SWK Holdings Corp
For the period ended Dec 31, 2023. Filed Mar 20, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 20, 2024
SWKHL$25.21+0.1%Stored close · as of Nov 2, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities: | ||
| Net income | $15,887 | $13,491 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Allowance for credit losses | 1,912 | 3,491 |
| Amortization of debt issuance costs | 493 | 69 |
| Impairment of goodwill | 8,404 | — |
| Right-of-use asset amortization | 333 | 229 |
| Deferred income taxes | (1,286) | (3,941) |
| Change in fair value of warrants | 55 | (417) |
| Change in fair value of equity securities | — | 528 |
| Realized loss from write down of warrant assets | 799 | — |
| Foreign currency transaction (gain) loss | (1,876) | 754 |
| Loss on sale of marketable securities | — | 151 |
| Change in fair value of acquisition-related contingent consideration | (6,300) | 5,170 |
| Loan discount and fee accretion | (3,827) | (2,204) |
| Interest paid-in-kind | (1,826) | (5,995) |
| Stock-based compensation | 509 | 500 |
| Depreciation and amortization expense | 2,577 | 2,599 |
| Changes in operating assets and liabilities: | ||
| Interest and accounts receivable | (1,635) | (1,291) |
| Derivative assets and liabilities, net | 1,059 | (539) |
| Collateral on forward currency exchange contract | — | (2,750) |
| Other assets | (787) | (44) |
| Accounts payable and other liabilities | 396 | (1,599) |
| Net cash provided by operating activities | 14,887 | 8,202 |
| Cash flows from investing activities: | ||
| Proceeds from sale of investment and finance receivables | 13,942 | 4,151 |
| Investment in finance receivables | (74,125) | (93,118) |
| Repayment of finance receivables | 11,703 | 45,673 |
| Corporate debt securities principal payments | 28 | 43 |
| Purchases of property and equipment | (496) | (297) |
| Net cash used in investing activities | (48,948) | (43,548) |
| Cash flows from financing activities: | ||
| Net settlement for employee taxes on restricted stock and options | — | (160) |
| Payments for financing costs | (3,407) | — |
| Repurchases of common stock, including fees and expenses | (6,327) | (1,138) |
| Proceeds from senior unsecured notes | 32,969 | — |
| Net proceeds from revolving credit facilities | 9,905 | 2,437 |
| Payment of acquisition-related contingent consideration | — | (2,500) |
| Net cash provided by (used in) financing activities | 33,140 | (1,361) |
| Net decrease in cash, cash equivalents and restricted cash | (920) | (36,707) |
| Cash, cash equivalents and restricted cash, beginning of period | 6,156 | 42,863 |
| Cash, cash equivalents and restricted cash, end of period | $5,236 | $6,156 |
| Supplemental noncash flow activity: | ||
| Warrants received in connection with finance receivables | $1,364 | $1,180 |
| Cash paid for interest | $1,351 | $268 |
| Fair value of common stock received upon exercise of warrant | $— | $3,667 |
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