Cannae reports Q3 net loss of $121M; records $392M impairment on Paysafe investment

Cannae Holdings, Inc.

2021-Q3 EPS reported -$1.97 revenue$355,700,000

Net loss attributable to common of $121.0M (EPS -$1.36) vs prior-year income of $131.9M (EPS $1.44); operating revenue $186.0M.
Recorded $391.8M other-than-temporary impairment on Paysafe (PSFE) investment; book value $418.8M vs cost $810.6M.
Book value per share fell to $39.36 from $41.22 at year-end 2020; total shareholder equity $3.5B.
Deployed $240M in Sightline Payments for ~33% stake; sold 1M Ceridian shares for $100M gross proceeds in Q3.
Year-to-date share repurchases of 2.73M shares for $96.5M; corporate cash $81M plus $600M undrawn credit facilities.

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