vs
Side-by-side financial comparison of SWK Holdings Corp (SWKH) and Velo3D, Inc. (VELO). Click either name above to swap in a different company.
Velo3D, Inc. is the larger business by last-quarter revenue ($9.4M vs $8.7M, roughly 1.1× SWK Holdings Corp). On growth, Velo3D, Inc. posted the faster year-over-year revenue change (-25.2% vs -29.7%). SWK Holdings Corp produced more free cash flow last quarter ($26.8M vs $-8.3M). Over the past eight quarters, Velo3D, Inc.'s revenue compounded faster (-1.8% CAGR vs -12.5%).
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.
Velo3D, Inc. develops and sells advanced end-to-end metal additive manufacturing (3D printing) solutions, comprising industrial-grade printers, specialized processing software, and high-performance metal materials. It primarily serves global aerospace, defense, energy, semiconductor and industrial manufacturing markets, enabling customers to produce complex, high-precision metal parts that are difficult to manufacture with traditional methods.
SWKH vs VELO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $8.7M | $9.4M |
| Net Profit | $-19.4M | $-21.9M |
| Gross Margin | — | -73.6% |
| Operating Margin | 9.9% | -231.0% |
| Net Margin | — | -231.9% |
| Revenue YoY | -29.7% | -25.2% |
| Net Profit YoY | -430.2% | -2.9% |
| EPS (diluted) | $-1.59 | $-0.87 |
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 | $8.7M | $9.4M | ||
| Q3 25 | $10.9M | $13.6M | ||
| Q2 25 | $10.1M | $13.6M | ||
| Q1 25 | $11.8M | $9.3M | ||
| Q4 24 | $12.4M | $12.6M | ||
| Q3 24 | $10.4M | $8.2M | ||
| Q2 24 | $10.8M | $10.3M | ||
| Q1 24 | $11.4M | $9.8M |
| Q4 25 | $-19.4M | $-21.9M | ||
| Q3 25 | $8.8M | $-11.2M | ||
| Q2 25 | $3.5M | $-13.3M | ||
| Q1 25 | $4.5M | $-25.0M | ||
| Q4 24 | $5.9M | $-21.3M | ||
| Q3 24 | $3.5M | $-21.9M | ||
| Q2 24 | $3.7M | $935.0K | ||
| Q1 24 | $468.0K | $-27.5M |
| Q4 25 | — | -73.6% | ||
| Q3 25 | — | 3.2% | ||
| Q2 25 | — | -11.7% | ||
| Q1 25 | — | 7.5% | ||
| Q4 24 | — | -3.5% | ||
| Q3 24 | — | 49.4% | ||
| Q2 24 | — | -28.0% | ||
| Q1 24 | — | -28.8% |
| Q4 25 | 9.9% | -231.0% | ||
| Q3 25 | 61.3% | -73.3% | ||
| Q2 25 | 46.1% | -85.4% | ||
| Q1 25 | 68.6% | -123.6% | ||
| Q4 24 | 44.7% | -167.0% | ||
| Q3 24 | 39.2% | -213.8% | ||
| Q2 24 | 8.3% | -187.7% | ||
| Q1 24 | 9.5% | -211.1% |
| Q4 25 | — | -231.9% | ||
| Q3 25 | 80.7% | -82.0% | ||
| Q2 25 | 35.2% | -97.7% | ||
| Q1 25 | 38.4% | -268.4% | ||
| Q4 24 | 47.5% | -168.5% | ||
| Q3 24 | 33.3% | -265.3% | ||
| Q2 24 | 33.9% | 9.0% | ||
| Q1 24 | 4.1% | -281.2% |
| Q4 25 | $-1.59 | $-0.87 | ||
| Q3 25 | $0.72 | $-0.65 | ||
| Q2 25 | $0.29 | $-0.94 | ||
| Q1 25 | $0.37 | $-1.87 | ||
| Q4 24 | $0.47 | $7.06 | ||
| Q3 24 | $0.28 | $-35.52 | ||
| Q2 24 | $0.30 | $1.65 | ||
| Q1 24 | $0.04 | $-55.51 |
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 | $39.0M |
| Total DebtLower is stronger | $33.0M | $31.0M |
| Stockholders' EquityBook value | $235.1M | $38.2M |
| Total Assets | $272.4M | $105.3M |
| Debt / EquityLower = less leverage | 0.14× | 0.81× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $42.8M | $39.0M | ||
| Q3 25 | $10.2M | $11.8M | ||
| Q2 25 | $8.0M | $854.0K | ||
| Q1 25 | $29.8M | $3.9M | ||
| Q4 24 | $5.9M | $1.2M | ||
| Q3 24 | $17.2M | $1.6M | ||
| Q2 24 | $5.5M | $3.2M | ||
| Q1 24 | $5.5M | $10.9M |
| Q4 25 | $33.0M | $31.0M | ||
| Q3 25 | $33.0M | $23.0M | ||
| Q2 25 | $33.0M | $22.5M | ||
| Q1 25 | $33.0M | $21.7M | ||
| Q4 24 | $33.0M | $5.7M | ||
| Q3 24 | $33.0M | $32.3M | ||
| Q2 24 | $33.0M | $33.5M | ||
| Q1 24 | $33.0M | $44.0M |
| Q4 25 | $235.1M | $38.2M | ||
| Q3 25 | $254.2M | $29.9M | ||
| Q2 25 | $246.5M | $21.4M | ||
| Q1 25 | $292.7M | $32.8M | ||
| Q4 24 | $288.7M | $39.7M | ||
| Q3 24 | $283.4M | $34.4M | ||
| Q2 24 | $282.8M | $52.1M | ||
| Q1 24 | $279.9M | $45.5M |
| Q4 25 | $272.4M | $105.3M | ||
| Q3 25 | $289.4M | $93.7M | ||
| Q2 25 | $285.7M | $78.4M | ||
| Q1 25 | $331.3M | $91.3M | ||
| Q4 24 | $332.2M | $89.2M | ||
| Q3 24 | $321.3M | $110.8M | ||
| Q2 24 | $321.0M | $116.7M | ||
| Q1 24 | $322.0M | $136.1M |
| Q4 25 | 0.14× | 0.81× | ||
| Q3 25 | 0.13× | 0.77× | ||
| Q2 25 | 0.13× | 1.05× | ||
| Q1 25 | 0.11× | 0.66× | ||
| Q4 24 | 0.11× | 0.14× | ||
| Q3 24 | 0.12× | 0.94× | ||
| Q2 24 | 0.12× | 0.64× | ||
| Q1 24 | 0.12× | 0.97× |
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 | $27.3M | $-7.7M |
| Free Cash FlowOCF − Capex | $26.8M | $-8.3M |
| FCF MarginFCF / Revenue | 308.1% | -88.3% |
| Capex IntensityCapex / Revenue | 5.9% | 6.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $43.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.3M | $-7.7M | ||
| Q3 25 | $906.0K | $-6.0M | ||
| Q2 25 | $7.8M | $-1.2M | ||
| Q1 25 | $8.3M | $-12.3M | ||
| Q4 24 | $23.0M | $-2.2M | ||
| Q3 24 | $6.3M | $-2.0M | ||
| Q2 24 | $5.4M | $-8.0M | ||
| Q1 24 | $4.4M | $-20.5M |
| Q4 25 | $26.8M | $-8.3M | ||
| Q3 25 | $557.0K | $-6.3M | ||
| Q2 25 | $7.7M | $-3.0M | ||
| Q1 25 | $8.2M | — | ||
| Q4 24 | $22.9M | $-2.2M | ||
| Q3 24 | $6.3M | $-2.0M | ||
| Q2 24 | $5.4M | $-8.0M | ||
| Q1 24 | — | $-20.5M |
| Q4 25 | 308.1% | -88.3% | ||
| Q3 25 | 5.1% | -46.5% | ||
| Q2 25 | 77.0% | -22.2% | ||
| Q1 25 | 69.1% | — | ||
| Q4 24 | 185.3% | -17.7% | ||
| Q3 24 | 60.4% | -24.2% | ||
| Q2 24 | 49.7% | -77.1% | ||
| Q1 24 | — | -209.8% |
| Q4 25 | 5.9% | 6.4% | ||
| Q3 25 | 3.2% | 2.3% | ||
| Q2 25 | 0.6% | 13.3% | ||
| Q1 25 | 0.8% | 0.0% | ||
| Q4 24 | 1.1% | 0.2% | ||
| Q3 24 | 0.3% | 0.2% | ||
| Q2 24 | 0.2% | 0.0% | ||
| Q1 24 | 0.0% | 0.1% |
| 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× | -8.52× | ||
| Q1 24 | 9.47× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SWKH
| Finance Receivables Segment | $8.4M | 96% |
| Other | $329.0K | 4% |
VELO
Segment breakdown not available.
