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Side-by-side financial comparison of Identiv, Inc. (INVE) and SWK Holdings Corp (SWKH). Click either name above to swap in a different company.
SWK Holdings Corp is the larger business by last-quarter revenue ($8.7M vs $6.2M, roughly 1.4× Identiv, Inc.). On growth, Identiv, Inc. posted the faster year-over-year revenue change (-7.9% vs -29.7%). SWK Holdings Corp produced more free cash flow last quarter ($26.8M vs $2.8M). Over the past eight quarters, Identiv, Inc.'s revenue compounded faster (-3.8% CAGR vs -12.5%).
Identiv is a publicly traded Internet of Things technology company listed on the Nasdaq stock market.
SWK Holdings Corp is a specialty finance firm focused on the healthcare and life sciences sectors. It provides tailored financing solutions including royalty monetization, structured debt, and asset-backed lending to biotech, pharmaceutical, medical device and diagnostic companies, with its core market centered in North America.
INVE vs SWKH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $6.2M | $8.7M |
| Net Profit | $-3.7M | $-19.4M |
| Gross Margin | 18.1% | — |
| Operating Margin | -76.4% | 9.9% |
| Net Margin | -60.3% | — |
| Revenue YoY | -7.9% | -29.7% |
| Net Profit YoY | -948.2% | -430.2% |
| EPS (diluted) | $-0.17 | $-1.59 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $6.2M | $8.7M | ||
| Q3 25 | $5.0M | $10.9M | ||
| Q2 25 | $5.0M | $10.1M | ||
| Q1 25 | $5.3M | $11.8M | ||
| Q4 24 | $6.7M | $12.4M | ||
| Q3 24 | $6.5M | $10.4M | ||
| Q2 24 | $6.7M | $10.8M | ||
| Q1 24 | $6.7M | $11.4M |
| Q4 25 | $-3.7M | $-19.4M | ||
| Q3 25 | $-3.5M | $8.8M | ||
| Q2 25 | $-6.0M | $3.5M | ||
| Q1 25 | $-4.8M | $4.5M | ||
| Q4 24 | $-355.0K | $5.9M | ||
| Q3 24 | $85.9M | $3.5M | ||
| Q2 24 | $-6.2M | $3.7M | ||
| Q1 24 | $-4.6M | $468.0K |
| Q4 25 | 18.1% | — | ||
| Q3 25 | 10.7% | — | ||
| Q2 25 | -9.4% | — | ||
| Q1 25 | 2.5% | — | ||
| Q4 24 | -14.9% | — | ||
| Q3 24 | 3.6% | — | ||
| Q2 24 | 9.1% | — | ||
| Q1 24 | 7.3% | — |
| Q4 25 | -76.4% | 9.9% | ||
| Q3 25 | -111.4% | 61.3% | ||
| Q2 25 | -126.7% | 46.1% | ||
| Q1 25 | -103.8% | 68.6% | ||
| Q4 24 | -98.9% | 44.7% | ||
| Q3 24 | -146.2% | 39.2% | ||
| Q2 24 | -99.7% | 8.3% | ||
| Q1 24 | -76.0% | 9.5% |
| Q4 25 | -60.3% | — | ||
| Q3 25 | -68.9% | 80.7% | ||
| Q2 25 | -119.9% | 35.2% | ||
| Q1 25 | -90.9% | 38.4% | ||
| Q4 24 | -5.3% | 47.5% | ||
| Q3 24 | 1315.8% | 33.3% | ||
| Q2 24 | -92.2% | 33.9% | ||
| Q1 24 | -68.5% | 4.1% |
| Q4 25 | $-0.17 | $-1.59 | ||
| Q3 25 | $-0.15 | $0.72 | ||
| Q2 25 | $-0.26 | $0.29 | ||
| Q1 25 | $-0.21 | $0.37 | ||
| Q4 24 | $0.00 | $0.47 | ||
| Q3 24 | $3.62 | $0.28 | ||
| Q2 24 | $-0.27 | $0.30 | ||
| Q1 24 | $-0.21 | $0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $128.6M | $42.8M |
| Total DebtLower is stronger | — | $33.0M |
| Stockholders' EquityBook value | $140.7M | $235.1M |
| Total Assets | $151.3M | $272.4M |
| Debt / EquityLower = less leverage | — | 0.14× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $128.6M | $42.8M | ||
| Q3 25 | $126.3M | $10.2M | ||
| Q2 25 | $129.3M | $8.0M | ||
| Q1 25 | $132.4M | $29.8M | ||
| Q4 24 | $135.6M | $5.9M | ||
| Q3 24 | $145.4M | $17.2M | ||
| Q2 24 | $18.4M | $5.5M | ||
| Q1 24 | $21.6M | $5.5M |
| Q4 25 | — | $33.0M | ||
| Q3 25 | — | $33.0M | ||
| Q2 25 | — | $33.0M | ||
| Q1 25 | — | $33.0M | ||
| Q4 24 | — | $33.0M | ||
| Q3 24 | — | $33.0M | ||
| Q2 24 | — | $33.0M | ||
| Q1 24 | — | $33.0M |
| Q4 25 | $140.7M | $235.1M | ||
| Q3 25 | $143.7M | $254.2M | ||
| Q2 25 | $146.4M | $246.5M | ||
| Q1 25 | $150.5M | $292.7M | ||
| Q4 24 | $154.1M | $288.7M | ||
| Q3 24 | $156.7M | $283.4M | ||
| Q2 24 | $65.1M | $282.8M | ||
| Q1 24 | $70.2M | $279.9M |
| Q4 25 | $151.3M | $272.4M | ||
| Q3 25 | $151.0M | $289.4M | ||
| Q2 25 | $153.9M | $285.7M | ||
| Q1 25 | $158.7M | $331.3M | ||
| Q4 24 | $163.2M | $332.2M | ||
| Q3 24 | $177.0M | $321.3M | ||
| Q2 24 | $97.8M | $321.0M | ||
| Q1 24 | $101.8M | $322.0M |
| Q4 25 | — | 0.14× | ||
| Q3 25 | — | 0.13× | ||
| Q2 25 | — | 0.13× | ||
| Q1 25 | — | 0.11× | ||
| Q4 24 | — | 0.11× | ||
| Q3 24 | — | 0.12× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 0.12× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $3.0M | $27.3M |
| Free Cash FlowOCF − Capex | $2.8M | $26.8M |
| FCF MarginFCF / Revenue | 45.8% | 308.1% |
| Capex IntensityCapex / Revenue | 3.3% | 5.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-7.8M | $43.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.0M | $27.3M | ||
| Q3 25 | $-2.9M | $906.0K | ||
| Q2 25 | $-3.6M | $7.8M | ||
| Q1 25 | $-3.3M | $8.3M | ||
| Q4 24 | $-5.9M | $23.0M | ||
| Q3 24 | $-7.2M | $6.3M | ||
| Q2 24 | $-993.0K | $5.4M | ||
| Q1 24 | $-1.3M | $4.4M |
| Q4 25 | $2.8M | $26.8M | ||
| Q3 25 | $-3.2M | $557.0K | ||
| Q2 25 | $-3.8M | $7.7M | ||
| Q1 25 | $-3.6M | $8.2M | ||
| Q4 24 | $-6.5M | $22.9M | ||
| Q3 24 | $-7.7M | $6.3M | ||
| Q2 24 | $-1.1M | $5.4M | ||
| Q1 24 | $-1.5M | — |
| Q4 25 | 45.8% | 308.1% | ||
| Q3 25 | -64.5% | 5.1% | ||
| Q2 25 | -75.8% | 77.0% | ||
| Q1 25 | -68.0% | 69.1% | ||
| Q4 24 | -97.7% | 185.3% | ||
| Q3 24 | -118.2% | 60.4% | ||
| Q2 24 | -16.7% | 49.7% | ||
| Q1 24 | -23.0% | — |
| Q4 25 | 3.3% | 5.9% | ||
| Q3 25 | 7.0% | 3.2% | ||
| Q2 25 | 5.0% | 0.6% | ||
| Q1 25 | 5.7% | 0.8% | ||
| Q4 24 | 9.3% | 1.1% | ||
| Q3 24 | 7.7% | 0.3% | ||
| Q2 24 | 2.0% | 0.2% | ||
| Q1 24 | 3.5% | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.10× | ||
| Q2 25 | — | 2.21× | ||
| Q1 25 | — | 1.82× | ||
| Q4 24 | — | 3.93× | ||
| Q3 24 | -0.08× | 1.82× | ||
| Q2 24 | — | 1.47× | ||
| Q1 24 | — | 9.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INVE
| Other | $3.4M | 55% |
| Europe And Middle East | $2.2M | 36% |
| Asia Pacific | $575.0K | 9% |
SWKH
| Finance Receivables Segment | $8.4M | 96% |
| Other | $329.0K | 4% |
