SWK Holdings Corporation (NASDAQ:SWKH) Q1 2024 Results Conference Call May 16, 2024 10:00 AM ET
Company Participants
Jason Rando - Tiberend Strategic Advisors, Inc.
Jody Staggs - President and Chief Executive Officer
Conference Call Participants
Mark Argentino - Lake Street
Operator
Good morning, everyone, and welcome to the SWK Holdings First Quarter 2024 Conference Call. At this time, all participants have been placed on a listen-only mode, and we will open the floor for your questions and comments after the presentation.
It is now my pleasure to turn the floor over to your host, Jason Rando. Sir, the floor is yours.
Jason Rando
Good morning, everyone, and thank you for joining SWK Holdings first quarter 2024 financial and corporate results call. Yesterday evening, SWK Holdings issued a press release detailing its financial results for the three months ended March 31, 2024. The press release can be found in the Investor Relations section of swkhold.com under News Releases.
Before beginning today's call, I would like to make the following statement regarding forward-looking statements. Today, we'll be making certain forward-looking statements about future expectations, plans, events and circumstances including statements about our strategy, future operations, and our expectations regarding our capital allocation and cash resources. These statements are based on our current expectations, and you should not place undue reliance on these statements.
Actual results may differ materially due to our risks and uncertainties, including those detailed in the Risk Factors section of SWK Holdings 10-K filed with the SEC and other filings we make with the SEC from time to time. SWK Holdings disclaims any obligation to update information contained in these forward-looking statements, whether as a result of new information, future events or otherwise.
Joining me from SWK Holdings on today's call is Jody Staggs, President and CEO, who will provide an update on SWK's first quarter 2024 corporate and financial results.
Jody, go ahead.
Jody Staggs
Thank you, Jason, and thanks, everyone, for joining our first quarter conference call. SWK's first quarter of 2024 results were highlighted by a 24% growth in Finance segment revenue to a near all-time high of $11.5 million, while our Enteris segment signed an exclusive option and purchase agreement with a strategic partner that reduces the operating burn and may lead to the acquisition of certain CDMO-related tangible assets.
SWK's core business is financing commercial stage life science product companies do first lien term loans and royalties with a focus on $5 million to $25 million investments. We have concentrated on this niche for over a decade and have developed an extensive network and strong experience, spanning the three core functions of a direct credit firm, origination, underwriting and portfolio management.