Kingsway Financial Earnings Reports

Kingsway Financial Services reported a 9.5% increase in consolidated revenue, reaching $27.1 million for Q3 2024. However, the company experienced a net loss of $2.3 million. The company completed the acquisition of Image Solutions and saw revenue increases in both its Extended Warranty and KSX segments.

Kingsway Financial Services reported a slight increase in consolidated revenue, driven by growth in both Extended Warranty and KSX segments. However, the company experienced a consolidated net loss, which was larger than the loss in the prior year period. The company is actively managing its acquisition pipeline and remains focused on growing its portfolio.

Kingsway Financial Services reported a slight decrease in consolidated revenue and a net loss for the first quarter of 2024. Revenue was essentially flat, and EBITDA at the operating companies declined modestly. The company repurchased 8,000 shares of its common stock at a combined cost of $0.1 million.

Kingsway Financial Services Inc. reported its full-year 2023 financial results, highlighting an 11% increase in consolidated revenue to $103.2 million, driven primarily by growth in the Kingsway Search Xcelerator (KSX) business. The company made strategic acquisitions of SPI and DDI, expanding its portfolio. However, the Extended Warranty segment faced challenges due to macroeconomic conditions.

Kingsway Financial Services Inc. reported an 11% increase in consolidated revenue to $24.8 million for Q3 2023, driven by growth in the Kingsway Search Xcelerator (KSX) business. However, the company experienced a consolidated net loss of $0.68 million compared to a net income of $37.3 million in the prior year period, which included a significant gain from the sale of PWSC. Adjusted consolidated EBITDA was $2.3 million, down from $3.6 million in the prior year.

Kingsway Financial Services Inc. reported an 11% increase in consolidated revenue, reaching $26.2 million for the three months ended June 30, 2023. However, the company experienced a net loss of $1.7 million for the same period. The Kingsway Search Xcelerator (KSX) business showed significant growth, driven by recent acquisitions, while the Extended Warranty segment faced challenges due to higher vehicle service agreement claims.

Kingsway Financial Services Inc. reported a 17% increase in consolidated revenue to $26.4 million for Q1 2023, driven by a 131% increase in KSX revenue. The company achieved a net income of $27.8 million, a significant improvement from the prior year's net loss of $2.5 million. Adjusted consolidated EBITDA was $2.4 million, compared to $1.0 million in the prior year period.

Kingsway Financial Services Inc. reported solid financial results for 2022, highlighted by revenue growth, strategic acquisitions, and simplification of its capital structure through debt reduction and asset reallocation.

Kingsway Financial Services Inc. announced its operating results for the three months ended September 30, 2022, reporting a net income of $37.3 million and a non-GAAP adjusted income growth of more than 20% from the prior year quarter. The company completed the sale of PWSC for $51.2 million and entered into option agreements to repurchase five of its six trust preferred debt instruments for $59.4 million.

Kingsway Financial Services reported a net loss of $2.4 million for the three months ended June 30, 2022, while non-GAAP adjusted income was $2.1 million. The company also announced the sale of PWSC for $51.2 million and entered into an option agreement to repurchase a portion of its debt.

Kingsway Financial Services Inc. reported its Q1 2022 results, showing improved operating cash flow of $3.8 million and a net loss of $2.5 million. The company continued to pay down debt related to acquisition financing and expressed satisfaction with the underlying economics and trends in its businesses.

Kingsway Financial Services Inc. reported improved net income and non-GAAP adjusted income for the year ended December 31, 2021. The company saw significant operating improvements within its extended warranty businesses and made strategic acquisitions. Kingsway also focused on monetizing legacy assets and keeping non-strategic expenses in check.

Kingsway Financial Services Inc. reported improved financial results for the third quarter of 2021, with a reduced net loss and increased non-GAAP adjusted income. The company's extended warranty segment showed operating improvements, and the acquisition of Ravix Financial Inc. added a high-quality, asset-light business.

Kingsway Financial Services Inc. reported an improvement in net loss to ($0.3) million and a growth in non-GAAP adjusted income to $1 million for the three months ended June 30, 2021.

Kingsway Financial Services Inc. reported a net income of $0.9 million for the three months ended March 31, 2021, compared to a net loss of ($0.4) million for the same period in 2020. Non-GAAP adjusted income was $4.3 million, compared to a Non-GAAP adjusted loss of ($1.1) million in 2020. Extended Warranty operating income increased to $5.3 million.

Kingsway Financial Services Inc. reported a GAAP net loss of ($2.5) million and a non-GAAP adjusted income of $1.0 million for the three months ended December 31, 2020. The company also closed the acquisition of PWI Holdings, Inc. on December 1, 2020, further strengthening its position in the vehicle service contract and extended warranty industry.

Kingsway Financial Services reported a GAAP net loss of $1.1 million for the three months ended September 30, 2020, compared to a GAAP net loss of $4.0 million for the same period in 2019. Non-GAAP adjusted loss was $0.45 million, which included a $0.3 million tax benefit.

Kingsway Financial Services reported a breakeven operating income for the second quarter of 2020, a significant improvement compared to the operating loss in the same period of the previous year. The GAAP net loss was $1.4 million, while the non-GAAP adjusted loss improved to $0.5 million, benefiting from improvements in the Extended Warranty segment and cost-cutting measures. The Extended Warranty segment saw a decrease in service fee and commission income but an increase in operating income.