Company: KG
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0002055116-25-000018
Chunk: 405

Company: Kestrel Group Ltd
Filing Date: 2025-08-15
Form: 10-Q
Item: Item 2
Chunk 405
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 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 (subtract):Net realized and unrealized investment gains(0.29)— Foreign exchange and other losses1.36 — Bargain purchase gain(19.93)—  Net loss from discontinued operations0.13 — Change in fair value of earn out consideration0.73 — Non-GAAP diluted operating earnings (loss) per share attributable to common shareholders$0.80 $(0.34)

Non-GAAP operating earnings was $3.5 million for the three months ended June 30