Kingsway 2023 revenue $103.2M (+11% YoY); net income $24M (+59%); adjusted EBITDA down 18%

KINGSWAY FINANCIAL SERVICES INC

Total revenue $103.2M (+11% YoY); net income $24M (+59%); consolidated adj. EBITDA $9.1M (-18%).
Extended Warranty segment revenue down 1.3%, adj. EBITDA down 21% on higher claims; price increases rolling out.
KSX segment acquired SPI (vertical software) and DDI (cardiac monitoring); added 4 new OIRs; NOLs $623M.
Retired $96.7M TruPs at ~61% of par; reduced segment debt $9.1M; repurchased 423K shares and 1.09M warrants.
Share buyback plan extended through 2025; investor day scheduled May 20, 2024 at NYSE.

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