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Side-by-side financial comparison of NextPlat Corp (NXPL) and SWK Holdings Corp (SWKH). Click either name above to swap in a different company.
NextPlat Corp is the larger business by last-quarter revenue ($12.8M vs $8.7M, roughly 1.5× SWK Holdings Corp). On growth, NextPlat Corp posted the faster year-over-year revenue change (-21.1% vs -29.7%). SWK Holdings Corp produced more free cash flow last quarter ($26.8M vs $-339.0K). Over the past eight quarters, SWK Holdings Corp's revenue compounded faster (-12.5% CAGR vs -14.4%).
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.
NXPL vs SWKH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $12.8M | $8.7M |
| Net Profit | $-5.1M | $-19.4M |
| Gross Margin | 14.3% | — |
| Operating Margin | -28.9% | 9.9% |
| Net Margin | -40.2% | — |
| Revenue YoY | -21.1% | -29.7% |
| Net Profit YoY | -70.6% | -430.2% |
| EPS (diluted) | — | $-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 | $12.8M | $8.7M | ||
| Q3 25 | $13.8M | $10.9M | ||
| Q2 25 | $13.2M | $10.1M | ||
| Q1 25 | $14.5M | $11.8M | ||
| Q4 24 | $16.2M | $12.4M | ||
| Q3 24 | $15.4M | $10.4M | ||
| Q2 24 | $17.0M | $10.8M | ||
| Q1 24 | $17.5M | $11.4M |
| Q4 25 | $-5.1M | $-19.4M | ||
| Q3 25 | $-2.2M | $8.8M | ||
| Q2 25 | $-1.8M | $3.5M | ||
| Q1 25 | $-1.3M | $4.5M | ||
| Q4 24 | $-3.0M | $5.9M | ||
| Q3 24 | $-4.2M | $3.5M | ||
| Q2 24 | $-5.3M | $3.7M | ||
| Q1 24 | $-1.5M | $468.0K |
| Q4 25 | 14.3% | — | ||
| Q3 25 | 19.9% | — | ||
| Q2 25 | 21.8% | — | ||
| Q1 25 | 23.8% | — | ||
| Q4 24 | 16.8% | — | ||
| Q3 24 | 23.2% | — | ||
| Q2 24 | 34.5% | — | ||
| Q1 24 | 27.8% | — |
| Q4 25 | -28.9% | 9.9% | ||
| Q3 25 | -14.5% | 61.3% | ||
| Q2 25 | -13.8% | 46.1% | ||
| Q1 25 | -10.2% | 68.6% | ||
| Q4 24 | -14.1% | 44.7% | ||
| Q3 24 | -52.1% | 39.2% | ||
| Q2 24 | -64.1% | 8.3% | ||
| Q1 24 | -10.5% | 9.5% |
| Q4 25 | -40.2% | — | ||
| Q3 25 | -15.9% | 80.7% | ||
| Q2 25 | -13.5% | 35.2% | ||
| Q1 25 | -9.2% | 38.4% | ||
| Q4 24 | -18.6% | 47.5% | ||
| Q3 24 | -27.4% | 33.3% | ||
| Q2 24 | -31.3% | 33.9% | ||
| Q1 24 | -8.5% | 4.1% |
| Q4 25 | — | $-1.59 | ||
| Q3 25 | — | $0.72 | ||
| Q2 25 | — | $0.29 | ||
| Q1 25 | $-0.05 | $0.37 | ||
| Q4 24 | — | $0.47 | ||
| Q3 24 | $-0.22 | $0.28 | ||
| Q2 24 | — | $0.30 | ||
| Q1 24 | $-0.08 | $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 | $13.7M | $42.8M |
| Total DebtLower is stronger | $1.3M | $33.0M |
| Stockholders' EquityBook value | $17.3M | $235.1M |
| Total Assets | $27.5M | $272.4M |
| Debt / EquityLower = less leverage | 0.07× | 0.14× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.7M | $42.8M | ||
| Q3 25 | $13.9M | $10.2M | ||
| Q2 25 | $16.6M | $8.0M | ||
| Q1 25 | $17.7M | $29.8M | ||
| Q4 24 | $20.0M | $5.9M | ||
| Q3 24 | $20.4M | $17.2M | ||
| Q2 24 | $24.9M | $5.5M | ||
| Q1 24 | $23.5M | $5.5M |
| Q4 25 | $1.3M | $33.0M | ||
| Q3 25 | $1.2M | $33.0M | ||
| Q2 25 | $1.2M | $33.0M | ||
| Q1 25 | $1.3M | $33.0M | ||
| Q4 24 | $1.4M | $33.0M | ||
| Q3 24 | $1.5M | $33.0M | ||
| Q2 24 | $1.3M | $33.0M | ||
| Q1 24 | $1.4M | $33.0M |
| Q4 25 | $17.3M | $235.1M | ||
| Q3 25 | $21.4M | $254.2M | ||
| Q2 25 | $23.5M | $246.5M | ||
| Q1 25 | $25.3M | $292.7M | ||
| Q4 24 | $27.3M | $288.7M | ||
| Q3 24 | $22.5M | $283.4M | ||
| Q2 24 | $26.5M | $282.8M | ||
| Q1 24 | $31.2M | $279.9M |
| Q4 25 | $27.5M | $272.4M | ||
| Q3 25 | $30.0M | $289.4M | ||
| Q2 25 | $31.0M | $285.7M | ||
| Q1 25 | $35.2M | $331.3M | ||
| Q4 24 | $37.1M | $332.2M | ||
| Q3 24 | $41.1M | $321.3M | ||
| Q2 24 | $51.5M | $321.0M | ||
| Q1 24 | $65.1M | $322.0M |
| Q4 25 | 0.07× | 0.14× | ||
| Q3 25 | 0.05× | 0.13× | ||
| Q2 25 | 0.05× | 0.13× | ||
| Q1 25 | 0.05× | 0.11× | ||
| Q4 24 | 0.05× | 0.11× | ||
| Q3 24 | 0.07× | 0.12× | ||
| Q2 24 | 0.05× | 0.12× | ||
| Q1 24 | 0.04× | 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 | $-302.0K | $27.3M |
| Free Cash FlowOCF − Capex | $-339.0K | $26.8M |
| FCF MarginFCF / Revenue | -2.6% | 308.1% |
| Capex IntensityCapex / Revenue | 0.3% | 5.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $43.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-302.0K | $27.3M | ||
| Q3 25 | $-2.7M | $906.0K | ||
| Q2 25 | $-1.0M | $7.8M | ||
| Q1 25 | $-2.1M | $8.3M | ||
| Q4 24 | $-476.0K | $23.0M | ||
| Q3 24 | $-4.6M | $6.3M | ||
| Q2 24 | $2.3M | $5.4M | ||
| Q1 24 | $-2.7M | $4.4M |
| Q4 25 | $-339.0K | $26.8M | ||
| Q3 25 | — | $557.0K | ||
| Q2 25 | $-1.1M | $7.7M | ||
| Q1 25 | $-2.1M | $8.2M | ||
| Q4 24 | $-508.0K | $22.9M | ||
| Q3 24 | $-4.7M | $6.3M | ||
| Q2 24 | $2.2M | $5.4M | ||
| Q1 24 | $-2.7M | — |
| Q4 25 | -2.6% | 308.1% | ||
| Q3 25 | — | 5.1% | ||
| Q2 25 | -8.0% | 77.0% | ||
| Q1 25 | -14.3% | 69.1% | ||
| Q4 24 | -3.1% | 185.3% | ||
| Q3 24 | -30.6% | 60.4% | ||
| Q2 24 | 13.2% | 49.7% | ||
| Q1 24 | -15.7% | — |
| Q4 25 | 0.3% | 5.9% | ||
| Q3 25 | 0.0% | 3.2% | ||
| Q2 25 | 0.1% | 0.6% | ||
| Q1 25 | 0.2% | 0.8% | ||
| Q4 24 | 0.2% | 1.1% | ||
| Q3 24 | 0.6% | 0.3% | ||
| Q2 24 | 0.4% | 0.2% | ||
| Q1 24 | 0.4% | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.10× | ||
| Q2 25 | — | 2.21× | ||
| Q1 25 | — | 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
NXPL
| Healthcare Operations | $9.0M | 70% |
| Ecommerce Revenue | $3.8M | 30% |
SWKH
| Finance Receivables Segment | $8.4M | 96% |
| Other | $329.0K | 4% |
