Kingsway reports third quarter 2021 results

Itasca, ill., nov. 4, 2021 /prnewswire/ - (nyse: kfs) kingsway financial services inc. ("kingsway" or the "company") today announced its operating results for the three and nine months ended september 30, 2021, which includes the following highlights: net loss improved to ($0.2) million for the three months ended september 30, 2021, from a net loss of ($1.1) million for the same period in 2020, despite the fact the company recorded a non-cash, current period cumulative adjustment to net loss of $0.5 million in the september 2021 quarter relating to its finalization of the purchase accounting for pwi (see further discussion below) non-gaap adjusted income grew to $2.1 million for the three months ended september 30, 2021, compared to a non-gaap adjusted loss of ($0.4) million for the same period in 2020 extended warranty segment operating income increased to $1.4 million for the three months ended september 30, 2021 compared to $1.2 million for the same period in 2020, despite the fact the company recorded a non-cash, current period cumulative reduction to revenue of $1.9 million in the september 2021 quarter relating to its finalization of the purchase accounting for pwi (see further discussion below) extended warranty segment non-gaap adjusted ebitda improved to $1.5 million for the three months ended june 30, 2021, from $1.4 million for the same period in 2020, despite the fact the company recorded a non-cash, current period cumulative reduction to service fee and commission revenue of $1.9 million in the september 2021 quarter relating to its finalization of the purchase accounting for pwi (see further discussion below) cash provided by operating activities was $3.5 million for the three months ended september 30,2021, compared to $1.4 million for the three months ended september 30,2020.
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