ABL · As filed with the SEC
Abacus Global Management cash flow 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 CASH FLOWS · USD
| USD | FY2025 Year ended Dec 31, 2025 | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 |
|---|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||
| Net income (loss) | 37,311,952 | (24,918,037) | 9,034,487 | (643,564) |
| Amortization of prepaid insurance | — | — | — | 425,144 |
| Depreciation and amortization | 18,605,114 | 7,910,158 | 3,409,928 | — |
| Allowance for credit losses | 1,245,575 | — | — | — |
| Impairment of other investment | 500,000 | — | — | — |
| Stock-based compensation | 15,519,382 | 43,435,215 | 10,768,024 | — |
| Amortization of debt issuance costs | 2,405,939 | 936,112 | 43,957 | — |
| Loss on extinguishment of debt | — | 0 | 2,086,303 | — |
| Unrealized loss on equity securities, at fair value | 0 | 238,012 | — | — |
| Unrealized gain on other investments | (204,016) | — | (1,369,112) | — |
| Non-cash gain on policy trades | 0 | (6,422,002) | — | — |
| Loss on change in fair value of debt | — | 4,835,351 | 2,356,058 | — |
| Unrealized gain on policies, at fair value | (49,287,046) | (53,786,829) | (27,889,106) | — |
| Related Party | 89,503,908 | — | — | — |
| Loss (Gain) on change in fair value of debt | (3,362,103) | — | — | — |
| Loss on change in fair value of warrant liability | 1,704,193 | 2,702,040 | 4,204,360 | (9,335,550) |
| Change in fair value of forward purchase agreement liability | — | — | — | (600,000) |
| Gain on deferred underwriting fees waiver | — | — | — | (513,188) |
| Interest earned on marketable securities held in Trust Account | — | — | — | (672,439) |
| Non-cash interest income | (384,618) | — | — | — |
| Deferred income taxes | 824,674 | 5,999,572 | 466,577 | — |
| Non-cash interest expense | — | — | 2,182,221 | — |
| Related Party | 1,588,564 | 3,061,172 | 2,182,221 | — |
| Nonrelated Party | 143,629 | 470,464 | — | — |
| Non-cash lease expense | 422,954 | 352,056 | 17,901 | — |
| Non-cash other income | (1,750,000) | (99,969) | (105,935) | — |
| Prepaid insurance | — | — | — | (398,433) |
| Accounts receivable | (798,821) | (13,202,882) | (2,117,411) | — |
| Accounts receivable, related party | (5,607,465) | 266,030 | 124,565 | — |
| Equity securities, at fair value | 0 | 2,203,367 | (89,057) | — |
| Related Party | 1,420,839 | (466,649) | — | — |
| Prepaid expenses and other current assets | (948,416) | (361,872) | (62,994) | — |
| Other assets | 115,807 | (537,242) | (522,326) | — |
| Accounts payable | — | 0 | (40,014) | — |
| Accrued expenses | 3,948,939 | 802,510 | 3,829,825 | 9,083,264 |
| Accrued transaction costs | 1,852,971 | 483,206 | (908,256) | — |
| Contract liabilities, deposits on pending settlement | (2,304,359) | 1,966,543 | (474,217) | — |
| Other current liabilities | (4,303,850) | 3,858,345 | 3,358,507 | — |
| Income tax payable | 3,022,552 | (751,734) | 751,734 | 52,485 |
| Income tax receivable | 1,688,618 | (2,178,694) | — | — |
| Retrocession fees payable | (44,709) | 1,675,169 | — | — |
| Net change in life settlement policies, at fair value | (49,172,436) | (187,893,057) | (80,598,101) | — |
| Net change in life settlement policies, at cost | 165,672 | 613,201 | 7,018,933 | — |
| Net cash used in operating activities | (25,680,465) | (208,810,444) | (64,523,149) | (2,602,281) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||||
| Trust Account withdrawal for redemption of Class A shares | — | — | — | 248,087,256 |
| Payment into Trust Account | — | — | — | (1,924,356) |
| Trust Account withdrawal for payment of taxes | — | — | — | 335,723 |
| Origination of note receivable | (7,000,000) | — | — | — |
| Acquisition of businesses, net of cash acquired | (1,647,725) | (2,430,620) | — | — |
| Purchase of property and equipment | (931,443) | (786,236) | (189,674) | — |
| Purchase of intangible assets | 0 | (18,900) | — | — |
| Purchase of other investments | (11,699,569) | (200,000) | (350,000) | — |
| Purchase of available for sale securities | (2,000,000) | (1,000,000) | 0 | — |
| Change in due from affiliates | 0 | (519,534) | 2,781,176 | — |
| Net cash used in investing activities | (23,278,737) | (4,955,290) | 2,241,502 | 246,498,623 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||||
| Redemption of Class A Common Stock | — | — | — | (248,087,256) |
| Redeemable Class A Common Stock | — | — | — | (248,087,256) |
| Proceeds from note payable - Related Party | — | — | — | 3,424,356 |
| Issuance of long term debt | 50,000,000 | — | — | — |
| Nonrelated Party | — | 198,475,570 | 99,201,328 | — |
| Related Party | — | 0 | 25,471,648 | — |
| Issuance of long term-debt, at fair value | 26,048,884 | — | — | — |
| Payment of discounts and financing costs | (1,475,195) | (7,475,569) | (5,547,943) | — |
| Repayment of debt | — | — | (26,250,000) | — |
| Nonrelated Party | (1,125,000) | (4,040,758) | — | — |
| Related Party | 0 | (28,189,406) | — | — |
| Repayment of debt, at fair value | (51,226,628) | — | — | — |
| Common stock issuance | 0 | 181,702,400 | — | — |
| Common stock issuance transaction costs | (3,473,280) | (14,812,621) | — | — |
| Repurchase of common stock | (43,783,458) | (10,742,075) | (1,283,062) | — |
| Capital distribution to former members | — | 0 | — | — |
| Transaction costs | 0 | (483,451) | (11,397,402) | — |
| Proceeds received from SPAC trust | — | 0 | 972,262 | — |
| Due to former members | — | — | 442,283 | — |
| Payment of Series A Convertible Preferred dividend | (287,500) | — | — | — |
| Payment of Common dividend | (19,550,571) | — | — | — |
| Related Party | 0 | (1,159,712) | (23,533,073) | — |
| Affiliated Entity | 0 | (5,236) | (258,549) | — |
| Warrant conversions | 0 | 6,852,206 | — | — |
| Net cash (used in) provided by financing activities | (44,872,748) | 320,121,348 | 57,817,492 | (244,662,900) |
| NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (93,831,950) | 106,355,614 | (4,464,155) | (766,558) |
| Cash — Beginning | — | — | 86,572 | 853,130 |
| Cash — Ending | — | — | — | 86,572 |
| Redeemable Class A Common Stock | — | — | — | 2,070,693 |
| Termination of forward purchase agreement | — | — | — | 1,000,000 |
| Deferred underwriting fee payable | — | — | — | (12,075,000) |
| CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD | 131,944,282 | 25,588,668 | 30,052,823 | — |
| CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD | 38,112,332 | 131,944,282 | 25,588,668 | — |
| NON-CASH OPERATING, INVESTING, AND FINANCING ACTIVITIES: | ||||
| Non-cash sale of life settlement policies, at fair value | 0 | 24,957,059 | — | — |
| Non-cash purchase of life settlement policies, at fair value | 0 | 24,957,059 | — | — |
| Non-cash consideration for business acquisition | 9,265,197 | — | — | — |
| Non-cash issuance of debt in connection with business acquisition | 2,002,400 | 72,727,075 | — | — |
| Non-cash issuance of common stock in connection with business acquisition | 1,610,893 | — | — | — |
| Non-cash investment in other investments | 5,000,000 | — | — | — |
| Non-cash issuance of series A convertible preferred stock | 5,000,000 | 77,547,880 | — | — |
| Warrant Conversions | 11,049,193 | — | — | — |
| SUPPLEMENTAL DISCLOSURES: | ||||
| Life settlement policies receipt in lieu of cash in exchange for the SPV Purchased and Sale Note | — | 0 | 10,191,125 | — |
| Life settlement policies distributed to affiliate | — | — | (10,191,125) | — |
| Distribution payable to former members | — | — | (717,429) | — |
| Life settlement policies distributed to affiliate | — | 0 | — | — |
| Interest paid | 34,037,633 | 11,615,613 | (4,035,526) | — |
| Income taxes paid, net of refunds | 9,187,435 | 2,146,846 | (150,000) | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.