AMBAC FINANCIAL GROUP INC
For the period ended Mar 31, 2025. Filed May 12, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 12, 2025
OSG$5.41+2.7%Stored close · as of Nov 10, 2026
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Consolidated Statements of Total Comprehensive Income (Loss) (Unaudited)
| Three Months Ended March 31, | ||
|---|---|---|
| (Dollars in thousands, except share data) | 2025 | 2024 |
| Revenues: | ||
| Net premiums earned | $15,678 | $25,579 |
| Commission income | 36,771 | 17,729 |
| Program fees | 3,652 | 2,567 |
| Servicing and other fees | 4,964 | — |
| Net investment income | 2,815 | 3,640 |
| Other revenue | (1,124) | 36 |
| Total revenues and other income | 62,756 | 49,551 |
| Expenses: | ||
| Losses and loss adjustment expenses | 10,496 | 19,355 |
| Policy acquisition costs | 3,841 | 4,424 |
| Commission expense | 10,365 | 9,822 |
| General and administrative expenses | 38,531 | 17,575 |
| Intangible amortization and depreciation | 9,176 | 1,614 |
| Interest expense | 5,454 | — |
| Total expenses | 77,863 | 52,790 |
| Pretax income (loss) from continuing operations | (15,107) | (3,239) |
| Provision (benefit) for income taxes from continuing operations | (617) | 130 |
| Net income (loss) from continuing operations | (14,490) | (3,369) |
| Net income (loss) from discontinued operations, net of tax (including loss on disposal of $14,496 in 2025) | (30,247) | 24,140 |
| Net income (loss) | (44,737) | 20,771 |
| Less: net (gain) loss attributable to noncontrolling interest | (1,654) | (701) |
| Net income (loss) attributable to Ambac shareholders | $(46,391) | $20,070 |
| Net income (loss) attributable to Ambac shareholders | ||
| Continuing operations | $(16,144) | $(4,070) |
| Discontinued operations | (30,247) | 24,140 |
| Total | $(46,391) | $20,070 |
| Other comprehensive income (loss), after tax | ||
| Net income (loss) | $(44,737) | $20,771 |
| Unrealized gains (losses) on securities, net of income tax provision (benefit) of $645 and $611 | 18,606 | (7,017) |
| Gains (losses) on foreign currency translation, net of income tax provision (benefit) of $0 and $0 | 36,220 | (7,770) |
| Credit risk changes of fair value option liabilities, net of income tax provision (benefit) of $147 and $(84) | 442 | (253) |
| Changes to postretirement benefit, net of income tax provision (benefit) of $0 and $0 | — | (380) |
| Total other comprehensive income (loss), net of income tax | 55,268 | (15,420) |
| Total comprehensive income, net of income tax | 10,531 | 5,351 |
| Less: net (gain) loss attributable to noncontrolling interest | (1,654) | (701) |
| Less: (gain) loss on foreign currency translation attributable to noncontrolling interest | (4,252) | — |
| Total comprehensive income attributable to shareholders | $4,625 | $4,650 |
| Net income (loss) from continuing operations per share attributable to Ambac shareholders | ||
| Basic | $(0.58) | $(0.09) |
| Diluted | $(0.58) | $(0.09) |
| Net income (loss) from discontinued operations per share attributable to Ambac shareholders | ||
| Basic | $(0.64) | $0.53 |
| Diluted | $(0.64) | $0.53 |
| Net income (loss) per share attributable to Ambac shareholders | ||
| Basic | $(1.22) | $0.44 |
| Diluted | $(1.22) | $0.44 |
| Weighted average number of common shares outstanding: | ||
| Basic | 47,313,012 | 45,827,076 |
| Diluted | 47,313,012 | 45,827,076 |
| Ambac Financial Group, Inc. | 3 | First Quarter 2025 Form 10-Q |
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