ABL · As filed with the SEC
Abacus Global Management income statement, by fiscal year
The statement as Abacus Global Management presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) · USD, except per-share amounts
| USD, except per-share amounts | FY2025 Year ended Dec 31, 2025 | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 | FY2021 Year ended Dec 31, 2021 | FY2020 Year ended Dec 31, 2020 |
|---|---|---|---|---|---|---|
| REVENUES: | ||||||
| Portfolio services revenue - Related Party | — | — | 778,678 | — | — | — |
| Portfolio services revenue - Nonrelated Party | — | — | 223,496 | — | — | — |
| Originations revenue | — | 5,457,147 | 4,203,900 | — | — | — |
| Investment Income from life insurance policies held using investment method | — | — | 17,980,987 | — | — | — |
| Change in fair value of life insurance policies (policies held using fair value method) | — | — | 43,214,390 | — | — | — |
| Asset management | — | 2,841,481 | — | — | — | — |
| Portfolio services revenue | — | 772,169 | 1,002,174 | — | — | — |
| Originations revenue - Related Party | — | — | 494,972 | — | — | — |
| Originations revenue - Nonrelated Party | — | — | 3,708,928 | — | — | — |
| Technology services | — | 33,628 | — | — | — | — |
| Active management | — | 102,819,361 | 61,195,377 | — | — | — |
| Total revenues | 235,237,636 | 111,923,786 | 66,401,451 | — | — | — |
| Asset management - Nonrelated Party | 4,176,718 | — | — | — | — | — |
| Asset management - Related Party | 29,668,675 | — | — | — | — | — |
| Life solutions - Nonrelated Party | 163,172,600 | — | — | — | — | — |
| Technology services | 717,185 | — | — | — | — | — |
| Life solutions | 200,675,058 | — | — | — | — | — |
| Life solutions - Related Party | 37,502,458 | — | — | — | — | — |
| COST OF REVENUES (excluding depreciation and amortization stated below): | ||||||
| Cost of revenue (including stock-based compensation) | 28,858,034 | 11,371,733 | 6,490,377 | — | — | — |
| Related Party | — | — | 99,456 | — | — | — |
| Nonrelated Party | — | — | 6,390,921 | — | — | — |
| Gross Profit | 206,379,602 | 100,552,053 | 59,911,074 | — | — | — |
| OPERATING EXPENSES: | ||||||
| Sales and marketing | 14,582,253 | 9,063,384 | 4,905,747 | — | — | — |
| General and administrative (including stock-based compensation) | 87,796,971 | 81,734,518 | 26,482,571 | — | — | — |
| Loss on change in fair value of debt | — | 4,835,351 | 2,356,058 | — | — | — |
| Unrealized loss (gain) on investments | — | — | (1,369,112) | — | — | — |
| (Gain) loss on change in fair value of debt | (3,362,103) | — | — | — | — | — |
| Unrealized loss on equity securities, at fair value | 0 | 238,012 | — | — | — | — |
| Realized gain on equity securities, at fair value | 0 | (2,341,066) | — | — | — | — |
| Depreciation and amortization expense | 18,605,114 | 7,910,158 | 3,409,928 | — | — | — |
| Total operating expenses | 117,622,235 | 101,440,357 | 35,785,192 | — | — | — |
| Operating Income (LOSS) | 88,757,367 | (888,304) | 24,125,882 | — | — | — |
| OTHER INCOME (EXPENSE): | ||||||
| Loss on change in fair value of warrant liability | — | — | (4,204,360) | — | — | — |
| Interest (expense) | — | — | (9,866,821) | — | — | — |
| Loss on change in fair value of warrant liability | (1,704,193) | (2,702,040) | — | 9,335,550 | 15,899,200 | — |
| Change in fair value of forward purchase agreement liability | — | — | — | 600,000 | 1,300,000 | — |
| Gain on deferred underwriting fees waiver | — | — | — | 513,188 | — | — |
| Interest earned - bank | — | — | — | 10,031 | 62 | — |
| Interest earned on marketable securities held in Trust Account | — | — | — | 672,439 | 22,784 | — |
| Interest expense | (38,793,937) | (18,279,686) | — | — | — | — |
| Interest income | 3,860,997 | 2,398,691 | 594,764 | — | — | — |
| Other income, net | 625,839 | 38,040 | (146,443) | — | — | — |
| Total other expense | (36,011,294) | (18,544,995) | (13,622,860) | 11,131,208 | 17,222,046 | — |
| Income before provision for income taxes | — | — | — | (591,079) | — | — |
| Net income (loss) before provision for income taxes | 52,746,073 | (19,433,299) | 10,503,022 | — | — | — |
| Income tax expense | 15,434,121 | 5,484,738 | 1,468,535 | 52,485 | — | — |
| NET INCOME (LOSS) | 37,311,952 | (24,918,037) | 9,034,487 | — | — | — |
| LESS: NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTEREST | 786,683 | (956,987) | (482,139) | — | — | — |
| NET INCOME (LOSS) ATTRIBUTABLE TO ABACUS GLOBAL MANAGEMENT, INC. | 36,525,269 | (23,961,050) | 9,516,626 | (643,564) | 15,839,365 | — |
| Class A Common to Possible Redemption | — | — | — | — | 34,500,000 | — |
| Non-redeemable Preferred Stock | — | — | — | — | 8,625,000 | — |
| Class A Common to Possible Redemption | — | — | — | — | 0.37 | — |
| Non-redeemable Preferred Stock | — | — | — | — | 0.37 | — |
| EARNINGS (LOSS) PER SHARE: | ||||||
| Earnings (loss) per share - basic (in dollars per share) | 0.38 | (0.34) | 0.17 | — | — | — |
| Earnings (loss) per share - diluted (in dollars per share) | 0.36 | (0.34) | 0.16 | — | — | — |
| Weighted-average stock outstanding—basic (in shares) | 96,141,753 | 70,761,830 | 56,951,414 | — | — | — |
| Class A Common to Possible Redemption | — | — | — | 23,637,084 | — | — |
| Non-redeemable Preferred Stock | — | — | — | 8,625,000 | — | — |
| Weighted-average stock outstanding—diluted (in shares) | 99,230,950 | 70,761,830 | 57,767,898 | — | — | — |
| Class A Common to Possible Redemption | — | — | — | 23,637,084 | — | — |
| Non-redeemable Preferred Stock | — | — | — | 8,625,000 | — | — |
| Class A Common to Possible Redemption | — | — | — | (0.02) | — | — |
| Non-redeemable Preferred Stock | — | — | — | (0.02) | — | — |
| Class A Common to Possible Redemption | — | — | — | (0.02) | — | — |
| Non-redeemable Preferred Stock | — | — | — | (0.02) | — | — |
| Other comprehensive income (loss), net of tax or tax benefit: | ||||||
| Change in fair value of debt (risk adjusted) | — | — | (1,248,330) | — | — | — |
| Other comprehensive loss | 0 | (158,579) | — | — | — | — |
| Reclassification of change in fair value of debt (risk adjusted) upon related debt payoff | 0 | 11,079 | — | — | — | — |
| Comprehensive income (loss) before non-controlling interests | 37,311,952 | (25,065,537) | 7,786,157 | — | — | — |
| Net and comprehensive income (loss) attributable to non-controlling interests | 786,683 | (996,114) | (800,311) | — | — | — |
| COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO ABACUS GLOBAL MANAGEMENT, INC. | 36,525,269 | (24,069,423) | 8,586,468 | — | — | — |
| Formation and operating costs | — | — | — | 11,722,287 | 1,382,681 | — |
| Loss from operations | — | — | — | (11,722,287) | (1,382,681) | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.