Highest-materiality recent filing
Kingsway Q1 revenue up 37% to $39M; adjusted EBITDA $2.4M; reiterates 3-5 acquisitions for 2026
Consolidated revenue grew 37% YoY to $39.0M; KSX revenue surged 81% to $21.1M.
Kingsway Q4 revenue up 30% to $38.6M; KSX revenue surges 63.6%; net loss $1.6M
Q4 consolidated revenue $38.6M (+30% YoY); full-year revenue $135.0M (+23.4%).
Kingsway Q3 revenue up 37% to $37.2M; KSX segment becomes majority of revenue for first time
Consolidated revenue $37.2M (+37% YoY); net loss $2.4M vs $2.3M in prior-year quarter.
Consolidated revenue $30.9M (+16.9% YoY); net loss $3.2M vs $2.2M loss prior year.
Kingsway acquires Roundhouse Electric for $22.35M enterprise value; financed with $11M term loan
Acquired Roundhouse Electric & Equipment for enterprise valuation of $22.35M; paid $3.5M in phantom equity and cash consideration.
Kingsway closes $15.7M PIPE, raises annual acquisition target to 3-5
Private placement of 1,336,264 shares at $11.75 each for gross proceeds of ~$15.7M.
Kingsway Q1 revenue rises 8.4% to $28.3M, net loss widens to $3.1M; two KSX acquisitions closed
Revenue $28.3M (+8.4% YoY); net loss $3.1M vs $2.3M loss prior year.
Kingsway appoints two new directors; affiliates hold 9.2% and 1.5% stakes
Adam Patinkin and Joshua Horowitz appointed to Board, effective March 31, 2025.
Kingsway FY2024 revenue +5.9% to $109.4M; net loss of $8.3M; acquires Bud's Plumbing
Revenue grew 5.9% to $109.4M; net loss $8.3M vs prior year net income of $24.0M (incl $31.6M debt extinguishment gain).
Kingsway Financial Services Raises $4.4 Million Through Private Placement of Class C Preferred Stock
Issued 176,756 shares of Class C Preferred Stock at $25 per share for initial proceeds of $4,418,900.
Kingsway Q3 revenue up 9.5% to $27.1M; adjusted EBITDA rises 27.8%; acquires Image Solutions
Consolidated revenue $27.1M (+9.5% YoY); Extended Warranty $17.8M (+3.4%), KSX $9.3M (+23.3%).
Kingsway raises $8.25M via preferred stock and acquires Image Solutions for $19.5M
Issued 330,000 shares of 8% cumulative Class B Preferred Stock at $25/share for $8.25M in private placement.
Kingsway Financial enters $15M term loan and $6M delayed draw facility with CIBC, matures 2029
New $15M 2024 Term Loan used to repay existing Term Loan, Delayed Draw Term Loan, and Revolving Note.
Kingsway Q1 revenue $26.2M (-0.9% YoY); net loss $2.3M vs prior-year net income of $27.9M
Revenue flat at $26.2M; Extended Warranty $16.7M (unchanged), KSX down 2.5% to $9.5M.
Kingsway 2023 revenue $103.2M (+11% YoY); net income $24M (+59%); adjusted EBITDA down 18%
Total revenue $103.2M (+11% YoY); net income $24M (+59%); consolidated adj. EBITDA $9.1M (-18%).
Revenue $103.2M (+11% YoY); net income $24M vs $15.1M; adjusted EBITDA $9.1M vs $11.1M.
Kingsway Buyer delivered written termination on Dec 23, 2023, citing uncured breaches by Seller and Shareholder.
Kingsway Q3 net loss $0.68/share; revenue up 11% to $24.8M; adjusted EBITDA down to $2.3M
Consolidated revenue up 11% to $24.8M; KSX revenue surged 97% to $7.5M on recent acquisitions.
Kingsway acquires Digital Diagnostics Imaging for $11M cash; expects immediate accretion
$11M all-cash acquisition of DDI, a cardiac telemetry monitoring provider, closed Oct 26, 2023.
Kingsway signs $7.9M deal to acquire 95% of National Institute of Clinical Research (NICR)
Total cash consideration $7,932,500 for 95% membership interest; $1M placed into escrow.
Kingsway acquires SPI (vertical market software) for cash; forms VMS platform
Acquired Systems Products International (SPI), a software provider for timeshare/vacation ownership; Drew Richard named CEO.
Kingsway Q2 revenue up 11% to $26.2M; net loss narrows to $1.7M
Consolidated revenue $26.2M (+11% YoY); net loss ($1.7M) improved from ($2.4M) prior year.
Kingsway Q1 net income $27.8M vs loss; revenue up 17% to $26.4M
Consolidated revenue $26.4M (+17% YoY); net income $27.8M vs net loss $2.5M in prior year.
2022 revenue grew 19% to $93.3M, net income surged 710% to $15.1M, adjusted EBITDA rose 42% to $10.2M.
Kingsway repurchases $74.6M trust preferred debt and $21M deferred interest; only $0.9M left
Repurchased $74.6M principal and $21M deferred interest at 60.8 cents on dollar for >20% IRR.
Kingsway FY2022 revenue $93.3M, turns profitable, sells railyard, two acquisitions
Revenue $93.3M (vs $78.4M in 2021); income from cont ops $30.1M vs loss $2.7M; Adj EBITDA $10.2M vs $7.1M.
Kingsway Financial subsidiary to repurchase $75.5M principal of trust preferred debt by March 15
KAI will repurchase all Series 1-5 TruPs for $56.5M total payment, including a $2.3M credit.
Kingsway to redeem all Class A Preferred Stock for ~$6.1M; enters $10M delayed draw term loan
Subsidiaries entered Second Amendment to Loan Agreement with CIBC Bank USA for $10M delayed draw term loan, maturing Dec 1, 2025.
Kingsway closes sale of Texas railyard for $215.2M, nets $21.4M in cash
Total sales price $215.2M includes $44.5M cash and $170.7M mortgage assumption by BNSF Dayton LLC.
Kingsway sells Texas railyard for $44.5M cash plus assumption of $171.2M in debt
TRT Leaseco (Kingsway subsidiary) agrees to sell Liberty County, TX railyard to BNSF Dayton LLC (BNSF affiliate).
Kingsway acquires Secure Nursing Service for $10.9M; expects immediate accretion
Purchase price $10.9M cash; SNS had $19.7M revenue, $2.6M GAAP pre-tax income, $2.7M adjusted EBITDA (TTM Jun 2022).
Kingsway Q3 net income $37.3M vs loss; sells PWSC for $51.2M, acquires CSuite
Net income of $37.3M in Q3 2022 vs net loss of $0.2M in Q3 2021; non-GAAP adjusted net income $2.6M vs $2.1M.
Kingsway acquires CSuite Financial Partners for $8.5M cash plus up to $3.55M earnout
Purchase price $8.5M cash (subject to adjustments), plus up to $3.55M earnout over 3 years based on gross profit targets.
Effective April 11, 2025, Charles Frischer. resigned as a director of Kingsway Financial Services Inc. (“Company”) and member of the Audit Committee.
On March 31, 2025, the Board of Directors (the “Board”) of Kingsway Financial Services Inc. (the “Company”) appointed Adam Patinkin and Joshua Horowitz as directors of the Company, with immediate effect.
On March 31, 2025, the Board of Directors (the “Board”) of Kingsway Financial Services Inc. (the “Company”) appointed Adam Patinkin and Joshua Horowitz as directors of the Company, with immediate effect.
appointed Charles Frischer as a director, increasing the size of the Board from six to seven members.
Max materiality 0.85 · Median 0.65 · Most common event earnings