Filing Flows › Kingsway (KWY) › Q1 2025
Kingsway (KWY) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Kingsway (KWY) reported revenue of $28.3M for the first quarter 2025 (Q1 2025), +8% from a year earlier and -4% from the quarter before. Operating margin was -2.5%, net loss $3.1M (10.9% of revenue).
Kingsway, Q1 2025: revenue $28.3M (+8% year over year), operating margin -2.5%, net loss $3.1M, operating cash flow −$1.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $28.3M | -4% | +8% |
| Operating profit | −$714K | — | — |
| Net earnings | −$3.1M | — | — |
| Operating cash flow | −$1.8M | — | — |
What changed
Revenue was $28.3M in Q1 2025, up 8% year over year and down 4% from the previous quarter.
Gross margin was 42.9%. Operating costs exceeded revenue by $714K, an operating margin of -2.5%. The fastest-growing cost line was General & admin (+23%). The quarter ended with a net loss of $3.1M, wider than the previous quarter's $1.5M loss. Net interest and other expense of $2.6M was the main reason.
Operating cash flow was −$1.8M. Non-cash charges added back $1.8M of depreciation and amortization and $421K of share-based compensation. Working capital and other items used $1.0M. Capital expenditures of $63K exceeded it, leaving free cash flow of −$1.9M.
Questions
What was Kingsway's revenue in the first quarter 2025?
Kingsway (KWY) reported revenue of $28.3M for the first quarter 2025 (Q1 2025), +8% from a year earlier and -4% from the quarter before.
Was Kingsway profitable in the first quarter 2025?
Operating loss was $714K (-2.5% of revenue) and net loss $3.1M.
Source: Kingsway 10-Q on SEC EDGAR.