Kingsway Corp income statement
In fiscal 2025, Kingsway Corp reported revenue of $135m, up 23.4% on the year before, operating income of −$2.4m (a -1.8% margin) and net income of −$11.9m, or −$0.43 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 229 | 160 | 172 | 158 | 160 | 177 | 45 | 52 | 60 | 61 | 78 | 93 | 103 | 109 | 135 | 154 |
| General and administrative | 78 | 74 | 80 | 42 | 42 | 42 | 27 | 30 | 36 | 42 | 45 | 44 | 42 | 45 | 61 | 68 |
| Operating income | — | −25 | −13 | 1 | −2 | −7 | 7 | −2 | −1 | −5 | −0 | −4 | 1 | 2 | −2 | −0 |
| Interest expense | 7 | 8 | 7 | 6 | 5 | 4 | 6 | 7 | 9 | 8 | 6 | 8 | 6 | 5 | 5 | 6 |
| Income before tax | −26 | −50 | −43 | −16 | −11 | −10 | −13 | −22 | −3 | −7 | −7 | 35 | 24 | −8 | −14 | −9 |
| Income tax | −0 | 3 | −0 | −1 | 0 | −10 | −17 | 0 | −0 | −1 | −4 | 5 | −2 | −0 | −4 | −3 |
| Net income | −20 | −52 | −37 | −13 | 1 | 0 | −17 | −31 | −7 | −8 | −1 | 24 | 23 | −9 | −12 | −7 |
| Diluted EPS | −$2.09 | −$4.05 | −$2.61 | −$0.75 | $0.04 | $0.01 | −$0.79 | −$1.41 | −$0.32 | −$0.35 | −$0.04 | $0.98 | $0.89 | −$0.35 | −$0.43 | −$0.26 |
| Diluted shares (average) | 13m | 13m | 14m | 17m | 20m | 20m | 22m | 22m | 22m | 22m | 23m | 25m | 26m | 27m | 28m | 29m |
| EBITDA | — | −22 | −10 | 3 | 0 | −4 | 12 | 4 | 6 | 2 | 5 | 3 | 7 | 9 | 7 | 8 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 27 | 30 | 28 | 31 | 37 | 39 | 39 | 39 |
| Gross profit | — | — | 12 | 13 | — | — | 17 | 17 |
| General and administrative | 12 | 12 | 13 | 14 | 17 | 17 | 17 | 17 |
| Operating income | −1 | 2 | −1 | −1 | −1 | 0 | 0 | −0 |
| Interest expense | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 1 |
| Income before tax | −2 | −2 | −3 | −3 | −4 | −3 | −2 | 0 |
| Income tax | 0 | −0 | −0 | −0 | −2 | −1 | −0 | 0 |
| Net income | −3 | −2 | −3 | −4 | −3 | −2 | −3 | 0 |
| Diluted EPS | −$0.10 | −$0.07 | −$0.13 | −$0.13 | −$0.10 | −$0.07 | −$0.10 | −$0.03 |
| EBITDA | 1 | 4 | 1 | −1 | 2 | 3 | 3 | 0 |
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