10-K Filing

SWK Holdings Corp CIK: 1089907 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001552781-22-000279`
Period End Date	20211231
Filing Date	20220325
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	e22179_swkh-10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 42 Cash Flow Statement 70 Stockholders Equity 17

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.01M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$42.86M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.16M	USD	Point-in-time
Interest and accounts receivable, net	`AccountsReceivableNet`	$1.91M	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Interest and accounts receivable, net	`AccountsReceivableNet`	$1.80M	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Marketable investments	`MarketableSecurities`	$1.21M	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Marketable investments	`MarketableSecurities`	$1.03M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$542.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.73M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	12.84M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$47.43M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.67M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	12.79M	shares	Point-in-time
Finance receivables, net	`NotesAndLoansReceivableNetCurrent`	$204.49M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	12.79M	shares	Point-in-time
Finance receivables, net	`NotesAndLoansReceivableNetCurrent`	$181.55M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	12.84M	shares	Point-in-time
Marketable investments	`AvailableForSaleSecuritiesDebtSecurities`	$241.00K	USD	Point-in-time
Marketable investments	`AvailableForSaleSecuritiesDebtSecurities`	$119.00K	USD	Point-in-time
Cost method investment	`CostMethodInvestments`	$3.49M	USD	Point-in-time
Cost method investment	`CostMethodInvestments`	$3.49M	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$20.54M	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$27.49M	USD	Point-in-time
Warrant assets	`WarrantAssets`	$2.97M	USD	Point-in-time
Warrant assets	`WarrantAssets`	$3.42M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$9.96M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$13.45M	USD	Point-in-time
Goodwill	`Goodwill`	$8.40M	USD	Point-in-time
Goodwill	`Goodwill`	$8.40M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$5.78M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$5.21M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$1.97M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$1.48M	USD	Point-in-time
Total assets	`Assets`	$282.67M	USD	Point-in-time
Total assets	`Assets`	$273.90M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$5.09M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$3.65M	USD	Point-in-time
Revolving credit facility	`LinesOfCreditCurrent`	$11.76M	USD	Point-in-time
Revolving credit facility	`LinesOfCreditCurrent`	$8.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$15.41M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.09M	USD	Point-in-time
Contingent consideration payable	`ContingentConsiderationPayable`	$8.53M	USD	Point-in-time
Contingent consideration payable	`ContingentConsiderationPayable`	$16.90M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.08M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.43M	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	`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; 12,836,133 and 12,792,586 shares issued and outstanding at December 31, 2021 and 2020, respectively	`CommonStockValue`	$13.00K	USD	Point-in-time
Common stock, $0.001 par value; 250,000,000 shares authorized; 12,836,133 and 12,792,586 shares issued and outstanding at December 31, 2021 and 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`	$-4.16B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.19B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$240.51M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$267.24M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$236.53M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$273.90M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$282.67M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Finance receivable interest income, including fees	`InterestAndFeeIncomeLoansAndLeases`	$30.80M	USD	Annual
Finance receivable interest income, including fees	`InterestAndFeeIncomeLoansAndLeases`	$39.31M	USD	Annual
Pharmaceutical development	`PharmaceuticalDevelopmentRevenue`	$16.12M	USD	Annual
Pharmaceutical development	`PharmaceuticalDevelopmentRevenue`	$5.90M	USD	Annual
Other	`RevenueNotFromContractWithCustomerOther`	$723.00K	USD	Annual
Other	`RevenueNotFromContractWithCustomerOther`	$9.00K	USD	Annual
Total revenues	`Revenues`	$56.16M	USD	Annual
Total revenues	`Revenues`	$36.71M	USD	Annual
Impairment expense	`OperatingLeaseImpairmentLoss`	-	USD	Annual
Impairment expense	`OperatingLeaseImpairmentLoss`	$163.00K	USD	Annual
Pharmaceutical manufacturing, research and development expense	`ResearchAndDevelopmentExpense`	$4.27M	USD	Annual
Pharmaceutical manufacturing, research and development expense	`ResearchAndDevelopmentExpense`	$7.35M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$13.62M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$10.55M	USD	Annual
Depreciation and amortization expense	`DepreciationAndAmortization`	$12.09M	USD	Annual
Depreciation and amortization expense	`DepreciationAndAmortization`	$4.06M	USD	Annual
Change in fair value of acquisition-related contingent consideration	`ChangeInFairValueOfAcquisitionrelatedContingentConsideration`	$-287.00K	USD	Annual
Change in fair value of acquisition-related contingent consideration	`ChangeInFairValueOfAcquisitionrelatedContingentConsideration`	$4.40M	USD	Annual
Interest expense	`InterestExpense`	$455.00K	USD	Annual
Interest expense	`InterestExpense`	$374.00K	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$31.92M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$25.11M	USD	Annual
Unrealized net gain (loss) on warrants	`UnrealizedGainLossOnDerivatives`	$-586.00K	USD	Annual
Unrealized net gain (loss) on warrants	`UnrealizedGainLossOnDerivatives`	$272.00K	USD	Annual
Unrealized net gain (loss) on equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$-591.00K	USD	Annual
Unrealized net gain (loss) on equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$1.84M	USD	Annual
Realized (loss) gain on sale of investments	`MarketableSecuritiesGainLoss`	$53.00K	USD	Annual
Realized (loss) gain on sale of investments	`MarketableSecuritiesGainLoss`	$-140.00K	USD	Annual
Income before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$33.01M	USD	Annual
Income before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.67M	USD	Annual
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$7.08M	USD	Annual
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-1.54M	USD	Annual
Consolidated net income	`ProfitLoss`	$5.20M	USD	Annual
Consolidated net income	`ProfitLoss`	$25.93M	USD	Annual
Basic	`EarningsPerShareBasic`	$0.40	USD	Annual
Basic	`EarningsPerShareBasic`	$2.03	USD	Annual
Diluted	`EarningsPerShareDiluted`	$0.40	USD	Annual
Diluted	`EarningsPerShareDiluted`	$2.02	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	12.85M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	12.80M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	12.83M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	12.86M	shares	Annual

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Consolidated net income	`ProfitLoss`	$5.20M	USD	Annual
Consolidated net income	`ProfitLoss`	$25.93M	USD	Annual
Impairment expense	`OperatingLeaseImpairmentLoss`	-	USD	Annual
Impairment expense	`OperatingLeaseImpairmentLoss`	$163.00K	USD	Annual
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$188.00K	USD	Annual
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$49.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$6.95M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-1.71M	USD	Annual
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$586.00K	USD	Annual
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$-272.00K	USD	Annual
Change in fair value of equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$-591.00K	USD	Annual
Change in fair value of equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$1.84M	USD	Annual
Loss (gain) on sale of investments	`MarketableSecuritiesGainLoss`	$53.00K	USD	Annual
Loss (gain) on sale of investments	`MarketableSecuritiesGainLoss`	$-140.00K	USD	Annual
Change in fair value of acquisition-related contingent consideration	`ChangeInFairValueOfAcquisitionrelatedContingentConsideration`	$-287.00K	USD	Annual
Change in fair value of acquisition-related contingent consideration	`ChangeInFairValueOfAcquisitionrelatedContingentConsideration`	$4.40M	USD	Annual
Loan discount and fee accretion	`AmortizationOfDeferredLoanOriginationFeesNet`	$1.98M	USD	Annual
Loan discount and fee accretion	`AmortizationOfDeferredLoanOriginationFeesNet`	$1.13M	USD	Annual
Interest paid-in-kind	`PaidInKindInterest`	$950.00K	USD	Annual
Interest paid-in-kind	`PaidInKindInterest`	$2.15M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.16M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$728.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.06M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$12.09M	USD	Annual
Interest and accounts receivable	`IncreaseDecreaseInInterestAndDividendsReceivable`	$108.00K	USD	Annual
Interest and accounts receivable	`IncreaseDecreaseInInterestAndDividendsReceivable`	$643.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$959.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.79M	USD	Annual
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.53M	USD	Annual
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.16M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$34.30M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$19.27M	USD	Annual
Cash received from settlement of warrants and equity securities	`CashReceivedFromSettlementOfWarrants`	$1.88M	USD	Annual
Cash received from settlement of warrants and equity securities	`CashReceivedFromSettlementOfWarrants`	$53.00K	USD	Annual
Investment in finance receivables	`PaymentsToAcquireFinanceReceivables`	$42.86M	USD	Annual
Investment in finance receivables	`PaymentsToAcquireFinanceReceivables`	$42.35M	USD	Annual
Repayment of finance receivables	`ProceedsRepaymentOfFinanceReceivables`	$11.75M	USD	Annual
Repayment of finance receivables	`ProceedsRepaymentOfFinanceReceivables`	$67.19M	USD	Annual
Corporate debt securities principal payments	`MarketableInvestmentPrincipalPayment`	$62.00K	USD	Annual
Corporate debt securities principal payments	`MarketableInvestmentPrincipalPayment`	$122.00K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.08M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.94M	USD	Annual
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$237.00K	USD	Annual
Other	`PaymentsForProceedsFromOtherInvestingActivities`	-	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$25.76M	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-35.17M	USD	Annual
Net settlement for employee taxes on restricted stock and options	`NetSettlementForEmployeeTaxesOnRestrictedStockAndOptions`	-	USD	Annual
Net settlement for employee taxes on restricted stock and options	`NetSettlementForEmployeeTaxesOnRestrictedStockAndOptions`	$-368.00K	USD	Annual
Repurchases of common stock, including fees and expenses	`PaymentsForRepurchaseOfCommonStock`	-	USD	Annual
Repurchases of common stock, including fees and expenses	`PaymentsForRepurchaseOfCommonStock`	$2.01M	USD	Annual
Net (payments on) proceeds from credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$-11.75M	USD	Annual
Net (payments on) proceeds from credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$11.76M	USD	Annual
Payment of acquisition-related contingent consideration	`PaymentForContingentConsiderationLiabilityFinancingActivities`	$2.00M	USD	Annual
Payment of acquisition-related contingent consideration	`PaymentForContingentConsiderationLiabilityFinancingActivities`	$8.08M	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$7.75M	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-20.20M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$39.85M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-8.15M	USD	Annual
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.01M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$42.86M	USD	Point-in-time
Cash and cash equivalents at beginning 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`	$42.86M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.16M	USD	Point-in-time
Warrants received in connection with finance receivables	`WarrantsReceivedInConjunctionWithPurchaseOfFinancialReceivables`	$79.00K	USD	Annual
Warrants received in connection with finance receivables	`WarrantsReceivedInConjunctionWithPurchaseOfFinancialReceivables`	$175.00K	USD	Annual
Fair value of common stock issued in lieu of employee cash bonuses	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	-	USD	Annual
Fair value of common stock issued in lieu of employee cash bonuses	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$60.00K	USD	Annual
Fair value of common stock received in connection with payoff of term loan	`FairValueOfCommonStockReceivedInConnectionWithPayoffOfTermLoan`	-	USD	Annual
Fair value of common stock received in connection with payoff of term loan	`FairValueOfCommonStockReceivedInConnectionWithPayoffOfTermLoan`	$887.00K	USD	Annual

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balances at December 31, 2019	`StockholdersEquity`	$240.51M	USD	Point-in-time
Balances at December 31, 2019	`StockholdersEquity`	$267.24M	USD	Point-in-time
Balances at December 31, 2019	`StockholdersEquity`	$236.53M	USD	Point-in-time
Stock-based compensation	`ShareBasedCompensation`	$1.16M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$728.00K	USD	Annual
Issuance of common stock upon vesting of restricted stock	`StockIssuedDuringPeriodValueNewIssues`	-	USD	Annual
Issuance of common stock upon vesting of restricted stock	`StockIssuedDuringPeriodValueNewIssues`	-	USD	Annual
Issuances of common stock in lieu of employee cash bonuses	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	-	USD	Annual
Issuances of common stock in lieu of employee cash bonuses	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$60.00K	USD	Annual
Repurchases of common stock in open market	`StockRepurchasedDuringPeriodValue`	$2.01M	USD	Annual
Net income	`NetIncomeLoss`	$5.20M	USD	Annual
Net income	`NetIncomeLoss`	$25.93M	USD	Annual
Net settlement for employee taxes on restricted stock and options	`NetSettlementForEmployeeTaxesOnRestrictedStockAndOptions`	-	USD	Annual
Net settlement for employee taxes on restricted stock and options	`NetSettlementForEmployeeTaxesOnRestrictedStockAndOptions`	$-368.00K	USD	Annual
Balances at December 31, 2021	`StockholdersEquity`	$240.51M	USD	Point-in-time
Balances at December 31, 2021	`StockholdersEquity`	$267.24M	USD	Point-in-time
Balances at December 31, 2021	`StockholdersEquity`	$236.53M	USD	Point-in-time

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