---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-22-026893"
form_type: "8-K"
ticker: "KFS"
cik: "0001072627"
company_name: "KINGSWAY FINANCIAL SERVICES INC"
filed_at: "2022-11-10T23:59:59+00:00"
generated_at: "2026-06-21T22:09:37.642936+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Kingsway Q3 net income $37.3M vs loss; sells PWSC for $51.2M, acquires CSuite

## Summary
- Net income of $37.3M in Q3 2022 vs net loss of $0.2M in Q3 2021; non-GAAP adjusted net income $2.6M vs $2.1M.
- Completed sale of PWSC subsidiary for $51.2M base price; net cash $37.2M, ~10x return on $5M investment.
- Entered option agreements to repurchase five trust preferred debt instruments for $59.4M (face $75.5M + deferred interest $19.3M).
- Acquired CSuite Financial Partners on Nov 1, 2022; second acquisition under Kingsway Search Xcelerator Program.
- Cash from operations for nine months $9.3M vs used $8.0M a year ago; cash balance $48.6M at Sept 30, 2022.

## SEC filing metadata
- accession: 0001437749-22-026893
- form_type: 8-K
- ticker: KFS
- cik: 0001072627
- company_name: KINGSWAY FINANCIAL SERVICES INC
- filed_at: 2022-11-10T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1072627/000143774922026893/0001437749-22-026893-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1072627/000143774922026893/kfs20220817_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-22-026893
- JSON: https://secwatch.observer/filing/0001437749-22-026893.json
- Plain text: https://secwatch.observer/filing/0001437749-22-026893.txt

## Key facts
- Earnings Releases
  KINGSWAY FINANCIAL SERVICES INC reported the three months ended September 30, 2022 results: net income $37.3 million.
  - Period: the three months ended September 30, 2022
  - Net income: $37.3 million
  - Result: reported results
  source text: Net income was $37.3 million, compared to net loss of ($0.2) million for the 2021 period
  evidence_url: https://www.sec.gov/Archives/edgar/data/1072627/000143774922026893/0001437749-22-026893-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.