Kingsway Financial Services Inc
NYSE:KFS
Kingsway Financial Services Inc
Kingsway Financial Services, Inc. operates as a holding company. The company is headquartered in Itasca, Illinois and currently employs 279 full-time employees. The company went IPO on 2001-07-11. The firm owns or controls subsidiaries primarily in the extended warranty, business services, asset management, and real estate industries. The firm operates through three segments: Extended Warranty, Leased Real Estate and Kingsway Search Xcelerator, that conduct their business and distribute their products and services in the United States. Its Extended Warranty segment includes the subsidiaries of the Company, such as IWS Acquisition Corporation (IWS), Geminus Holding Company Inc. (Geminus ), PWI Holdings, Inc., Professional Warranty Service Corporation, and Trinity Warranty Solutions LLC. Its Leased Real Estate includes the Company's subsidiaries CMC Industries, Inc. (CMC) and RoeCo. Kingsway Search Xcelerator segment includes the Company's subsidiary, Ravix. IWS is a provider of after-market vehicle protection services. Geminus sells vehicle service agreements to used car buyers across the United States.
Kingsway Financial Services, Inc. operates as a holding company. The company is headquartered in Itasca, Illinois and currently employs 279 full-time employees. The company went IPO on 2001-07-11. The firm owns or controls subsidiaries primarily in the extended warranty, business services, asset management, and real estate industries. The firm operates through three segments: Extended Warranty, Leased Real Estate and Kingsway Search Xcelerator, that conduct their business and distribute their products and services in the United States. Its Extended Warranty segment includes the subsidiaries of the Company, such as IWS Acquisition Corporation (IWS), Geminus Holding Company Inc. (Geminus ), PWI Holdings, Inc., Professional Warranty Service Corporation, and Trinity Warranty Solutions LLC. Its Leased Real Estate includes the Company's subsidiaries CMC Industries, Inc. (CMC) and RoeCo. Kingsway Search Xcelerator segment includes the Company's subsidiary, Ravix. IWS is a provider of after-market vehicle protection services. Geminus sells vehicle service agreements to used car buyers across the United States.
Revenue Growth: Kingsway reported a 37% year-over-year revenue increase for Q3, reaching $37.2 million.
KSX Segment Strength: The KSX segment delivered 104% revenue growth and 90% adjusted EBITDA growth, representing the majority of total revenue for the first time.
Extended Warranty Performance: The Extended Warranty segment saw modest 2% revenue growth, but strong cash sales, with six consecutive quarters of growth in the credit union-focused business.
Acquisition Momentum: Kingsway completed four acquisitions in the quarter, including Southside Plumbing, and has exceeded its annual target for new deals.
Profitability Adjustments: Adjusted consolidated EBITDA was $2.1 million for Q3, affected by one-time and non-cash items; underlying earnings power is described as the highest during current management’s tenure.
Strong Balance Sheet: Company cash increased to $9.3 million, while net debt rose to $61.4 million due to acquisition-related borrowing.
Positive Outlook: Management highlighted business momentum, successful integration of acquisitions, and expects continued growth entering Q4 and 2026.
