SWK Holdings Q2 2024 revenue up 21% to $11.5M; GAAP net income $4.4M vs $3.9M YoY

SWK Holdings Corp

2024-Q2 EPS reported $0.36 revenue$22,585,000

Finance receivables segment revenue rose 15.3% to $10.7M; adjusted non-GAAP net income fell to $6.5M from $7.6M YoY.
Provision for credit losses totaled $4.1M driven by impairments on Trio ($2.1M) and Exeevo ($2.2M) loans.
Non-accrual finance receivables were $22.4M at June 30, 2024; portfolio includes Flowonix, Exeevo, Ideal Implant, Best ABT, Trio.
Post-quarter closed up to $11M royalty financing with Relief Therapeutics; $5.8M advanced at close.
Non-GAAP tangible financing book value per share grew 6.4% to $20.17; GAAP book value per share $22.75.

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