Mon, Mar 17, 9:12 PM (39 days ago)
**Kingsway Financial Services Inc. (KFS)** reported a net loss of $8.3 million for the year ended December 31, 2024, compared to a net income of $24.0 million in 2023. The company's financial performance was impacted by a decrease in net investment income and an increase in impairment of goodwill and intangible assets. The Extended Warranty segment saw a 1.0% increase in service fee and commission revenue, while the Kingsway Search Xcelerator segment reported a 14.3% increase in revenue. The company's financial condition was affected by a decrease in cash and cash equivalents and an increase in debt. The company's market position changed with a decrease in the trading volume of its common stock. The company's strategic outlook includes plans to preserve and use its net operating losses and to generate future taxable income. The company's risk factors include financial risks related to its debt and acquisition financing, as well as compliance risks related to applicable insurance and securities laws. The company's future outlook is uncertain due to the developing macro-economic environment and the potential impact of the COVID-19 pandemic.