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Side-by-side financial comparison of REED'S, INC. (REED) 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 $7.5M, roughly 1.2× REED'S, INC.). On growth, REED'S, INC. posted the faster year-over-year revenue change (-23.1% vs -29.7%). SWK Holdings Corp produced more free cash flow last quarter ($26.8M vs $-3.9M). Over the past eight quarters, REED'S, INC.'s revenue compounded faster (-11.7% CAGR vs -12.5%).
Waddell & Reed Financial, Inc. was an American asset management and financial planning company founded in 1937 in Kansas City, Missouri. It was a publicly traded company from 1998 to 2021, and briefly had its headquarters in Overland Park, Kansas, and was planning a move back to Downtown Kansas City before the company was sold. It operated asset management and distribution subsidiaries, including Ivy Investment Management Company and Waddell & Reed Investment Management Company.
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.
REED vs SWKH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.5M | $8.7M |
| Net Profit | $-3.8M | $-19.4M |
| Gross Margin | 20.4% | — |
| Operating Margin | -46.9% | 9.9% |
| Net Margin | -50.5% | — |
| Revenue YoY | -23.1% | -29.7% |
| Net Profit YoY | 8.2% | -430.2% |
| EPS (diluted) | $-1.26 | $-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 | $7.5M | $8.7M | ||
| Q3 25 | $7.0M | $10.9M | ||
| Q2 25 | $9.5M | $10.1M | ||
| Q1 25 | $10.0M | $11.8M | ||
| Q4 24 | $9.7M | $12.4M | ||
| Q3 24 | $6.8M | $10.4M | ||
| Q2 24 | $11.9M | $10.8M | ||
| Q1 24 | $9.6M | $11.4M |
| Q4 25 | $-3.8M | $-19.4M | ||
| Q3 25 | $-4.0M | $8.8M | ||
| Q2 25 | $-6.0M | $3.5M | ||
| Q1 25 | $-2.0M | $4.5M | ||
| Q4 24 | $-4.1M | $5.9M | ||
| Q3 24 | $-4.2M | $3.5M | ||
| Q2 24 | $-3.2M | $3.7M | ||
| Q1 24 | $-1.7M | $468.0K |
| Q4 25 | 20.4% | — | ||
| Q3 25 | 17.4% | — | ||
| Q2 25 | 8.5% | — | ||
| Q1 25 | 33.9% | — | ||
| Q4 24 | 30.0% | — | ||
| Q3 24 | 18.0% | — | ||
| Q2 24 | 32.3% | — | ||
| Q1 24 | 35.6% | — |
| Q4 25 | -46.9% | 9.9% | ||
| Q3 25 | -58.3% | 61.3% | ||
| Q2 25 | -60.8% | 46.1% | ||
| Q1 25 | -17.4% | 68.6% | ||
| Q4 24 | -37.6% | 44.7% | ||
| Q3 24 | -46.5% | 39.2% | ||
| Q2 24 | -5.6% | 8.3% | ||
| Q1 24 | -6.8% | 9.5% |
| Q4 25 | -50.5% | — | ||
| Q3 25 | -56.6% | 80.7% | ||
| Q2 25 | -63.5% | 35.2% | ||
| Q1 25 | -20.3% | 38.4% | ||
| Q4 24 | -42.3% | 47.5% | ||
| Q3 24 | -61.5% | 33.3% | ||
| Q2 24 | -27.1% | 33.9% | ||
| Q1 24 | -17.4% | 4.1% |
| Q4 25 | $-1.26 | $-1.59 | ||
| Q3 25 | $-0.48 | $0.72 | ||
| Q2 25 | $-0.13 | $0.29 | ||
| Q1 25 | $-0.04 | $0.37 | ||
| Q4 24 | $-3.73 | $0.47 | ||
| Q3 24 | $-4.91 | $0.28 | ||
| Q2 24 | $-0.77 | $0.30 | ||
| Q1 24 | $-0.40 | $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 | — | $42.8M |
| Total DebtLower is stronger | — | $33.0M |
| Stockholders' EquityBook value | $9.2M | $235.1M |
| Total Assets | $23.3M | $272.4M |
| Debt / EquityLower = less leverage | — | 0.14× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $42.8M | ||
| Q3 25 | — | $10.2M | ||
| Q2 25 | — | $8.0M | ||
| Q1 25 | — | $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 | $9.2M | $235.1M | ||
| Q3 25 | $2.8M | $254.2M | ||
| Q2 25 | $1.7M | $246.5M | ||
| Q1 25 | $4.7M | $292.7M | ||
| Q4 24 | $6.6M | $288.7M | ||
| Q3 24 | $-22.0M | $283.4M | ||
| Q2 24 | $-23.8M | $282.8M | ||
| Q1 24 | $-20.7M | $279.9M |
| Q4 25 | $23.3M | $272.4M | ||
| Q3 25 | $19.9M | $289.4M | ||
| Q2 25 | $23.7M | $285.7M | ||
| Q1 25 | $24.5M | $331.3M | ||
| Q4 24 | $25.1M | $332.2M | ||
| Q3 24 | $15.0M | $321.3M | ||
| Q2 24 | $18.7M | $321.0M | ||
| Q1 24 | $19.3M | $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 | $-3.8M | $27.3M |
| Free Cash FlowOCF − Capex | $-3.9M | $26.8M |
| FCF MarginFCF / Revenue | -52.0% | 308.1% |
| Capex IntensityCapex / Revenue | 1.1% | 5.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-17.3M | $43.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.8M | $27.3M | ||
| Q3 25 | $-2.8M | $906.0K | ||
| Q2 25 | $-5.0M | $7.8M | ||
| Q1 25 | $-5.4M | $8.3M | ||
| Q4 24 | $-3.9M | $23.0M | ||
| Q3 24 | $1.1M | $6.3M | ||
| Q2 24 | $-912.0K | $5.4M | ||
| Q1 24 | $-2.4M | $4.4M |
| Q4 25 | $-3.9M | $26.8M | ||
| Q3 25 | $-2.9M | $557.0K | ||
| Q2 25 | $-5.1M | $7.7M | ||
| Q1 25 | $-5.4M | $8.2M | ||
| Q4 24 | $-4.0M | $22.9M | ||
| Q3 24 | $1.0M | $6.3M | ||
| Q2 24 | $-924.0K | $5.4M | ||
| Q1 24 | $-2.4M | — |
| Q4 25 | -52.0% | 308.1% | ||
| Q3 25 | -41.5% | 5.1% | ||
| Q2 25 | -53.2% | 77.0% | ||
| Q1 25 | -54.2% | 69.1% | ||
| Q4 24 | -40.8% | 185.3% | ||
| Q3 24 | 15.3% | 60.4% | ||
| Q2 24 | -7.8% | 49.7% | ||
| Q1 24 | -25.1% | — |
| Q4 25 | 1.1% | 5.9% | ||
| Q3 25 | 1.4% | 3.2% | ||
| Q2 25 | 0.2% | 0.6% | ||
| Q1 25 | 0.7% | 0.8% | ||
| Q4 24 | 1.0% | 1.1% | ||
| Q3 24 | 0.3% | 0.3% | ||
| Q2 24 | 0.1% | 0.2% | ||
| Q1 24 | 0.2% | 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
REED
Segment breakdown not available.
SWKH
| Finance Receivables Segment | $8.4M | 96% |
| Other | $329.0K | 4% |
