Kingsway Financial Services Inc New (KFS)

Kingsway Publishes Investor Day Presentation to Company WebsiteMay 18, 2026 7:30 AM
ACCESS NewswireCHICAGO, IL / ACCESS Newswire / May 18, 2026 / (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 that it has published its 2026 Investor Day presentation to the Company's website.The presentation, which provides an overview of the Company's business, industry, financials, strategy, and other relevant information, can be accessed and downloaded by visiting the investor relations section of the Company's website at: https://bit.ly/4nABl4BInvestor DayThe Company will be hosting an in-person and online Investor Day today, Monday, May 18. Kingsway's management team will discuss a range of topics covering the Company's operations, long-term growth strategy, and financial structure. Prepared presentations will begin at 9:30 am ET.The event will take place at the New York Stock Exchange (previous RSVP required) and will also be viewable virtually via the investor relations section on the Company's website: https://kingsway-financial.com/investor-day/For those unable to attend in person who would like to participate in the Q&A, questions can be e-mailed to Kent Hansen at: khansen@kingsway-financial.comAbout the CompanyKingsway Financial Services Inc. is the only publicly-traded US company employing the Search Fund model to acquire and build great businesses.Kingsway owns and operates a collection of high-quality B2B and B2C services companies that are asset-light, growing, profitable, and that have recurring revenues. Kingsway seeks to compound long-term shareholder value on a per share basis via its decentralized management model, its talented team of operators, and its tax-advantaged corporate structure.Forward-Looking StatementsThis press release may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are not historical facts and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. Words such as "expects," "believes," "anticipates," "intends," "estimates," "seeks," and variations and similar words and expressions are intended to identify such forward-looking statements; however, the absence of any such words does not mean that a statement is a not a forward-looking statement. Such forward-looking statements relate to future events or future performance, but reflect Kingsway management's current beliefs, based on information currently available. A number of factors could cause actual events, performance, or results to differ materially from the events, performance, and results discussed in the forward-looking statements. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the section entitled "Risk Factors" in the Company's 2025 Annual Report on Form 10-K and subsequent Form 10-Qs and Form 8-Ks filed with the Securities and Exchange Commission. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.Additional InformationAdditional information about Kingsway, including a copy of its Annual Reports can be accessed on the EDGAR section of the U.S. Securities and Exchange Commission's website at www.sec.gov, on the Canadian Securities Administrators' website at www.sedar.com, or through the Company's website at www.kingsway-financial.com.For Investor Inquiries:
Hayden IR
James Carbonara
(646) 755-7412
james@haydenir.comFor Company Inquiries:
Kingsway Financial Services Inc.
Kent Hansen, CFO
(312) 766-2163
khansen@kingsway-financial.comSOURCE: Kingsway Financial Services, Inc.
View the original press release on ACCESS NewswireOriginal: Kingsway Publishes Investor Day Presentation to Company Website

Kingsway Announces Colter Hanson As President Of Kingsway Skilled TradesMay 15, 2026 8:30 AM
ACCESS NewswireCHICAGO, IL / ACCESS Newswire / May 15, 2026 / (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 that Colter Hanson has been named President of Kingsway Skilled Trades."I am thrilled to share that Colter Hanson has assumed leadership of our Kingsway Skilled Trades platform," said JT Fitzgerald, Kingsway's President and CEO. "Colter is a high-character individual who has repeatedly proven himself in dynamic operating environments. His commitment to operational excellence and service leadership make him a great fit to head our growing Kingsway Skilled Trades platform."At the same time, I would like to express my appreciation to Rob Casper, who helped stand up Kingsway Skilled Trades and who recently departed the Company, for his contributions over the past year. I wish him every future success."Colter has hit the ground running and is already working closely with the leadership teams at our three plumbing subsidiaries. As we enter the seasonally stronger summer months, I believe Kingsway Skilled Trades is poised for an exceptional year. I look forward to partnering with Colter as he builds a much larger and more valuable Kingsway Skilled Trades platform.""I am honored to step into the role of President at Kingsway Skilled Trades, and am incredibly grateful to Kingsway for the opportunity," said Mr. Hanson. "My immediate focus is to provide hands-on support to our current plumbing operations so they have the tools and resources to continue to scale. At the same time, I am excited to keep growing our footprint by acquiring exceptional companies that align with our culture and vision for Kingsway Skilled Trades. Kingsway is a fantastic home for market-leading trades businesses looking for an ownership transition, and I see tremendous opportunity ahead to partner with additional high-caliber teams."About Mr. HansonColter Hanson is the President of Kingsway Skilled Trades, a Kingsway subsidiary that owns and operates market-leading trades businesses. Prior to Kingsway, Mr. Hanson served as an Engagement Manager for McKinsey & Company where he focused on operational excellence and value creation for clients in the manufacturing and power generation verticals.Mr. Hanson is a graduate of the United States Naval Academy where he received his Bachelor of Science in Mechanical Engineering. Mr. Hanson subsequently served in the United States Navy as a nuclear submarine officer. He spent the final two years of his military service at the Pentagon, supporting the United States Navy's Director of Operations and Plans. In 2020, Mr. Hanson transitioned from the military to earn his MBA at Harvard Business School.About the CompanyKingsway Financial Services Inc. is the only publicly-traded US company employing the Search Fund model to acquire and build great businesses.Kingsway owns and operates a collection of high-quality B2B and B2C services companies that are asset-light, growing, profitable, and that have recurring revenues. Kingsway seeks to compound long-term shareholder value on a per share basis via its decentralized management model, its talented team of operators, and its tax-advantaged corporate structure.Forward-Looking StatementsThis press release may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are not historical facts and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. Words such as "expects," "believes," "anticipates," "intends," "estimates," "seeks," and variations and similar words and expressions are intended to identify such forward-looking statements; however, the absence of any such words does not mean that a statement is a not a forward-looking statement. Such forward-looking statements relate to future events or future performance, but reflect Kingsway management's current beliefs, based on information currently available. A number of factors could cause actual events, performance, or results to differ materially from the events, performance, and results discussed in the forward-looking statements. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the section entitled "Risk Factors" in the Company's 2025 Annual Report on Form 10-K and subsequent Form 10-Qs and Form 8-Ks filed with the Securities and Exchange Commission. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.Additional InformationAdditional information about Kingsway, including a copy of its Annual Reports can be accessed on the EDGAR section of the U.S. Securities and Exchange Commission's website at www.sec.gov, on the Canadian Securities Administrators' website at www.sedar.com, or through the Company's website at www.kingsway-financial.com.For Investor Inquiries:
Hayden IR
James Carbonara
(646) 755-7412
james@haydenir.comFor Company Inquiries:
Kingsway Financial Services Inc.
Kent Hansen, CFO
(312) 766-2163
khansen@kingsway-financial.comSOURCE: Kingsway Financial Services, Inc.View the original press release on ACCESS NewswireOriginal: Kingsway Announces Colter Hanson As President Of Kingsway Skilled Trades

Kingsway Reports First Quarter 2026 Financial ResultsMay 7, 2026 4:15 PM
ACCESS Newswire-- Q1 2026 Ahead of Budget for both KSX and Extended Warranty ---- Revenue Growth of 37% to $39.0 Million ---- KSX Revenue Growth of 81% to $21.1 Million ---- Extended Warranty Revenue Growth of 7% to $17.9 Million ---- Reiterates Target of Three to Five Acquisitions in 2026 ---- Reiterates Double-Digit Organic Growth Budget for both KSX and Extended Warranty in 2026 --Management to Host Conference Call Today, May 7, 2026, at 5 p.m. ETCHICAGO, IL / ACCESS Newswire / May 7, 2026 / 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, 2026.First Quarter 2026 Financial Highlights Compared To First Quarter 2025Consolidated revenue increased 37.4% to $39.0 million, compared to $28.3 million.Kingsway Search Xcelerator ("KSX") revenue increased 80.7% to $21.1 million, compared to $11.7 million.Extended Warranty revenue increased 7.2% to $17.9 million, compared to $16.7 million; Extended Warranty cash sales increased 11.8%.Consolidated net loss was $2.2 million, compared to a net loss of $3.1 million.Consolidated adjusted EBITDA was $2.4 million, compared to $1.4 million.KSX adjusted EBITDA increased by 82% to $3.5 million, compared to $1.9 million.Extended Warranty adjusted EBITDA was $0.4 million, compared to $0.9 million.The Company had total net debt of $63.9 million as of March 31, 2026, compared with $62.4 million as of December 31, 2025.Business HighlightsPortfolio LTM EBITDA for the operating companies was $22.0 million to $23.0 million as of March 31, 2026; see "Non-U.S. GAAP Financial Measures" below for further explanation of this metric.On March 16, 2026, the Company announced that its Board of Directors (the "Board") had elected Adam J. Patinkin as Chairman of the Board and Terence M. Kavanagh as Vice-Chairman of the Board.On March 31, 2026, the Company announced the Board had approved a proposed corporate name change to Kingsway Corporation and a proposed stock ticker change to KWY, which are intended to better reflect the Company's business evolution and long-term strategy. The proposed name change is subject to shareholder approval at the Company's upcoming Annual general Meeting of shareholders scheduled for May 18, 2026.Management Commentary"Kingsway delivered a strong first quarter of 2026, with profits at both KSX and Extended Warranty coming in ahead of budget," said JT Fitzgerald, Kingsway's President and CEO. "March stood out as a particularly good month, and we see clear business momentum across our portfolio entering the seasonally stronger summer months."For the full year, we continue to expect double-digit organic growth in revenue and profit at both KSX and Extended Warranty. Our acquisition pipeline is robust, and we anticipate completing three to five acquisitions in 2026, in line with our target."The combination of healthy organic growth and continued acquisition activity position Kingsway for a year of meaningful financial and strategic progress."Conference Call and WebcastManagement will host a conference call at 5 p.m. Eastern Time today to discuss the results and host a live Q&A session. Additionally, investors may also submit questions via email to: James@HaydenIR.com.Conference Call InformationDate: Thursday, May 7, 2026
Time: 5 p.m. Eastern Time
Toll Free: 877-545-0523
International: +1 973-528-0016
Participant Code: 456847
Live Webcast Link: https://www.webcaster5.com/Webcast/Page/2928/53983Conference Call Replay InformationToll Free: 877-481-4010
International: +1 919-882-2331
Replay Passcode: 53983
Replay Webcast Link: https://www.webcaster5.com/Webcast/Page/2928/53983About the CompanyKingsway Financial Services Inc. ("Kingsway") (NYSE:KFS) is the only publicly-traded US company employing the Search Fund model to acquire and build great businesses.Kingsway owns and operates a collection of high-quality B2B and B2C services companies that are asset-light, growing, profitable, and that have recurring revenues. Kingsway seeks to compound long-term shareholder value on a per share basis via its decentralized management model, its talented team of operators, and its tax-advantaged corporate structure.Non-U.S. GAAP Financial MeasuresManagement believes that non-GAAP adjusted EBITDA and Portfolio LTM EBITDA, when presented in conjunction with comparable GAAP measures, provide useful information about the Company's operating results and enhance the overall ability to assess the Company's financial performance.Management uses non-GAAP adjusted EBITDA, together with other measures of performance under GAAP, to compare the relative performance of operations in planning, budgeting, and reviewing the performance of its business. Non-GAAP adjusted EBITDA allows investors to make a more meaningful comparison between the Company's core business operating results over different periods of time. Management believes that non-GAAP adjusted EBITDA, when viewed with the Company's results under GAAP and the accompanying reconciliations, provides useful information about the Company's business without regard to potential distortions. By eliminating potential differences in results of operations between periods caused by the factors listed in the attached schedules, Management believes that non-GAAP adjusted EBITDA can provide useful additional basis for comparing the current performance of the underlying operations being evaluated.Portfolio LTM EBITDA represents management's estimate of the trailing twelve-month adjusted EBITDA generated by the Company's portfolio of operating businesses, including the KSX segment and the Extended Warranty segment. For the KSX segment, Portfolio LTM EBITDA includes the trailing twelve months of adjusted EBITDA for the operating businesses within the segment, including businesses acquired during the period and businesses acquired after the end of the reporting period but prior to the date of this release, as if they had been owned for the full twelve-month period. For the Extended Warranty segment, Portfolio LTM EBITDA is based on Modified Cash adjusted EBITDA, which reflects timing differences between GAAP revenue recognition and GAAP commission expense to the timing of cash receipts and cash commission expense associated with warranty contracts, as well as an adjustment to investment income for the difference between actual book yield and current market yield; no other adjustments are made. For clarity, Modified Cash adjusted EBITDA defers only the portion of contract premium needed to pay claims over the life of the underlying contract and does not defer any commission expense. Modified Cash adjusted EBITDA is used by management to evaluate the operating performance of the Extended Warranty segment and is also the basis for financial covenant calculations under the Company's credit agreements.Investors should consider these non-GAAP measures in addition to, not as a substitute for or as superior to, financial reporting measures prepared in accordance with GAAP. Investors are encouraged to review the Company's financial results prepared in accordance with GAAP to understand the Company's performance, taking into account all relevant factors.Forward-Looking StatementsThis press release may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are not historical facts and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. Words such as "expects," "believes," "anticipates," "intends," "estimates," "seeks," and variations and similar words and expressions are intended to identify such forward-looking statements; however, the absence of any such words does not mean that a statement is a not a forward-looking statement. Such forward-looking statements relate to future events or future performance, but reflect Kingsway management's current beliefs, based on information currently available. A number of factors could cause actual events, performance, or results to differ materially from the events, performance, and results discussed in the forward-looking statements. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the section entitled "Risk Factors" in the Company's 2025 Annual Report on Form 10-K and subsequent Form 10-Qs and Form 8-Ks filed with the Securities and Exchange Commission. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.Additional InformationAdditional information about Kingsway, including a copy of its Annual Reports can be accessed on the EDGAR section of the U.S. Securities and Exchange Commission's website at www.sec.gov, on the Canadian Securities Administrators' website at www.sedar.com, or through the Company's website at www.kingsway-financial.com.For Investor Inquiries:
Hayden IR
James Carbonara
(646) 755-7412
james@haydenir.comFor Company Inquiries:
Kingsway Financial Services Inc.
Kent Hansen, CFO
(312) 766-2163
khansen@kingsway-financial.comKingsway Financial Services Inc.
Reconciliation of GAAP Net Income (Loss) to Non-GAAP Adjusted Consolidated EBITDA
(in thousands)
(UNAUDITED)
Twelve Months Ended For the Three Months Ended 3/31/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 GAAP Net Income (Loss) $(9,428) $(2,268) $(1,584) $(2,411) $(3,165) Non-GAAP Adjustments: Changes in fair value; realized gains/losses (1) 110 86 12 48 (36)Employee related expenses (2) 2,291 451 383 726 731 Other items (3) 3,175 165 711 1,317 982 Depreciation, amortization, tax and interest expense 12,697 3,968 3,209 2,379 3,141 Total Non-GAAP Adjustments 18,273 4,670 4,315 4,470 4,818 Non-GAAP Adjusted Consolidated EBITDA $8,845 $2,402 $2,731 $2,059 $1,653
Twelve Months Ended For the Three Months Ended
3/31/2025 3/31/2025 12/31/2024 9/30/2024 6/30/2024 GAAP Net Income (Loss) $(9,059) $(3,092) $(1,470) $(2,311) $(2,186) Non-GAAP Adjustments: Discontinued operations (31) - 1 135 (167)Changes in fair value; realized gains/losses (1) 175 (22) 133 (81) 145 Employee related expenses (2) 2,287 495 390 990 412 Other items (3) 2,866 1,095 225 956 590 Depreciation, amortization, tax and interest expense 13,995 2,876 4,117 3,343 3,659 Total Non-GAAP Adjustments 19,292 4,444 4,866 5,343 4,639 Non-GAAP Adjusted Consolidated EBITDA $10,233 $1,352 $3,396 $3,032 $2,453 (1)Includes realized and unrealized gains and losses on non-core investments; change in the fair value of subordinated debt (net of the portion of the change attributable to instrument-specific credit risk); unrealized gains and losses; and change in the fair value of any earn-outs (changes in fair value recorded as other income or expense). (2)Employee related expenses includes non-cash expense arising from the grant and modification of stock-based awards to employees; and costs associated with employees assisting during a transition period and are not expected to be replaced once transition period has ended (approximately one year from acquisition date). (3)Other items include: legal expenses associated with the Company's defense against significant litigation matters; acquisition and disposition-related expenses; and other non-recurring items. Kingsway Financial Services Inc.
Reconciliation of KSX Segment Operating Income to Non-GAAP Adjusted EBITDA
(in thousands)
(UNAUDITED)
Twelve Months Ended For the Three Months Ended
3/31/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 GAAP Operating Income for KSX segment $9,004 $2,960 $1,810 $2,185 $2,049 Non-GAAP Adjustments: Acquisition and employee costs (1) 905 244 279 178 204 Investment income (2) 116 28 29 30 29 Depreciation 1,012 265 367 267 113 Total Non-GAAP Adjustments 2,033 537 675 475 346 Non-GAAP adjusted EBITDA for KSX segment $11,037 $3,497 $2,485 $2,660 $2,395
Twelve Months Ended For the Three Months Ended
3/31/2025 3/31/2025 12/31/2024 9/30/2024 6/30/2024 GAAP Operating Income for KSX segment $6,062 $1,743 $1,734 $1,144 $1,441 Non-GAAP Adjustments: Acquisition and employee costs (1) 376 52 65 120 139 Investment income (2) 153 25 33 27 68 Depreciation (3) 488 97 101 110 180 Total Non-GAAP Adjustments 1,017 174 199 257 387 Non-GAAP adjusted EBITDA for KSX segment $7,079 $1,917 $1,933 $1,401 $1,828 (1)Costs associated with acquisitions and employees assisting during a transition period and are not expected to be replaced once transition period has ended (approximately one year from acquisition date). (2)Investment income from interest on client deposits (Ravix, CSuite), as well as imputed interest on long-term software contracts (SPI) (3)The June 30, 2024 quarter includes a one-time catch-up for depreciation associated with the finalization of the DDI purchase accounting Kingsway Financial Services Inc.
Reconciliation of Extended Warranty Segment Operating Income to
Non-GAAP Adjusted EBITDA and Pro Forma Non-GAAP Adjusted EBITDA
(in thousands)
(UNAUDITED)
Twelve Months Ended For the Three Months Ended
3/31/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 GAAP Operating Income for Extended Warranty segment $900 $261 $301 $401 $(63) Non-GAAP Adjustments: Investment income (1) 1,347 340 342 324 341 Employee costs 302 - - - 302 Other costs 158 - 158 Depreciation 170 47 47 37 39 Total Non-GAAP Adjustments 1,977 387 547 361 682 Non-GAAP adjusted EBITDA for Extended Warranty segment $2,877 $648 $848 $762 $619
Twelve Months Ended For the Three Months Ended
3/31/2025 3/31/2025 12/31/2024 9/30/2024 6/30/2024 GAAP Operating Income for Extended Warranty segment $5,381 $515 $1,918 $1,704 $1,244 Non-GAAP Adjustments: Investment income (1) 1,289 247 394 327 321 Employee costs 50 50 - - - Depreciation 174 38 39 41 56 Total Non-GAAP Adjustments 1,513 335 433 368 377 Non-GAAP adjusted EBITDA for Extended Warranty segment $6,894 $850 $2,351 $2,072 $1,621 (1)Investment income arising as part of Extended Warranty segment's minimum holding requirements, as well as realized gains and losses resulting from investments either held in trust as part of Extended Warranty segment's minimum holding requirements or from the deployment of excess cash. (2)Other costs include one-time items not expected to be incurred going forward. SOURCE: Kingsway Financial Services, Inc.View the original press release on ACCESS NewswireOriginal: Kingsway Reports First Quarter 2026 Financial Results

Kingsway Announces Speakers for Its Investor Day on Monday, May 18 at The New York Stock ExchangeMay 5, 2026 8:30 AM
ACCESS NewswireCHICAGO, IL / ACCESS Newswire / May 5, 2026 / (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 speakers for its Investor Day on Monday, May 18, 2026, at the New York Stock Exchange.In addition to JT Fitzgerald, Kingsway's President and CEO, and Kent Hansen, Kingsway's Executive Vice President and Chief Financial Officer, the program will feature:Miles Mamon, CEO of Roundhouse Electric & Equipment Co., Inc.Davide Zanchi, CEO of Image Solutions LLC"The theme of this year's Investor Day is ‘From Theory to Action', as we provide deep dives into how Kingsway supports its Operator CEO's in translating the Search Fund model and the Kingsway Business System into tangible, real world business success," said Mr. Fitzgerald. "Miles and Davide are wonderful examples of Kingsway's strategy in action, and I am confident the investor community will enjoy hearing their stories at our 2026 Investor Day."At the Investor Day, members of the Kingsway management team will discuss the Company's operations, long-term growth strategy, and financial structure. Prepared presentations will begin at 9:30 am ET, running until approximately midday.Investor Day DetailsThe Company's Investor Day will be held on Monday, May 18, at the New York Stock Exchange. In-person attendance is by RSVP only. The event will also be streamed live on the Investors section of the Company's website: https://kingsway-financial.com/investor-day/.To attend in person, please RSVP by emailing James@HaydenIR.com.About the CompanyKingsway Financial Services Inc. (NYSE: KFS) is the only publicly-traded US company employing the Search Fund model to acquire and build great businesses.Kingsway owns and operates a collection of high-quality B2B and B2C services companies that are asset-light, growing, profitable, and that have recurring revenues. Kingsway seeks to compound long-term shareholder value on a per share basis via its decentralized management model, its talented team of operators, and its tax-advantaged corporate structure.Additional InformationAdditional information about Kingsway, including a copy of its Annual Reports can be accessed on the EDGAR section of the U.S. Securities and Exchange Commission's website at www.sec.gov, on the Canadian Securities Administrators' website at www.sedar.com, or through the Company's website at www.kingsway-financial.com.For Investor Inquiries:
Hayden IR
James Carbonara
(646) 755-7412
james@haydenir.comFor Company Inquiries:
Kingsway Financial Services Inc.
Kent Hansen, CFO
(312) 766-2163
khansen@kingsway-financial.comSOURCE: Kingsway Financial Services, Inc.View the original press release on ACCESS NewswireOriginal: Kingsway Announces Speakers for Its Investor Day on Monday, May 18 at The New York Stock Exchange

Kingsway to Report Financial Results for First Quarter 2026 on Thursday, May 7, 2026May 1, 2026 8:30 AM
ACCESS NewswireCHICAGO, IL / ACCESS Newswire / May 1, 2026 / (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 that it will report financial results for the three months ended March 31, 2026, after the close of trading on Thursday, May 7, 2026.Conference Call InformationDate: Thursday, May 7, 2026
Time: 5 p.m. Eastern Time
Toll Free: 877-545-0523
International: +1 973-528-0016
Participant Code: 456847
Live Webcast Link: https://www.webcaster5.com/Webcast/Page/2928/53983Conference Call Replay InformationToll Free: 877-481-4010
International: +1 919-882-2331
Replay Passcode: 53983
Replay Webcast Link: https://www.webcaster5.com/Webcast/Page/2928/53983About the CompanyKingsway Financial Services Inc. ("Kingsway") (NYSE:KFS) is the only publicly-traded US company employing the Search Fund model to acquire and build great businesses.Kingsway owns and operates a collection of high-quality B2B and B2C services companies that are asset-light, growing, profitable, and that have recurring revenues. Kingsway seeks to compound long-term shareholder value on a per share basis via its decentralized management model, its talented team of operators, and its tax-advantaged corporate structure.Additional InformationAdditional information about Kingsway, including a copy of its Annual Reports can be accessed on the EDGAR section of the U.S. Securities and Exchange Commission's website at www.sec.gov, on the Canadian Securities Administrators' website at www.sedar.com, or through the Company's website at www.kingsway-financial.com.For Investor Inquiries:
Hayden IR
James Carbonara
(646) 755-7412
james@haydenir.comFor Company Inquiries:
Kingsway Financial Services Inc.
Kent Hansen, CFO
(312) 766-2163
khansen@kingsway-financial.comSOURCE: Kingsway Financial Services, Inc.View the original press release on ACCESS NewswireOriginal: Kingsway to Report Financial Results for First Quarter 2026 on Thursday, May 7, 2026

Kingsway Names Adam J. Patinkin as Chairman of Its Board of DirectorsMarch 16, 2026 8:30 AM
ACCESS Newswire-- Terence M. Kavanagh to Serve as Vice-Chairman --CHICAGO, IL / ACCESS Newswire / March 16, 2026 / (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 Board of Directors (the "Board") has elected Adam J. Patinkin as Chairman of the Board. Terence M. Kavanagh, who has served as Chairman for the past twelve years, will remain on the Board as Vice-Chairman."I am honored to have been asked by the Board to serve as Chairman," said Mr. Patinkin. "Kingsway has built a unique and compelling platform to acquire and scale outstanding businesses. I am excited to work with JT and the entire Kingsway team to help the company reach its considerable potential.""It has been a privilege to serve as Chairman of Kingsway for the past twelve years," said Mr. Kavanagh. "I believe this is the right moment to pass the baton to Adam. His energy, work ethic, and hands-on approach make him exceptionally well-suited to lead the Board as Kingsway enters its next phase of growth.""Terry has guided Kingsway through a remarkable period of transformation," said JT Fitzgerald, Kingsway's President and CEO and a member of the Board of Directors. "We are deeply grateful for his steady leadership and wise counsel. I am thrilled to partner with Adam as we continue building Kingsway into a growth company and compounder of investor capital."About Adam J. PatinkinAdam J. Patinkin is the Founder and Managing Partner of David Capital Partners, LLC ("David Capital"), a long-term oriented alternative investment firm headquartered in Chicago with offices in London. Prior to founding David Capital, Mr. Patinkin was a member of the investment team at Chicago-based Sheffield Asset Management, L.L.C., a long/short equity hedge fund manager. Mr. Patinkin currently serves on the Board of Directors of Flamingo Group, Inc., a privately-held enterprise software company focused on the multi-family apartment industry. Mr. Patinkin holds the Chartered Financial Analyst designation and earned a B.A. from Dartmouth College with a double-major in History and Government.About the CompanyKingsway Financial Services Inc. ("Kingsway") (NYSE: KFS) is the only publicly-traded US company employing the Search Fund model to acquire and build great businesses.Kingsway owns and operates a collection of high-quality B2B and B2C services companies that are asset-light, growing, profitable, and that have recurring revenues. Kingsway seeks to compound long-term shareholder value on a per share basis via its decentralized management model, its talented team of operators, and its tax-advantaged corporate structure.Forward-Looking StatementsThis press release may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are not historical facts and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. Words such as "expects," "believes," "anticipates," "intends," "estimates," "seeks" and variations and similar words and expressions are intended to identify such forward-looking statements; however, the absence of any such words does not mean that a statement is a not a forward-looking statement. Such forward-looking statements relate to future events or future performance, but reflect Kingsway management's current beliefs, based on information currently available. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the section entitled "Risk Factors" in the Company's 2025 Annual Report on Form 10-K and subsequent Form 10-Qs and Form 8-Ks filed with the Securities and Exchange Commission. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.Additional InformationAdditional information about Kingsway, including a copy of its Annual Reports can be accessed on the EDGAR section of the U.S. Securities and Exchange Commission's website at www.sec.gov, on the Canadian Securities Administrators' website at www.sedar.com, or through the Company's website at www.kingsway-financial.com.For Investor Inquiries:
Hayden IR
James Carbonara
(646) 755-7412
james@haydenir.comFor Company Inquiries:
Kingsway Financial Services Inc.
Kent Hansen, CFO
(312) 766-2163
khansen@kingsway-financial.comSOURCE: Kingsway Financial Services, Inc.View the original press release on ACCESS NewswireOriginal: Kingsway Names Adam J. Patinkin as Chairman of Its Board of Directors

Kingsway Reports Fourth Quarter And Full Year 2025 Financial ResultsMarch 12, 2026 4:05 PM
ACCESS Newswire-- Q4 2025 Revenue Growth of 30% to $38.6 Million --
-- Q4 2025 KSX Revenue Growth of 64% to $20.3 Million --
-- Q4 2025 Extended Warranty Revenue Growth of 6% to $18.3 Million; Extended Warranty Cash Sales up 11% --
-- Reiterate Target of 3 to 5 Acquisitions in 2026 --
-- Double-Digit Organic Growth Budgeted for both KSX and Extended Warranty in 2026 --Management to Host Conference Call Today, March 12, 2026, at 5 p.m. ETCHICAGO, IL / ACCESS Newswire / March 12, 2026 / Kingsway Financial Services Inc. (NYSE:KFS) ("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 and twelve months ended December 31, 2025.Fourth Quarter 2025 Financial Highlights Compared To Fourth Quarter 2024Consolidated revenue increased 30.1% to $38.6 million, compared to $29.6 million.Kingsway Search Xcelerator ("KSX") revenue increased 63.6% to $20.3 million, compared to $12.4 million.Extended Warranty revenue increased 6.1% to $18.3 million, compared to $17.2 million; Extended Warranty cash sales increased 11.3%.Consolidated net loss was $1.6 million, compared to a net loss of $1.5 million.Consolidated adjusted EBITDA was $2.7 million, compared to $3.4 million.KSX adjusted EBITDA increased by 28.6% to $2.5 million, compared to $1.9 million.Extended Warranty adjusted EBITDA was $0.8 million, compared to $2.4 million.The Company had total net debt of $62.4 million as of December 31, 2025, compared with $61.4 million as of September 30, 2025.Full Year 2025 Financial Highlights Compared To Full Year 2024Consolidated revenue increased 23.4% to $135.0 million, compared to $109.4 million.KSX revenue increased 58.5% to $64.2 million, compared to $40.5 million.Extended Warranty revenue increased 2.8% to $70.8 million, compared to $68.9 million; Extended Warranty cash sales increased 9.2%.Consolidated net loss was $10.3 million, compared to a net loss of $8.3 million.Consolidated adjusted EBITDA was $7.8 million, compared to $11.0 million.KSX adjusted EBITDA increased by 40.8% to $9.5 million, compared to $6.7 million.Extended Warranty adjusted EBITDA was $3.1 million, compared to $7.5 million.The Company had total net debt of $62.4 million as of December 31, 2025, compared with $52.0 million as of December 31, 2024.Business HighlightsPortfolio LTM EBITDA for the operating companies was $22.0 million to $23.0 million as of December 31, 2025; see "Non-U.S. GAAP Financial Measures" below for further explanation of this metric.On January 5, 2026, the Company's wholly-owned subsidiary, Ravix Group, Inc. ("Ravix"), acquired the assets of Ledgers, Inc. ("Ledgers"), a provider of outsourced accounting services based in the state of Illinois. The business is expected to add unaudited pro-forma annual adjusted EBITDA of $0.4 million to Kingsway.Management Commentary"2025 was a year of meaningful progress for Kingsway," said JT Fitzgerald, Kingsway's President and CEO. "We launched our Skilled Trades platform, completed six acquisitions in the KSX segment, and - for the first time - KSX represented a majority of revenue and adjusted EBITDA in both the third and fourth quarters."Our KSX segment delivered strong results in 2025, with revenue growing 59% and adjusted EBITDA increasing 41% as our operator-led model continues to demonstrate its value creation potential. Our Extended Warranty segment's cash sales momentum throughout 2025 and moderating claims costs gives us increasing confidence in the segment's earnings trajectory. Cash sales grew 9% for the full year, accelerating to 11% in the fourth quarter - a consistent pattern of strengthening demand, especially across our dealer and credit union channels."As we look forward to the coming year, there is real momentum across our businesses. For 2026, we are budgeting double-digit organic growth in revenue and adjusted EBITDA in the KSX segment, and double-digit organic growth in revenue and Modified Cash adjusted EBITDA in the Extended Warranty segment."We anticipate completing three to five acquisitions in 2026 through our KSX platform, consistent with the targets outlined last year. Combined with continued healthy organic growth, these acquisitions positions Kingsway for a year of meaningful expansion.""Finally, I am pleased to highlight Kingsway's Portfolio LTM EBITDA of $22.0 million to $23.0 million, which represents the pro forma earnings power of our currently-owned operating companies over the last twelve months. As we begin 2026, this provides a strong foundation for continued growth."Our focus at Kingsway remains unchanged: to support our Operator CEOs, to grow the businesses we own, to acquire additional high-quality businesses through our Search Fund platform, and to create meaningful long-term value for shareholders."Conference Call and WebcastManagement will host a conference call at 5 p.m. Eastern Time today to discuss the results and host a live Q&A session. Additionally, investors may also submit questions via email to: James@HaydenIR.com.Conference Call InformationDate: Thursday, March 12, 2026
Time: 5 p.m. Eastern Time
Toll Free: 877-545-0320; Code: 478693
International: +1 973-528-0002; Code: 478693
Live Webcast Link: https://www.webcaster5.com/Webcast/Page/2928/53724Conference Call Replay InformationToll Free: 877-481-4010
International: +1-919-882-2331
Replay Passcode: 53724
Replay Webcast Link: https://www.webcaster5.com/Webcast/Page/2928/53724About the CompanyKingsway Financial Services Inc. ("Kingsway") (NYSE: KFS) is the only publicly-traded US company employing the Search Fund model to acquire and build great businesses.Kingsway owns and operates a collection of high-quality B2B and B2C services companies that are asset-light, growing, profitable, and that have recurring revenues. Kingsway seeks to compound long-term shareholder value on a per share basis via its decentralized management model, its talented team of operators, and its tax-advantaged corporate structure.Non-U.S. GAAP Financial MeasuresManagement believes that non-GAAP adjusted EBITDA and Portfolio LTM EBITDA, when presented in conjunction with comparable GAAP measures, provide useful information about the Company's operating results and enhance the overall ability to assess the Company's financial performance.Management uses non-GAAP adjusted EBITDA, together with other measures of performance under GAAP, to compare the relative performance of operations in planning, budgeting, and reviewing the performance of its business. Non-GAAP adjusted EBITDA allows investors to make a more meaningful comparison between the Company's core business operating results over different periods of time. Management believes that non-GAAP adjusted EBITDA, when viewed with the Company's results under GAAP and the accompanying reconciliations, provides useful information about the Company's business without regard to potential distortions. By eliminating potential differences in results of operations between periods caused by the factors listed in the attached schedules, Management believes that non-GAAP adjusted EBITDA can provide useful additional basis for comparing the current performance of the underlying operations being evaluated.Portfolio LTM EBITDA represents management's estimate of the trailing twelve-month adjusted EBITDA generated by the Company's portfolio of operating businesses, including the KSX segment and the Extended Warranty segment. For the KSX segment, Portfolio LTM EBITDA includes the trailing twelve months of adjusted EBITDA for the operating businesses within the segment, including businesses acquired during the period and businesses acquired after the end of the reporting period but prior to the date of this release, as if they had been owned for the full twelve-month period. For the Extended Warranty segment, Portfolio LTM EBITDA is based on Modified Cash adjusted EBITDA, which reflects timing differences between GAAP revenue recognition and GAAP commission expense to the timing of cash receipts and cash commission expense associated with warranty contracts, as well as an adjustment to investment income for the difference between actual book yield and current market yield; no other adjustments are made. For clarity, Modified Cash adjusted EBITDA defers only the portion of contract premium needed to pay claims over the life of the underlying contract and does not defer any commission expense. Modified Cash adjusted EBITDA is used by management to evaluate the operating performance of the Extended Warranty segment and is also the basis for financial covenant calculations under the Company's credit agreements.Investors should consider these non-GAAP measures in addition to, not as a substitute for or as superior to, financial reporting measures prepared in accordance with GAAP. Investors are encouraged to review the Company's financial results prepared in accordance with GAAP to understand the Company's performance, taking into account all relevant factors.Forward-Looking StatementsThis press release may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are not historical facts and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. Words such as "expects," "believes," "anticipates," "intends," "estimates," "seeks," and variations and similar words and expressions are intended to identify such forward-looking statements; however, the absence of any such words does not mean that a statement is a not a forward-looking statement. Such forward-looking statements relate to future events or future performance, but reflect Kingsway management's current beliefs, based on information currently available. A number of factors could cause actual events, performance, or results to differ materially from the events, performance, and results discussed in the forward-looking statements. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the section entitled "Risk Factors" in the Company's 2025 Annual Report on Form 10-K and subsequent Form 10-Qs and Form 8-Ks filed with the Securities and Exchange Commission. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.Additional InformationAdditional information about Kingsway, including a copy of its Annual Reports can be accessed on the EDGAR section of the U.S. Securities and Exchange Commission's website at www.sec.gov, on the Canadian Securities Administrators' website at www.sedar.com, or through the Company's website at www.kingsway-financial.com.For Investor Inquiries:
Hayden IR
James Carbonara
(646) 755-7412
james@haydenir.comFor Company Inquiries:
Kingsway Financial Services Inc.
Kent Hansen, CFO
(312) 766-2163
khansen@kingsway-financial.comKingsway Financial Services Inc.
Reconciliation of GAAP Net Income (Loss) to Non-GAAP Adjusted Consolidated EBITDA
(in thousands)
(UNAUDITED) Twelve Months Ended For the Three Months Ended 12/31/2025 12/31/2025 9/30/2025 6/30/2025 3/31/2025 GAAP Net Income (Loss) $(10,252) $(1,584) $(2,411) $(3,165) $(3,092) Non-GAAP Adjustments: Changes in fair value; realized gains/losses (1) 2 12 48 (36) (22)Employee related expenses (2) 2,335 383 726 731 495 Other items (3) 4,105 711 1,317 982 1,095 Depreciation, amortization, tax and interest expense 11,605 3,209 2,379 3,141 2,876 Total Non-GAAP Adjustments 18,047 4,315 4,470 4,818 4,444 Non-GAAP Adjusted Consolidated EBITDA $7,795 $2,731 $2,059 $1,653 $1,352 Twelve Months Ended For the Three Months Ended 12/31/2024 12/31/2024 9/30/2024 6/30/2024 3/31/2024 GAAP Net Income (Loss) $(8,295) $(1,470) $(2,311) $(2,186) $(2,328) Non-GAAP Adjustments: Discontinued operations 182 1 135 (167) 213 Changes in fair value; realized gains/losses (1) 605 133 (81) 145 408 Employee related expenses (2) 2,259 390 990 412 467 Other items (3) 1,832 225 956 590 61 Depreciation, amortization, tax and interest expense 14,399 4,117 3,343 3,659 3,280 Total Non-GAAP Adjustments 19,277 4,866 5,343 4,639 4,429 Non-GAAP Adjusted Consolidated EBITDA $10,982 $3,396 $3,032 $2,453 $2,101 (1) Includes realized and unrealized gains and losses on non-core investments; change in the fair value of subordinated debt (net of the portion of the change attributable to instrument-specific credit risk); unrealized gains and losses; and change in the fair value of the Ravix earn-out (changes in fair value recorded as other income or expense).(2) Employee related expenses includes non-cash expense arising from the grant and modification of stock-based awards to employees; and costs associated with employees assisting during a transition period and are not expected to be replaced once transition period has ended (approximately one year from acquisition date).(3) Other items include: legal expenses associated with the Company's defense against significant litigation matters; acquisition and disposition-related expenses; and other non-recurring items.Kingsway Financial Services Inc.
Reconciliation of KSX Segment Operating Income to Non-GAAP Adjusted EBITDA
(in thousands)
(UNAUDITED) Twelve Months Ended For the Three Months Ended 12/31/2025 12/31/2025 9/30/2025 6/30/2025 3/31/2025 GAAP Operating Income for KSX segment $7,787 $1,810 $2,185 $2,049 $1,743 Non-GAAP Adjustments: Acquisition and employee costs (1) 713 279 178 204 52 Investment income (2) 113 29 30 29 25 Depreciation 844 367 267 113 97 Total Non-GAAP Adjustments 1,670 675 475 346 174 Non-GAAP adjusted EBITDA for KSX segment $9,457 $2,485 $2,660 $2,395 $1,917 Twelve Months Ended For the Three Months Ended 12/31/2024 12/31/2024 9/30/2024 6/30/2024 3/31/2024 GAAP Operating Income for KSX segment $5,662 $1,734 $1,144 $1,441 $1,343 Non-GAAP Adjustments: Acquisition and employee costs (1) 462 65 120 139 138 Investment income (2) 138 33 27 68 10 Depreciation (3) 455 101 110 180 64 Total Non-GAAP Adjustments 1,055 199 257 387 212 Non-GAAP adjusted EBITDA for KSX segment $6,717 $1,933 $1,401 $1,828 $1,555 (1) Costs associated with acquisitions and employees assisting during a transition period and are not expected to be replaced once transition period has ended (approximately one year from acquisition date).(2) Investment income from interest on client deposits (Ravix, CSuite), as well as imputed interest on long-term software contracts (SPI)(3) The June 30, 2024 quarter includes a one-time catch-up for depreciation associated with the finalization of the DDI purchase accountingKingsway Financial Services Inc.
Reconciliation of Extended Warranty Segment Operating Income to
Non-GAAP Adjusted EBITDA and Pro Forma Non-GAAP Adjusted EBITDA
(in thousands)
(UNAUDITED) Twelve Months Ended For the Three Months Ended 12/31/2025 12/31/2025 9/30/2025 6/30/2025 3/31/2025 GAAP Operating Income for Extended Warranty segment $1,154 $301 $401 $(63) $515 Non-GAAP Adjustments: Investment income (1) 1,254 342 324 341 247 Employee costs 352 - - 302 50 Other costs 158 158 Depreciation 161 47 37 39 38 Total Non-GAAP Adjustments 1,925 547 361 682 335 Non-GAAP adjusted EBITDA for Extended Warranty segment $3,079 $848 $762 $619 $850 Twelve Months Ended For the Three Months Ended 12/31/2024 12/31/2024 9/30/2024 6/30/2024 3/31/2024 GAAP Operating Income for Extended Warranty segment $5,942 $1,918 $1,704 $1,244 $1,076 Non-GAAP Adjustments: Investment income (1) 1,362 394 327 321 320 Depreciation 188 39 41 56 52 Total Non-GAAP Adjustments 1,550 433 368 377 372 Non-GAAP adjusted EBITDA for Extended Warranty segment $7,492 $2,351 $2,072 $1,621 $1,448 (1) Investment income arising as part of Extended Warranty segment's minimum holding requirements, as well as realized gains and losses resulting from investments either held in trust as part of Extended Warranty segment's minimum holding requirements or from the deployment of excess cash.(2) Other costs include one-time items not expected to be incurred going forward.SOURCE: Kingsway Financial Services, Inc.View the original press release on ACCESS NewswireOriginal: Kingsway Reports Fourth Quarter And Full Year 2025 Financial Results

Kingsway to Host Investor Day At The New York Stock Exchange on Monday, May 18, 2026March 5, 2026 4:05 PM
ACCESS NewswireCHICAGO, ILLINOIS / ACCESS Newswire / March 5, 2026 / (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 that it will host an Investor Day following its Annual General Meeting of shareholders in New York City on Monday, May 18, 2026.President and Chief Executive Officer JT Fitzgerald, along with Executive Vice President and Chief Financial Officer Kent A. Hansen and members of the management team, will discuss a range of topics covering the Company's operations, long-term growth strategy, and financial structure. Prepared presentations will begin at 9:30 am ET running until approximately midday.Event DetailsThe investor day will take place at the New York Stock Exchange (RSVP required) and will also be available virtually at the investors section on the company website: www.kingsway-financial.com. Individuals interested in attending the in-person investor day may RSVP by emailing James@HaydenIR.com.A live webcast, including video, audio, and presentation slides will be accessible on www.kingsway-financial.com at the time of the meeting. Those who attend virtually will also have the opportunity to participate in the question-and-answer session following the presentation.About the CompanyKingsway Financial Services Inc. ("Kingsway") (NYSE:KFS) is the only publicly-traded US company employing the Search Fund model to acquire and build great businesses.Kingsway owns and operates a collection of high-quality B2B and B2C services companies that are asset-light, growing, profitable, and that have recurring revenues. Kingsway seeks to compound long-term shareholder value on a per share basis via its decentralized management model, its talented team of operators, and its tax-advantaged corporate structure.Additional InformationAdditional information about Kingsway, including a copy of its Annual Reports, can be accessed on the EDGAR section of the U.S. Securities and Exchange Commission's website at www.sec.gov, on the Canadian Securities Administrators' website at www.sedar.com, or through the Company's website at www.kingsway-financial.com.For Investor Inquiries:
Hayden IR
James Carbonara
(646) 755-7412
james@haydenir.comFor Company Inquiries:
Kingsway Financial Services Inc.
Kent Hansen, CFO
(312) 766-2163
khansen@kingsway-financial.comSOURCE: Kingsway Financial Services Inc.View the original press release on ACCESS NewswireOriginal: Kingsway to Host Investor Day At The New York Stock Exchange on Monday, May 18, 2026

Kingsway to Report Financial Results for Full Year 2025 on Thursday, March 12, 2026March 4, 2026 4:05 PM
ACCESS NewswireCHICAGO, ILLINOIS / ACCESS Newswire / March 4, 2026 / (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 that it will report financial results for the three and 12 months ended December 31, 2025, after the close of trading on Thursday, March 12, 2026.Conference Call InformationDate: Thursday, March 12, 2026
Time: 5 p.m. Eastern Time
Toll Free: 877-545-0320; Code: 478693
International: +1 973-528-0002; Code: 478693
Live Webcast Link: https://www.webcaster5.com/Webcast/Page/2928/53724Conference Call Replay InformationToll Free: 877-481-4010
International: +1-919-882-2331
Replay Passcode: 53724
Replay Webcast Link: https://www.webcaster5.com/Webcast/Page/2928/53724About the CompanyKingsway Financial Services Inc. ("Kingsway") (NYSE:KFS) is the only publicly-traded US company employing the Search Fund model to acquire and build great businesses.Kingsway owns and operates a collection of high-quality B2B and B2C services companies that are asset-light, growing, profitable, and that have recurring revenues. Kingsway seeks to compound long-term shareholder value on a per share basis via its decentralized management model, its talented team of operators, and its tax-advantaged corporate structure.Additional InformationAdditional information about Kingsway, including a copy of its Annual Reports, can be accessed on the EDGAR section of the U.S. Securities and Exchange Commission's website at www.sec.gov, on the Canadian Securities Administrators' website at www.sedar.com, or through the Company's website at www.kingsway-financial.com.For Investor Inquiries:
Hayden IR
James Carbonara
(646) 755-7412
james@haydenir.comFor Company Inquiries:
Kingsway Financial Services Inc.
Kent Hansen, CFO
(312) 766-2163
khansen@kingsway-financial.comSOURCE: Kingsway Financial Services, Inc.View the original press release on ACCESS NewswireOriginal: Kingsway to Report Financial Results for Full Year 2025 on Thursday, March 12, 2026

http://www.zenolytics.com/2014/07/client-letter-on-the-subjects-of-capitalizing-on-corporate-greed-imagination/

In fact, by the time this decade is done, I believe that corporate exploitation of NOLs will be one of the great legacies of the financial crisis, creating an outcry from Congress that will be as great, if not greater than what we are seeing currently with respect to corporate inversions.
In the meantime, it is fair to assume that corporate profits in the U.S. will continue to increase in the face of limited options for tax efficiency. As a result, I expect NOL shells or corporations with an operating structure that preserves an inordinate amount of NOLs to become increasingly valuable, in proportion to growth in U.S. corporate profits.
This is well ahead of the curve thinking that I feel will benefit our portfolio returns going forward. Our two largest holdings – WMIH & KFS – are both NOL shells. In the case of WMIH it is a pure NOL shell without an operating entity (WMMRC is a legacy operation in runoff) and KFS is a revitalized shell, with a vast majority of its operations being newly formed entities that had no part in creating the NOLs in the first place. In other words, the structure of the balance sheet and operational profitability has been deliberately set around the NOLs. The eventuality in the case of both KFS and WMIH is a much larger entity taking shape that eats through the NOLs in 3-5 years, resulting in a tremendous surge of profitability for both companies going forward.
The potential for maximum utilization of NOLs through reinvesting tax free profits into ventures that will further provide outsized returns will best be experienced by financial companies that have the expertise to seek out a diversified portfolio of active or passive investments while possessing a history of providing a high internal rate of return.
While a company involved in technology or industrial manufacturing will divide an inordinate amount of corporate profits brought by NOLs in a variety of ways, financial companies, in particular Property & Casualty Insurers, tend to focus investments on areas that provide a high internal rate of return within their area of expertise. This type of leveraged, compounding return scenario can very well turn into a virtuous cycle of profitability for financial companies, especially when tax liability is nullified.
The CEO of Kingsway Financial (KFS) in a recent shareholder letter commented on this type of potential by saying: “We believe in the power of compounding. Insurance companies provide unique vehicles to compound investment results. The unfortunate history of Kingsway has resulted in hundreds of millions of dollars of tax losses (for which we have reserved from an accounting perspective) but provides us the opportunity to not pay federal income tax so long as the losses remain available to offset gains. This enhances our compounding.
He goes on to say: “So you could sum up our value-building philosophy as: Compounding capital in the long-term with investments/acquisitions/financings that offer asymmetric risk/reward potential with a margin of safety support by private market values.”
It can’t be understated and in fact should be emphasized clearly what a powerful business model this is in a highly-lubricated economic environment that is filled with opportunistic companies searching for an enhancement in their possibility for achieving returns. There is no shortage of capital that is looking for deals. And there is no shortage of deals that are looking for capital.
Private equity firms are raising record amounts to put together creative acquisitions in a variety of industries. Venture capital is running at two hundred miles per hour. And hedge funds are becoming increasingly creative in their ability to structure deals that resemble a hybrid between private equity and venture capital. In essence, it is a deal environment that has no shortage of opportunities or capital to make those opportunities reality. This will benefit our portfolio investments that are concentrated in NOL plays for Property & Casualty Insurance (I have little doubt that WMIH will eventually merge into a P&C insurer) tremendously going forward as I expect the maximum benefit possible to flow into these names."

Insider Buying

KFS SWETS LARRY G JR President and CEO Aug 23 Buy 3.02 2,500 7,552 289,000

KFS chart

KFS...Q3 EPS 0c vs (53c) Beats (37c) Est

Friday , November 12, 2010 17:34ET

QUARTER RESULTS
Kingsway Financial Services, Incorporated (KFS) reported Q3 results ended September 2010. Q3 Revenues were $62.80M; -24.15% vs yr-ago. Q3 EPS was 0c; +100.00% vs yr-ago; BEATING earnings consensus by +100.00%.Q3 RESULTS Reported Year-Ago Y/Y Chg Estimate SURPRISE
---------- ------------ ------------ ---------- ------------ ----------
Revenues: $62.80M $82.80M -24.15% N/A N/A
---------- ------------ ------------ ---------- ------------ ----------
EPS: 0c (53c) +100.00% (37c) +100.00%
---------- ------------ ------------ ---------- ------------ ----------ORIGINAL EARNINGS RELEASE: http://www.knobias.com/story.htm?eid=3.1.1cd2e3884375a11fb01b21ebba625aaf60c9ddec674b008096d795922939905d
Consensus estimate data provided by Reuters.
Visit Knobias.com for more indepth earnings information.

"a" Chart. Just "a" Chart...6-Month Daily



Hummmm?

GLTA!

Kingsway announces repurchase of outstanding indebtedness

Thursday , July 08, 2010 18:38ET

TORONTO, July 8 /PRNewswire-FirstCall/ - Kingsway Financial Services Inc. (NYSE, TSX: KFS) (the "Company") announced today that since the debt repurchases made in connection with the disposition of Jevco Insurance Company at the end of March 2010, it has repurchased an aggregate principal amount of C$33,932,000 of Unsecured 6% Debentures due July 11, 2012 issued by Kingsway 2007 General Partnership (the "2012 Debentures") and an aggregate principal amount of US$25,583,000 of 7.50% Senior Notes due 2014 (the "2014 Notes") issued by Kingsway America Inc., for a total purchase price of approximately US$55.1 million.

As a result of these acquisitions, the aggregate principal amount of 2012 Debentures and 2014 Notes that remains outstanding is C$12.5 million and US$26.9 million, respectively.

The acquisitions were made in the ordinary course for capital management purposes and the Company may make additional repurchases in the future, depending on price, availability and general market conditions.

KFS Kingsway Announces Dismissal of All Claims Against Kingsway in Pennsylvania Action, this ones gonna rock next week, big gap to fill from Oct highs

Sale of Jevco Insurance Company

Kingsway announces definitive agreement for the sale of Jevco Insurance Company

Monday , January 25, 2010 06:52ET - 100% cash transaction for all of the issued and outstanding shares of
Jevco
- Transaction subject to regulatory approvalTORONTO, Jan. 25 /PRNewswire-FirstCall/ - Kingsway Financial Services Inc. (NYSE, TSX: KFS) (the "Company") announced today that it has entered into a definitive purchase agreement with The Westaim Corporation (TSX:WED) ("Westaim") pursuant to which, subject to the satisfaction of certain standard closing conditions, including receipt of the approval of the Minister of Finance (Canada), the Company will sell all of the issued and outstanding shares of Jevco Insurance Company ("Jevco") to Westaim for an aggregate purchase price of approximately 94.5% of the book value of Jevco as at December 31, 2009, subject to adjustments. Prior to the closing of the transaction, and subject to insurance regulatory approval, the Company will also receive a dividend of up to CAD$40 million from Jevco. The approval of Westaim shareholders will also be required in connection with associated financing activities. Completion of the transaction is not conditional on financing.

If successfully concluded, the Company plans to immediately purchase sufficient Company debt to ensure it continues to satisfy all financial covenants contained in bond agreements to which the Company and its affiliates are a party. Conditional debt repurchase agreements have been executed in respect of approximately US$47 million of the Company's debt to ensure the timely completion of the debt purchase transactions.

In connection with the negotiation and entering of the definitive purchase agreement, CIBC World Markets Inc. has acted as financial advisor to the Board of Directors of the Company, Ogilvy Renault LLP has acted as legal counsel to the Company, and Cassels Brock and Blackwell LLP and Heenan Blaikie LLP have acted as legal counsel to Westaim.

looks good gonna pop to 2

form t is an after hours trade. it can be done for multiple reasons, but it has nothing to do with the actual level 2 prices or the quotes from your brokerage account. wont be correct till the a.m.

I mean, I know the chart indicators looked great yesterday and today... but this i was not expecting!! lol

Alright. So, I am intriged. After hours showing 4.48 (150%+++)

What is causing this?!??

does anyone realize next resistance ia around 2.60?

MACD, TRIX, Full Stohiac; and the Parabolic SAR just flipped indicating a reversed trend.

Which indicators say it's strong? Looks like a resistance area here.

To follow this up, indicators are all looking really strong still! We should be looking for some consolidation here soon... but everything still sais go!

Zecco has gone crazy... delayed chart confirms closing price of 1.51. Congrats!!

Am I going blind or am I getting bad data from Zecco? Last Trade time @ 4:00 shows a price of 1.24.

KFS Promising pincher charted -

Thanks sheepdog. That does sound promising.

KFS is a great long term hold as well as a pincher play short term. I'm heavily into this stock but I will be holding well into next year this time. This company is a great take over target and as well. 10 bucks by the end of 2010

Keep on Moving

Cool.

I don't own any.. was only a bounce for me.

Is KFS a good stock to own outside its pincher play potential?

Looking good. at HOD

+10% Today

Nice Chart Plus: Notes

The good:
-----------
* NYSE issue
* financial with managable debt/gross profit ratio
* Price/Book is about .25
* SEC filings show no dilution in recent years
* Cash is ok
* Nice charts:



The bad:

* Looks like some serious problems with business in US
* Stock was downgraded to CCC status
* Other negative news concerning legal action.. See news.

Great idea dude!!!

On heavy watch for tomorrow.

Chart

KFS