Quarterly ResultMay 7, 2026, 04:09 PM
Kingsway Q1 Revenue +37.4% to $39.0M; Loss Per Share $(0.10)
AI Summary
Kingsway Financial Services Inc. reported a significant improvement in its first quarter 2026 financial results, with revenue increasing by 37.4% to $39.0 million. The company also achieved positive operating income of $0.5 million, a notable turnaround from an operating loss in the prior year. Net loss attributable to common shareholders decreased to $2.8 million, resulting in a reduced basic loss per share of $(0.10).
Key Highlights
- Revenue increased 37.4% to $38.959 million in Q1 2026 from $28.349 million in Q1 2025.
- Gross profit rose 42.6% to $17.335 million in Q1 2026 from $12.152 million in Q1 2025.
- Operating income was $0.485 million in Q1 2026, compared to an operating loss of $(0.714) million in Q1 2025.
- Net loss attributable to common shareholders decreased to $(2.793) million from $(3.439) million year-over-year.
- Basic loss per share improved to $(0.10) in Q1 2026 from $(0.13) in Q1 2025.
- Net cash used in operating activities significantly improved to $(0.008) million from $(1.798) million.
- Total assets increased to $232.212 million as of March 31, 2026, from $231.499 million at December 31, 2025.