SWK Holdings Q1 net income falls 80% to $0.9M on $6M loan impairment; revenue up 25.5%

SWK Holdings Corp

2024-Q1 EPS reported $0.07 revenue$11,779,000

GAAP net income of $0.9M ($0.07 diluted EPS) vs $4.6M ($0.36) in Q1 2023.
Revenue rose 25.5% to $11.8M; finance receivables segment revenue hit near-record $11.5M.
Finance segment adjusted non-GAAP net income fell to $2.7M from $7.3M, reflecting $6.0M loan impairment.
Gross finance receivables grew 10.3% YoY to $274.5M; non-accrual loans totaled $26.8M.
Enteris signed exclusive option agreement with strategic partner; received initial low-single-digit million option fee in April.

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