2023 Q2 Form 10-Q Financial Statement

#000143774923013289 Filed on May 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $26.20M $26.39M
YoY Change -3.77% 1.02%
Cost Of Revenue $6.219M $5.410M
YoY Change 16.35% 4.38%
Gross Profit $19.98M $20.98M
YoY Change -8.68% 0.19%
Gross Profit Margin 76.26% 79.5%
Selling, General & Admin $12.34M $12.62M
YoY Change -9.23% -9.08%
% of Gross Profit 61.75% 60.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $100.0K $100.0K
YoY Change -87.5% -87.5%
% of Gross Profit 0.5% 0.48%
Operating Expenses $25.80M $25.88M
YoY Change 3.86% 2.18%
Operating Profit $393.0K $514.0K
YoY Change -83.47% -35.67%
Interest Expense $1.086M $2.972M
YoY Change -137.53% -228.16%
% of Operating Profit 276.34% 578.21%
Other Income/Expense, Net -$1.191M -$145.0K
YoY Change 35.8% -164.73%
Pretax Income -$1.564M $28.43M
YoY Change -34.04% -1076.0%
Income Tax $213.0K $699.0K
% Of Pretax Income 2.46%
Net Earnings -$1.667M $27.84M
YoY Change -29.51% -1211.78%
Net Earnings / Revenue -6.36% 105.49%
Basic Earnings Per Share -$0.06 $1.15
Diluted Earnings Per Share -$0.06 $1.05
COMMON SHARES
Basic Shares Outstanding 26.35M 25.05M
Diluted Shares Outstanding 25.30M 26.42M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $14.16M $8.300M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $11.62M $12.88M
YoY Change -44.75% -41.99%
LONG-TERM ASSETS
Property, Plant & Equipment $640.0K $704.0K
YoY Change -99.4% -99.35%
Goodwill $45.49M $45.49M
YoY Change -58.74% -58.74%
Intangibles $30.27M $31.68M
YoY Change -71.23% -70.31%
Long-Term Investments $45.64M $53.10M
YoY Change -23.36% -8.4%
Other Assets $42.87M $44.35M
YoY Change 58.12% 54.86%
Total Long-Term Assets $183.7M $188.4M
YoY Change -59.04% -58.36%
TOTAL ASSETS
Total Short-Term Assets $11.62M $12.88M
Total Long-Term Assets $183.7M $188.4M
Total Assets $195.3M $201.3M
YoY Change -58.4% -57.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $27.93M $27.84M
YoY Change -48.27% -48.76%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $27.93M $29.62M
YoY Change -48.27% -45.89%
LONG-TERM LIABILITIES
Long-Term Debt $42.05M $42.85M
YoY Change -85.06% -85.23%
Other Long-Term Liabilities $99.16M $98.76M
YoY Change 8.58% 9.88%
Total Long-Term Liabilities $141.2M $141.6M
YoY Change -62.13% -62.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.93M $29.62M
Total Long-Term Liabilities $141.2M $141.6M
Total Liabilities $173.4M $175.5M
YoY Change -61.86% -62.07%
SHAREHOLDERS EQUITY
Retained Earnings -$344.0M -$342.6M
YoY Change -14.09% -13.88%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $25.29M $27.69M
YoY Change
Total Liabilities & Shareholders Equity $195.3M $201.3M
YoY Change -58.4% -57.59%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$1.667M $27.84M
YoY Change -29.51% -1211.78%
Depreciation, Depletion And Amortization $100.0K $100.0K
YoY Change -87.5% -87.5%
Cash From Operating Activities -$1.678M -$6.663M
YoY Change -169.77% -273.47%
INVESTING ACTIVITIES
Capital Expenditures $9.000K $5.000K
YoY Change -113.85% -95.54%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $8.886M $0.00
YoY Change -559.7% -100.0%
Cash From Investing Activities $8.877M $6.251M
YoY Change -544.29% -3442.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.171M -$57.14M
YoY Change -19.64% 1396.7%
NET CHANGE
Cash From Operating Activities -1.678M -$6.663M
Cash From Investing Activities 8.877M $6.251M
Cash From Financing Activities -3.171M -$57.14M
Net Change In Cash 4.028M -$57.48M
YoY Change -213.82% 34948.78%
FREE CASH FLOW
Cash From Operating Activities -$1.678M -$6.663M
Capital Expenditures $9.000K $5.000K
Free Cash Flow -$1.687M -$6.668M
YoY Change -168.3% -278.81%

Facts In Submission

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CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q1 us-gaap Nature Of Operations
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<table border="0" cellpadding="0" cellspacing="0" style="font-family: Times New Roman; font-size: 10pt; width: 100%;"><tbody><tr><td colspan="9" style="border-bottom:solid 1px #000000;vertical-align:bottom;width:auto;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b><a href="#" id="Notes" title="Notes"/>KINGSWAY FINANCIAL SERVICES INC.</b></p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Notes to Consolidated Financial Statements (Unaudited)</p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><em style="font: inherit;"> March 31, 2023</em></p> </td></tr> </tbody></table> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"><b>NOTE <em style="font: inherit;">1</em> BUSINESS </b></p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Kingsway Financial Services Inc. (the "Company" or "Kingsway") was incorporated under the Business Corporations Act (Ontario) on <em style="font: inherit;"> September 19, 1989. </em>Effective <em style="font: inherit;"> December 31, 2018, </em>the Company changed its jurisdiction of incorporation from the province of Ontario, Canada, to the State of Delaware.  Kingsway is a holding company with operating subsidiaries located in the United States. The Company owns or controls subsidiaries primarily in the extended warranty and business services industries.</p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"> </p>
CY2023Q1 us-gaap Basis Of Accounting
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<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"><b>NOTE <em style="font: inherit;">2</em> BASIS OF PRESENTATION</b></p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">The accompanying unaudited consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and with the instructions to Form <em style="font: inherit;">10</em>-Q and Article <em style="font: inherit;">10</em> of Regulation S-<em style="font: inherit;">X.</em> Accordingly, they do <em style="font: inherit;">not</em> include all of the information and notes required by U.S. GAAP for complete financial statements of the Company. In the opinion of management, all adjustments necessary for a fair presentation have been included and are of a normal recurring nature. Interim results are <em style="font: inherit;">not</em> necessarily indicative of the results that <em style="font: inherit;"> may </em>be expected for the year.</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">The accompanying unaudited consolidated interim financial statements and footnotes should be read in conjunction with the audited consolidated financial statements and footnotes included within our Annual Report on Form <em style="font: inherit;">10</em>-K ("<em style="font: inherit;">2022</em> Annual Report") for the year ended <em style="font: inherit;"> December 31, 2022</em>.</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">The unaudited consolidated interim financial statements include the accounts of the Company and its subsidiaries, as well as certain variable interest entities as further described in Note <em style="font: inherit;">6,</em> "Variable Interest Entities," to the consolidated financial statements in the <em style="font: inherit;">2022</em> Annual Report. All material intercompany transactions and balances have been eliminated in consolidation.</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and classifications of assets and liabilities, revenues and expenses, and the related disclosures of contingent assets and liabilities in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates. Estimates and their underlying assumptions are reviewed on an ongoing basis. Changes in estimates are recorded in the accounting period in which they are determined.</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">The critical accounting estimates and assumptions in the accompanying unaudited consolidated interim financial statements include, but are <em style="font: inherit;">not</em> limited to, <span style="background-color:#ffffff; font-family:&quot;Times New Roman&quot;, Times, serif; font-size:10pt">revenue recognition; </span>valuation of fixed maturities and equity investments; impairment assessment of investments; valuation of limited liability investments, at fair value; valuation of deferred income taxes; accounting for business combinations and asset acquisitions; valuation and impairment assessment of intangible assets; goodwill recoverability<span style="background-color: rgb(255, 255, 255); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">; deferred contract costs;</span> fair value assumptions for subordinated debt obligations; fair value assumptions for subsidiary stock-based compensation awards; <span style="background-color: rgb(255, 255, 255); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">fair value assumptions for derivative financial instruments; and contingent consideration.</span></p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">The fair values of the Company's investments in fixed maturities and equity investments, limited liability investments, at fair value, subordinated debt, derivative financial instruments and contingent consideration are estimated using a fair value hierarchy to categorize the inputs it uses in valuation techniques. Fair values for other investments approximate their unpaid principal balance. The carrying amounts reported in the consolidated balance sheets approximate fair values for cash and cash equivalents, restricted cash, short-term investments and certain other assets and other liabilities because of their short-term nature.</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"> </p>
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DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
196 pure
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DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
208 pure
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2131000 usd
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2000 usd
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26924000 usd
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25494000 usd
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2274000 usd
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229000 usd
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93000 usd
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60000 usd
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31000 usd
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235000 usd
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200000 usd
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CY2022Q1 us-gaap Investment Income Net
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210000 usd
CY2022Q1 kfs Realized Investment Gains
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CY2023Q1 kfs Realized Investment Losses
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CY2022Q1 kfs Realized Investment Losses
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5000 usd
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RealizedInvestmentGainsLosses
210000 usd
CY2022Q1 us-gaap Realized Investment Gains Losses
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54000 usd
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CY2022Q1 us-gaap Debt And Equity Securities Gain Loss
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CY2023Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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CY2022Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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1075000 usd
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CY2023Q1 us-gaap Goodwill Impairment Loss
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0 usd
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IntangibleAssetsGrossExcludingGoodwill
55327000 usd
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23646000 usd
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31681000 usd
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55327000 usd
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33099000 usd
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1400000 usd
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1400000 usd
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0 usd
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1819000 usd
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1115000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
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704000 usd
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1814000 usd
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1041000 usd
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773000 usd
CY2023Q1 us-gaap Depreciation
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100000 usd
CY2022Q1 us-gaap Depreciation
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100000 usd
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0.0587 pure
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
100000 usd
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300000 usd
CY2022Q1 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
47000 usd
CY2023Q1 kfs Effective Income Tax Rate Reconciliation Investment Income Nontaxable
EffectiveIncomeTaxRateReconciliationInvestmentIncomeNontaxable
18000 usd
CY2022Q1 kfs Effective Income Tax Rate Reconciliation Investment Income Nontaxable
EffectiveIncomeTaxRateReconciliationInvestmentIncomeNontaxable
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CY2023Q1 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
489000 usd
CY2022Q1 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
45000 usd
CY2023Q1 us-gaap Income Tax Reconciliation Nondeductible Expense Depreciation And Amortization
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80000 usd
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46557000 usd
CY2023Q1 us-gaap Long Term Debt
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42849000 usd
CY2023Q1 us-gaap Long Term Debt Fair Value
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44075000 usd
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125308000 usd
CY2022Q4 us-gaap Long Term Debt
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102092000 usd
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103256000 usd
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CY2023Q1 us-gaap Subordinated Liabilities Extinguished
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300000 usd
CY2023Q1 kfs Fair Value Option Changes In Fair Value Gain
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400000 usd
CY2023Q1 kfs Fair Value Option Changes In Fair Value Gain
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400000 usd
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300000 usd
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447000 usd
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LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
442000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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283000 usd
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220000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
162000 usd
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LesseeOperatingLeaseLiabilityToBePaidYearFourAndThereafter
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CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
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1633000 usd
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300000 usd
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26389000 usd
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22456000 usd
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CY2021Q4 us-gaap Capitalized Contract Cost Net
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CY2022Q1 kfs Capitalized Contract Cost Addition
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CY2022Q1 us-gaap Capitalized Contract Cost Amortization
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13484000 usd
CY2022Q1 us-gaap Capitalized Contract Cost Net
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CY2022Q1 us-gaap Income Tax Reconciliation Other Adjustments
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5000 usd
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400000 usd
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400000 usd
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100000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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27732000 usd
CY2022Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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CY2023Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2022Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2022Q1 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Basic
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69000 usd
CY2022Q1 us-gaap Convertible Preferred Dividends Net Of Tax
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CY2023Q1 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
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CY2022Q1 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
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-4004000 usd
CY2023Q1 us-gaap Net Income Loss From Discontinued Operations Available To Common Shareholders Diluted
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersDiluted
107000 usd
CY2022Q1 us-gaap Net Income Loss From Discontinued Operations Available To Common Shareholders Diluted
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersDiluted
1495000 usd
CY2023Q1 kfs Net Income Loss From Discontinued Operations Available To Common Shareholders Diluted Noncontrolling Interest
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CY2022Q1 kfs Net Income Loss From Discontinued Operations Available To Common Shareholders Diluted Noncontrolling Interest
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersDilutedNoncontrollingInterest
222000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
27792000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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24061000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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22883000
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0
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CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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22883000
CY2023Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2022Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2023Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
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1.15
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2023Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.05
CY2022Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
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CY2023Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0
CY2022Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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0.05
CY2023Q1 us-gaap Earnings Per Share Diluted
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1.05
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2023Q1 us-gaap Preferred Stock Shares Outstanding
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CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
149733
CY2023Q1 us-gaap Preferred Stock Convertible Conversion Ratio
PreferredStockConvertibleConversionRatio
6.25 pure
CY2023Q1 us-gaap Preferred Stock Convertible Conversion Price
PreferredStockConvertibleConversionPrice
4.00
CY2023Q1 us-gaap Preferred Stock Convertible Conversion Price
PreferredStockConvertibleConversionPrice
4.00
CY2023Q1 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
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187500
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Other Longterm Incentive Plans Requisite Service Period Recognition
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4900000 usd
CY2023Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
10000000.0 usd
CY2023Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0
CY2023Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
25 pure
CY2023Q1 us-gaap Net Investment Income
NetInvestmentIncome
738000 usd
CY2022Q1 us-gaap Net Investment Income
NetInvestmentIncome
619000 usd
CY2023Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
210000 usd
CY2022Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
54000 usd
CY2023Q1 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
1075000 usd
CY2022Q1 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
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CY2023Q1 kfs Gain Loss On Change In Fair Value Of Limited Liability Investments At Fair Value
GainLossOnChangeInFairValueOfLimitedLiabilityInvestmentsAtFairValue
-130000 usd
CY2022Q1 kfs Gain Loss On Change In Fair Value Of Limited Liability Investments At Fair Value
GainLossOnChangeInFairValueOfLimitedLiabilityInvestmentsAtFairValue
127000 usd
CY2023Q1 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-1366000 usd
CY2022Q1 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
0 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
2972000 usd
CY2022Q1 us-gaap Interest Expense
InterestExpense
1364000 usd
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1418000 usd
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1442000 usd
CY2023Q1 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
309000 usd
CY2022Q1 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
-1868000 usd
CY2023Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
31616000 usd
CY2022Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
28431000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
699000 usd
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-422000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
27732000 usd
CY2022Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-3999000 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
0 usd
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
0 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
0 usd
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
0 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
3442000 usd
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
3751000 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
3218000 usd
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
2767000 usd
CY2023Q1 us-gaap Equity Method Investments Fair Value Disclosure
EquityMethodInvestmentsFairValueDisclosure
8291000 usd
CY2022Q4 us-gaap Equity Method Investments Fair Value Disclosure
EquityMethodInvestmentsFairValueDisclosure
13863000 usd
CY2020Q1 us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
900000 usd
CY2020Q1 kfs Litigation Settlement Reimbursable Percentage Of Future Losses
LitigationSettlementReimbursablePercentageOfFutureLosses
0.60 pure
CY2020Q4 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
4800000 usd
us-gaap Payments For Legal Settlements
PaymentsForLegalSettlements
1000000.0 usd
CY2018Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Reported Claims Amount
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseReportedClaimsAmount
2500000 usd
CY2018Q4 us-gaap Escrow Deposit
EscrowDeposit
2000000.0 usd
CY2018Q4 us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
500000 usd
CY2023Q1 kfs Release Of Escrow Deposit
ReleaseOfEscrowDeposit
2000000.0 usd
CY2023Q1 kfs Short Term Investments Fair Value Disclosure
ShortTermInvestmentsFairValueDisclosure
200000 usd
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
11500000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
13100000 usd

Files In Submission

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kfs-20230331_def.xml Edgar Link unprocessable
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