← SEC 公告列表 | KWY SEC 公告 | KINGSWAY Corp(KWY)

季報 季度報告 10-Q 2026-08-06

匯富金融更名Kingsway後首份季報 次季收入增27.6%至3944萬美元

於 SEC 網站開啟原文

AI 繁中摘要

Kingsway Corporation(前稱 Kingsway Financial Services Inc.)已向美國證交會提交截至 2026 年 6 月 30 日止季度的 10-Q 季報。公司於 2026 年 5 月 18 日獲股東批准後正式更名為 Kingsway Corporation,並自 5 月 19 日起在紐約證券交易所改用新股票代號「KWY」買賣。集團繼續採用「搜尋基金」(Search Fund)模式,收購及營運美國輕資產、經常性收入的 B2B 及 B2C 服務企業。 業績重點(未經審計): • 第二季收入錄得 3,944.2 萬美元,較去年同期的 3,091.9 萬美元增長約 27.6%;上半年收入為 7,840.1 萬美元,按年升約 32.3%(去年同期 5,926.8 萬美元)。 • 第二季毛利為 1,712.3 萬美元,毛利率約 43.4%;上半年毛利 3,445.8 萬美元,毛利率約 43.9%。 • 第二季經營虧損收窄至 10.9 萬美元(去年同期虧損 112.6 萬美元);上半年錄得經營溢利 37.6 萬美元,去年同期則為經營虧損 184.0 萬美元。 • 第二季淨收入為 15.7 萬美元,但扣除優先股股息及非控股權益後,歸屬普通股股東的淨虧損為 94.1 萬美元;每股基本及攤薄虧損同為 0.03 美元(去年同期每股虧損 0.13 美元)。 • 上半年歸屬普通股股東淨虧損為 373.4 萬美元,每股虧損 0.13 美元;對比去年同期淨虧損 706.7 萬美元,每股虧損 0.26 美元,虧損幅度明顯收窄。 資產及現金流: • 截至 2026 年 6 月 30 日,總資產約 2.278 億美元,較去年底 2.315 億美元略降。 • 上半年經營活動現金流淨額為正數,錄得 119.6 萬美元(去年同期為負 146.1 萬美元)。 • 期內出售附屬公司(Trinity)帶來收益 134.7 萬美元,相關出售事項有助改善現金流;投資活動現金流淨額為 331.8 萬美元,去年同期為淨流出 1,367.6 萬美元。 • 融資活動現金流淨流出 574.0 萬美元,主要用於償還債務及向非控股權益分派;公司期內並無發行新股或優先股集資。 其他事項: • 公司於期內動用 84 萬美元收購資產,並以票據支付;同時有與收購相關的營運資金結算及託管釋放約 85
展開英文正文
kfs20260630_10q.htm
 
 
 
0001072627
KINGSWAY Corp
false
--12-31
Q2
2026
38,556
36,765
1,150
1,113
3,174
2,587
37,788
34,013
13,428
13,698
0.01
0.01
650,000
650,000
650,000
650,000
650,000
650,000
16,250
16,250
0.01
0.01
50,000,000
50,000,000
29,621,439
29,651,671
28,595,512
28,625,744
1,025,927
1,025,927
11.75
11.75
608
0
38
39,121
37,005
0
0
0
0
0
0
0
0.1
0.7
0
0
0
0.5
1.0
0
0
0
0
3.6
0.4
0.1
0
0
0
0
0
0
1
0
0
0
http://fasb.org/us-gaap/2026#DomesticCountryMember
http://fasb.org/us-gaap/2026#DomesticCountryMember
21
0
3
10
0.3
0
0
2
0.8
0.2
0.2
false
false
false
false
Included in other assets in the consolidated balance sheets.
Potentially dilutive securities consist of stock options and unvested restricted stock awards, calculated using the treasury stock method, and convertible preferred stock, using the if-converted method. Because the Company is reporting a net loss attributable to common shareholders for the three and six months ended June 30, 2026 and June 30, 2025, all potentially dilutive securities outstanding were excluded from the calculation of diluted loss per share since their inclusion would have been anti-dilutive.
Selling, general and administrative expenses and other income not allocated to segments, net includes corporate and non-operating general and administrative expenses, (loss) gain on change in fair value of debt, loss on extinguishment of debt (2025 only) and non-operating other income.
Net of income tax benefit of $0 for the three months ended March 31, 2026 and March 31, 2025.
For the three and six months ended June 30, 2025, unrealized losses on available for sale investments previously included in accumulated other comprehensive loss were reclassified to the interest and investment income, net in the unaudited consolidated statements of operations
Other segment items in the table above for each reportable segment include bank charges, bad debt expense, occupancy expenses, depreciation expense, licenses and taxes, general overhead expenses and miscellaneous income.

00010726272026-01-012026-06-30
xbrli:shares
00010726272026-08-06
iso4217:USD
00010726272026-06-30
00010726272025-12-31
0001072627kfs:ServiceFeesMember2026-06-30
0001072627kfs:ServiceFeesMember2025-12-31
iso4217:USDxbrli:shares
00010726272026-04-012026-06-30
00010726272025-04-012025-06-30
00010726272025-01-012025-06-30
0001072627kfs:CommonStockOutstandingMember2026-03-31
0001072627us-gaap:AdditionalPaidInCapitalMember2026-03-31
0001072627us-gaap:TreasuryStockCommonMember2026-03-31
0001072627us-gaap:RetainedEarningsMember2026-03-31
0001072627us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-03-31
0001072627us-gaap:ParentMember2026-03-31
0001072627kfs:NonredeemableNoncontrollingInterestMember2026-03-31
00010726272026-03-31
0001072627kfs:CommonStockOutstandingMember2026-04-012026-06-30
0001072627us-gaap:AdditionalPaidInCapitalMember2026-04-012026-06-30
0001072627us-gaap:TreasuryStockCommonMember2026-04-012026-06-30
0001072627us-gaap:RetainedEarningsMember2026-04-012026-06-30
0001072627us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-04-012026-06-30
0001072627us-gaap:ParentMember2026-04-012026-06-30
0001072627kfs:NonredeemableNoncontrollingInterestMember2026-04-012026-06-30
0001072627kfs:CommonStockOutstandingMember2026-06-30
0001072627us-gaap:AdditionalPaidInCapitalMember2026-06-30
0001072627us-gaap:TreasuryStockCommonMember2026-06-30
0001072627us-gaap:RetainedEarningsMember2026-06-30
0001072627us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-06-30
0001072627us-gaap:ParentMember2026-06-30
0001072627kfs:NonredeemableNoncontrollingInterestMember2026-06-30
0001072627kfs:CommonStockOutstandingMember2025-03-31
0001072627us-gaap:AdditionalPaidInCapitalMember2025-03-31
0001072627us-gaap:TreasuryStockCommonMember2025-03-31
0001072627us-gaap:RetainedEarningsMember2025-03-31
0001072627us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-03-31
0001072627us-gaap:ParentMember2025-03-31
0001072627kfs:NonredeemableNoncontrollingInterestMember2025-03-31
00010726272025-03-31
0001072627kfs:CommonStockOutstandingMember2025-04-012025-06-30
0001072627us-gaap:AdditionalPaidInCapitalMember2025-04-012025-06-30
0001072627us-gaap:TreasuryStockCommonMember2025-04-012025-06-30
0001072627us-gaap:RetainedEarningsMember2025-04-012025-06-30
0001072627us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-04-012025-06-30
0001072627us-gaap:ParentMember2025-04-012025-06-30
0001072627kfs:NonredeemableNoncontrollingInterestMember2025-04-012025-06-30
0001072627kfs:CommonStockOutstandingMember2025-06-30
0001072627us-gaap:AdditionalPaidInCapitalMember2025-06-30
0001072627us-gaap:TreasuryStockCommonMember2025-06-30
0001072627us-gaap:RetainedEarningsMember2025-06-30
0001072627us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-06-30
0001072627us-gaap:ParentMember2025-06-30
0001072627kfs:NonredeemableNoncontrollingInterestMember2025-06-30
00010726272025-06-30
0001072627kfs:CommonStockOutstandingMember2025-12-31
0001072627us-gaap:AdditionalPaidInCapitalMember2025-12-31
0001072627us-gaap:TreasuryStockCommonMember2025-12-31
0001072627us-gaap:RetainedEarningsMember2025-12-31
0001072627us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-12-31
0001072627us-gaap:ParentMember2025-12-31
0001072627kfs:NonredeemableNoncontrollingInterestMember2025-12-31
0001072627kfs:CommonStockOutstandingMember2026-01-012026-06-30
0001072627us-gaap:AdditionalPaidInCapitalMember2026-01-012026-06-30
0001072627us-gaap:TreasuryStockCommonMember2026-01-012026-06-30
0001072627us-gaap:RetainedEarningsMember2026-01-012026-06-30
0001072627us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-01-012026-06-30
0001072627us-gaap:ParentMember2026-01-012026-06-30
0001072627kfs:NonredeemableNoncontrollingInterestMember2026-01-012026-06-30
0001072627kfs:CommonStockOutstandingMember2024-12-31
0001072627us-gaap:AdditionalPaidInCapitalMember2024-12-31
0001072627us-gaap:TreasuryStockCommonMember2024-12-31
0001072627us-gaap:RetainedEarningsMember2024-12-31
0001072627us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-12-31
0001072627us-gaap:ParentMember2024-12-31
0001072627kfs:NonredeemableNoncontrollingInterestMember2024-12-31
00010726272024-12-31
0001072627kfs:CommonStockOutstandingMember2025-01-012025-06-30
0001072627us-gaap:AdditionalPaidInCapitalMember2025-01-012025-06-30
0001072627us-gaap:TreasuryStockCommonMember2025-01-012025-06-30
0001072627us-gaap:RetainedEarningsMember2025-01-012025-06-30
0001072627us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-01-012025-06-30
0001072627us-gaap:ParentMember2025-01-012025-06-30
0001072627kfs:NonredeemableNoncontrollingInterestMember2025-01-012025-06-30
xbrli:pure
0001072627kfs:MLCPlumbingLLCMember2025-03-14
0001072627kfs:MLCPlumbingLLCMember2025-03-142025-03-14
0001072627kfs:MLCPlumbingLLCMember2025-04-012025-06-30
0001072627kfs:MLCPlumbingLLCMember2025-03-142025-06-30
0001072627kfs:RoundhouseElectricEquipmentCoIncMember2025-07-01
0001072627kfs:RoundhouseElectricEquipmentCoIncMember2025-07-012025-07-01
0001072627kfs:RoundhouseElectricEquipmentCoIncMember2026-01-012026-06-30
0001072627kfs:RoundhouseElectricEquipmentCoIncMember2025-10-012025-12-31
0001072627kfs:AdvancedPlumbingAndDrainMember2025-08-012025-08-01
0001072627kfs:AdvancedPlumbingAndDrainMember2026-01-012026-03-31
0001072627kfs:AdvancedPlumbingAndDrainMember2025-08-01
0001072627kfs:SouthsidePlumbingMember2025-08-14
0001072627kfs:SouthsidePlumbingMember2025-08-142025-08-14
0001072627kfs:SouthsidePlumbingMember2026-01-012026-03-31
0001072627kfs:SouthsidePlumbingMember2025-08-14
0001072627kfs:MLCPlumbingLLCMemberkfs:SellerNoteMember2025-03-142025-03-14
0001072627kfs:RoundhouseElectricEquipmentCoIncMemberkfs:SellerNoteMember2025-07-012025-07-01
0001072627kfs:AdvancedPlumbingAndDrainMemberkfs:SellerNoteMember2025-08-012025-08-01
0001072627kfs:SouthsidePlumbingMemberkfs:SellerNoteMember2025-08-142025-08-14
0001072627kfs:MLCPlumbingLLCMemberkfs:ContingentConsiderationMember2025-03-142025-03-14
0001072627kfs:RoundhouseElectricEquipmentCoIncMemberkfs:ContingentConsiderationMember2025-07-012025-07-01
0001072627kfs:AdvancedPlumbingAndDrainMemberkfs:ContingentConsiderationMember2025-08-012025-08-01
0001072627kfs:SouthsidePlumbingMemberkfs:ContingentConsiderationMember2025-08-142025-08-14
0001072627kfs:SellerPhantomEquityAwardMemberkfs:RoundhouseElectricEquipmentCoIncMember2025-01-012025-12-31
0001072627kfs:MLCPlumbingLLCMemberus-gaap:TradeNamesMember2025-03-14
0001072627kfs:RoundhouseElectricEquipmentCoIncMemberus-gaap:TradeNamesMember2025-07-01
0001072627kfs:AdvancedPlumbingAndDrainMemberus-gaap:TradeNamesMember2025-08-01
0001072627kfs:SouthsidePlumbingMemberus-gaap:TradeNamesMember2025-08-14
0001072627kfs:MLCPlumbingLLCMemberus-gaap:CustomerRelationshipsMember2025-03-14
0001072627kfs:RoundhouseElectricEquipmentCoIncMemberus-gaap:CustomerRelationshipsMember2025-07-01
0001072627kfs:AdvancedPlumbingAndDrainMemberus-gaap:CustomerRelationshipsMember2025-08-01
0001072627kfs:SouthsidePlumbingMemberus-gaap:CustomerRelationshipsMember2025-08-14
0001072627kfs:SouthsidePlumbingMember2025-08-01
0001072627kfs:ImageSolutionsLlcMember2025-08-14
0001072627kfs:SouthsidePlumbingMemberus-gaap:MeasurementInputDiscountRateMember2025-08-14
0001072627us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberkfs:TrinityMember2026-05-08
0001072627us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberkfs:TrinityMember2026-05-082026-05-08
0001072627us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberkfs:TrinityMember2026-04-012026-06-30
0001072627us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberkfs:TrinityMember2025-04-012025-06-30
0001072627us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberkfs:TrinityMember2026-01-012026-06-30
0001072627us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberkfs:TrinityMember2025-01-012025-06-30
0001072627kfs:LimitedLiabilityInvestmentsMember2026-06-30
0001072627kfs:LimitedLiabilityInvestmentsMember2025-12-31
0001072627us-gaap:USGovernmentAgenciesDebtSecuritiesMember2026-06-30
0001072627us-gaap:USStatesAndPoliticalSubdivisionsMember2026-06-30
0001072627us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2026-06-30
0001072627us-gaap:AssetBackedSecuritiesMember2026-06-30
0001072627us-gaap:CorporateDebtSecuritiesMember2026-06-30
0001072627us-gaap:USGovernmentAgenciesDebtSecuritiesMember2025-12-31
0001072627us-gaap:USStatesAndPoliticalSubdivisionsMember2025-12-31
0001072627us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2025-12-31
0001072627us-gaap:AssetBackedSecuritiesMember2025-12-31
0001072627us-gaap:CorporateDebtSecuritiesMember2025-12-31
0001072627us-gaap:FixedMaturitiesMember2026-06-30
0001072627us-gaap:FixedMaturitiesMember2025-12-31
0001072627kfs:LimitedLiabilityInvestmentsMember2026-01-012026-06-30
0001072627kfs:LimitedLiabilityInvestmentsMember2026-04-012026-06-30
0001072627kfs:LimitedLiabilityInvestmentsMember2025-04-012025-06-30
0001072627kfs:LimitedLiabilityInvestmentsMember2025-01-012025-06-30
0001072627us-gaap:FixedMaturitiesMember2026-04-012026-06-30
0001072627us-gaap:FixedMaturitiesMember2025-04-012025-06-30
0001072627us-gaap:FixedMaturitiesMember2026-01-012026-06-30
0001072627us-gaap:FixedMaturitiesMember2025-01-012026-06-30
0001072627kfs:LimitedLiabilityInvestmentsFairValueMember2026-04-012026-06-30
0001072627kfs:LimitedLiabilityInvestmentsFairValueMember2025-04-012025-06-30
0001072627kfs:LimitedLiabilityInvestmentsFairValueMember2026-01-012026-06-30
0001072627kfs:LimitedLiabilityInvestmentsFairValueMember2025-01-012026-06-30
0001072627kfs:PrivateCompanyInvestmentsMember2026-04-012026-06-30
0001072627kfs:PrivateCompanyInvestmentsMember2025-04-012025-06-30
0001072627kfs:PrivateCompanyInvestmentsMember2026-01-012026-06-30
0001072627kfs:PrivateCompanyInvestmentsMember2025-01-012026-06-30
00010726272025-01-012026-06-30
0001072627us-gaap:OperatingSegmentsMemberkfs:KingswaySearchXceleratorMember2025-12-31
0001072627us-gaap:OperatingSegmentsMemberkfs:ExtendedWarrantySegmentMember2025-12-31
0001072627us-gaap:OperatingSegmentsMemberkfs:KingswaySearchXceleratorMember2026-01-012026-06-30
0001072627us-gaap:OperatingSegmentsMemberkfs:ExtendedWarrantySegmentMember2026-01-012026-06-30
0001072627us-gaap:OperatingSegmentsMemberkfs:KingswaySearchXceleratorMember2026-06-30
0001072627us-gaap:OperatingSegmentsMemberkfs:ExtendedWarrantySegmentMember2026-06-30
0001072627kfs:KingswaySearchXceleratorMember2026-01-012026-06-30
0001072627us-gaap:CustomerRelationshipsMember2026-06-30
0001072627us-gaap:DevelopedTechnologyRightsMember2026-06-30
0001072627us-gaap:TradeNamesMember2026-06-30
0001072627us-gaap:CustomerRelationshipsMember2025-12-31
0001072627us-gaap:DevelopedTechnologyRightsMember2025-12-31
0001072627us-gaap:TradeNamesMember2025-12-31
0001072627kfs:KingswaySearchXceleratorMemberus-gaap:CustomerRelationshipsMember2026-01-012026-06-30
0001072627kfs:KingswaySearchXceleratorMemberus-gaap:TradeNamesMember2026-01-012026-06-30
utr:Y
0001072627srt:MinimumMember2026-06-30
0001072627srt:MaximumMember2026-06-30
0001072627kfs:CsuiteAcquisitionLlcMemberus-gaap:TradeNamesMember2026-06-30
0001072627kfs:SecureNursingServiceIncMemberus-gaap:TradeNamesMember2026-03-31
0001072627us-gaap:LeaseholdImprovementsMember2026-06-30
0001072627us-gaap:FurnitureAndFixturesMember2026-06-30
0001072627us-gaap:ComputerEquipmentMember2026-06-30
0001072627kfs:MedicalEquipmentMember2026-06-30
0001072627us-gaap:VehiclesMember2026-06-30
0001072627us-gaap:MachineryAndEquipmentMember2026-06-30
0001072627us-gaap:LeaseholdImprovementsMember2025-12-31
0001072627us-gaap:FurnitureAndFixturesMember2025-12-31
0001072627us-gaap:ComputerEquipmentMember2025-12-31
0001072627kfs:MedicalEquipmentMember2025-12-31
0001072627us-gaap:VehiclesMember2025-12-31
0001072627us-gaap:MachineryAndEquipmentMember2025-12-31
0001072627kfs:KsxBankTermLoansMemberus-gaap:NotesPayableToBanksMember2026-06-30
0001072627kfs:KsxBankTermLoansMemberus-gaap:NotesPayableToBanksMember2025-12-31
0001072627kfs:KsxRevolverMemberus-gaap:NotesPayableToBanksMember2026-06-30
0001072627kfs:KsxRevolverMemberus-gaap:NotesPayableToBanksMember2025-12-31
0001072627kfs:ExtendedWarrantyTermLoanAndDdtlMemberus-gaap:NotesPayableToBanksMember2026-06-30
0001072627kfs:ExtendedWarrantyTermLoanAndDdtlMemberus-gaap:NotesPayableToBanksMember2025-12-31
0001072627kfs:ExtendedWarrantyRevolverMemberus-gaap:NotesPayableToBanksMember2026-06-30
0001072627kfs:ExtendedWarrantyRevolverMemberus-gaap:NotesPayableToBanksMember2025-12-31
0001072627us-gaap:NotesPayableToBanksMember2026-06-30
0001072627us-gaap:NotesPayableToBanksMember2025-12-31
0001072627kfs:KsxNotesPayableMemberus-gaap:NotesPayableOtherPayablesMember2026-06-30
0001072627kfs:KsxNotesPayableMemberus-gaap:NotesPayableOtherPayablesMember2025-12-31
0001072627kfs:KsxVehicleLoansMemberus-gaap:NotesPayableOtherPayablesMember2026-06-30
0001072627kfs:KsxVehicleLoansMemberus-gaap:NotesPayableOtherPayablesMember2025-12-31
0001072627kfs:KsxEquipmentLoansMemberus-gaap:NotesPayableOtherPayablesMember2026-06-30
0001072627kfs:KsxEquipmentLoansMemberus-gaap:NotesPayableOtherPayablesMember2025-12-31
0001072627us-gaap:NotesPayableOtherPayablesMember2026-06-30
0001072627us-gaap:NotesPayableOtherPayablesMember2025-12-31
0001072627us-gaap:SubordinatedDebtMember2026-06-30
0001072627us-gaap:SubordinatedDebtMember2025-12-31
0001072627kfs:RavixBankLoanMemberkfs:RavixFinancialIncMember2021-10-01
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:RavixBankLoanMemberkfs:RavixFinancialIncMember2021-10-01
0001072627kfs:AmendedRavixBankLoanMemberkfs:RavixFinancialIncMember2022-11-16
0001072627kfs:AmendedRavixBankLoanMemberkfs:RavixFinancialIncMember2026-06-30
0001072627kfs:AmendedRavixBankLoanMemberkfs:RavixFinancialIncMember2025-12-31
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:RavixBankLoanMemberkfs:RavixFinancialIncMember2025-12-31
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:RavixBankLoanMemberkfs:RavixFinancialIncMember2026-06-30
0001072627kfs:RavixBankLoan2025Memberkfs:RavixFinancialIncMember2025-02-27
0001072627kfs:RavixBankLoan2025Memberkfs:RavixFinancialIncMember2025-02-272025-02-27
0001072627kfs:RavixBankLoan2025Memberkfs:RavixFinancialIncMember2026-01-02
0001072627kfs:RavixBankLoan2025Memberkfs:RavixFinancialIncMemberus-gaap:PrimeRateMember2025-02-072025-02-07
0001072627kfs:RavixBankLoan2025Memberkfs:RavixFinancialIncMember2026-06-30
0001072627kfs:AmendedRavixBankLoanMemberkfs:RavixFinancialIncMember2025-01-012025-06-30
0001072627kfs:SnsLoanMemberkfs:NursingServiceLLCMember2026-06-30
0001072627kfs:SnsLoanMemberkfs:NursingServiceLLCMember2025-12-31
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:SnsLoanMemberkfs:NursingServiceLLCMember2025-12-31
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:SnsLoanMemberkfs:NursingServiceLLCMember2026-06-30
0001072627kfs:TheSNSLoanMemberkfs:NursingServiceLLCMember2022-11-18
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:TheSNSLoanMemberkfs:NursingServiceLLCMember2022-11-18
0001072627kfs:TheSNSLoanMemberkfs:NursingServiceLLCMemberus-gaap:PrimeRateMember2022-11-182022-11-18
0001072627kfs:TheSNSLoanMemberkfs:NursingServiceLLCMember2022-11-182022-11-18
0001072627kfs:TheSNSLoanMemberkfs:NursingServiceLLCMember2026-06-30
0001072627kfs:TheSNSLoanMemberkfs:NursingServiceLLCMember2025-12-31
0001072627kfs:DDILoanMemberkfs:DigitalDiagnosticsImagingIncDdiMember2026-06-30
0001072627kfs:DDILoanMemberkfs:DigitalDiagnosticsImagingIncDdiMember2025-12-31
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:DDILoanMemberkfs:DigitalDiagnosticsImagingIncDdiMember2026-06-30
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:DDILoanMemberkfs:DigitalDiagnosticsImagingIncDdiMember2025-12-31
0001072627kfs:DDILoanMemberkfs:DigitalDiagnosticsImagingIncDdiMember2023-10-26
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:DDILoanMemberkfs:DigitalDiagnosticsImagingIncDdiMember2023-10-26
0001072627kfs:DDILoanMemberkfs:DigitalDiagnosticsImagingIncDdiMemberus-gaap:PrimeRateMember2023-10-262023-10-26
0001072627kfs:DDILoanMemberkfs:DigitalDiagnosticsImagingIncDdiMember2023-10-262023-10-26
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:DDILoanMemberkfs:DigitalDiagnosticsImagingIncDdiMember2026-01-012026-06-30
0001072627kfs:ImageSolutionsLoanMemberkfs:ImageSolutionsLlcMember2026-06-30
0001072627kfs:ImageSolutionsLoanMemberkfs:ImageSolutionsLlcMember2025-12-31
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:ImageSolutionsLoanMemberkfs:ImageSolutionsLlcMember2026-03-31
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:ImageSolutionsLoanMemberkfs:ImageSolutionsLlcMember2025-12-31
0001072627kfs:ImageSolutionsLoanMemberkfs:ImageSolutionsLlcMember2024-09-26
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:ImageSolutionsLoanMemberkfs:ImageSolutionsLlcMember2024-09-26
0001072627kfs:ImageSolutionsLoanMemberkfs:ImageSolutionsLlcMemberus-gaap:PrimeRateMember2024-09-262024-09-26
0001072627kfs:ImageSolutionsLoanMemberkfs:ImageSolutionsLlcMembersrt:MinimumMember2024-09-262024-09-26
0001072627kfs:RoundhouseLoanMemberkfs:LonghornsLlcMember2026-06-30
0001072627kfs:RoundhouseLoanMemberkfs:LonghornsLlcMember2025-12-31
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:RoundhouseLoanMemberkfs:LonghornsLlcMember2026-03-31
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:RoundhouseLoanMemberkfs:LonghornsLlcMember2025-12-31
0001072627kfs:RoundhouseLoanMemberkfs:LonghornsLlcMember2025-07-01
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:RoundhouseLoanMemberkfs:LonghornsLlcMember2025-07-01
0001072627kfs:RoundhouseLoanMemberkfs:LonghornsLlcMemberus-gaap:SecuredOvernightFinancingRateSofrMember2025-07-012025-07-01
0001072627kfs:RoundhouseLoanMemberkfs:LonghornsLlcMember2025-07-012025-07-01
0001072627kfs:KphLoanMemberkfs:KingswayPlumbingHoldcoLlcMember2026-03-31
0001072627kfs:KphLoanMemberkfs:KingswayPlumbingHoldcoLlcMember2025-12-31
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:KphLoanMemberkfs:KingswayPlumbingHoldcoLlcMember2026-03-31
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:KphLoanMemberkfs:KingswayPlumbingHoldcoLlcMember2025-12-31
0001072627kfs:KphLoanMemberkfs:KingswayPlumbingHoldcoLlcMember2025-08-14
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:KphLoanMemberkfs:KingswayPlumbingHoldcoLlcMember2025-08-14
0001072627kfs:KphLoanMemberkfs:KingswayPlumbingHoldcoLlcMemberus-gaap:PrimeRateMember2025-08-142025-08-14
0001072627kfs:KphLoanMemberkfs:KingswayPlumbingHoldcoLlcMembersrt:MinimumMember2025-08-142025-08-14
0001072627kfs:KphLoanMemberkfs:KingswayPlumbingHoldcoLlcMember2026-06-30
0001072627kfs:KWHBankLoanMemberkfs:PWIHoldingsMember2026-06-30
0001072627kfs:KWHBankLoanMemberkfs:PWIHoldingsMember2025-12-31
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:SecondAmendmentToKwhLoanMember2026-06-30
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:SecondAmendmentToKwhLoanMember2025-12-31
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:KWHBankLoanMemberkfs:PWIHoldingsMember2026-06-30
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:KWHBankLoanMemberkfs:PWIHoldingsMember2025-12-31
0001072627kfs:KWHBankLoanMemberkfs:PWIHoldingsMember2020-12-01
0001072627kfs:KWHBankLoanMemberkfs:PWIHoldingsMemberkfs:TermLoanMember2020-12-01
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:KWHBankLoanMemberkfs:PWIHoldingsMember2020-12-01
0001072627kfs:KWHBankLoanMember2020-12-01
0001072627kfs:KWHBankLoanMembersrt:MinimumMemberus-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember2020-12-012020-12-01
0001072627kfs:KWHBankLoanMembersrt:MaximumMemberus-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember2020-12-012020-12-01
0001072627kfs:KWHBankLoanMember2026-06-30
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:FifthAmendmentToKwhLoanMember2025-12-17
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:FifthAmendmentToKwhLoanMember2025-12-18
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:KWHBankLoanMember2025-10-012025-12-31
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:KWHBankLoanMember2026-01-012026-03-31
0001072627us-gaap:RevolvingCreditFacilityMemberkfs:KWHBankLoanMember2026-04-012026-06-30
0001072627kfs:RoundhouseNonrevolvingEquipmentLineOfCreditMember2025-07-01
0001072627kfs:RoundhouseNonrevolvingEquipmentLineOfCreditMember2026-03-042026-03-04
0001072627kfs:RoundhouseNonrevolvingEquipmentLineOfCreditMember2026-03-31
0001072627kfs:RavixPromissoryNoteMember2026-01-02
0001072627kfs:AdvancedPlumbingNoteMember2025-08-01
0001072627kfs:SouthsideNoteMember2025-03-14
0001072627us-gaap:SubordinatedDebtMember2003-05-22
0001072627us-gaap:SubordinatedDebtMember2003-12-162003-12-16
0001072627us-gaap:SubordinatedDebtMembersrt:MaximumMemberkfs:LondonInterbankOfferedRateMember2003-12-162003-12-16
0001072627us-gaap:SubordinatedDebtMember2026-04-012026-06-30
0001072627us-gaap:SubordinatedDebtMember2025-04-012025-06-30
0001072627us-gaap:SubordinatedDebtMember2026-01-012026-06-30
0001072627us-gaap:SubordinatedDebtMember2025-01-012025-06-30
0001072627kfs:VehicleServiceAgreementFeesMemberkfs:IWSMemberkfs:ExtendedWarrantySegmentMember2026-04-012026-06-30
0001072627kfs:VehicleServiceAgreementFeesMemberkfs:IWSMemberkfs:ExtendedWarrantySegmentMember2025-04-012025-06-30
0001072627kfs:VehicleServiceAgreementFeesMemberkfs:IWSMemberkfs:ExtendedWarrantySegmentMember2026-01-012026-06-30
0001072627kfs:VehicleServiceAgreementFeesMemberkfs:IWSMemberkfs:ExtendedWarrantySegmentMember2025-01-012025-06-30
0001072627kfs:MaintenanceSupportServiceFeesMemberkfs:TrinityMember2026-04-012026-06-30
0001072627kfs:MaintenanceSupportServiceFeesMemberkfs:TrinityMember2025-04-012025-06-30
0001072627kfs:MaintenanceSupportServiceFeesMemberkfs:TrinityMember2026-01-012026-06-30
0001072627kfs:MaintenanceSupportServiceFeesMemberkfs:TrinityMember2025-01-012025-06-30
0001072627kfs:ExtendedWarrantySegmentMemberkfs:WarrantyProductCommissionsMemberkfs:TrinityMember2026-04-012026-06-30
0001072627kfs:ExtendedWarrantySegmentMemberkfs:WarrantyProductCommissionsMemberkfs:TrinityMember2025-04-012025-06-30
0001072627kfs:ExtendedWarrantySegmentMemberkfs:WarrantyProductCommissionsMemberkfs:TrinityMember2026-01-012026-06-30
0001072627kfs:ExtendedWarrantySegmentMemberkfs:WarrantyProductCommissionsMemberkfs:TrinityMember2025-01-012025-06-30
0001072627kfs:ConsultingFeesMemberkfs:BusinessServicesConsultingMemberkfs:RavixMember2026-04-012026-06-30
0001072627kfs:ConsultingFeesMemberkfs:BusinessServicesConsultingMemberkfs:RavixMember2025-04-012025-06-30
0001072627kfs:ConsultingFeesMemberkfs:BusinessServicesConsultingMemberkfs:RavixMember2026-01-012026-06-30
0001072627kfs:ConsultingFeesMemberkfs:BusinessServicesConsultingMemberkfs:RavixMember2025-01-012025-06-30
0001072627us-gaap:HealthCareMemberkfs:HealthcareSegmentMemberkfs:SnsAndDdiMember2026-04-012026-06-30
0001072627us-gaap:HealthCareMemberkfs:HealthcareSegmentMemberkfs:SnsAndDdiMember2025-04-012025-06-30
0001072627us-gaap:HealthCareMemberkfs:HealthcareSegmentMemberkfs:SnsAndDdiMember2026-01-012026-06-30
0001072627us-gaap:HealthCareMemberkfs:HealthcareSegmentMemberkfs:SnsAndDdiMember2025-01-012025-06-30
0001072627kfs:SoftwareLicenseAndSupportFeesMemberkfs:SystemsProductsInternationalIncspiMember2026-04-012026-06-30
0001072627kfs:SoftwareLicenseAndSupportFeesMemberkfs:SystemsProductsInternationalIncspiMember2025-04-012025-06-30
0001072627kfs:SoftwareLicenseAndSupportFeesMemberkfs:SystemsProductsInternationalIncspiMember2026-01-012026-06-30
0001072627kfs:SoftwareLicenseAndSupportFeesMemberkfs:SystemsProductsInternationalIncspiMember2025-01-012025-06-30
0001072627kfs:MotorSalesAndRepairServiceFeesMemberkfs:RoundhouseSegmentMember2026-04-012026-06-30
0001072627kfs:MotorSalesAndRepairServiceFeesMemberkfs:RoundhouseSegmentMember2025-04-012025-06-30
0001072627kfs:MotorSalesAndRepairServiceFeesMemberkfs:RoundhouseSegmentMember2026-01-012026-06-30
0001072627kfs:MotorSalesAndRepairServiceFeesMemberkfs:RoundhouseSegmentMember2025-01-012025-06-30
0001072627kfs:SkilledTradesRepairAndServiceFeesMemberkfs:MLCPlumbingLLCMember2026-04-012026-06-30
0001072627kfs:SkilledTradesRepairAndServiceFeesMemberkfs:MLCPlumbingLLCMember2025-04-012025-06-30
0001072627kfs:SkilledTradesRepairAndServiceFeesMemberkfs:MLCPlumbingLLCMember2026-01-012026-06-30
0001072627kfs:SkilledTradesRepairAndServiceFeesMemberkfs:MLCPlumbingLLCMember2025-01-012025-06-30
0001072627srt:MinimumMember2026-01-012026-06-30
0001072627srt:MaximumMember2026-01-012026-06-30
0001072627kfs:ServiceFeesMember2026-04-012026-06-30
0001072627kfs:ServiceFeesMember2025-04-012025-06-30
0001072627kfs:ServiceFeesMember2026-01-012026-06-30
0001072627kfs:ServiceFeesMember2025-01-012025-06-30
00010726272026-07-012026-06-30
0001072627kfs:CostToObtainContractMember2026-03-31
0001072627kfs:CostToFulfillContractMember2026-03-31
0001072627kfs:CostToObtainContractMember2025-03-31
0001072627kfs:CostToFulfillContractMember2025-03-31
0001072627kfs:CostToObtainContractMember2026-04-012026-06-30
0001072627kfs:CostToFulfillContractMember2026-04-012026-06-30
0001072627kfs:CostToObtainContractMember2025-04-012025-06-30
0001072627kfs:CostToFulfillContractMember2025-04-012025-06-30
0001072627kfs:CostToObtainContractMember2026-06-30
0001072627kfs:CostToFulfillContractMember2026-06-30
0001072627kfs:CostToObtainContractMember2025-06-30
0001072627kfs:CostToFulfillContractMember2025-06-30
0001072627kfs:CostToObtainContractMember2025-12-31
0001072627kfs:CostToFulfillContractMember2025-12-31
0001072627kfs:CostToObtainContractMember2024-12-31
0001072627kfs:CostToFulfillContractMember2024-12-31
0001072627kfs:CostToObtainContractMember2026-01-012026-06-30
0001072627kfs:CostToFulfillContractMember2026-01-012026-06-30
0001072627kfs:CostToObtainContractMember2025-01-012025-06-30
0001072627kfs:CostToFulfillContractMember2025-01-012025-06-30
thunderdome:item
0001072627us-gaap:EmployeeStockOptionMember2026-04-012026-06-30
0001072627us-gaap:EmployeeStockOptionMember2025-04-012025-06-30
0001072627us-gaap:EmployeeStockOptionMember2026-01-012026-06-30
0001072627us-gaap:EmployeeStockOptionMember2025-01-012025-06-30
0001072627us-gaap:RestrictedStockMember2026-04-012026-06-30
0001072627us-gaap:RestrictedStockMember2025-04-012025-06-30
0001072627us-gaap:RestrictedStockMember2026-01-012026-06-30
0001072627us-gaap:RestrictedStockMember2025-01-012025-06-30
0001072627us-gaap:EmployeeStockOptionMember2026-04-012026-06-30
0001072627us-gaap:EmployeeStockOptionMember2025-04-012025-06-30
0001072627us-gaap:EmployeeStockOptionMember2026-01-012026-06-30
0001072627us-gaap:EmployeeStockOptionMember2025-01-012025-06-30
0001072627us-gaap:RestrictedStockUnitsRSUMember2026-04-012026-06-30
0001072627us-gaap:RestrictedStockUnitsRSUMember2025-04-012025-06-30
0001072627us-gaap:RestrictedStockUnitsRSUMember2026-01-012026-06-30
0001072627us-gaap:RestrictedStockUnitsRSUMember2025-01-012025-06-30
0001072627us-gaap:ConvertibleDebtSecuritiesMember2026-04-012026-06-30
0001072627us-gaap:ConvertibleDebtSecuritiesMember2025-04-012025-06-30
0001072627us-gaap:ConvertibleDebtSecuritiesMember2026-01-012026-06-30
0001072627us-gaap:ConvertibleDebtSecuritiesMember2025-01-012025-06-30
0001072627us-gaap:RestrictedStockMembersrt:OfficerMember2026-04-012026-06-30
0001072627us-gaap:RestrictedStockMember2025-12-31
0001072627us-gaap:RestrictedStockMember2026-06-30
0001072627kfs:RestrictedCommonUnitAwardsMemberkfs:KphRuaMembersrt:OfficerMember2025-03-012025-03-31
0001072627kfs:RestrictedCommonUnitAwardsMemberkfs:KphRuaMembersrt:OfficerMember2026-04-012026-06-30
0001072627srt:BoardOfDirectorsChairmanMember2026-04-012026-06-30
0001072627kfs:NonemployeeConsultantsMember2026-04-012026-06-30
0001072627kfs:NonemployeeConsultantsMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2026-04-012026-06-30
0001072627kfs:NonemployeeConsultantsMemberus-gaap:ShareBasedCompensationAwardTrancheTwoMember2026-04-012026-06-30
0001072627srt:MinimumMemberkfs:NonemployeeConsultantsMemberus-gaap:ShareBasedCompensationAwardTrancheTwoMember2026-06-30
0001072627srt:MaximumMemberkfs:NonemployeeConsultantsMemberus-gaap:ShareBasedCompensationAwardTrancheTwoMember2026-06-30
0001072627us-gaap:EmployeeStockOptionMembersrt:MinimumMember2026-01-012026-06-30
0001072627us-gaap:EmployeeStockOptionMembersrt:MaximumMember2026-01-012026-06-30
0001072627kfs:RedeemableClassBPreferredStockMember2024-09-24
0001072627kfs:RedeemableClassBPreferredStockMember2026-06-30
0001072627kfs:RedeemableClassBPreferredStockMember2026-01-012026-06-30
0001072627srt:MaximumMemberkfs:RedeemableClassBPreferredStockMember2026-06-30
0001072627kfs:RedeemableClassCPreferredStockMember2026-06-30
0001072627kfs:RedeemableClassCPreferredStockMember2026-01-012026-06-30
0001072627srt:MaximumMemberkfs:RedeemableClassCPreferredStockMember2026-06-30
0001072627kfs:RedeemableClassDPreferredStockMember2026-06-30
0001072627kfs:RedeemableClassDPreferredStockMember2026-01-012026-06-30
0001072627srt:MaximumMemberkfs:RedeemableClassDPreferredStockMember2026-06-30
0001072627kfs:RedeemableClassBPreferredStockMember2024-09-242024-09-24
0001072627kfs:RedeemableClassBPreferredStockMember2026-04-012026-06-30
0001072627kfs:RedeemableClassBPreferredStockMember2025-04-012025-06-30
0001072627kfs:RedeemableClassBPreferredStockMember2025-01-012025-06-30
0001072627kfs:RedeemableClassCPreferredStockMember2026-04-012026-06-30
0001072627kfs:RedeemableClassCPreferredStockMember2025-04-012025-06-30
0001072627kfs:RedeemableClassCPreferredStockMember2025-01-012025-06-30
0001072627kfs:RedeemableClassDPreferredStockMember2026-04-012026-06-30
0001072627kfs:RedeemableClassDPreferredStockMember2025-04-012025-06-30
0001072627kfs:RedeemableClassDPreferredStockMember2025-01-012025-06-30
00010726272025-06-242025-06-24
00010726272025-06-24
0001072627kfs:ShareRepurchaseProgramMember2023-03-21
0001072627kfs:ShareRepurchaseProgramMember2025-04-012025-06-30
0001072627kfs:ShareRepurchaseProgramMember2025-01-012025-06-30
0001072627us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2026-03-31
0001072627us-gaap:AccumulatedTranslationAdjustmentMember2026-03-31
0001072627us-gaap:AccumulatedGainLossFinancialLiabilityFairValueOptionAttributableToParentMember2026-03-31
0001072627us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2026-04-012026-06-30
0001072627us-gaap:AccumulatedTranslationAdjustmentMember2026-04-012026-06-30
0001072627us-gaap:AccumulatedGainLossFinancialLiabilityFairValueOptionAttributableToParentMember2026-04-012026-06-30
0001072627us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2026-06-30
0001072627us-gaap:AccumulatedTranslationAdjustmentMember2026-06-30
0001072627us-gaap:AccumulatedGainLossFinancialLiabilityFairValueOptionAttributableToParentMember2026-06-30
0001072627us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2025-03-31
0001072627us-gaap:AccumulatedTranslationAdjustmentMember2025-03-31
0001072627us-gaap:AccumulatedGainLossFinancialLiabilityFairValueOptionAttributableToParentMember2025-03-31
0001072627us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2025-04-012025-06-30
0001072627us-gaap:AccumulatedTranslationAdjustmentMember2025-04-012025-06-30
0001072627us-gaap:AccumulatedGainLossFinancialLiabilityFairValueOptionAttributableToParentMember2025-04-012025-06-30
0001072627us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2025-06-30
0001072627us-gaap:AccumulatedTranslationAdjustmentMember2025-06-30
0001072627us-gaap:AccumulatedGainLossFinancialLiabilityFairValueOptionAttributableToParentMember2025-06-30
0001072627us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2025-12-31
0001072627us-gaap:AccumulatedTranslationAdjustmentMember2025-12-31
0001072627us-gaap:AccumulatedGainLossFinancialLiabilityFairValueOptionAttributableToParentMember2025-12-31
0001072627us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2026-01-012026-06-30
0001072627us-gaap:AccumulatedTranslationAdjustmentMember2026-01-012026-06-30
0001072627us-gaap:AccumulatedGainLossFinancialLiabilityFairValueOptionAttributableToParentMember2026-01-012026-06-30
0001072627us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-12-31
0001072627us-gaap:AccumulatedTranslationAdjustmentMember2024-12-31
0001072627us-gaap:AccumulatedGainLossFinancialLiabilityFairValueOptionAttributableToParentMember2024-12-31
0001072627us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2025-01-012025-06-30
0001072627us-gaap:AccumulatedTranslationAdjustmentMember2025-01-012025-06-30
0001072627us-gaap:AccumulatedGainLossFinancialLiabilityFairValueOptionAttributableToParentMember2025-01-012025-06-30
0001072627kfs:DigitalDiagnosticsImagingIncDdiMember2026-06-30
0001072627kfs:ExtendedWarrantySegmentMember2026-06-30
0001072627kfs:PennMemberMember2026-06-30
0001072627us-gaap:PrimeMember2026-06-30
0001072627us-gaap:OperatingSegmentsMemberkfs:KingswaySearchXceleratorMember2026-04-012026-06-30
0001072627us-gaap:OperatingSegmentsMemberkfs:KingswaySearchXceleratorMember2025-04-012025-06-30
0001072627us-gaap:OperatingSegmentsMemberkfs:KingswaySearchXceleratorMember2025-01-012025-06-30
0001072627us-gaap:OperatingSegmentsMemberkfs:ExtendedWarrantySegmentMember2026-04-012026-06-30
0001072627us-gaap:OperatingSegmentsMemberkfs:ExtendedWarrantySegmentMember2025-04-012025-06-30
0001072627us-gaap:OperatingSegmentsMemberkfs:ExtendedWarrantySegmentMember2025-01-012025-06-30
0001072627us-gaap:OperatingSegmentsMember2026-04-012026-06-30
0001072627us-gaap:OperatingSegmentsMember2025-04-012025-06-30
0001072627us-gaap:OperatingSegmentsMember2026-01-012026-06-30
0001072627us-gaap:OperatingSegmentsMember2025-01-012025-06-30
0001072627kfs:AdvancedPlumbingAndDrainMember2025-07-31
0001072627kfs:AdvancedPlumbingAndDrainMember2025-12-31
0001072627kfs:AdvancedPlumbingAndDrainMember2026-06-30
0001072627kfs:SouthsidePlumbingMember2025-12-31
0001072627kfs:SouthsidePlumbingMember2026-06-30
0001072627us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2026-06-30
0001072627us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2026-06-30
0001072627us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2026-06-30
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2026-06-30
0001072627us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2026-06-30
0001072627us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2026-06-30
0001072627us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2026-06-30
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2026-06-30
0001072627us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2026-06-30
0001072627us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2026-06-30
0001072627us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2026-06-30
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2026-06-30
0001072627us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2026-06-30
0001072627us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2026-06-30
0001072627us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2026-06-30
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2026-06-30
0001072627us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2026-06-30
0001072627us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2026-06-30
0001072627us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2026-06-30
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2026-06-30
0001072627us-gaap:FairValueMeasurementsRecurringMember2026-06-30
0001072627us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2026-06-30
0001072627us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2026-06-30
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2026-06-30
0001072627us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2025-12-31
0001072627us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2025-12-31
0001072627us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2025-12-31
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2025-12-31
0001072627us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2025-12-31
0001072627us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2025-12-31
0001072627us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2025-12-31
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2025-12-31
0001072627us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2025-12-31
0001072627us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2025-12-31
0001072627us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2025-12-31
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2025-12-31
0001072627us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2025-12-31
0001072627us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2025-12-31
0001072627us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2025-12-31
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2025-12-31
0001072627us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2025-12-31
0001072627us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2025-12-31
0001072627us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2025-12-31
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2025-12-31
0001072627us-gaap:FairValueMeasurementsRecurringMember2025-12-31
0001072627us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2025-12-31
0001072627us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2025-12-31
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2025-12-31
0001072627us-gaap:EquityMethodInvestmentsMemberkfs:LimitedLiabilityInvestmentsMember2026-03-31
0001072627us-gaap:EquityMethodInvestmentsMemberkfs:LimitedLiabilityInvestmentsMember2025-03-31
0001072627us-gaap:EquityMethodInvestmentsMemberkfs:LimitedLiabilityInvestmentsMember2025-12-31
0001072627us-gaap:EquityMethodInvestmentsMemberkfs:LimitedLiabilityInvestmentsMember2024-12-31
0001072627us-gaap:EquityMethodInvestmentsMemberkfs:LimitedLiabilityInvestmentsMember2026-04-012026-06-30
0001072627us-gaap:EquityMethodInvestmentsMemberkfs:LimitedLiabilityInvestmentsMember2025-04-012025-06-30
0001072627us-gaap:EquityMethodInvestmentsMemberkfs:LimitedLiabilityInvestmentsMember2026-01-012026-06-30
0001072627us-gaap:EquityMethodInvestmentsMemberkfs:LimitedLiabilityInvestmentsMember2025-01-012025-06-30
0001072627us-gaap:EquityMethodInvestmentsMemberkfs:LimitedLiabilityInvestmentsMember2026-06-30
0001072627us-gaap:EquityMethodInvestmentsMemberkfs:LimitedLiabilityInvestmentsMember2025-06-30
0001072627kfs:ContingentConsiderationLiabilityMember2026-03-31
0001072627kfs:ContingentConsiderationLiabilityMember2025-03-31
0001072627kfs:ContingentConsiderationLiabilityMember2025-12-31
0001072627kfs:ContingentConsiderationLiabilityMember2024-12-31
0001072627kfs:ContingentConsiderationLiabilityMember2026-04-012026-06-30
0001072627kfs:ContingentConsiderationLiabilityMember2025-04-012025-06-30
0001072627kfs:ContingentConsiderationLiabilityMember2026-01-012026-06-30
0001072627kfs:ContingentConsiderationLiabilityMember2025-01-012025-06-30
0001072627kfs:ContingentConsiderationLiabilityMember2026-06-30
0001072627kfs:ContingentConsiderationLiabilityMember2025-06-30
0001072627kfs:SellerPhantomEquityAwardMember2026-03-31
0001072627kfs:SellerPhantomEquityAwardMember2025-03-31
0001072627kfs:SellerPhantomEquityAwardMember2025-12-31
0001072627kfs:SellerPhantomEquityAwardMember2024-12-31
0001072627kfs:SellerPhantomEquityAwardMember2026-04-012026-06-30
0001072627kfs:SellerPhantomEquityAwardMember2025-04-012025-06-30
0001072627kfs:SellerPhantomEquityAwardMember2026-01-012026-06-30
0001072627kfs:SellerPhantomEquityAwardMember2025-01-012025-06-30
0001072627kfs:SellerPhantomEquityAwardMember2026-06-30
0001072627kfs:SellerPhantomEquityAwardMember2025-06-30
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2026-06-30
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueOptionPricingModelMember2026-06-30
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMembersrt:MinimumMemberus-gaap:ValuationTechniqueOptionPricingModelMember2026-06-30
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMembersrt:MaximumMemberus-gaap:ValuationTechniqueOptionPricingModelMember2026-06-30
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputRiskFreeInterestRateMembersrt:MinimumMemberus-gaap:ValuationTechniqueOptionPricingModelMember2026-06-30
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputRiskFreeInterestRateMembersrt:MaximumMemberus-gaap:ValuationTechniqueOptionPricingModelMember2026-06-30
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPriceVolatilityMemberus-gaap:ValuationTechniqueOptionPricingModelMember2026-06-30
0001072627us-gaap:MarketApproachValuationTechniqueMember2026-06-30
0001072627kfs:InternalRateOfReturnMemberus-gaap:MarketApproachValuationTechniqueMember2026-06-30
0001072627us-gaap:FairValueInputsLevel3Memberkfs:LimitedLiabilityInvestmentsMemberus-gaap:MarketApproachValuationTechniqueMember2025-12-31
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMember2025-12-31
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMembersrt:MinimumMemberus-gaap:IncomeApproachValuationTechniqueMember2025-12-31
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMembersrt:MaximumMemberus-gaap:IncomeApproachValuationTechniqueMember2025-12-31
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputRiskFreeInterestRateMembersrt:MinimumMemberus-gaap:IncomeApproachValuationTechniqueMember2025-12-31
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputRiskFreeInterestRateMembersrt:MaximumMemberus-gaap:IncomeApproachValuationTechniqueMember2025-12-31
0001072627us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPriceVolatilityMemberus-gaap:IncomeApproachValuationTechniqueMember2025-12-31
0001072627us-gaap:MarketApproachValuationTechniqueMember2025-12-31
0001072627kfs:InternalRateOfReturnMemberus-gaap:MarketApproachValuationTechniqueMember2025-12-31
0001072627kfs:SellerNoteMemberus-gaap:MeasurementInputDiscountRateMembersrt:MinimumMember2026-05-082026-05-08
0001072627kfs:SellerNoteMemberus-gaap:MeasurementInputDiscountRateMembersrt:MaximumMember2026-05-082026-05-08
0001072627us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2026-06-30
0001072627us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2025-12-31
0001072627us-gaap:RelatedPartyMemberkfs:RedeemableClassBPreferredStockMember2024-09-242024-09-24
0001072627kfs:RedeemableClassCPreferredStockMember2025-02-012025-02-28
0001072627us-gaap:RelatedPartyMemberkfs:RedeemableClassCPreferredStockMember2025-02-012025-02-28
0001072627kfs:RedeemableClassDPreferredStockMember2025-05-082025-05-08
0001072627us-gaap:RelatedPartyMemberkfs:RedeemableClassDPreferredStockMember2025-05-082025-05-08
0001072627us-gaap:CommonStockMember2025-06-242025-06-24
0001072627kfs:BlueRibandFundLpMember2025-06-242025-06-24
0001072627kfs:MrAdamPatinkinMember2026-05-182026-05-18
0001072627kfs:IWSGeminusPWIRavixAndCsuiteMember2026-06-30
0001072627kfs:IWSGeminusPWIRavixAndCsuiteMember2025-12-31
0001072627kfs:StateAndProvincialRegulatoryAuthoritiesMember2025-12-31
0001072627kfs:StateAndProvincialRegulatoryAuthoritiesMember2026-06-30
0001072627kfs:ThirdPartiesMember2026-06-30
0001072627kfs:ThirdPartiesMember2025-12-31

 
  
 

  

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q 

 

 (Mark One)
  

 ☒
 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 

 For Quarterly Period Ended
 June 30, 2026
 

 or
 

 ☐
 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 

 

For the Transition Period from _____ to _____

 

Commission File Number: 001-15204

Kingsway Corporation

(Exact name of registrant as specified in its charter)

 

 

 Delaware
 (State or other jurisdiction of
 incorporation or organization)
   85-1792291
 (I.R.S. Employer
 Identification No.)
 

 

 10 S. Riverside Plaza, Suite 1520, Chicago, IL 60606
 

 (Address of principal executive offices and zip code)
 

 1-312-766-2138
 

 (Registrant's telephone number, including area code)
 

 

 

Securities registered pursuant to Section 12(b) of the Act:  
 

 

Title of each classTrading Symbol(s)Name of each exchange on which registered

 Common Stock, par value $0.01 per share
 KWY New York Stock Exchange
 

 

Indicate by checkmark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

 

Indicate by check mark whether the registrant is a large accelerated fi