Business
Kingsway Reports First Quarter 2025 Financial Results
Management to Host Conference Call Today at 5 p.m. ET CHICAGO, ILLINOIS / ACCESS Newswire / May 8, 2025 /(NYSE:KFS) Kingsway Financial Services Inc. ("Kingsway" or the "Company"), the only publicly-traded US company employing the Search Fund model ...
About this update from Kingsway Corporation
[{"type":"text","content":"Management to Host Conference Call Today at 5 p.m. ET","length":53,"tagName":"p"},{"type":"text","content":"CHICAGO, ILLINOIS / ACCESS Newswire / May 8, 2025 / (NYSE:KFS) Kingsway Financial Services Inc. ("Kingsway" or the "Company"), the only publicly-traded US company employing the Search Fund model to acquire and build great businesses, today announced its operating results for the three months ended March 31, 2025.","length":334,"tagName":"p"},{"type":"text","content":"First Quarter 2025 Consolidated Financial Highlights","length":52,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Consolidated revenue increased 8.4% to $28.3 million for the three months ended March 31, 2025, compared to $26.2 million in the prior year period","length":146,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Kingsway Search Xcelerator ("KSX") revenue increased 23.3% to $11.7 million in the first quarter of 2025, compared to $9.5 million in the first quarter of 2024, primarily due to the Image Solutions and Bud's Plumbing acquisitions","length":243,"tagName":"p"}]},{"val":[{"type":"text","content":"Extended Warranty revenue remained flat at $16.7 million in the first quarter of 2025, unchanged compared to the first quarter of 2024; however, cash sales were up 3.7% over prior year and up 9.3% sequentially","length":209,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":452,"olType":false}]},{"val":[{"type":"text","content":"Consolidated net loss was $3.1 million for the three months ended March 31, 2025, compared to a net loss of $2.3 million in the prior year period","length":145,"tagName":"p"}]},{"val":[{"type":"text","content":"Twelve month run-rate adjusted EBITDA for the operating companies is $18.0 million to $19.0 million; this number is intended to capture the 12-month trailing adjusted EBITDA of what the company currently owns or has recently acquired and is not intended to be forward-looking guidance","length":284,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted consolidated EBITDA decreased $0.7 million to $1.4 million for the three months ended March 31, 2025, compared to $2.1 million in the prior year period","length":160,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"KSX adjusted EBITDA was $1.9 million in...