10-K Filing

SWK Holdings Corp CIK: 1089907 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001552781-20-000237`
Period End Date	20191231
Filing Date	20200330
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	swkh-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 42 Cash Flow Statement 68 Stockholders Equity 14 Comprehensive Income 6

Balance Sheet 71 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
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.23M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.16M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.56M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$2.19M	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$2.55M	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`	$1.80M	USD	Point-in-time
Marketable investments	`MarketableSecurities`	-	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.09M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$138.00K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	12.93M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$22.56M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	12.92M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$16.60M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	12.92M	shares	Point-in-time
Finance receivables, net	`NotesAndLoansReceivableNetCurrent`	$172.82M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	12.93M	shares	Point-in-time
Finance receivables, net	`NotesAndLoansReceivableNetCurrent`	$166.61M	USD	Point-in-time
Marketable investments	`AvailableForSaleSecuritiesDebtSecurities`	$532.00K	USD	Point-in-time
Marketable investments	`AvailableForSaleSecuritiesDebtSecurities`	$466.00K	USD	Point-in-time
Deferred tax asset, net	`DeferredTaxAssetsLiabilitiesNet`	$22.68M	USD	Point-in-time
Deferred tax asset, net	`DeferredTaxAssetsLiabilitiesNet`	$25.78M	USD	Point-in-time
Warrant assets	`WarrantAssets`	$2.78M	USD	Point-in-time
Warrant assets	`WarrantAssets`	$3.56M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$25.11M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	-	USD	Point-in-time
Goodwill	`Goodwill`	$8.40M	USD	Point-in-time
Goodwill	`Goodwill`	-	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$25.00K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.29M	USD	Point-in-time
Other assets	`PrepaidExpenseAndOtherAssets`	$474.00K	USD	Point-in-time
Other assets	`PrepaidExpenseAndOtherAssets`	$336.00K	USD	Point-in-time
Total assets	`Assets`	$254.37M	USD	Point-in-time
Total assets	`Assets`	$215.66M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.58M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$3.06M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.06M	USD	Point-in-time
Contingent consideration payable	`ContingentConsiderationPayable`	$14.50M	USD	Point-in-time
Contingent consideration payable	`ContingentConsiderationPayable`	-	USD	Point-in-time
Warrant liability	`WarrantsAndRightsOutstanding`	$76.00K	USD	Point-in-time
Warrant liability	`WarrantsAndRightsOutstanding`	$13.00K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$203.00K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$11.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$17.84M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.60M	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; 12,917,348 and 12,933,674 shares issued and outstanding at December 31, 2019 and 2018, respectively	`CommonStockValue`	$13.00K	USD	Point-in-time
Common Stock, $0.001 par value; 250,000,000 shares authorized; 12,917,348 and 12,933,674 shares issued and outstanding at December 31, 2019 and 2018, 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`	$-4.20B	USD	Point-in-time
Total SWK Holdings Corporation stockholders' equity	`StockholdersEquity`	$207.95M	USD	Point-in-time
Total SWK Holdings Corporation stockholders' equity	`StockholdersEquity`	$236.53M	USD	Point-in-time
Total SWK Holdings Corporation stockholders' equity	`StockholdersEquity`	$213.06M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$254.37M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$215.66M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Finance receivable interest income, including fees	`InterestAndFeeIncomeLoansAndLeases`	$30.12M	USD	Annual
Finance receivable interest income, including fees	`InterestAndFeeIncomeLoansAndLeases`	$25.98M	USD	Annual
Pharmaceutical development	`PharmaceuticalDevelopmentRevenue`	-	USD	Annual
Pharmaceutical development	`PharmaceuticalDevelopmentRevenue`	$621.00K	USD	Annual
Other	`RevenueNotFromContractWithCustomerOther`	$9.00K	USD	Annual
Other	`RevenueNotFromContractWithCustomerOther`	$12.00K	USD	Annual
Revenues	`Revenues`	$25.99M	USD	Annual
Revenues	`Revenues`	$30.75M	USD	Annual
Provision for loan credit losses	`ProvisionForLoanAndLeaseLosses`	$6.18M	USD	Annual
Provision for loan credit losses	`ProvisionForLoanAndLeaseLosses`	$2.21M	USD	Annual
Impairment expense	`OperatingLeaseImpairmentLoss`	-	USD	Annual
Impairment expense	`OperatingLeaseImpairmentLoss`	$7.88M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$4.87M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$7.43M	USD	Annual
Depreciation and amortization expense	`DepreciationAndAmortization`	$4.95M	USD	Annual
Depreciation and amortization expense	`DepreciationAndAmortization`	$17.00K	USD	Annual
Pharmaceutical manufacturing, research and development expense	`ResearchAndDevelopmentExpense`	$1.18M	USD	Annual
Pharmaceutical manufacturing, research and development expense	`ResearchAndDevelopmentExpense`	-	USD	Annual
Interest expense	`InterestExpense`	$160.00K	USD	Annual
Interest expense	`InterestExpense`	$338.00K	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$19.10M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$16.11M	USD	Annual
Unrealized net gain on derivatives	`UnrealizedGainLossOnDerivatives`	$484.00K	USD	Annual
Unrealized net gain on derivatives	`UnrealizedGainLossOnDerivatives`	$362.00K	USD	Annual
Unrealized net loss on equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$-1.03M	USD	Annual
Unrealized net loss on equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$1.64M	USD	Annual
Loss on write off of investments	`MarketableSecuritiesGainLoss`	$-105.00K	USD	Annual
Loss on write off of investments	`MarketableSecuritiesGainLoss`	$197.00K	USD	Annual
Income (loss) before provision (benifit) for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.24M	USD	Annual
Income (loss) before provision (benifit) for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$16.84M	USD	Annual
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-6.99M	USD	Annual
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$42.00K	USD	Annual
Consolidated net income	`ProfitLoss`	$6.20M	USD	Annual
Consolidated net income	`ProfitLoss`	$23.83M	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.47	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.85	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.85	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.47	USD	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.05M	shares	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.91M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.05M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	12.91M	shares	Annual

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Consolidated net income	`ProfitLoss`	$6.20M	USD	Annual
Consolidated net income	`ProfitLoss`	$23.83M	USD	Annual
Provision for loan credit losses	`ProvisionForLoanAndLeaseLosses`	$6.18M	USD	Annual
Provision for loan credit losses	`ProvisionForLoanAndLeaseLosses`	$2.21M	USD	Annual
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	-	USD	Annual
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$188.00K	USD	Annual
Impairment expense	`OperatingLeaseImpairmentLoss`	-	USD	Annual
Impairment expense	`OperatingLeaseImpairmentLoss`	$7.88M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$31.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-7.10M	USD	Annual
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$-362.00K	USD	Annual
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$-484.00K	USD	Annual
Change in fair value of equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$-1.03M	USD	Annual
Change in fair value of equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$1.64M	USD	Annual
Gain on sale of investments	`MarketableSecuritiesGainLoss`	$-105.00K	USD	Annual
Gain on sale of investments	`MarketableSecuritiesGainLoss`	$197.00K	USD	Annual
Loan discount amortization and fee accretion	`AmortizationOfDeferredLoanOriginationFeesNet`	$-487.00K	USD	Annual
Loan discount amortization and fee accretion	`AmortizationOfDeferredLoanOriginationFeesNet`	$349.00K	USD	Annual
Interest paid-in-kind	`PaidInKindInterest`	$191.00K	USD	Annual
Interest paid-in-kind	`PaidInKindInterest`	$1.29M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$267.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$530.00K	USD	Annual
Interest income in excess of cash collected	`InterestIncomeInExcessOfCashCollected`	$-249.00K	USD	Annual
Interest income in excess of cash collected	`InterestIncomeInExcessOfCashCollected`	$-82.00K	USD	Annual
Other	`OtherNoncashIncomeExpense`	$28.00K	USD	Annual
Other	`OtherNoncashIncomeExpense`	$4.95M	USD	Annual
Interest receivable	`IncreaseDecreaseInInterestAndDividendsReceivable`	$-214.00K	USD	Annual
Interest receivable	`IncreaseDecreaseInInterestAndDividendsReceivable`	$-558.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-202.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$205.00K	USD	Annual
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.30M	USD	Annual
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.73M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$19.63M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.54M	USD	Annual
Acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	Annual
Acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$19.72M	USD	Annual
Proceeds from sale of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$197.00K	USD	Annual
Proceeds from sale of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$221.00K	USD	Annual
Investment in equity securities	`IncreaseDecreaseInTradingSecurities`	$159.00K	USD	Annual
Investment in equity securities	`IncreaseDecreaseInTradingSecurities`	-	USD	Annual
Investment in finance receivables	`PaymentsToAcquireFinanceReceivables`	$90.11M	USD	Annual
Investment in finance receivables	`PaymentsToAcquireFinanceReceivables`	$51.04M	USD	Annual
Repayment of finance receivables	`ProceedsRepaymentOfFinanceReceivables`	$61.71M	USD	Annual
Repayment of finance receivables	`ProceedsRepaymentOfFinanceReceivables`	$43.98M	USD	Annual
Corporate debt security principal payment	`MarketableInvestmentPrincipalPayment`	$66.00K	USD	Annual
Corporate debt security principal payment	`MarketableInvestmentPrincipalPayment`	$69.00K	USD	Annual
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$48.00K	USD	Annual
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$16.00K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-28.13M	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-26.72M	USD	Annual
Repurchases of common stock, including fees and expenses	`PaymentsForRepurchaseOfCommonStock`	$883.00K	USD	Annual
Repurchases of common stock, including fees and expenses	`PaymentsForRepurchaseOfCommonStock`	$1.36M	USD	Annual
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	Annual
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$469.00K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-883.00K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.83M	USD	Annual
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-10.33M	USD	Annual
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-9.07M	USD	Annual
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$20.23M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.16M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$30.56M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$20.23M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.16M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$30.56M	USD	Point-in-time
Warrants received in connection with finance receivables	`WarrantsReceivedInConjunctionWithPurchaseOfFinancialReceivables`	$1.49M	USD	Annual
Warrants received in connection with finance receivables	`WarrantsReceivedInConjunctionWithPurchaseOfFinancialReceivables`	$353.00K	USD	Annual
Contingent consideration in connection with business combination	`ContingentConsiderationInConnectionWithBusinessCombination`	-	USD	Annual
Contingent consideration in connection with business combination	`ContingentConsiderationInConnectionWithBusinessCombination`	$14.50M	USD	Annual

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$207.95M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$236.53M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$213.06M	USD	Point-in-time
Stock-based compensation	`ShareBasedCompensation`	$267.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$530.00K	USD	Annual
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	-	USD	Annual
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	-	USD	Annual
Repurchases of common stock in open market	`StockRepurchasedDuringPeriodValue`	$1.36M	USD	Annual
Repurchases of common stock in open market	`StockRepurchasedDuringPeriodValue`	$883.00K	USD	Annual
Net income	`ProfitLoss`	$6.20M	USD	Annual
Net income	`ProfitLoss`	$23.83M	USD	Annual
Ending Balance	`StockholdersEquity`	$207.95M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$236.53M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$213.06M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Consolidated net income	`ProfitLoss`	$6.20M	USD	Annual
Consolidated net income	`ProfitLoss`	$23.83M	USD	Annual
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	-	USD	Annual
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	-	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$6.20M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$23.83M	USD	Annual

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