Kingsway Corp

kingsway-financial.com

What Do They Do?

Provides vehicle protection and equipment warranties, business services, and healthcare and trade services to consumers, businesses, and institutions.

How Do They Make Money?

Vehicle service agreement fees are paid in full when the contract starts and earned over its term; consulting, healthcare, software, motor and plumbing services are billed as provided, and warranty commissions are earned when products are sold.

FY2025 revenue

Who Are Their Customers?

Hospitals receive staffing and cardiac monitoring services; vehicle buyers access protection plans through credit unions and dealerships; companies and households use financial, plumbing and other business services.

Do Revenues Turn Into Profits?

No. It lost $10.3M in FY2025.

Operating income, FY2025

−2% of revenue

▼ Now a loss vs FY2024 ($2.2M, 2%)

Net income, FY2025

−8% of revenue

▲ +24% (Loss) vs FY2024 (−$8.3M, −8%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +28%; vs $30.9M in Q2 FY2025
Net income: ▲ Now profitable; vs −$3.2M in Q2 FY2025

May 11, 2026 Sold Trinity Warranty Solutions Sold all of Trinity Warranty Solutions LLC for $5 million cash and $3 million in secured subordinated notes.
Mar 16, 2026 Adam J. Patinkin became board chair Terence M. Kavanagh remains on the board as vice-chair.

Growing. Revenue grew 72% in 4 years, from $78.4M in FY2021 to $135M in FY2025, about 15% a year.

Exited leased real estate The older report included a Leased Real Estate segment and described the Texas property sale; the latest report describes Kingsway through its service and warranty segments.

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