Cannae Holdings, Inc. (CNNE) SEC Filings & Earnings Calls

Restaurant segment goodwill impairment

“the Company recognized a goodwill impairment loss of $32.1 million during the three months ended June 30, 2026” · word for word

Cash burn and liquidity risk

“Net cash used in operating activities $(26.4) ... Net decrease in cash and cash equivalents $(110.0)”

Restaurant revenue decline

“Restaurant revenue $92.0 ... $101.9” · word for word

Limited disclosure on the sale; no gain/loss or strategic rationale provided.

“sold all of its interest in Watkins Holdings, LLC for cash proceeds of $90 million” · word for word

Related party transaction with Chairman William P. Foley II; sale of Brasada Ranch and amendment to DSA.

“sale of its interest in Brasada Ranch to a company owned by William P. Foley, II” · word for word

CFO departure may create short-term uncertainty; interim CFO appointed.

“CFO resignation; interim CFO appointed”

Restaurant revenue decline

“Restaurant revenue $91.9 million for three months ended March 31, 2026, compared to $99.1 million for the same period in 2025.”

Equity method investment losses

“Equity in losses of unconsolidated affiliates $(5.8) million for three months ended March 31, 2026, compared to $(1.9) million for the same period in 2025.”

Cash burn from buybacks and dividends

“Treasury stock repurchases $(14.7) million and dividends paid $(6.9) million for three months ended March 31, 2026.”

Say-on-Pay failure and activist pressure

“Our shareholders rejected our Say-on-Pay Proposal, with 51.6% of the votes cast against the proposal.” · word for word

Key man risk / transition risk

“William P. Foley II transitioned from CEO to non-executive Vice Chairman; significant compensation and share repurchase agreements.”

Portfolio concentration risk

“Cannae is concentrating on sports and entertainment investments, which may be volatile and illiquid.”

Limited borrowing capacity due to Alight stock trading levels

“In light of limited borrowing capacity under the facility related to current trading levels of Alight, Inc. stock” · word for word

Material weakness in internal control over financial reporting

“The Company did not maintain effective internal control over financial reporting as it relates to the determination of impairment charges for Right of Use ('ROU') and Fixed Assets held at the Restaurant Group.” · word for word

Alight goodwill impairment risk

“Goodwill impairment 3,124.0 — —” · word for word

Restaurant Group margin pressure

“Cost of restaurant revenue as a percentage of restaurant revenue was approximately 91.7%, 88.5%, and 88.6% in the years ended December 31, 2025, 2024 and 2023, respectively.” · word for word

Valuation allowance on deferred tax assets

“As of December 31, 2025, the Company has a federal valuation allowance of $155.3 million representing a full valuation allowance on our federal deferred taxes where it is not more likely than not that the tax benefit will be realized.” · word for word

BKFC relegation risk

“Relegation from the Premier League to lower tiers of the English Football League system would result in a significant decrease in the media rights revenue earned by AFCB.” · word for word

No specific risks disclosed in excerpt.

“No risk factors mentioned.”

Concentration in Alight investment

“Alight impairment of $59.1M; fair value $132.0M vs carrying $147.4M; equity loss $(81.7)M in Q3.”

Restaurant segment decline

“Restaurant revenue declined 7.3% YoY in Q3 and 6.5% YTD.”

Valuation allowance on deferred tax assets

“Recorded a valuation allowance of $99.0 million primarily related to federal NOL carryforwards.”

Put Right liability

“Put Right liability $13.2M; potential repurchase of 2.4M shares at premium; exercisable from Jan 2026.”