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Side-by-side financial comparison of SWK Holdings Corp (SWKH) and Zedge, Inc. (ZDGE). Click either name above to swap in a different company.
SWK Holdings Corp is the larger business by last-quarter revenue ($8.7M vs $7.6M, roughly 1.1× Zedge, Inc.). On growth, Zedge, Inc. posted the faster year-over-year revenue change (5.8% vs -29.7%). SWK Holdings Corp produced more free cash flow last quarter ($26.8M vs $808.0K). Over the past eight quarters, Zedge, Inc.'s revenue compounded faster (-1.0% 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.
Zedge is a content distribution platform that provides consumers with a way to personalize their mobile devices. It has offices in Trondheim, Vilnius, and New York City.
SWKH vs ZDGE — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $8.7M | $7.6M |
| Net Profit | $-19.4M | $788.0K |
| Gross Margin | — | — |
| Operating Margin | 9.9% | 12.0% |
| Net Margin | — | 10.4% |
| Revenue YoY | -29.7% | 5.8% |
| Net Profit YoY | -430.2% | 332.4% |
| EPS (diluted) | $-1.59 | $0.06 |
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 | $7.6M | ||
| Q3 25 | $10.9M | $7.5M | ||
| Q2 25 | $10.1M | $7.8M | ||
| Q1 25 | $11.8M | $7.0M | ||
| Q4 24 | $12.4M | $7.2M | ||
| Q3 24 | $10.4M | $7.6M | ||
| Q2 24 | $10.8M | $7.7M | ||
| Q1 24 | $11.4M | $7.8M |
| Q4 25 | $-19.4M | $788.0K | ||
| Q3 25 | $8.8M | $-559.0K | ||
| Q2 25 | $3.5M | $185.0K | ||
| Q1 25 | $4.5M | $-1.7M | ||
| Q4 24 | $5.9M | $-339.0K | ||
| Q3 24 | $3.5M | $-39.0K | ||
| Q2 24 | $3.7M | $113.0K | ||
| Q1 24 | $468.0K | $-9.2M |
| Q4 25 | 9.9% | 12.0% | ||
| Q3 25 | 61.3% | -9.6% | ||
| Q2 25 | 46.1% | 2.1% | ||
| Q1 25 | 68.6% | -31.8% | ||
| Q4 24 | 44.7% | -6.4% | ||
| Q3 24 | 39.2% | -0.8% | ||
| Q2 24 | 8.3% | -1.7% | ||
| Q1 24 | 9.5% | -153.5% |
| Q4 25 | — | 10.4% | ||
| Q3 25 | 80.7% | -7.5% | ||
| Q2 25 | 35.2% | 2.4% | ||
| Q1 25 | 38.4% | -24.1% | ||
| Q4 24 | 47.5% | -4.7% | ||
| Q3 24 | 33.3% | -0.5% | ||
| Q2 24 | 33.9% | 1.5% | ||
| Q1 24 | 4.1% | -118.8% |
| Q4 25 | $-1.59 | $0.06 | ||
| Q3 25 | $0.72 | $-0.04 | ||
| Q2 25 | $0.29 | $0.01 | ||
| Q1 25 | $0.37 | $-0.12 | ||
| Q4 24 | $0.47 | $-0.02 | ||
| Q3 24 | $0.28 | $0.00 | ||
| Q2 24 | $0.30 | $0.01 | ||
| Q1 24 | $0.04 | $-0.66 |
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 | $18.5M |
| Total DebtLower is stronger | $33.0M | — |
| Stockholders' EquityBook value | $235.1M | $25.9M |
| Total Assets | $272.4M | $36.0M |
| Debt / EquityLower = less leverage | 0.14× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $42.8M | $18.5M | ||
| Q3 25 | $10.2M | $18.6M | ||
| Q2 25 | $8.0M | $20.4M | ||
| Q1 25 | $29.8M | $20.1M | ||
| Q4 24 | $5.9M | $20.2M | ||
| Q3 24 | $17.2M | $20.0M | ||
| Q2 24 | $5.5M | $19.9M | ||
| Q1 24 | $5.5M | $18.1M |
| 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 | $235.1M | $25.9M | ||
| Q3 25 | $254.2M | $25.9M | ||
| Q2 25 | $246.5M | $28.6M | ||
| Q1 25 | $292.7M | $28.2M | ||
| Q4 24 | $288.7M | $30.1M | ||
| Q3 24 | $283.4M | $30.9M | ||
| Q2 24 | $282.8M | $30.9M | ||
| Q1 24 | $279.9M | $30.7M |
| Q4 25 | $272.4M | $36.0M | ||
| Q3 25 | $289.4M | $35.7M | ||
| Q2 25 | $285.7M | $37.8M | ||
| Q1 25 | $331.3M | $37.1M | ||
| Q4 24 | $332.2M | $38.2M | ||
| Q3 24 | $321.3M | $38.2M | ||
| Q2 24 | $321.0M | $38.1M | ||
| Q1 24 | $322.0M | $37.1M |
| 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 | $27.3M | $825.0K |
| Free Cash FlowOCF − Capex | $26.8M | $808.0K |
| FCF MarginFCF / Revenue | 308.1% | 10.6% |
| Capex IntensityCapex / Revenue | 5.9% | 0.2% |
| Cash ConversionOCF / Net Profit | — | 1.05× |
| TTM Free Cash FlowTrailing 4 quarters | $43.2M | $3.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.3M | $825.0K | ||
| Q3 25 | $906.0K | $674.0K | ||
| Q2 25 | $7.8M | $870.0K | ||
| Q1 25 | $8.3M | $708.0K | ||
| Q4 24 | $23.0M | $1.2M | ||
| Q3 24 | $6.3M | $695.0K | ||
| Q2 24 | $5.4M | $2.3M | ||
| Q1 24 | $4.4M | $1.6M |
| Q4 25 | $26.8M | $808.0K | ||
| Q3 25 | $557.0K | $640.0K | ||
| Q2 25 | $7.7M | $851.0K | ||
| Q1 25 | $8.2M | $689.0K | ||
| Q4 24 | $22.9M | $1.2M | ||
| Q3 24 | $6.3M | $683.0K | ||
| Q2 24 | $5.4M | $2.3M | ||
| Q1 24 | — | $1.6M |
| Q4 25 | 308.1% | 10.6% | ||
| Q3 25 | 5.1% | 8.6% | ||
| Q2 25 | 77.0% | 11.0% | ||
| Q1 25 | 69.1% | 9.9% | ||
| Q4 24 | 185.3% | 16.1% | ||
| Q3 24 | 60.4% | 9.0% | ||
| Q2 24 | 49.7% | 30.4% | ||
| Q1 24 | — | 20.0% |
| Q4 25 | 5.9% | 0.2% | ||
| Q3 25 | 3.2% | 0.5% | ||
| Q2 25 | 0.6% | 0.2% | ||
| Q1 25 | 0.8% | 0.3% | ||
| Q4 24 | 1.1% | 0.2% | ||
| Q3 24 | 0.3% | 0.2% | ||
| Q2 24 | 0.2% | 0.2% | ||
| Q1 24 | 0.0% | 0.0% |
| Q4 25 | — | 1.05× | ||
| Q3 25 | 0.10× | — | ||
| Q2 25 | 2.21× | 4.70× | ||
| Q1 25 | 1.82× | — | ||
| Q4 24 | 3.93× | — | ||
| Q3 24 | 1.82× | — | ||
| Q2 24 | 1.47× | 20.73× | ||
| 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% |
ZDGE
| Zedge Marketplace | $7.1M | 94% |
| Other | $468.0K | 6% |
