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As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q1 YTD 3/31/2019 USD
Source Document Currency Code 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q1 YTD 3/31/2019 USD

Revenue

Net premiums earned 25,934 30,448 35,202 54,357 15,589
Net investment income 362 544 965 1,617 1,031
Other income 834 1,264 1,981 2,246 774
Total revenue 27,130 32,256 38,148 58,220 17,394

Expenses

Net losses and loss adjustment expenses 9,939 16,372 15,900 27,413 9,279
Amortization of deferred policy acquisition costs 6,571 8,492 11,080 15,313 4,269
General and administrative expenses 7,253 6,918 9,304 13,563 3,701
Loss on termination of Management Services Agreement 5,421 NA NA NA NA
Accretion of discount on Series B Preferred Shares 282 355 372 33 0
Loss on repurchase of Series B Preferred Shares and Performance Shares NA NA 0 1,612 0
Total expenses 29,466 32,137 36,656 57,934 17,249
Income before income tax expense (2,336) 119 1,492 286 145
Income tax expense (663) 108 1,198 (518) 47
Net income (1,673) 11 294 804 98
Dividends declared on Series A Preferred Shares NA NA 0 1,108 350
Income (loss) attributable to common shareholders NA NA 294 (304) (252)

Net (loss) earnings per common share

Basic and diluted NA 0 0.05 (0.05) NA

Net earnings (loss) per common share

Basic (0.27) NA NA NA (0.04)
Diluted (0.27) NA NA NA (0.04)

Weighted average common shares outstanding

Basic 6,286,706 6,047,979 5,965,051 5,989,742 6,012,764
Diluted 6,286,706 6,047,979 5,970,096 5,989,742 6,012,764

Consolidated Statements of Comprehensive Income

Net income (1,673) 11 294 804 98
Unrealized gains (losses) on investments available for sale, net of income taxes (61) (3) (104) (527) 911
Comprehensive income (1,734) 8 190 277 1,009
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