10-Q Filing

SWK Holdings Corp CIK: 1089907 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001552781-17-000313`
Period End Date	20170331
Filing Date	20170510
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	swkh-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 38 Cash Flow Statement 58 Comprehensive Income 12

Balance Sheet 61 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
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$47.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$40.51M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$32.18M	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, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$1.14M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$1.05M	USD	Point-in-time
Finance receivables, net	`NotesAndLoansReceivableNetCurrent`	$126.37M	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Finance receivables, net	`NotesAndLoansReceivableNetCurrent`	$130.82M	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Marketable investments	`MarketableSecurities`	$4.32M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Marketable investments	`MarketableSecurities`	$2.62M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Investment in unconsolidated entities	`EquityMethodInvestments`	-	USD	Point-in-time
Investment in unconsolidated entities	`EquityMethodInvestments`	$6.99M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNet`	$38.47M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	13.15M	shares	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNet`	$34.77M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	13.14M	shares	Point-in-time
Warrant assets	`WarrantAssets`	$539.00K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	13.15M	shares	Point-in-time
Warrant assets	`WarrantAssets`	$1.01M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	13.14M	shares	Point-in-time
Other assets	`PrepaidExpenseAndOtherAssets`	$258.00K	USD	Point-in-time
Other assets	`PrepaidExpenseAndOtherAssets`	$240.00K	USD	Point-in-time
Total assets	`Assets`	$208.93M	USD	Point-in-time
Total assets	`Assets`	$212.36M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$730.00K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$682.00K	USD	Point-in-time
Warrant liability	`WarrantsAndRightsOutstanding`	$189.00K	USD	Point-in-time
Warrant liability	`WarrantsAndRightsOutstanding`	$187.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$917.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$871.00K	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; 250,000,000 shares authorized; 13,150,220 and 13,144,292 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$13.00K	USD	Point-in-time
Common stock, $0.001 par value; 250,000,000 shares authorized; 13,150,220 and 13,144,292 shares issued and outstanding at March 31, 2017 and December 31, 2016, 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`	$-4.22B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.23B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.73M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-87.00K	USD	Point-in-time
Total SWK Holdings Corporation stockholders' equity	`StockholdersEquity`	$211.44M	USD	Point-in-time
Total SWK Holdings Corporation stockholders' equity	`StockholdersEquity`	$204.31M	USD	Point-in-time
Non-controlling interests in consolidated entities	`MinorityInterest`	-	USD	Point-in-time
Non-controlling interests in consolidated entities	`MinorityInterest`	$3.76M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$208.06M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$211.44M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$208.93M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$212.36M	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`	$4.66M	USD	1 Quarter
Marketable investments interest income	`InvestmentIncomeInterest`	$92.00K	USD	1 Quarter
Marketable investments interest income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Income related to investments in unconsolidated entities	`IncomeLossFromEquityMethodInvestments`	$10.20M	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`	$4.00K	USD	1 Quarter
Total revenues	`Revenues`	$14.86M	USD	1 Quarter
Total revenues	`Revenues`	$5.24M	USD	1 Quarter
Impairment expense	`OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossTaxIncludingPortionAttributableToNoncontrollingInterestAvailableforsaleSecurities`	-	USD	1 Quarter
Impairment expense	`OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossTaxIncludingPortionAttributableToNoncontrollingInterestAvailableforsaleSecurities`	$-339.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$661.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$929.00K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$1.27M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$661.00K	USD	1 Quarter
Unrealized net loss on derivatives	`UnrealizedGainLossOnDerivatives`	$-30.00K	USD	1 Quarter
Unrealized net loss on derivatives	`UnrealizedGainLossOnDerivatives`	$-472.00K	USD	1 Quarter
Gain on sale of marketable securities	`MarketableSecuritiesGainLoss`	$243.00K	USD	1 Quarter
Gain on sale of marketable securities	`MarketableSecuritiesGainLoss`	-	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.94M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$13.97M	USD	1 Quarter
Provision for income taxes	`DeferredIncomeTaxExpenseBenefit`	$3.71M	USD	1 Quarter
Provision for income taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$3.94M	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$10.27M	USD	1 Quarter
Net income attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$5.03M	USD	1 Quarter
Net income attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$842.00K	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`	$5.24M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.24	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.40	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.40	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.24	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.14M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.12M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.13M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.15M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Consolidated net income (loss)	`ProfitLoss`	$3.94M	USD	1 Quarter
Consolidated net income (loss)	`ProfitLoss`	$10.27M	USD	1 Quarter
Income from investment in unconsolidated entity	`IncomeLossFromEquityMethodInvestments`	$10.20M	USD	1 Quarter
Income from investment in unconsolidated entity	`IncomeLossFromEquityMethodInvestments`	$1.66M	USD	1 Quarter
Impairment expense	`OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossTaxIncludingPortionAttributableToNoncontrollingInterestAvailableforsaleSecurities`	-	USD	1 Quarter
Impairment expense	`OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossTaxIncludingPortionAttributableToNoncontrollingInterestAvailableforsaleSecurities`	$-339.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$3.71M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$472.00K	USD	1 Quarter
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$30.00K	USD	1 Quarter
Gain on sale of marketable securities	`MarketableSecuritiesGainLoss`	$243.00K	USD	1 Quarter
Gain on sale of marketable securities	`MarketableSecuritiesGainLoss`	-	USD	1 Quarter
Loan discount amortization and fee accretion	`AmortizationOfDeferredLoanOriginationFeesNet`	$568.00K	USD	1 Quarter
Loan discount amortization and fee accretion	`AmortizationOfDeferredLoanOriginationFeesNet`	$908.00K	USD	1 Quarter
Interest paid-in-kind	`PaidInKindInterest`	-	USD	1 Quarter
Interest paid-in-kind	`PaidInKindInterest`	$383.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$78.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$106.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$3.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$4.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$145.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$88.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$112.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-327.00K	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$48.00K	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$298.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.98M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.33M	USD	1 Quarter
Cash distributions from investment in unconsolidated entity	`EquityMethodInvestmentDividendsOrDistributions`	$1.91M	USD	1 Quarter
Cash distributions from investment in unconsolidated entity	`EquityMethodInvestmentDividendsOrDistributions`	$17.19M	USD	1 Quarter
Proceeds from sale of available-for-sale marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$345.00K	USD	1 Quarter
Proceeds from sale of available-for-sale marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	1 Quarter
Investment in finance receivables	`PaymentsToAcquireFinanceReceivables`	$3.64M	USD	1 Quarter
Investment in finance receivables	`PaymentsToAcquireFinanceReceivables`	$3.54M	USD	1 Quarter
Repayment of finance receivables	`ProceedsRepaymentOfFinanceReceivables`	$225.00K	USD	1 Quarter
Repayment of finance receivables	`ProceedsRepaymentOfFinanceReceivables`	$14.18M	USD	1 Quarter
Marketable investment principal payment	`MarketableInvestmentPrincipalPayment`	-	USD	1 Quarter
Marketable investment principal payment	`MarketableInvestmentPrincipalPayment`	$24.00K	USD	1 Quarter
Purchases of property plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.00K	USD	1 Quarter
Purchases of property plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$14.14M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$12.55M	USD	1 Quarter
Distribution to non-controlling interests	`PaymentsToMinorityShareholders`	$8.79M	USD	1 Quarter
Distribution to non-controlling interests	`PaymentsToMinorityShareholders`	$977.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.79M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-977.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.33M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$13.91M	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`	$40.51M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$32.18M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$61.19M	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`	$40.51M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$32.18M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$61.19M	USD	Point-in-time
Common stock received in connection with amendment of finance receivable	`CommonStockReceivedInConnectionWithAmendmentOfFinanceReceivable`	$150.00K	USD	1 Quarter
Common stock received in connection with amendment of finance receivable	`CommonStockReceivedInConnectionWithAmendmentOfFinanceReceivable`	-	USD	1 Quarter

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Consolidated net income (loss)	`ProfitLoss`	$3.94M	USD	1 Quarter
Consolidated net income (loss)	`ProfitLoss`	$10.27M	USD	1 Quarter
Change in fair value of securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$14.00K	USD	1 Quarter
Change in fair value of securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$1.82M	USD	1 Quarter
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$1.82M	USD	1 Quarter
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$14.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$12.09M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.95M	USD	1 Quarter
Comprehensive income attributable to non-controlling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$5.03M	USD	1 Quarter
Comprehensive income attributable to non-controlling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$842.00K	USD	1 Quarter
Comprehensive income (loss) attributable to SWK Holdings Corporation Stockholders	`ComprehensiveIncomeNetOfTax`	$3.11M	USD	1 Quarter
Comprehensive income (loss) attributable to SWK Holdings Corporation Stockholders	`ComprehensiveIncomeNetOfTax`	$7.06M	USD	1 Quarter

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