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Side-by-side financial comparison of INTELLIGENT PROTECTION MANAGEMENT CORP. (IPM) 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 $6.1M, roughly 1.4× INTELLIGENT PROTECTION MANAGEMENT CORP.). On growth, INTELLIGENT PROTECTION MANAGEMENT CORP. posted the faster year-over-year revenue change (2091.6% vs -29.7%). Over the past eight quarters, INTELLIGENT PROTECTION MANAGEMENT CORP.'s revenue compounded faster (54.7% CAGR vs -12.5%).
Intelligent Limited is a Holding Company and Parent company headquartered in Gloucestershire, United Kingdom and was incorporated on 21 May 2008. Intelligent Limited provides a group management structure for four companies and was born out of the operations of International Intelligence Limited, a company specialising in Intelligence, Counter Espionage and TSCM sweeping.
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.
IPM vs SWKH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $6.1M | $8.7M |
| Net Profit | — | $-19.4M |
| Gross Margin | 53.1% | — |
| Operating Margin | -13.4% | 9.9% |
| Net Margin | — | — |
| Revenue YoY | 2091.6% | -29.7% |
| Net Profit YoY | — | -430.2% |
| EPS (diluted) | $-0.05 | $-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 | $6.1M | $8.7M | ||
| Q3 25 | $6.2M | $10.9M | ||
| Q2 25 | $5.7M | $10.1M | ||
| Q1 25 | $5.5M | $11.8M | ||
| Q4 24 | — | $12.4M | ||
| Q3 24 | — | $10.4M | ||
| Q2 24 | — | $10.8M | ||
| Q1 24 | — | $11.4M |
| Q4 25 | — | $-19.4M | ||
| Q3 25 | $-1.1M | $8.8M | ||
| Q2 25 | $-1.1M | $3.5M | ||
| Q1 25 | $808.5K | $4.5M | ||
| Q4 24 | — | $5.9M | ||
| Q3 24 | — | $3.5M | ||
| Q2 24 | — | $3.7M | ||
| Q1 24 | — | $468.0K |
| Q4 25 | 53.1% | — | ||
| Q3 25 | 50.7% | — | ||
| Q2 25 | 50.1% | — | ||
| Q1 25 | 55.3% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -13.4% | 9.9% | ||
| Q3 25 | -23.0% | 61.3% | ||
| Q2 25 | -19.7% | 46.1% | ||
| Q1 25 | -24.2% | 68.6% | ||
| Q4 24 | — | 44.7% | ||
| Q3 24 | — | 39.2% | ||
| Q2 24 | — | 8.3% | ||
| Q1 24 | — | 9.5% |
| Q4 25 | — | — | ||
| Q3 25 | -17.4% | 80.7% | ||
| Q2 25 | -18.3% | 35.2% | ||
| Q1 25 | 14.7% | 38.4% | ||
| Q4 24 | — | 47.5% | ||
| Q3 24 | — | 33.3% | ||
| Q2 24 | — | 33.9% | ||
| Q1 24 | — | 4.1% |
| Q4 25 | $-0.05 | $-1.59 | ||
| Q3 25 | $-0.08 | $0.72 | ||
| Q2 25 | $-0.08 | $0.29 | ||
| Q1 25 | $0.06 | $0.37 | ||
| Q4 24 | — | $0.47 | ||
| Q3 24 | — | $0.28 | ||
| Q2 24 | — | $0.30 | ||
| Q1 24 | — | $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 | $5.6M | $42.8M |
| Total DebtLower is stronger | — | $33.0M |
| Stockholders' EquityBook value | $18.2M | $235.1M |
| Total Assets | $26.0M | $272.4M |
| Debt / EquityLower = less leverage | — | 0.14× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.6M | $42.8M | ||
| Q3 25 | $7.3M | $10.2M | ||
| Q2 25 | $7.3M | $8.0M | ||
| Q1 25 | $9.7M | $29.8M | ||
| Q4 24 | — | $5.9M | ||
| Q3 24 | — | $17.2M | ||
| Q2 24 | — | $5.5M | ||
| Q1 24 | — | $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 | $18.2M | $235.1M | ||
| Q3 25 | $18.8M | $254.2M | ||
| Q2 25 | $19.9M | $246.5M | ||
| Q1 25 | $21.1M | $292.7M | ||
| Q4 24 | — | $288.7M | ||
| Q3 24 | — | $283.4M | ||
| Q2 24 | — | $282.8M | ||
| Q1 24 | — | $279.9M |
| Q4 25 | $26.0M | $272.4M | ||
| Q3 25 | $27.2M | $289.4M | ||
| Q2 25 | $29.8M | $285.7M | ||
| Q1 25 | $31.1M | $331.3M | ||
| Q4 24 | — | $332.2M | ||
| Q3 24 | — | $321.3M | ||
| Q2 24 | — | $321.0M | ||
| Q1 24 | — | $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 | $87.6K | $27.3M |
| Free Cash FlowOCF − Capex | — | $26.8M |
| FCF MarginFCF / Revenue | — | 308.1% |
| Capex IntensityCapex / Revenue | — | 5.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $43.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.6K | $27.3M | ||
| Q3 25 | $133.0K | $906.0K | ||
| Q2 25 | $-888.7K | $7.8M | ||
| Q1 25 | $1.7M | $8.3M | ||
| Q4 24 | — | $23.0M | ||
| Q3 24 | — | $6.3M | ||
| Q2 24 | — | $5.4M | ||
| Q1 24 | — | $4.4M |
| Q4 25 | — | $26.8M | ||
| Q3 25 | — | $557.0K | ||
| Q2 25 | — | $7.7M | ||
| Q1 25 | — | $8.2M | ||
| Q4 24 | — | $22.9M | ||
| Q3 24 | — | $6.3M | ||
| Q2 24 | — | $5.4M | ||
| Q1 24 | — | — |
| Q4 25 | — | 308.1% | ||
| Q3 25 | — | 5.1% | ||
| Q2 25 | — | 77.0% | ||
| Q1 25 | — | 69.1% | ||
| Q4 24 | — | 185.3% | ||
| Q3 24 | — | 60.4% | ||
| Q2 24 | — | 49.7% | ||
| Q1 24 | — | — |
| Q4 25 | — | 5.9% | ||
| Q3 25 | 0.0% | 3.2% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 0.2% | ||
| Q1 24 | — | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.10× | ||
| Q2 25 | — | 2.21× | ||
| Q1 25 | 2.16× | 1.82× | ||
| Q4 24 | — | 3.93× | ||
| Q3 24 | — | 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
IPM
| Procurement Revenue | $5.4M | 88% |
| Other | $743.9K | 12% |
SWKH
| Finance Receivables Segment | $8.4M | 96% |
| Other | $329.0K | 4% |
