AMBAC FINANCIAL GROUP INC
For the period ended Jun 30, 2025. Filed Aug 7, 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.
Jun 30, 2025 · Filed Aug 7, 2025
OSG$5.41+2.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Total Comprehensive Income (Loss) (Unaudited)
Consolidated Statements of Income (Loss) (Unaudited)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| (Dollars in thousands, except share data) | 2025 | 2024 | 2025 | 2024 |
| Revenues: | ||||
| Commissions | $30,322 | $13,221 | $67,093 | $30,950 |
| Servicing and other fees | 4,472 | — | 9,436 | — |
| Net premiums earned | 16,203 | 27,054 | 31,881 | 52,633 |
| Program fees | 3,497 | 3,328 | 7,149 | 5,895 |
| Investment income | 2,609 | 3,763 | 5,424 | 7,403 |
| Other | (2,146) | 3,671 | (3,270) | 3,707 |
| Total revenues and other income | 54,957 | 51,037 | 117,713 | 100,588 |
| Expenses: | ||||
| Commissions | 7,403 | 7,888 | 17,768 | 17,710 |
| Losses and loss adjustment expenses | 10,978 | 23,024 | 21,474 | 42,379 |
| Policy acquisition costs | 3,699 | 5,399 | 7,540 | 9,823 |
| General and administrative | 40,540 | 27,861 | 79,071 | 45,436 |
| Intangible amortization and depreciation | 9,741 | 1,614 | 18,917 | 3,228 |
| Interest | 5,570 | — | 11,024 | — |
| Total expenses | 77,931 | 65,786 | 155,794 | 118,576 |
| Pretax income (loss) from continuing operations | (22,974) | (14,749) | (38,081) | (17,988) |
| Provision (benefit) for income taxes from continuing operations | (2,172) | (30) | (2,789) | 100 |
| Net income (loss) from continuing operations | (20,802) | (14,719) | (35,292) | (18,088) |
| Net income (loss) from discontinued operations, net of tax (including loss on disposal of $52,960 and $67,456 three and six months ended June 30, 2025) | (52,151) | 14,182 | (82,398) | 38,322 |
| Net income (loss) | (72,953) | (537) | (117,690) | 20,234 |
| Net (gain) loss attributable to noncontrolling interest | 254 | (213) | (1,400) | (914) |
| Net income (loss) attributable to shareholders | $(72,699) | $(750) | $(119,090) | $19,320 |
| Net income (loss) attributable to shareholders | ||||
| Continuing operations | $(20,548) | $(14,932) | (36,692) | (19,002) |
| Discontinued operations | (52,151) | 14,182 | (82,398) | 38,322 |
| Total | $(72,699) | $(750) | (119,090) | 19,320 |
| Net income (loss) from continuing operations per share attributable to shareholders | ||||
| Basic | $(0.45) | $(0.33) | $(1.03) | $(0.42) |
| Diluted | $(0.45) | $(0.33) | $(1.03) | $(0.42) |
| Net income (loss) from discontinued operations per share attributable to shareholders | ||||
| Basic | $(1.08) | $0.31 | $(1.73) | $0.83 |
| Diluted | $(1.08) | $0.31 | $(1.73) | $0.83 |
| Net income (loss) per share attributable to shareholders | ||||
| Basic | $(1.54) | $(0.02) | $(2.75) | $0.42 |
| Diluted | $(1.54) | $(0.02) | $(2.75) | $0.42 |
| Weighted average number of common shares outstanding: | ||||
| Basic | 48,116,503 | 46,209,250 | 47,738,050 | 46,019,145 |
| Diluted | 48,116,503 | 46,209,250 | 47,738,050 | 46,019,145 |
| Ambac Financial Group, Inc. | 3 | Second Quarter 2025 Form 10-Q |
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Consolidated Statements of Comprehensive Income (Loss) (Unaudited)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| (Dollars in thousands, except share data) | 2025 | 2024 | 2025 | 2024 |
| Net income (loss) | $(72,953) | $(537) | $(117,690) | $20,234 |
| Unrealized gains (losses) on securities, net of income tax provision (benefit) of $503, $(197), $1,148, and $414 | (4,647) | 3,870 | 13,959 | (3,147) |
| Gains (losses) on foreign currency translation, net of income tax provision (benefit) of $0, $0, $0, and $0 | 97,484 | 1,268 | 133,704 | (6,502) |
| Credit risk changes of fair value option liabilities, net of income tax provision (benefit) of $48, $(34), $195, and $(118) | 144 | (103) | 586 | (356) |
| Changes to postretirement benefit, net of income tax provision (benefit) of $0, $0, $0, and $0 | — | (4,559) | — | (4,939) |
| Total other comprehensive income (loss), net of income tax | 92,981 | 476 | 148,249 | (14,944) |
| Total comprehensive income (loss), net of income tax | 20,028 | (60) | 30,559 | 5,291 |
| Less: net (gain) loss attributable to noncontrolling interest | 254 | (213) | (1,400) | (914) |
| Less: (gain) loss on foreign currency translation attributable to noncontrolling interest | (21,575) | — | (25,827) | — |
| Total comprehensive income (loss) attributable to shareholders | $(1,293) | $(273) | $3,332 | $4,378 |
| Ambac Financial Group, Inc. | 4 | Second Quarter 2025 Form 10-Q |
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