Kingsway Q2 revenue up 11% to $26.2M; net loss narrows to $1.7M

KINGSWAY FINANCIAL SERVICES INC

2023-Q2 EPS reported $0.98 revenue$52,586,000

Consolidated revenue $26.2M (+11% YoY); net loss ($1.7M) improved from ($2.4M) prior year.
KSX revenue surged 121% to $9.2M, driven by CSuite and SNS acquisitions completed Nov 2022.
Extended Warranty revenue fell to $17.0M from $19.4M; higher claims severity hurt Trinity.
Adjusted EBITDA $1.8M vs $3.1M prior year (incl. PWSC); combined pro forma adj. EBITDA $3.4M.
Year-to-date warrant exercises 1.76M for $8.8M cash; $7.4M remaining under repurchase program.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

KINGSWAY FINANCIAL SERVICES INC reported financial results for three and six-month period ended June 30, 2023.

Period: three and six-month period ended June 30, 2023
Result: reported results

Exact text from the filing

On August 8, 2023, Kingsway Financial Services Inc. (the “Company”) issued a press release regarding its financial results for the three and six-month period ended June 30, 2023.

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KINGSWAY FINANCIAL SERVICES INC filing history →

Source: SEC EDGAR

accession 0001437749-23-022514

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