$191.00K	USD	1 Quarter
Warrants received in conjunction with finance receivables	`WarrantsReceivedInConjunctionWithPurchaseOfFinancialReceivables`	-	USD	1 Quarter
Consideration (rates and preferred stock) received in connection with loan repayment	`ConversionOfStockAmountIssued1`	$8.40M	USD	1 Quarter
Consideration (rates and preferred stock) received in connection with loan repayment	`ConversionOfStockAmountIssued1`	-	USD	1 Quarter

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Consolidated net income	`ProfitLoss`	$3.07M	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$3.94M	USD	1 Quarter
Unrealized holding gains arising during period	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$14.00K	USD	1 Quarter
Unrealized holding gains arising during period	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$14.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.95M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.07M	USD	1 Quarter
Comprehensive income attributable to non-controlling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$842.00K	USD	1 Quarter
Comprehensive income attributable to non-controlling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$811.00K	USD	1 Quarter
Comprehensive income attributable to SWK Holdings Corporation Stockholders	`ComprehensiveIncomeNetOfTax`	$2.26M	USD	1 Quarter
Comprehensive income attributable to SWK Holdings Corporation Stockholders	`ComprehensiveIncomeNetOfTax`	$3.11M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.