earnings
confidence high
sentiment negative
materiality 0.80
Cannae Q1 net loss $247.6M; $236M Paysafe impairment; book value per share falls to $35.79
Cannae Holdings, Inc.
2022-Q1 EPS reported
-$2.88
revenue$-97,800,000
- Net loss of $247.6M (EPS -$2.88); operating loss $75.6M on total revenue of $167.4M.
- Recorded $236M non-cash impairment on Paysafe investment due to fair value decline.
- Repurchased 2M shares for $54M at avg $26.96; board authorized 7.5M additional shares.
- Sold Optimal Blue for $578M (2.0x MOIC) in Feb 2022; received $144.5M cash and 21.8M DNB shares.
- Book value per share fell to $35.79 from $38.38 at Dec 31, 2021.