Loading...
•
Sep 30, 2021
Kingsway Financial Q3 2021 Earnings Report
Reported improved net loss and non-GAAP adjusted income, driven by operating improvements in extended warranty businesses and the acquisition of Ravix Financial Inc.
Key Takeaways
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.
Net loss improved to ($0.2) million for the three months ended September 30, 2021, from a net loss of ($1.1) million for the same period in 2020.
Non-GAAP adjusted income grew to $2.1 million for the three months ended September 30, 2021, compared to a non-GAAP adjusted loss of ($0.4) million for the same period in 2020.
Extended Warranty segment operating income increased to $1.4 million for the three months ended September 30, 2021 compared to $1.2 million for the same period in 2020.
Extended Warranty segment non-GAAP adjusted EBITDA improved to $1.5 million for the three months ended June 30, 2021, from $1.4 million for the same period in 2020.
Revenue by Segment
Forward Guidance
Kingsway's management expressed optimism about the company's future prospects, citing the strong quarter and the acquisition of Ravix Financial Inc.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...