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Kingsway Financial Services reports strongest quarter under CEO Fitzgerald with 27.6% revenue rise
Kingsway Financial Services reported its strongest operating performance under CEO JT Fitzgerald, with second-quarter revenue increasing 27.6% year over year to $39.4 million, net income reaching $200,000 versus a $3.2 million loss, and adjusted EBITDA rising to $5.2 million from $1.7 million. The KSX segment drove growth, with revenue jumping 68.3% to $22.3 million and adjusted EBITDA up 77.9% to a record $4.3 million, while extended-warranty adjusted EBITDA also improved on a pro forma basis excluding the sold Trinity business. Kingsway sold Trinity for $8 million and acquired Michigan-based managed IT provider RCC for $2.4 million, reshaping its portfolio. Net debt declined to $59.9 million, and management reaffirmed its 2026 targets of three to five acquisitions and double-digit organic growth in KSX and extended warranties.