Christian Solberg's questions to Kingsway Financial Services Inc (KFS) leadership • Q2 2025
Question
Christian Solberg of Sun Mountain Partners questioned the components of the $22-23 million run-rate EBITDA, seeking to understand if it included recent post-quarter acquisitions and the reasons for the sequential decline from Q1's run-rate.
Answer
CEO & Director John T. Fitzgerald confirmed the run-rate EBITDA figure was inclusive of the three post-quarter acquisitions. He explained that the sequential decline in the underlying run-rate was fully attributable to challenging year-over-year GAAP performance in the extended warranty segment.