Atlas Financial Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 10, 2022 at 05:02 pm EST
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Atlas Financial Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported revenue was USD 1.07 million compared to USD 1.78 million a year ago. Net loss was USD 3.75 million compared to USD 4.06 million a year ago. Basic loss per share from continuing operations was USD 0.21 compared to USD 0.31 a year ago. Diluted loss per share from continuing operations was USD 0.21 compared to USD 0.31 a year ago. Basic loss per share was USD 0.21 compared to USD 0.31 a year ago. Diluted loss per share was USD 0.21 compared to USD 0.31 a year ago.
For the nine months, revenue was USD 3.66 million compared to USD 5.36 million a year ago. Net loss was USD 12.93 million compared to USD 5.95 million a year ago. Basic loss per share from continuing operations was USD 0.77 compared to USD 0.45 a year ago. Diluted loss per share from continuing operations was USD 0.77 compared to USD 0.45 a year ago. Basic loss per share was USD 0.77 compared to USD 0.44 a year ago. Diluted loss per share was USD 0.77 compared to USD 0.44 a year ago.
Atlas Financial Holdings, Inc. is a financial service holding company. The Companyâs primary business is generating, underwriting and servicing commercial automobile insurance policies in the United States. The Company focuses on a managing general agency (MGA) strategy, primarily through its wholly owned subsidiary, Anchor Group Management, Inc. (AGMI). AGMI focuses on a niche market orientation for the light commercial automobile sector. This sector includes taxi cabs, limousines, livery, full-time transportation network companies (TNC) drivers/operators, and other specialty commercial auto operators. Automobile insurance products provide insurance coverage in three major areas: liability, accident benefits and physical damage. The Company operates in one business segment: the Managing General Agency segment. The Companyâs subsidiaries include UBI Holdings Inc. (UBI Holdings), optOn Digital IP Inc. (OOIP) and optOn Insurance Agency Inc.