Kingsway Q3 revenue up 9.5% to $27.1M; adjusted EBITDA rises 27.8%; acquires Image Solutions

KINGSWAY FINANCIAL SERVICES INC

2024-Q3 EPS reported -$0.28 revenue$79,742,000

Consolidated revenue $27.1M (+9.5% YoY); Extended Warranty $17.8M (+3.4%), KSX $9.3M (+23.3%).
Net loss of $2.3M vs $0.7M loss a year ago; adjusted consolidated EBITDA $2.9M (+27.8%).
Acquired Image Solutions (IT MSP) for $19.5M all-cash; issued $8.25M convertible preferred stock to fund.
Year-to-date repurchased 312,850 shares for $2.5M; purchased remaining 10% of IWS for $2.5M.
Run-rate adjusted EBITDA for operating companies $18.5M-$19.5M; net debt $52.0M vs $35.3M.

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