Acquisition of MLC Plumbing
Kingsway Financial Services Inc. acquired MLC Plumbing, a 100+ year-old business, for $5 million, contributing approximately $800,000 of annual adjusted EBITDA.
Acquisition of Viewpoint
Viewpoint, a leading cloud-native timeshare software provider, was acquired, adding over $1 million of unaudited annual recurring revenue and $200,000 of unaudited EBITDA.
Revenue and EBITDA Growth in KSX
The KSX segment's revenue and adjusted EBITDA each grew 23% year on year.
Extended Warranty Cash Sales Increase
Cash sales in the extended warranty segment grew 3.7% year over year and 9.3% sequentially.
New Board Appointments
Two new independent directors, Adam Patinkin and Joshua Horowitz, were appointed to strengthen leadership and corporate governance.