Kingstone delivered 18.4% revenue growth to $59.8M from personal lines expansion amid NY market dynamics, but severe underwriting losses drove a swing to -$5.8M net income, partially offset by $7.9M free cash flow supporting growth investments.
Key takeaways
Revenue increased 18.4% to $59.8M from $50.5M, primarily due to higher premiums from personal lines business.
Net income swung to -$5.8M from $3.9M profit, reflecting lower underwriting profitability.
Diluted EPS declined to -$0.40 from $0.27 amid the net loss.
Operating cash flow was $8.7M, down from $17.9M primarily due to lower net income adjusted for non-cash items and working capital changes.