A
Abacus Global Management, Inc.
Period
FY 2025
Revenue
$235.24M
Net Income
$36.53M
Total Assets
$902.24M
Equity
$418.54M
Shares Out
95.92M
Op. Cash Flow
$-25.68M
Business
Abacus Global Management, Inc. is a diversified financial services company specializing in life settlements, alternative asset management, and wealth advisory solutions. The company acquires life insurance policies in the secondary market, actively manages them through holding or trading, and provides origination, underwriting, and portfolio servicing. Abacus operates through four divisions: Life Solutions (policy acquisition and AccuQuote digital distribution), Abacus Asset Group (alternative funds and free-cash-flow equity strategies), Abacus Intel (mortality verification and technology services), and Abacus Wealth Advisors (data-driven wealth management). The company serves institutional investors, financial advisors, and retail consumers across 49 U.S. states and international markets.
Summary from 10-K filed 2026-03-13
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Total revenues | 235 | 112 | 66 | 45 | — | |
| Cost of revenue (including stock-based compensation) | 29 | 11 | 6 | 6 | — | |
| Gross Profit | 206 | 101 | 60 | 39 | — | |
| Sales and marketing | 15 | 9 | 5 | 3 | — | |
| General and administrative (including stock-based compensation) | 88 | 82 | 26 | 1 | — | |
| (Gain) loss on change in fair value of debt | −3 | 5 | — | — | — | |
| Unrealized loss on equity securities, at fair value | 0 | 238,012 | −1 | — | — | |
| Realized gain on equity securities, at fair value | 0 | −2 | 0 | — | — | |
| Depreciation and amortization expense | 19 | 8 | 3 | 4,282 | — | |
| Total operating expenses | 118 | 101 | 36 | 5 | — | |
| Operating Income (LOSS) | 89 | −888,304 | 24 | 34 | — | |
| Loss on change in fair value of warrant liability | −2 | −3 | −4 | 9 | 16 | |
| Interest expense | −39 | −18 | −10 | — | — | |
| Interest income | 4 | 2 | 594,764 | 1,474 | — | |
| Other income, net | 625,839 | 38,040 | −146,443 | −347,013 | — | |
| Total other expense | −36 | −19 | −14 | −388,337 | 17 | |
| Net income (loss) before provision for income taxes | 53 | −19 | 11 | 33 | — | |
| Income tax expense | 15 | 5 | 1 | 889,943 | — | |
| NET INCOME (LOSS) | 37 | −25 | 9 | 32 | — | |
| LESS: NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTEREST | 786,683 | −956,987 | −482,139 | 704,699 | — | |
| NET INCOME (LOSS) ATTRIBUTABLE TO ABACUS GLOBAL MANAGEMENT, INC. | 37 | −24 | 10 | 32 | 16 | |
| Earnings (loss) per share - basic (in dollars per share) | 0.38 | −0.34 | 0.17 | 0.63 | — | |
| Earnings (loss) per share - diluted (in dollars per share) | 0.36 | −0.34 | 0.16 | 0.63 | — | |
| Weighted-average stock outstandingbasic (in shares) | 96 | 71 | 57 | 50 | — | |
| Weighted-average stock outstandingdiluted (in shares) | 99 | 71 | 58 | 50 | — | |
| Other comprehensive loss | 0 | −158,579 | −1 | — | — | |
| Reclassification of change in fair value of debt (risk adjusted) upon related debt payoff | 0 | 11,079 | 0 | — | — | |
| Comprehensive income (loss) before non-controlling interests | 37 | −25 | 8 | 34 | — | |
| Net and comprehensive income (loss) attributable to non-controlling interests | 786,683 | −996,114 | −800,311 | 1 | — | |
| COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO ABACUS GLOBAL MANAGEMENT, INC. | 37 | −24 | 9 | 33 | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 38 | 132 | 26 | 30 | — | |
| Income taxes receivable | 411,055 | 2 | 0 | — | — | |
| Prepaid expenses and other current assets | 4 | 3 | 699,127 | 116,646 | — | |
| Total current assets | 70 | 160 | 32 | 33 | 944,755 | |
| Property and equipment, net | 2 | 1 | 400,720 | 18,617 | — | |
| Intangible assets, net | 66 | 80 | 30 | 0 | — | |
| Goodwill | 253 | 238 | 140 | 0 | — | |
| Operating right-of-use assets | 5 | 5 | 2 | 77,011 | — | |
| Life settlement policies, at fair value | 469 | 370 | 122 | 14 | — | |
| Life settlement policies, at cost | 918,305 | 1 | 2 | 9 | — | |
| Available-for-sale securities, at fair value; net of allowance for credit losses of $1,245,575 and $ at December 31, 2025 and 2024, respectively | 3 | 2 | 1 | 1 | — | |
| Other investments | 18 | 2 | 96,107 | 890,829 | — | |
| Other assets | 1 | 2 | 998,945 | — | — | |
| TOTAL ASSETS | 902 | 874 | 332 | 59 | 346 | |
| Current portion of long-term debt, at fair value | 114 | 37 | 13 | — | — | |
| Current portion of long-term debt | 2 | 1 | — | — | — | |
| Accrued expenses | 11 | 6 | 4 | 0 | 144,254 | |
| Current operating lease liabilities | 720,186 | 515,597 | 118,058 | 48,127 | — | |
| Contract liabilities, deposits on pending settlements | 169,184 | 2 | 507,000 | 0 | — | |
| Accrued transaction costs | 2 | 483,206 | 0 | 908,256 | — | |
| Other current liabilities | 16 | 14 | — | — | — | |
| Income taxes payable | 3 | 0 | 751,734 | 0 | — | |
| Total current liabilities | 149 | 62 | 23 | 1 | — | |
| Long-term debt, at fair value | 0 | 105 | 55 | — | — | |
| Retrocession fees payable | 5 | 5 | 0 | — | — | |
| Noncurrent operating lease liabilities | 5 | 5 | 2 | 29,268 | — | |
| Deferred tax liability | 30 | 27 | 9 | 1 | — | |
| Warrant liability | 0 | 9 | 7 | 0 | — | |
| TOTAL LIABILITIES | 479 | 451 | 168 | 31 | 29 | |
| COMMITMENTS AND CONTINGENCIES (Note 12) | — | — | — | — | — | |
| Temporary Equity, Carrying Amount, Attributable to Parent | 5 | — | — | — | — | |
| Preferred stock, $0.0001 par value; 1,000,000 shares authorized; 5,000 shares issued and outstanding at December 31, 2025 and 2024 | 0 | 0 | 0 | 0 | — | |
| Treasury stock - at cost; 7,406,118 and 1,048,226 shares repurchased at December 31, 2025 and 2024, respectively | −56 | −12 | −1 | 0 | — | |
| Additional paid-in capital | 516 | 494 | 200 | 704,963 | — | |
| Accumulated deficit | −42 | −58 | −35 | 25 | −28 | |
| Accumulated other comprehensive income | 0 | 0 | 108,373 | 1 | — | |
| Noncontrolling interest | 0 | −857,831 | 138,283 | 899,538 | — | |
| Total stockholders' equity | 419 | 423 | 164 | 28 | 766,893 | |
| TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS' EQUITY | 902 | 874 | 332 | 59 | 346 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Allowance for credit losses | 1 | 0 | — | — | — | |
| Impairment of other investment | 500,000 | 0 | — | — | — | |
| Stock-based compensation | 16 | 43 | 11 | 0 | — | |
| Amortization of debt issuance costs | 2 | 936,112 | 43,957 | 0 | — | |
| Unrealized gain on other investments | −204,016 | 0 | — | — | — | |
| Non-cash gain on policy trades | 0 | −6 | 0 | — | — | |
| Unrealized gain on policies, at fair value | −49 | −54 | −28 | −6 | — | |
| Non-cash interest income | −384,618 | −99,969 | — | — | — | |
| Deferred income taxes | 824,674 | 6 | 466,577 | 889,943 | — | |
| Non-cash lease expense | 422,954 | 352,056 | 17,901 | 383 | — | |
| Non-cash other income | −2 | 0 | −105,935 | 0 | — | |
| Accounts receivable | −798,821 | −13 | −2 | −10,448 | — | |
| Accounts receivable, related party | −6 | 266,030 | 124,565 | −130,873 | — | |
| Equity securities, at fair value | 0 | 2 | −89,057 | 0 | — | |
| Prepaid expenses and other current assets | −948,416 | −361,872 | −62,994 | −91,741 | — | |
| Other assets | 115,807 | −537,242 | −522,326 | −2 | — | |
| Accrued expenses | 4 | 802,510 | 4 | 0 | 2,939 | |
| Accrued transaction costs | 2 | 483,206 | −908,256 | 908,256 | — | |
| Contract liabilities, deposits on pending settlement | −2 | 2 | −474,217 | 0 | — | |
| Other current liabilities | −4 | 4 | 3 | 22,037 | — | |
| Income tax payable | 3 | −751,734 | 751,734 | 0 | — | |
| Income tax receivable | 2 | −2 | 0 | — | — | |
| Retrocession fees payable | −44,709 | 2 | 0 | — | — | |
| Net change in life settlement policies, at fair value | −49 | −188 | −81 | −8 | — | |
| Net change in life settlement policies, at cost | 165,672 | 613,201 | 7 | −9 | — | |
| Net cash used in operating activities | −26 | −209 | −64 | 11 | −1 | |
| Origination of note receivable | −7 | 0 | — | — | — | |
| Acquisition of businesses, net of cash acquired | −2 | −2 | 0 | — | — | |
| Purchase of property and equipment | −931,443 | −786,236 | −189,674 | 0 | — | |
| Purchase of intangible assets | 0 | −18,900 | 0 | — | — | |
| Purchase of other investments | −12 | −200,000 | −350,000 | −50,000 | — | |
| Purchase of available for sale securities | −2 | −1 | 0 | −750,000 | −250,000 | |
| Change in due from affiliates | 0 | −519,534 | 3 | −3 | — | |
| Net cash used in investing activities | −23 | −5 | 2 | −4 | — | |
| Issuance of long term debt | 50 | 125 | — | — | — | |
| Issuance of long term-debt, at fair value | 26 | 73 | — | — | — | |
| Payment of discounts and financing costs | −1 | −7 | −6 | 0 | — | |
| Repayment of debt, at fair value | −51 | −4 | — | — | — | |
| Common stock issuance | 0 | 182 | 0 | — | — | |
| Common stock issuance transaction costs | −3 | −15 | 0 | — | — | |
| Repurchase of common stock | −44 | −11 | −1 | 0 | — | |
| Transaction costs | 0 | −483,451 | −11 | 0 | — | |
| Payment of Series A Convertible Preferred dividend | −287,500 | 0 | — | — | — | |
| Payment of Common dividend | −20 | 0 | — | — | — | |
| Warrant conversions | 0 | 7 | 0 | — | — | |
| Net cash (used in) provided by financing activities | −45 | 320 | 57 | 23 | 2 | |
| NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | −94 | 106 | −4 | 30 | 263,445 | |
| Non-cash sale of life settlement policies, at fair value | 0 | 25 | 0 | — | — | |
| Non-cash purchase of life settlement policies, at fair value | 0 | 25 | 0 | — | — | |
| Non-cash consideration for business acquisition | 9 | 0 | — | — | — | |
| Non-cash issuance of debt in connection with business acquisition | 2 | 73 | 0 | — | — | |
| Non-cash issuance of common stock in connection with business acquisition | 2 | 78 | — | — | — | |
| Non-cash investment in other investments | 5 | 0 | — | — | — | |
| Non-cash issuance of series A convertible preferred stock | 5 | 0 | 0 | — | — | |
| Warrant Conversions | 11 | 0 | — | — | — | |
| Interest paid | 34 | 12 | 4 | 0 | — | |
| Income taxes paid, net of refunds | 9 | 2 | 150,000 | 0 | — |
Filings
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Frequently asked questions
What is Abacus Global Management, Inc.'s CIK number?
Abacus Global Management, Inc.'s SEC CIK number is 0001814287 (1814287). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Abacus Global Management, Inc.'s SEC filings?
All of Abacus Global Management, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Abacus Global Management, Inc. last report earnings?
Abacus Global Management, Inc. (ABX) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001628280-26-032209). This is Abacus Global Management, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Abacus Global Management, Inc.'s most recent earnings 8-K?
Abacus Global Management, Inc.'s latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001628280-26-032209. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Abacus Global Management, Inc.'s latest earnings 8-K →
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