10-Q Filing

SWK Holdings Corp CIK: 1089907 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001552781-21-000436`
Period End Date	20210331
Filing Date	20210517
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	swkh-20210331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 38 Cash Flow Statement 58 Stockholders Equity 15

Balance Sheet 74 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`	$11.16M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.01M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$24.32M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.61M	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Interest and accounts receivable, net	`AccountsReceivableNet`	$1.91M	USD	Point-in-time
Interest and accounts receivable, net	`AccountsReceivableNet`	$2.17M	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`	$2.14M	USD	Point-in-time
Marketable investments	`MarketableSecurities`	$1.21M	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`	$542.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$984.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.91M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.67M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	12.80M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	12.79M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	12.80M	shares	Point-in-time
Finance receivables, net	`NotesAndLoansReceivableNetCurrent`	$209.90M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	12.79M	shares	Point-in-time
Finance receivables, net	`NotesAndLoansReceivableNetCurrent`	$204.49M	USD	Point-in-time
Marketable investments	`AvailableForSaleSecuritiesDebtSecurities`	$223.00K	USD	Point-in-time
Marketable investments	`AvailableForSaleSecuritiesDebtSecurities`	$241.00K	USD	Point-in-time
Investment in TRT	`InvestmentInTRTAtFairValue`	$3.49M	USD	Point-in-time
Investment in TRT	`InvestmentInTRTAtFairValue`	$3.49M	USD	Point-in-time
Deferred tax asset, net	`DeferredIncomeTaxAssetsNet`	$27.49M	USD	Point-in-time
Deferred tax asset, net	`DeferredIncomeTaxAssetsNet`	$26.57M	USD	Point-in-time
Warrant assets	`WarrantAssets`	$3.25M	USD	Point-in-time
Warrant assets	`WarrantAssets`	$2.97M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$13.62M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$11.85M	USD	Point-in-time
Goodwill	`Goodwill`	$8.40M	USD	Point-in-time
Goodwill	`Goodwill`	$8.40M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.21M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.45M	USD	Point-in-time
Other assets	`PrepaidExpenseAndOtherAssets`	$1.31M	USD	Point-in-time
Other assets	`PrepaidExpenseAndOtherAssets`	$1.16M	USD	Point-in-time
Total assets	`Assets`	$277.22M	USD	Point-in-time
Total assets	`Assets`	$273.90M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$3.65M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$4.04M	USD	Point-in-time
Revolving credit facility	`LinesOfCreditCurrent`	$11.76M	USD	Point-in-time
Revolving credit facility	`LinesOfCreditCurrent`	$11.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$15.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$15.41M	USD	Point-in-time
Contingent consideration payable	`ContingentConsiderationPayable`	$16.90M	USD	Point-in-time
Contingent consideration payable	`ContingentConsiderationPayable`	$16.90M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.04M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.08M	USD	Point-in-time
Total liabilities	`Liabilities`	$33.14M	USD	Point-in-time
Total liabilities	`Liabilities`	$33.39M	USD	Point-in-time
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 250,000,000 shares authorized; 12,795,607 and 12,792,586 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$13.00K	USD	Point-in-time
Common stock, $0.001 par value; 250,000,000 shares authorized; 12,795,607 and 12,792,586 shares issued and outstanding as of March 31, 2021 and December 31, 2020, 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`	$-4.19B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.19B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$236.53M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$244.08M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$232.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$240.51M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$277.22M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$273.90M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Finance receivable interest income, including fees	`InterestAndFeeIncomeLoansAndLeases`	$8.68M	USD	1 Quarter
Finance receivable interest income, including fees	`InterestAndFeeIncomeLoansAndLeases`	$7.14M	USD	1 Quarter
Pharmaceutical development	`PharmaceuticalDevelopmentRevenue`	$148.00K	USD	1 Quarter
Pharmaceutical development	`PharmaceuticalDevelopmentRevenue`	$198.00K	USD	1 Quarter
Other	`RevenueNotFromContractWithCustomerOther`	$18.00K	USD	1 Quarter
Other	`RevenueNotFromContractWithCustomerOther`	$496.00K	USD	1 Quarter
Revenues	`Revenues`	$9.37M	USD	1 Quarter
Revenues	`Revenues`	$7.30M	USD	1 Quarter
Impairment expense	`OperatingLeaseImpairmentLoss`	$163.00K	USD	1 Quarter
Impairment expense	`OperatingLeaseImpairmentLoss`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$101.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$145.00K	USD	1 Quarter
Pharmaceutical manufacturing, research and development expense	`ResearchAndDevelopmentExpense`	$1.55M	USD	1 Quarter
Pharmaceutical manufacturing, research and development expense	`ResearchAndDevelopmentExpense`	$1.15M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$1.68M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$3.50M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.04M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.88M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$6.26M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$7.96M	USD	1 Quarter
Unrealized net gain (loss) on warrants	`UnrealizedGainLossOnDerivatives`	$-1.86M	USD	1 Quarter
Unrealized net gain (loss) on warrants	`UnrealizedGainLossOnDerivatives`	$283.00K	USD	1 Quarter
Unrealized net gain (loss) on equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$932.00K	USD	1 Quarter
Unrealized net gain (loss) on equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$-890.00K	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.41M	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.33M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$939.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.25M	USD	1 Quarter
Consolidated net income (loss)	`ProfitLoss`	$-4.66M	USD	1 Quarter
Consolidated net income (loss)	`ProfitLoss`	$3.39M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.36	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.26	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.26	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.36	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12,793.00	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12,913.00	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	12,810.00	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	12,913.00	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Consolidated net income	`ProfitLoss`	$-4.66M	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$3.39M	USD	1 Quarter
Impairment expense	`OperatingLeaseImpairmentLoss`	$163.00K	USD	1 Quarter
Impairment expense	`OperatingLeaseImpairmentLoss`	-	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$47.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$46.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$918.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$1.25M	USD	1 Quarter
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$-283.00K	USD	1 Quarter
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$1.86M	USD	1 Quarter
Change in fair value of equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$932.00K	USD	1 Quarter
Change in fair value of equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$-890.00K	USD	1 Quarter
Loan discount amortization and fee accretion	`AmortizationOfDeferredLoanOriginationFeesNet`	$536.00K	USD	1 Quarter
Loan discount amortization and fee accretion	`AmortizationOfDeferredLoanOriginationFeesNet`	$628.00K	USD	1 Quarter
Interest paid-in-kind	`PaidInKindInterest`	$13.00K	USD	1 Quarter
Interest paid-in-kind	`PaidInKindInterest`	$467.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$177.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$187.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.50M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.68M	USD	1 Quarter
Interest and accounts receivable	`IncreaseDecreaseInInterestAndDividendsReceivable`	$-260.00K	USD	1 Quarter
Interest and accounts receivable	`IncreaseDecreaseInInterestAndDividendsReceivable`	$543.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$308.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$462.00K	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$994.00K	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$350.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.32M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.37M	USD	1 Quarter
Investment in equity securities	`IncreaseDecreaseInTradingSecurities`	$233.00K	USD	1 Quarter
Investment in equity securities	`IncreaseDecreaseInTradingSecurities`	-	USD	1 Quarter
Investment in finance receivables	`PaymentsToAcquireFinanceReceivables`	$7.10M	USD	1 Quarter
Investment in finance receivables	`PaymentsToAcquireFinanceReceivables`	$5.50M	USD	1 Quarter
Repayment of finance receivables	`ProceedsRepaymentOfFinanceReceivables`	$2.30M	USD	1 Quarter
Repayment of finance receivables	`ProceedsRepaymentOfFinanceReceivables`	$1.35M	USD	1 Quarter
Corporate debt security principal payment	`MarketableInvestmentPrincipalPayment`	$18.00K	USD	1 Quarter
Corporate debt security principal payment	`MarketableInvestmentPrincipalPayment`	$18.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$321.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$249.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-163.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.38M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.17M	USD	1 Quarter
Net (payments) proceeds from credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$-600.00K	USD	1 Quarter
Net (payments) proceeds from credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$14.29M	USD	1 Quarter
Repurchases of common stock, including fees and expenses	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Repurchases of common stock, including fees and expenses	`PaymentsForRepurchaseOfCommonStock`	$62.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-600.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$14.23M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.40M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$13.16M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.16M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.01M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$24.32M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.61M	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`	$3.01M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$24.32M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.61M	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$236.53M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$244.08M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$232.00M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$240.51M	USD	Point-in-time
Stock-based compensation	`ShareBasedCompensation`	$177.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$187.00K	USD	1 Quarter
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	-	USD	1 Quarter
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	-	USD	1 Quarter
Repurchases of common stock in open market	`StockRepurchasedDuringPeriodValue`	$62.00K	USD	1 Quarter
Net income	`ProfitLoss`	$-4.66M	USD	1 Quarter
Net income	`ProfitLoss`	$3.39M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$236.53M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$244.08M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$232.00M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$240.51M	USD	Point-in-time

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