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Kingsway Financial Services (KFS) investor relations material
Kingsway Financial Services Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 revenue grew 37% year-over-year to $37.2 million, with KSX segment revenue up 104% to $19 million and becoming the largest contributor for the first time.
Four acquisitions completed in 2025, including Southside Plumbing, Bud's Plumbing, Roundhouse, Advanced Plumbing, AAA Flexible Pipe Cleaning, and The HR Team, expanding the skilled trades and industrial services portfolio.
Net loss attributable to common shareholders was $2.8 million for Q3 2025, compared to $2.4 million and $2.3 million losses in other reports.
Strong business momentum across subsidiaries, with several outperforming underwriting expectations.
Nine-month revenues reached $96.4 million, up from $79.7 million year-over-year.
Financial highlights
Q3 consolidated revenue reached $37.2 million, up from $27.1 million in the prior year.
Adjusted consolidated EBITDA was $2.1 million, down from $3 million in the prior year.
KSX segment adjusted EBITDA rose 90% to $2.7 million; Extended Warranty adjusted EBITDA fell to $0.8 million from $2.1 million.
Amortization of intangible assets increased to $2.4 million in Q3 2025, reflecting recent acquisitions.
Cash and cash equivalents plus restricted cash totaled $16.8 million at September 30, 2025.
Outlook and guidance
Management expects continued growth from recent acquisitions and recurring revenue businesses, with a robust acquisition pipeline and high single-digit organic growth targeted.
Three OIRs actively searching for new platforms, with a focus on asset-light, recurring revenue models.
No explicit forward-looking financial guidance, but management expresses confidence in sustainable growth.
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