Kingsway Financial Services

Kingsway Financial Services, Inc. operates as a holding company. The firm engages in the provision of financial services. It operates through the following segments: Extended Warranty and Leased Real Estate. The Extended Warranty segment provides after-market vehicle protection services distributed by credit unions. The Leased Real Estate segment leases a real property to a third party pursuant to a long-term triple net lease. The company was founded on September 19, 1989 and is headquartered in Chicago, IL.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Kingsway Financial Services reports strong 2022 performance and growth prospects

KFS's 2022 performance reflects a strategic shift towards operational efficiency, growth, and financial stability, supported by positive market reception and improved financial results.
While challenges like managing debt levels persist, the company's strengths in balance sheet management, strategic acquisitions, and operational performance position it well for future growth.
Opportunities lie in leveraging recent acquisitions, attracting talent, and utilizing available financial resources to drive innovation, expansion, and value creation.

Kingsway Financial Services excels in Q1 2023, eyes strategic growth

KFS delivered robust financial performance in Q1 2023, emphasizing balance sheet strength and growth initiatives. The company's focus on strategic capital allocation, share repurchases, and new acquisitions positions it well for future expansion.

Kingsway Financial Services reports solid Q2 growth and acquisition focus

KFS delivered strong Q2 performance with revenue and adjusted EBITDA growth.
Strategic focus on acquisitions, debt reduction, and maintaining a robust acquisition pipeline.
Challenges in Extended Warranty segment offset by opportunities in Search Xcelerator and KSX segments.

KFS reports mixed Q3 results, eyes sustained growth post-acquisitions

KFS reported mixed Q3 results with revenue growth but lower adjusted EBITDA, impacted by claims and macroeconomic challenges.
Recent acquisitions and a focus on operational excellence present opportunities for sustained growth and increased EBITDA run rate.
Challenges include distractions in business development and the need to carefully manage interest coverage for acquisition pipeline stability.

Kingsway Financial Services reports solid 2023 results and eyes growth

Kingsway Financial Services delivered strong financial results in 2023, with successful acquisitions driving growth and demonstrating potential for further expansion. Despite challenges in the Extended Warranty segment, the company's strategic initiatives and focus on financial stability position it well for future opportunities in software and healthcare markets.

Kingsway Financial Services reports steady Q1 performance and eyes acquisitions

KFS's Q1 2024 performance was stable, with growth in the KSX segment and challenges in the extended warranty segment. The company is optimistic about future financial results, aiming for new acquisitions and maintaining a strong cash position.

Kingsway Financial Services reports revenue and EBITDA growth in Q2

KFS demonstrated overall revenue and EBITDA growth across segments, reflecting a positive operational performance.
Strategic acquisitions and focus on maintaining EBITDA levels indicate a forward-looking growth strategy.
While challenges exist in debt management and operational integration, opportunities in revenue expansion and profitability are evident.

Kingsway Financial Services reports robust Q3 growth and strategic acquisitions

KFS delivered a strong Q3 performance with revenue and EBITDA growth, driven by Extended Warranty and KSX segments.
Acquisition of Image Solutions and new OIR Rob Casper's appointment signal strategic growth initiatives and market resilience.
While challenges like warranty yield reduction exist, KFS is well-positioned to capitalize on opportunities for expansion and market presence.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

ITASCA, Ill. , Aug. 4, 2022 /PRNewswire/ - (NYSE: KFS) Kingsway Financial Services Inc. ("Kingsway" or the "Company") today announced its operating results for the three and six months ended June 30, 2022; the sale of PWSC for $51.2 million; entrance into an Option Agreement to repurchase a portion of its debt.

KINGSWAY REPORTS SECOND QUARTER 2022 RESULTS AND ANNOUNCES SALE OF PWSC FOR $51.2 MILLION, ENTRANCE INTO AN OPTION AGREEMENT TO REPURCHASE A PORTION OF ITS DEBT

ITASCA, Ill. , May 20, 2022 /PRNewswire/ - (NYSE: KFS) Kingsway Financial Services Inc. ("Kingsway" or the "Company") announced today that Charles Frischer was appointed to its Board of Directors.

KINGSWAY ANNOUNCES EXPANSION OF BOARD - APPOINTMENT OF NEW DIRECTOR

ITASCA, Ill. , May 6, 2022 /PRNewswire/ - (NYSE: KFS) Kingsway Financial Services Inc. ("Kingsway" or the "Company") today announced its operating results for the three months ended March 31, 2022.

KINGSWAY REPORTS FIRST QUARTER 2022 RESULTS

ITASCA, Ill. , April 14, 2022 /PRNewswire/ - (NYSE: KFS) In furtherance of its strategy of focusing on core operations and acquisitions, Kingsway Financial Services Inc. ("Kingsway" or the "Company") today announces the creation of a Strategic Advisory Board to the newly formed Kingsway Search Xcelerator ("KSX") segment, which includes the unique CEO Accelerator program.

KINGSWAY ANNOUNCES FORMATION OF STRATEGIC ADVISORY BOARD TO THE KINGSWAY SEARCH XCELERATOR SEGMENT - WELCOMES THOMAS P. JOYCE, JR.

ITASCA, ILL., Feb. 28, 2022 /PRNewswire/ - (NYSE: KFS) Kingsway Financial Services Inc. ("Kingsway" or the "Company") today announced its operating results for the twelve months ended December 31, 2021, which include the following highlights: Net income improved to $1.9 million for the twelve months ended December 31, 2021, from a net loss of ($5.4) million for the same period in 2020, despite the fact the Company recorded a non-cash, cumulative adjustment to net income of $0.5 million in the September 2021 quarter relating to its finalization of the purchase accounting for PWI (see further discussion in the annual shareholder letter) Non-GAAP adjusted income grew to $11.7 million for the twelve months ended December 31, 2021, compared to a non-GAAP adjusted loss of ($0.6) million for the same period in 2020 The Company acquired Ravix Financial Inc. ("Ravix") on October 1, 2021.

KINGSWAY REPORTS FULL YEAR 2021 RESULTS - PUBLISHES ANNUAL SHAREHOLDER LETTER

ITASCA, Ill., Nov. 4, 2021 /PRNewswire/ - (NYSE: KFS) Kingsway Financial Services Inc. ("Kingsway" or the "Company") today announced its operating results for the three and nine months ended September 30, 2021, which includes the following highlights: Net loss improved to ($0.2) million for the three months ended September 30, 2021, from a net loss of ($1.1) million for the same period in 2020, despite the fact the Company recorded a non-cash, current period cumulative adjustment to net loss of $0.5 million in the September 2021 quarter relating to its finalization of the purchase accounting for PWI (see further discussion below) Non-GAAP adjusted income grew to $2.1 million for the three months ended September 30, 2021, compared to a non-GAAP adjusted loss of ($0.4) million for the same period in 2020 Extended Warranty segment operating income increased to $1.4 million for the three months ended September 30, 2021 compared to $1.2 million for the same period in 2020, despite the fact the Company recorded a non-cash, current period cumulative reduction to revenue of $1.9 million in the September 2021 quarter relating to its finalization of the purchase accounting for PWI (see further discussion below) Extended Warranty segment non-GAAP adjusted EBITDA improved to $1.5 million for the three months ended June 30, 2021, from $1.4 million for the same period in 2020, despite the fact the Company recorded a non-cash, current period cumulative reduction to service fee and commission revenue of $1.9 million in the September 2021 quarter relating to its finalization of the purchase accounting for PWI (see further discussion below) Cash provided by operating activities was $3.5 million for the three months ended September 30,2021, compared to $1.4 million for the three months ended September 30,2020.

Kingsway Reports Third Quarter 2021 Results

ITASCA, Ill.--(BUSINESS WIRE)--(NYSE: KFS) Kingsway Financial Services Inc. (“Kingsway”) today announced the acquisition of the privately-held company Ravix Financial Inc. (“Ravix”), the first such acquisition completed under Kingsway's unique CEO Accelerator Program. Ravix, based in San Jose, California (www.ravixgroup.com) provides outsourced financial services and HR consulting for short or long duration engagements. “I am excited to welcome the Ravix team to the Kingsway family of companies

Kingsway Expands Into Accounting & HR Outsourcing

ITASCA, Ill.--(BUSINESS WIRE)---- $KFS #IR--(NYSE: KFS) Kingsway Financial Services Inc. (“Kingsway” or the “Company”) today announced that the Company will host an Investor Day on Wednesday, October 6, 2021. Management will discuss a range of topics covering all aspects of the Company's operations, long-term growth strategy, and financial structure. Prepared presentations will begin at 10:00 a.m. (Eastern Time) followed by a Q&A session. Event Location / Details The event will take place at the New Yor

Kingsway to Host 2021 Investor Day on Wednesday, October 6, 2021

ITASCA, Ill., Aug. 5, 2021 /PRNewswire/ - (NYSE: KFS) Kingsway Financial Services Inc. ("Kingsway" or the "Company") today announced its operating results for the three and six months ended June 30, 2021, which includes the following highlights: Net loss improved to ($0.3) million for the three months ended June 30, 2021, from a net loss of ($1.4) million for the same period in 2020 Non-GAAP adjusted income grew to $1 million for the three months ended June 30, 2021, compared to a non-GAAP adjusted loss of ($0.5) million for the same period in 2020 Extended Warranty segment operating income increased to $2.6 million for the three months ended June 30, 2021 compared to $1.3 million for the same period in 2020, Extended Warranty segment non-GAAP adjusted EBITDA improved to $2.7 million for the three months ended June 30, 2021, from $1.4 million for the same period in 2020 Refer to "Second Quarter Cash Flows" below for an explanation regarding a one-time, $11.7 million current quarter cash outflow to operating cash flows.

Kingsway Reports Second Quarter 2021 Results

ITASCA, Ill., May 12, 2021 /PRNewswire/ - (NYSE: KFS) Kingsway Financial Services Inc. ("Kingsway" or the "Company") today announced its operating results for the three months ended March 31, 2021, which includes the following highlights: Net income was $0.9 million for the three months ended March 31, 2021, compared to a net loss of ($0.4) million for the same period in 2020; Non-GAAP adjusted income was $4.3 million for the three months ended March 31, 2021, compared to Non-GAAP adjusted loss of ($1.1) million for the same period in 2020; Extended Warranty operating income increased to $5.3 million for the three months ended March 31, 2021 compared to $0.9 million for the same period in 2020, while non-GAAP adjusted EBITDA increased to $5.4 million for the three months ended March 31, 2021, compared to $1.2 million for  the same period for 2019.

Kingsway Reports First Quarter 2021 Results

ITASCA, Ill., March 26, 2021 /PRNewswire/ - (NYSE: KFS) Kingsway Financial Services Inc. ("Kingsway" or the "Company") today announced its operating results for the three and twelve months ended December 31, 2020, which includes the following highlights: Extended Warranty operating income increased 35% for the twelve months ended December 31, 2020 compared to the same period for 2019, while non-GAAP adjusted EBITDA increased 27% for the twelve months ended December 31, 2020, compared to the same period for 2019; both increases were partially driven by the acquisition of PWI on December 1, 2020; Net cash provided by operating activities improved to $1.7 million for the twelve months ended December 31, 2020, compared to cash used in operating activities of ($0.8) million during the same period in 2019; GAAP net loss was ($2.5) million and ($5.4) million for the three and twelve months ended December 31, 2020, compared to a GAAP net loss of ($3.1) million and ($4.3) million for the same periods in 2019; Non-GAAP adjusted income (loss) was $1.0 million and ($1.0) million for the three and twelve months ended December 31, 2020, compared to a Non-GAAP adjusted loss of ($0.7) million and ($3.4) million for the same periods in 2019.

Kingsway Reports Fourth Quarter and Full Year 2020 Results

ITASCA, Ill., Dec. 1, 2020 /PRNewswire/ - (NYSE: KFS) Kingsway Financial Services Inc. ("Kingsway") today announced the closing of its acquisition of PWI Holdings, Inc. (collectively with its subsidiaries Preferred Warranties, Inc., Superior Warranties, Inc., Preferred Warranties of...

Kingsway Closes Acquisition of PWI Holdings

ITASCA, Ill., Nov. 6, 2020 /PRNewswire/ - (NYSE: KFS) Kingsway Financial Services Inc. ("Kingsway" or the "Company") today announced its operating results for the three and nine months ended September 30, 2020, which includes the following highlights: Net cash provided by operating...

Kingsway Reports Third Quarter 2020 Results

ITASCA, Ill, Aug. 13, 2020 /PRNewswire/ - (NYSE: KFS) Kingsway Financial Services Inc.

Kingsway Reports Second Quarter 2020 Results

ITASCA, IL, July 16, 2020 /PRNewswire/ - (NYSE: KFS) Kingsway Financial Services Inc. ("Kingsway" or the "Company") today announced that the New York Stock Exchange ("NYSE") has accepted the Company's business plan to regain compliance with NYSE continued listing standard 802.01B.

News for Kingsway Financial Services Stock (KFS)