Company: KG
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0002055116-25-000018
Chunk: 129

Company: Kestrel Group Ltd
Filing Date: 2025-08-15
Form: 10-Q
Item: Item 1
Chunk 129
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 our business and any potential future underwriting process, therefore their inclusion would distort the analysis of underlying trends in our operations. 

 79

As defined and described in the Key Financial Measures section, management uses certain key financial measures, some of which are non-GAAP measures, to evaluate the Company's financial performance and the overall growth in value generated for the Company’s common shareholders. Management believes that these measures, which may be defined differently by other companies, explain the Company’s results to investors in a manner that allows for a more complete understanding of the underlying trends in the Company’s business. The calculation, reconciliation to nearest GAAP measure and discussion of relevant non-GAAP measures used by management are as follows:

For the Three Months Ended June 30,20252024($ in thousands except per share data)Net income (loss)$69,927 $(547)Add (subtract):Net realized and unrealized investment gains(1,058)— Foreign exchange and other losses5,009 — Bargain purchase gain(73,590)—  Net loss from discontinued operations495 — Change in fair value of earn out consideration2,679 — Non-GAAP operating earnings (loss)$3,462 $(547)Diluted earnings (loss) per share attributable to common shareholders$15.05 $(0.20)Add (subtract):Net realized and unrealized investment gains(0.23)— Foreign exchange and other losses1.08 — Bargain purchase gain(15.88)—  Loss from discontinued operations, net of income tax0.11 — Change in fair value of earn out consideration0.58 — Non-GAAP diluted operating earnings (loss) per share attributable to common shareholders$0.71 $(0.20)For the Six Months Ended June 30,20252024($ in thousands except per share data)Net income (loss) attributable to Kestrel common shareholders$69,533 $(924)Add (subtract):Net realized and unrealized investment gains(1,058)— Foreign exchange and other losses5,009 — Bargain purchase gain(73,590)—  Net loss from discontinued operations495 — Change in fair value of earn out consideration2,679 — Non-GAAP operating earnings (loss)$3,068 $(924)Diluted income (loss) per share attributable to common shareholders$18.80 $(0.34)Add (