vs
Side-by-side financial comparison of NEPHROS INC (NEPH) 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 $4.7M, roughly 1.8× NEPHROS INC). On growth, NEPHROS INC posted the faster year-over-year revenue change (22.2% vs -29.7%). Over the past eight quarters, NEPHROS INC's revenue compounded faster (15.9% CAGR vs -12.5%).
Nephros Inc is a medical technology company that develops and commercializes high-performance water purification systems, infection control products, and renal care solutions. Its offerings are primarily used by hospitals, dialysis clinics, and long-term care facilities across North America to reduce waterborne pathogen risks and improve patient outcomes.
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.
NEPH vs SWKH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.7M | $8.7M |
| Net Profit | $62.0K | $-19.4M |
| Gross Margin | 58.4% | — |
| Operating Margin | 0.4% | 9.9% |
| Net Margin | 1.3% | — |
| Revenue YoY | 22.2% | -29.7% |
| Net Profit YoY | -82.2% | -430.2% |
| EPS (diluted) | $0.01 | $-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 | $4.7M | $8.7M | ||
| Q3 25 | $4.8M | $10.9M | ||
| Q2 25 | $4.4M | $10.1M | ||
| Q1 25 | $4.9M | $11.8M | ||
| Q4 24 | $3.9M | $12.4M | ||
| Q3 24 | $3.5M | $10.4M | ||
| Q2 24 | $3.3M | $10.8M | ||
| Q1 24 | $3.5M | $11.4M |
| Q4 25 | $62.0K | $-19.4M | ||
| Q3 25 | $337.0K | $8.8M | ||
| Q2 25 | $237.0K | $3.5M | ||
| Q1 25 | $558.0K | $4.5M | ||
| Q4 24 | $349.0K | $5.9M | ||
| Q3 24 | $183.0K | $3.5M | ||
| Q2 24 | $-289.0K | $3.7M | ||
| Q1 24 | $-169.0K | $468.0K |
| Q4 25 | 58.4% | — | ||
| Q3 25 | 61.2% | — | ||
| Q2 25 | 63.2% | — | ||
| Q1 25 | 64.7% | — | ||
| Q4 24 | 64.0% | — | ||
| Q3 24 | 61.1% | — | ||
| Q2 24 | 58.8% | — | ||
| Q1 24 | 62.1% | — |
| Q4 25 | 0.4% | 9.9% | ||
| Q3 25 | 6.6% | 61.3% | ||
| Q2 25 | 5.6% | 46.1% | ||
| Q1 25 | 11.6% | 68.6% | ||
| Q4 24 | 8.2% | 44.7% | ||
| Q3 24 | 5.9% | 39.2% | ||
| Q2 24 | -9.7% | 8.3% | ||
| Q1 24 | -5.7% | 9.5% |
| Q4 25 | 1.3% | — | ||
| Q3 25 | 7.1% | 80.7% | ||
| Q2 25 | 5.4% | 35.2% | ||
| Q1 25 | 11.4% | 38.4% | ||
| Q4 24 | 9.0% | 47.5% | ||
| Q3 24 | 5.2% | 33.3% | ||
| Q2 24 | -8.9% | 33.9% | ||
| Q1 24 | -4.8% | 4.1% |
| Q4 25 | $0.01 | $-1.59 | ||
| Q3 25 | $0.03 | $0.72 | ||
| Q2 25 | $0.02 | $0.29 | ||
| Q1 25 | $0.05 | $0.37 | ||
| Q4 24 | $0.04 | $0.47 | ||
| Q3 24 | $0.02 | $0.28 | ||
| Q2 24 | $-0.03 | $0.30 | ||
| Q1 24 | $-0.02 | $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 | $5.4M | $42.8M |
| Total DebtLower is stronger | — | $33.0M |
| Stockholders' EquityBook value | $10.2M | $235.1M |
| Total Assets | $13.6M | $272.4M |
| Debt / EquityLower = less leverage | — | 0.14× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.4M | $42.8M | ||
| Q3 25 | $5.2M | $10.2M | ||
| Q2 25 | $5.1M | $8.0M | ||
| Q1 25 | $4.1M | $29.8M | ||
| Q4 24 | $3.8M | $5.9M | ||
| Q3 24 | $2.5M | $17.2M | ||
| Q2 24 | $3.1M | $5.5M | ||
| Q1 24 | $3.6M | $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 | $10.2M | $235.1M | ||
| Q3 25 | $10.0M | $254.2M | ||
| Q2 25 | $9.6M | $246.5M | ||
| Q1 25 | $9.3M | $292.7M | ||
| Q4 24 | $8.6M | $288.7M | ||
| Q3 24 | $8.2M | $283.4M | ||
| Q2 24 | $7.9M | $282.8M | ||
| Q1 24 | $8.2M | $279.9M |
| Q4 25 | $13.6M | $272.4M | ||
| Q3 25 | $13.2M | $289.4M | ||
| Q2 25 | $12.2M | $285.7M | ||
| Q1 25 | $11.8M | $331.3M | ||
| Q4 24 | $11.2M | $332.2M | ||
| Q3 24 | $10.4M | $321.3M | ||
| Q2 24 | $11.1M | $321.0M | ||
| Q1 24 | $11.4M | $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 | $230.0K | $27.3M |
| Free Cash FlowOCF − Capex | — | $26.8M |
| FCF MarginFCF / Revenue | — | 308.1% |
| Capex IntensityCapex / Revenue | — | 5.9% |
| Cash ConversionOCF / Net Profit | 3.71× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $43.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $230.0K | $27.3M | ||
| Q3 25 | $99.0K | $906.0K | ||
| Q2 25 | $994.0K | $7.8M | ||
| Q1 25 | $322.0K | $8.3M | ||
| Q4 24 | $1.3M | $23.0M | ||
| Q3 24 | $-623.0K | $6.3M | ||
| Q2 24 | $-501.0K | $5.4M | ||
| Q1 24 | $-672.0K | $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 | — | 3.2% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | 0.0% | 0.3% | ||
| Q2 24 | — | 0.2% | ||
| Q1 24 | — | 0.0% |
| Q4 25 | 3.71× | — | ||
| Q3 25 | 0.29× | 0.10× | ||
| Q2 25 | 4.19× | 2.21× | ||
| Q1 25 | 0.58× | 1.82× | ||
| Q4 24 | 3.74× | 3.93× | ||
| Q3 24 | -3.40× | 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
NEPH
| Products | $4.6M | 98% |
| Other | $108.0K | 2% |
SWKH
| Finance Receivables Segment | $8.4M | 96% |
| Other | $329.0K | 4% |
