SWK Holdings Reports Q2 2025 Financial Results

SWK Holdings Corporation has announced its financial results for the second quarter of 2025, revealing a net income of $3.5 million, slightly down from $3.7 million in the same period last year. The company also reported adjusted non-GAAP net income for its finance receivables segment at $4.6 million, a significant rise from $2.6 million in Q2 2024.

SWK's net finance receivables were $237.6 million by the end of June 2025, marking a 10.4% decrease year-over-year, largely due to the monetization of its royalty portfolio. The effective yield decreased by 50 basis points to 14.1%.

The company’s GAAP book value per share decreased by 11.0% to $20.23, but would have risen by 6.8% excluding the $4.00 per share dividend paid during the quarter. The non-GAAP tangible financing book value per share saw an 8.3% decrease.

Despite lower total revenue of $10.1 million, SWK advanced $13.5 million to two performing borrowers during the period. The company remains focused on its core life science loan strategy.