---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-030647"
form_type: "8-K"
ticker: "KFS"
cik: "0001072627"
company_name: "KINGSWAY FINANCIAL SERVICES INC"
filed_at: "2023-11-07T23:59:59+00:00"
generated_at: "2026-06-08T13:17:04.914041+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Kingsway Q3 net loss $0.68/share; revenue up 11% to $24.8M; adjusted EBITDA down to $2.3M

## Summary
- Consolidated revenue up 11% to $24.8M; KSX revenue surged 97% to $7.5M on recent acquisitions.
- Net loss of $0.68 per share vs net income of $37.3M in Q3 2022 (included $37.9M gain on sale of PWSC).
- Adjusted EBITDA fell to $2.3M from $3.6M; Extended Warranty profitability impacted by higher claims.
- Closed two all-cash acquisitions (SPI for $2.8M, DDI for $11.0M) and announced NICR deal for $7.9M.
- Warrants fully exercised; repurchased 1.09M warrants and 0.25M shares for $5.9M YTD through Oct 31.

## SEC filing metadata
- accession: 0001437749-23-030647
- form_type: 8-K
- ticker: KFS
- cik: 0001072627
- company_name: KINGSWAY FINANCIAL SERVICES INC
- filed_at: 2023-11-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1072627/000143774923030647/0001437749-23-030647-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1072627/000143774923030647/kfs20230822_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-030647
- JSON: https://secwatch.observer/filing/0001437749-23-030647.json
- Plain text: https://secwatch.observer/filing/0001437749-23-030647.txt

## Key facts
- Earnings Releases
  KINGSWAY FINANCIAL SERVICES INC reported three and nine months ended September 30, 2023 results: revenue $24.8 million, EPS $0.68.
  - Period: three and nine months ended September 30, 2023
  - Revenue: $24.8 million
  - EPS: $0.68
  - Result: reported results
  source text: Consolidated revenue increased 11% to $24.8 million for the three months ended September 30, 2023, compared to $22.4 million in prior year period
  evidence_url: https://www.sec.gov/Archives/edgar/data/1072627/000143774923030647/0001437749-23-030647-index.htm

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