---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-005798"
form_type: "8-K"
ticker: "KFS"
cik: "0001072627"
company_name: "KINGSWAY FINANCIAL SERVICES INC"
filed_at: "2023-03-08T23:59:59+00:00"
generated_at: "2026-06-18T08:12:43.149341+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Kingsway FY2022 revenue $93.3M, turns profitable, sells railyard, two acquisitions

## Summary
- Revenue $93.3M (vs $78.4M in 2021); income from cont ops $30.1M vs loss $2.7M; Adj EBITDA $10.2M vs $7.1M.
- Sold Texas railyard for $215.2M ($44.5M cash, $170.7M mortgage assumption), net $21.4M to Kingsway.
- Acquired Secure Nursing Service ($10.9M) and CSuite Financial Partners ($8.5M), both accretive.
- Unrestricted cash $64.2M (vs $10.1M Dec 2021); amended debt facility for up to $10M additional.
- Announced repurchase of 100% of principal & deferred interest on five of six trust preferred debt.

## SEC filing metadata
- accession: 0001437749-23-005798
- form_type: 8-K
- ticker: KFS
- cik: 0001072627
- company_name: KINGSWAY FINANCIAL SERVICES INC
- filed_at: 2023-03-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1072627/000143774923005798/0001437749-23-005798-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1072627/000143774923005798/kfs20221121_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-005798
- JSON: https://secwatch.observer/filing/0001437749-23-005798.json
- Plain text: https://secwatch.observer/filing/0001437749-23-005798.txt

## Key facts
- Earnings Releases
  KINGSWAY FINANCIAL SERVICES INC reported the 12 months ended December 31, 2022 results: revenue $93.3 million, net income $30.1 million.
  - Period: the 12 months ended December 31, 2022
  - Revenue: $93.3 million
  - Net income: $30.1 million
  - Result: reported results
  source text: Total revenue was $93.3 million for 2022, compared to $78.4 million for 2021, and now consists of just Extended Warranty and Kingsway Search Xcelerator (“KSX”) segment revenues
  evidence_url: https://www.sec.gov/Archives/edgar/data/1072627/000143774923005798/0001437749-23-005798-index.htm

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