Filing Flows › Kingsway (KWY) › Q2 2025
Kingsway (KWY) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Kingsway (KWY) reported revenue of $30.9M for the second quarter 2025 (Q2 2025), +17% from a year earlier and +9% from the quarter before. Operating margin was -3.6%, net loss $3.2M (10.2% of revenue).
Kingsway, Q2 2025: revenue $30.9M (+17% year over year), operating margin -3.6%, net loss $3.2M, operating cash flow $337K. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $30.9M | +9% | +17% |
| Operating profit | −$1.1M | — | — |
| Net earnings | −$3.2M | — | — |
| Operating cash flow | $337K | — | -39% |
What changed
Revenue was $30.9M in Q2 2025, up 17% year over year and up 9% from the previous quarter.
Gross margin was 42.1%. Operating costs exceeded revenue by $1.1M, an operating margin of -3.6%. The fastest-growing cost line was General & admin (+27%). The quarter ended with a net loss of $3.2M, wider than the previous quarter's $3.1M loss. Net interest and other expense of $2.2M was the main reason.
Operating cash flow was $337K (down 39% year over year). Non-cash charges added back $1.9M of depreciation and amortization and $340K of share-based compensation. Working capital and other items added $1.3M. Capital expenditures of −$63K left free cash flow of $400K.
Questions
What was Kingsway's revenue in the second quarter 2025?
Kingsway (KWY) reported revenue of $30.9M for the second quarter 2025 (Q2 2025), +17% from a year earlier and +9% from the quarter before.
Was Kingsway profitable in the second quarter 2025?
Operating loss was $1.1M (-3.6% of revenue) and net loss $3.2M.
Source: Kingsway 10-Q on SEC EDGAR.