Kingsway Financial Services Inc. (NYSE:KFS) Q2 2024 Earnings Conference Call August 6, 2024 5:00 PM ET Company Participants James Carbonara - Investor Relations John T. Fitzgerald - Chief Executive Officer Kent A. Hansen - Executive Vice President and Chief Financial Officer Conference Call Participants Adam Patinkin - David Capital Operator Good day, and welcome to the Kingsway Second Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will fo ...

Exhibit 99.1 KINGSWAY REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS Management to Host Conference Call Today at 5 p.m. ET Management to Host Investor Day on Monday, May 20 in New York City Chicago - (May 8, 2024) - (NYSE: KFS) Kingsway Financial Services Inc. ("Kingsway" or the "Company") today announced its operating results for the three months ended March 31, 2024. First Quarter 2024 Consolidated Financial Highlights Recent Business Highlights ● On March 22, 2024, the Company entered into a one-year exten ...

FORM 10-Q (Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For Quarterly Period Ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _____ to _____ Commission File Number: 001-15204 Kingsway Financial Services Inc. (Exact name of registrant as specified in its charter) Delaware (State or other ...

Kingsway Financial Services Inc. (NYSE:KFS) Q4 2023 Results Conference Call March 5, 2024 5:00 PM ET Company Participants James Carbonara - IR JT Fitzgerald - President, CEO Kent Hansen - CFO Conference Call Participants Adam Patinkin - David Capital Operator Good day, and welcome to the Kingsway Full Year 2023 Earnings Call. [Operator Instructions] With me on the call are JT Fitzgerald, Chief Executive Officer; and Kent Hansen, Chief Financial Officer. Before we begin, I want to remind everyone that today' ...

Exhibit 99.1 KINGSWAY REPORTS FULL YEAR 2023 FINANCIAL RESULTS Management to Host Conference Call Today at 5 p.m. ET Save the Date: Kingsway to also Host Investor Day at the New York Stock Exchange on May 20, 2024 CHICAGO, March 5, 2024 - (NYSE: KFS) Kingsway Financial Services Inc. ("Kingsway" or the "Company") today announced its operating results for the twelve months ended December 31, 2023, and announces its 2024 Investor Day will take place on May 20, 2024, at the New York Stock Exchange. Full Year 20 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _____ to _____ Commission File Number 001-15204 Kingsway Financial Services Inc. Delaware 85-1792291 (State or other jurisdiction of incorporation or organization) (I.R.S. Em ...

Financial Data and Key Metrics Changes - Consolidated revenue for Q3 2023 was $24.8 million, an increase of 11% from the previous year, while consolidated adjusted EBITDA decreased to $2.3 million from $3.6 million in the prior year [22][31] - Loss from continuing operations was $797,000 for Q3 2023 compared to income of $38.9 million in the same quarter last year, which included a one-time net gain of $37.9 million from the sale of PWSC [11] - Trailing 12-month adjusted EBITDA run rate increased to a range of $19 million to $20 million, up from the previous range of $18 million to $19 million [10][36] Business Line Data and Key Metrics Changes - Extended Warranty segment revenue was $17.3 million in Q3 2023, down from pro forma revenue of $17.9 million a year ago, with adjusted EBITDA declining to $2.1 million from $3.8 million [24][12] - KSX segment revenue increased to $7.5 million in the current quarter from $3.8 million a year ago, with adjusted EBITDA rising to $1.1 million from $0.8 million [6][52] - CSuite delivered a gross margin of 35.6% but faced lower-than-expected revenues due to a disrupted pipeline during the acquisition process [14][82] Market Data and Key Metrics Changes - VSA revenues were down only 1.1% from the prior year, attributed to payment pressures on consumers from higher interest rates and used car prices [50] - Claims in the VSA segment increased by $600,000 compared to the prior year, driven by rising labor and parts costs [51] - SNS experienced a shift from higher-margin travel assignments to per diem assignments, with a 20% decrease in total shifts compared to the previous year [53] Company Strategy and Development Direction - The company aims to target 2 to 3 new acquisitions per year that fit its acquisition criteria and generate annualized EBITDA of $1.5 million to $3 million each [29] - The company is focused on operational excellence while strategically deploying capital for sustainable long-term growth and positive cash flow [29] - The company continues to believe in the long-term health of the Extended Warranty business despite current challenges [13] Management's Comments on Operating Environment and Future Outlook - Management acknowledged persistent macro-level revenue headwinds impacting consumers, including tighter credit conditions and high used car prices [4] - The management expressed confidence in the long-term demand for nurse staffing despite current challenges in the SNS segment [26] - Management highlighted the importance of maintaining a disciplined approach to acquisitions and ensuring adequate covenant headroom in the current interest rate environment [85] Other Important Information - The company completed the acquisition of SPI in September and DDI in October, with plans to acquire 95% of NICR [7][8][23] - The company repurchased a significant amount of its securities, with $16.7 million received from warrant exercises and $3.3 million from the sale of Limbach stock [35][55] - Total outstanding debt decreased to $40.9 million at the end of Q3 2023, down from $102.1 million at the end of the previous year [16] Q&A Session Summary Question: What is the run rate EBITDA pro forma for the recent acquisitions? - The run rate EBITDA pro forma for recent acquisitions is now in the range of $19 million to $20 million [60] Question: What is the pro forma debt at KFS? - Pro forma debt, including new acquisitions, is estimated at $29.5 million [61] Question: How does management feel about levered acquisitions given the current interest rate environment? - Management indicated a conservative approach to leverage, maintaining a senior funded debt-to-EBITDA ratio of 3x or less at closing [85] Question: Does management have a lower bound for interest coverage? - Management would pull back on acquisitions if interest coverage fell below 1x, emphasizing the importance of maintaining adequate coverage ratios [86]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For Quarterly Period Ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _____ to _____ Commission File Number: 001-15204 Kingsway Financial Services Inc. (Exact name of registrant as specified in its charter) Delaware (State or ot ...

Kingsway Financial Services Inc. (NYSE:KFS) Q2 2023 Results Conference Call August 8, 2023 5:00 PM ET Company Participants J.T. Fitzgerald - Chief Executive Officer Kent Hansen - Chief Financial Officer Conference Call Participants Adam Patinkin - David Capital Douglas Ott - Andvari Associates Operator Good day, and welcome to the Kingsway's Second Quarter 2023 Earnings Call. At this time, all participants have been placed on a listen-only mode and the floor will be open for your questions and comments afte ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For Quarterly Period Ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _____ to _____ Commission File Number: 001-15204 Kingsway Financial Services Inc. (Exact name of registrant as specified in its charter) Delaware (State or other j ...