Kingsway reports fourth quarter and full year 2020 results

Itasca, ill., march 26, 2021 /prnewswire/ - (nyse: kfs) kingsway financial services inc. ("kingsway" or the "company") today announced its operating results for the three and twelve months ended december 31, 2020, which includes the following highlights: extended warranty operating income increased 35% for the twelve months ended december 31, 2020 compared to the same period for 2019, while non-gaap adjusted ebitda increased 27% for the twelve months ended december 31, 2020, compared to the same period for 2019; both increases were partially driven by the acquisition of pwi on december 1, 2020; net cash provided by operating activities improved to $1.7 million for the twelve months ended december 31, 2020, compared to cash used in operating activities of ($0.8) million during the same period in 2019; gaap net loss was ($2.5) million and ($5.4) million for the three and twelve months ended december 31, 2020, compared to a gaap net loss of ($3.1) million and ($4.3) million for the same periods in 2019; non-gaap adjusted income (loss) was $1.0 million and ($1.0) million for the three and twelve months ended december 31, 2020, compared to a non-gaap adjusted loss of ($0.7) million and ($3.4) million for the same periods in 2019.
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