Filing Flows › Kingsway (KWY) › Q1 2026
Kingsway (KWY) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Kingsway (KWY) reported revenue of $39.0M for the first quarter 2026 (Q1 2026), +37% from a year earlier and +1% from the quarter before. Operating margin was 1.2%, net loss $2.3M (5.8% of revenue).
Kingsway, Q1 2026: revenue $39.0M (+37% year over year), operating margin 1.2%, net loss $2.3M, operating cash flow −$8K. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $39.0M | +1% | +37% |
| Operating profit | $485K | +58% | — |
| Net earnings | −$2.3M | — | — |
| Operating cash flow | −$8K | — | — |
What changed
Revenue was $39.0M in Q1 2026, up 37% year over year and up 1% from the previous quarter.
Gross margin was 44.5%, up 1.6 points from Q1 2025. Operating profit was $485K, a 1.2% margin (up 3.8 points year over year). Operating expenses grew 31% against revenue growth of 37%. The fastest-growing cost line was Other operating costs (+123%). The quarter ended with a net loss of $2.3M, wider than the previous quarter's $1.6M loss. Net interest and other expense of $2.8M was the main reason.
Operating cash flow was −$8K. Non-cash charges added back $2.5M of depreciation and amortization and $320K of share-based compensation. Working capital and other items used $532K. Capital expenditures of $390K exceeded it, leaving free cash flow of −$398K.
Questions
What was Kingsway's revenue in the first quarter 2026?
Kingsway (KWY) reported revenue of $39.0M for the first quarter 2026 (Q1 2026), +37% from a year earlier and +1% from the quarter before.
Was Kingsway profitable in the first quarter 2026?
Operating profit was $485K (1.2% of revenue) and net loss $2.3M.
Source: Kingsway 10-Q on SEC EDGAR.