Abacus Global Management Reports Third Quarter 2025 Results
Abacus Global Management (NASDAQ: ABL) reported third quarter 2025 results showing continued momentum: revenue $63.0M, +124% Y/Y, GAAP net income attributable to shareholders of $7.1M (vs. loss prior year), and adjusted net income $23.6M, +60% Y/Y. Adjusted EBITDA rose 127% to $37.9M with a 60.2% adjusted EBITDA margin. Originations expanded 10% to $102.4M and policies held reached 522. Annualized ROIC and ROE were 21% and 22%. Post-quarter, Abacus completed the accretive acquisition of AccuQuote and sold $50M of securitized life-insurance assets as an above-investment-grade collateralized note. Cash was $86.4M and balance-sheet policy assets were $424.7M. Full-year 2025 adjusted net income guidance raised to $80M–$84M (implying +72% to +81% Y/Y).
Abacus Global Management (NASDAQ: ABL) ha riportato i risultati del terzo trimestre 2025 mostrando slancio continuo: ricavi 63,0 M$, +124% anno su anno, utile netto GAAP attribuibile agli azionisti di $7,1M (rispetto a perdita nell'anno precedente), e utile netto rettificato 23,6M$, +60% anno su anno. L'EBITDA rettificato è aumentato del 127% a 37,9M$ con un margine EBITDA rettificato del 60,2%. Le origini di prestiti sono cresciute del 10% a $102,4M e le polizze detenute hanno raggiunto 522. Il ROIC annualizzato e il ROE sono stati 21% e 22%. Dopo il trimestre, Abacus ha completato l'acquisizione accretiva di AccuQuote e ha venduto $50M di attività assicurative vita securitizzate come una nota garantita di livello superiore all'investimento. La liquidità era di $86,4M e le attività di polizza nel bilancio erano $424,7M. Le previsioni per l'intero 2025 sull'utile netto rettificato sono state aumentate a $80M–$84M (implicando +72% a +81% anno su anno).
Abacus Global Management (NASDAQ: ABL) informó resultados del tercer trimestre de 2025 con impulso continuo: ingresos de 63,0 M$, +124% interanual, utilidad neta GAAP atribuible a los accionistas de $7,1M (frente a pérdida en el año anterior), y utilidad neta ajustada de 23,6 M$, +60% interanual. El EBITDA ajustado creció un 127% hasta 37,9 M$ con un margen EBITDA ajustado de 60,2%. Las originaciones se expandieron un 10% hasta $102,4M y las pólizas en cartera alcanzaron 522. El ROIC y ROE annualizados fueron 21% y 22%. Después del trimestre, Abacus completó la adquisición accretiva de AccuQuote y vendió $50M de activos de seguros de vida titulizados como una nota garantizada de grado superior al de inversión. La liquidez era de $86,4M y los activos de pólizas en el balance eran $424,7M. Las guías para todo 2025 de utilidad neta ajustada se incrementaron a $80M–$84M (implicando +72% a +81% interanual).
애큐버스 글로벌 매니지먼트(나스닥: ABL)은 2025년 3분기 실적을 발표하며 모멘텀 지속: 매출 6,300만 달러, 전년동기 대비 +124%, GAAP 기준 주주귀속 순이익은 $7.1M (전년 손실 대비), 그리고 조정 순이익 23.6M$, 전년동기 대비 +60%. 조정 EBITDA는 127% 상승하여 37.9M$의 마진 60.2%를 기록. 신규 인수(Originations)가 10% 증가하여 $102.4M에 도달하고 보유 정책 수는 522. 연환산 ROIC 및 ROE는 21% 및 22%였다. 분기 이후 Abacus는 AccuQuote의 인수를 완료했고 $50M의 생명보험 자산을 투자등급 초과의 담보노트로 매각. 현금은 $86.4M였고 대차대조표의 정책자산은 $424.7M였다. 2025년 전체 연간 조정 순이익 가이던스는 $80M–$84M로 상향되었으며 이는 전년 대비 +72%에서 +81%를 시사한다.
Abacus Global Management (NASDAQ: ABL) a publié les résultats du troisième trimestre 2025 montrant une dynamique continue : revenus 63,0 M$, +124% sur un an, bénéfice net GAAP attribuable aux actionnaires de 7,1 M$ (contre une perte l'année précédente), et bénéfice net ajusté de 23,6 M$, +60% sur un an. L'EBITDA ajusté a augmenté de 127% pour atteindre 37,9 M$ avec une marge EBITDA ajustée de 60,2%. Les originations ont augmenté de 10% pour atteindre 102,4 M$ et les polices détenues ont atteint 522. Le ROIC et le ROE annualisés étaient respectivement 21% et 22%. Après le trimestre, Abacus a finalisé l'acquisition accretive d'AccuQuote et a vendu 50 M$ d'actifs d'assurance vie titrisés comme une note collatéralisée de grade supérieur à l'investissement. La trésorerie était de 86,4 M$ et les actifs de police dans le bilan étaient de 424,7 M$. Les prévisions pour l'ensemble de 2025 de l'utile net ajusté ont été relevées à 80–84 M$ (implication de +72% à +81% YoY).
Abacus Global Management (NASDAQ: ABL) berichtete die Ergebnisse des dritten Quartals 2025 mit anhaltendem Momentum: Umsatz 63,0 Mio. USD, +124% gegenüber Vorjahr, GAAP-Nettoergebnis, das den Aktionären zurechenbar ist, von 7,1 Mio. USD (im Vergleich zu Verlust im Vorjahr), und bereinigtes Nettoeinkommen 23,6 Mio. USD, +60% YOY. Bereinigtes EBITDA stieg um 127% auf 37,9 Mio. USD mit einer bereinigten EBITDA-Marge von 60,2%. Originations wuchsen um 10% auf 102,4 Mio. USD und gehaltene Policen erreichten 522. Annualisierte ROIC und ROE betrugen 21% bzw. 22%. Nach dem Quartal schloss Abacus die akzretive Akquisition von AccuQuote ab und verkaufte 50 Mio. USD an securitized Life-Insurance-Assets als eine Collateralized Note mit Investment-Grade-Status. Cash war 86,4 Mio. USD und Bilanz-Policy-Assets 424,7 Mio. USD. Die Guidance für das Gesamtjahr 2025 für das bereinigte Nettoeinkommen wurde auf 80–84 Mio. USD angehoben (entspricht +72% bis +81% YoY).
Abacus Global Management (ناسداك: ABL) أبلغت عن نتائج الربع الثالث لعام 2025 مع زخم مستمر: الإيرادات 63.0 مليون دولار، +124% على أساس سنوي، وصافي الدخل وفق معيار GAAP القابل للمساهمين بقيمة $7.1 مليون (مقابل خسارة في العام السابق)، وصافي الدخل المعدل 23.6 مليون دولار، +60% على أساس سنوي. ارتفع EBITDA المعدل بنسبة 127% ليصل إلى 37.9 مليون دولار مع هامش EBITDA المعدل البالغ 60.2%. توسعت الاستصدارات بنحو 10% لتصل إلى $102.4M وتصلح السياسات المحتفظ بها إلى 522. كان العائد على الاستثمار والتدفقات التشغيلية المولدة للاعتماد على رأس المال سنويًا 21% و22% على التوالي. بعد الربع، أكملت Abacus الاستحواذ المُضَمِّن لـ AccuQuote ووقعت بيع $50M من أصول التأمين على الحياة المُصدّرة كسند مضمون ذو تصنيف يفوق الاستثمار. بلغت السيولة $86.4M وكانت أصول سياسات الميزانية $424.7M. وخُصّصت التوجيهات للسنة الكاملة 2025 بالنسبة لصافي الدخل المعدل بالارتفاع إلى $80M–$84M (مما يعني نمواً يتراوح بين +72% و+81% على أساس سنوي).
- Revenue +124% Y/Y to $63.0M
- Adjusted EBITDA +127% to $37.9M
- Adjusted net income +60% to $23.6M
- Completed $50M rated securitized note to institutional investors
- Acquisition of AccuQuote adds digital origination funnel
- Increased operating costs and interest expense partially offset GAAP net income gains
Insights
Abacus reports robust top-line and non-GAAP earnings growth, raises guidance, completes acquisition and a $50M securitization.
The company reported total revenue of
Execution drivers are clear and measurable: expanding policy counts (522 versus 278), increased origination deployment to
~ Company Delivers 10th Consecutive Quarter of Strong Earnings Growth ~
~ Record Revenue Growth of
~ GAAP Net Income of
~ Adjusted Net Income Up
~ Adjusted EBITDA Grew
~ Increases 2025 Outlook Above Prior Range; Now Expecting Year-over-Year Adjusted Net Income Growth Between
~ Post Quarter End, Company Completes Two Major Milestones with Strategic Acquisition of AccuQuote &
ORLANDO, Fla., Nov. 06, 2025 (GLOBE NEWSWIRE) -- Abacus Global Management, Inc. (“Abacus” or the “Company”) (NASDAQ: ABL), a leader in the alternative asset management space, today reported results for the third quarter ended September 30, 2025.
“The third quarter represents our tenth consecutive quarter of earnings growth, driven by disciplined execution and robust demand for our longevity-based assets, uncorrelated to traditional markets at a time when investors are increasingly focused on diversification,” said Jay Jackson, Chief Executive Officer of Abacus. “We are once again increasing our full-year 2025 expectations for adjusted earnings, now projecting year-over-year growth of 72 to
Third Quarter 2025 Highlights
- Total revenue for the third quarter grew
124% to$63.0 million , compared to$28.1 million in the prior-year period. The increase was driven by continued growth in Abacus’ Life Solutions and Longevity Funds segments and expanded asset management fees from recent acquisitions. - Origination capital deployment continued to expand, increasing by
10% for the quarter to$102.4 million , compared to$93.2 million in the prior-year period; number of policies held at quarter end totaled 522, compared to 278 as of September 30, 2024. - GAAP net income attributable to shareholders was
$7.1 million , compared to a net loss of$5.1 million in the prior-year period. The increase was primarily driven primarily driven by higher revenues, partially offset by increased operating costs and interest expense. - Adjusted net income (a non-GAAP financial measure) increased
60% year-over-year to$23.6 million compared to$14.7 million in the prior year period. Adjusted diluted earnings per share for the third quarter of 2025 was$0.24 , compared to$0.20 in the prior-year period.
- Adjusted EBITDA (a non-GAAP financial measure) for the third quarter of 2025 increased
127% to$37.9 million , compared to$16.7 million in the prior-year period. Adjusted EBITDA margin (a non-GAAP financial measure) for the third quarter of 2025 was60.2% , in line with the prior-year period. - Annualized return on invested capital (ROIC) (a non-GAAP financial measure) for the third quarter of 2025 was
21% . - Annualized Return on equity (ROE) (a non-GAAP financial measure) for the third quarter of 2025 was
22% . - Annualized Turnover Ratio (a non-GAAP financial measure) for the third quarter of 2025 was 2.0x, in-line with the previously announced long-term target of 1.5x to 2.0x. This compares to the 2.3x Turnover Ratio, a KPI introduced in the second quarter of 2025.
- Average Realized Gain (a non-GAAP financial measure) for the third quarter of 2025 was
37% . This compares to26.3% , as first reported in the second quarter of 2025. - Abacus was added to the Russell 2000® and 3000® Indexes, effective September 22, 2025, enhancing visibility and access to institutional investors.
- Subsequent to quarter end, Abacus announced the strategic acquisition of AccuQuote, a premier online life insurance brokerage company. The accretive acquisition adds a new digital origination funnel to the Abacus platform, expanding client lifecycle coverage, and supporting accelerating growth in policy origination and asset acquisition volumes.
- Most recently, Abacus announced a
$50 million securitized asset-backed rated note of life insurance assets, structured as an above-investment-grade collateralized note. This milestone transaction marks the beginning of a scalable and recurring funding mechanism.
Liquidity and Capital
As of September 30, 2025, the Company had cash and cash equivalents of
2025 Outlook
The Company is raising its full year 2025 outlook for Adjusted net income to between
For a definition of Adjusted net income, see “Non-GAAP Financial Information” below.
Webcast and Conference Call
A webcast and conference call to discuss the Company’s results will be held today, November 6, 2025, beginning at 5:00 p.m. (Eastern Time). A live webcast of the conference call will be available on Abacus’ investor relations website at ir.abacuslife.com. The dial-in number for the conference call is (844) 826-3033 (toll-free) or (412) 317-5185 (international). Please dial the number 10 minutes prior to the scheduled start time.
A webcast replay of the call will be available at ir.abacusgm.com for one year following the call.
Non-GAAP Financial Information
Adjusted Net Income, a non-GAAP financial measure, is defined as net income (loss) attributable to Abacus adjusted for non-controlling interest income, amortization, change in fair value of warrants and non-cash stock-based compensation and the related tax effect of those adjustments. Management believes that Adjusted Net Income is an appropriate measure of operating performance because it eliminates the impact of expenses that do not relate to business performance. A reconciliation of Adjusted Net Income to Net income attributable to Abacus, the most directly comparable GAAP measure, appears below.
The Company is unable to provide a comparable FY 2025 outlook for, or a reconciliation to net income because it cannot provide a meaningful or accurate calculation or estimation of certain reconciling items without unreasonable effort. Its inability to do so is due to the inherent difficulty in forecasting the timing of items that have not yet occurred and quantifying certain amounts that are necessary for such reconciliation, including variations in effective tax rate, expenses to be incurred for acquisition activities, and other one-time or exceptional items.
Adjusted EBITDA, a non-GAAP financial measure, is defined as net income (loss) attributable to Abacus adjusted for depreciation expense, amortization, interest expense, income tax and other non-cash and certain non-recurring items that in our judgement significantly impact the period-over-period assessment of performance and operating results that do not directly relate to business performance within Abacus’ control. A reconciliation of Adjusted EBITDA to Net income attributable to Abacus Life, the most directly comparable GAAP measure, appears below.
Adjusted EBITDA margin, a non-GAAP financial measure, is defined as Adjusted EBITDA divided by Total revenues. A reconciliation of Adjusted EBITDA margin to Net income margin, the most directly comparable GAAP measure, appears below.
Annualized return on invested capital (ROIC), a non-GAAP financial measure, is defined as Adjusted net income for the quarter divided by the result of Total Assets less Intangible assets, net, Goodwill and Current Liabilities multiplied by four. ROIC is not a measure of financial performance under GAAP. We believe ROIC should be considered in addition to, not as a substitute for, operating income or loss, net income or loss, cash flows provided by or used in operating, investing and financing activities or other income statement or cash flow statement line items reported in accordance with GAAP.
Annualized return on equity (ROE), a non-GAAP financial measure, is defined as Adjusted net income divided by total shareholder equity multiplied by four. ROE is not a measure of financial performance under GAAP. We believe ROE should be considered in addition to, not as a substitute for, operating income or loss, net income or loss, cash flows provided by or used in operating, investing and financing activities or other income statement or cash flow statement line items reported in accordance with GAAP. The below table presents our calculation of ROE.
Forward-Looking Statements
All statements in this press release (and oral statements made regarding the subjects of this press release) other than historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors that could cause actual results to differ materially from such statements, many of which are outside the control of Abacus. Forward-looking information includes but is not limited to statements regarding: Abacus’s financial and operational outlook; Abacus’s operational and financial strategies, including planned growth initiatives and the benefits thereof, Abacus’s ability to successfully effect those strategies, and the expected results therefrom. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “expect,” “intend,” “anticipate,” “goals,” “prospects,” “will,” “would,” “will continue,” “will likely result,” and similar expressions (including the negative versions of such words or expressions).
While Abacus believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. The factors that could cause results to differ materially from those indicated by such forward-looking statements include, but are not limited to: the fact that Abacus’s loss reserves are bases on estimates and may be inadequate to cover its actual losses; the failure to properly price Abacus’s insurance policies; the geographic concentration of Abacus’s business; the cyclical nature of Abacus’s industry; the impact of regulation on Abacus’s business; the effects of competition on Abacus’s business; the failure of Abacus’s relationships with independent agencies; the failure to meet Abacus’s investment objectives; the inability to raise capital on favorable terms or at all; the effects of acts of terrorism; and the effectiveness of Abacus’s control environment, including the identification of control deficiencies.
These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties set forth in documents filed by Abacus with the U.S. Securities and Exchange Commission from time to time, including the Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and subsequent periodic reports. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Abacus cautions you not to place undue reliance on the forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Abacus assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Abacus does not give any assurance that it will achieve its expectations.
About Abacus
Abacus Global Management (NASDAQ: ABL) is a leading financial services company specializing in alternative asset management, data-driven wealth solutions, technology innovations, and institutional services. With a focus on longevity-based assets and personalized financial planning, Abacus leverages proprietary data analytics and decades of industry expertise to deliver innovative solutions that optimize financial outcomes for individuals and institutions worldwide.
Contacts :
Investor Relations
Robert F. Phillips – SVP Investor Relations and Corporate Affairs
rob@abacusgm.com
(321) 290-1198
David Jackson – Managing Director of Investor Relations
david@abacusgm.com
(321) 299-0716
Abacus Global Management Public Relations
press@abacusgm.com
| ABACUS GLOBAL MANAGEMENT, INC. CONSOLIDATED BALANCE SHEET | |||||||
| September 30, | December 31, | ||||||
| 2025 | 2024 | ||||||
| (unaudited) | |||||||
| ASSETS | |||||||
| CURRENT ASSETS: | |||||||
| Cash and cash equivalents | $ | 86,418,953 | $ | 131,944,282 | |||
| Accounts receivable | 30,392,121 | 15,785,531 | |||||
| Accounts receivable, related party | 13,863,196 | 7,113,369 | |||||
| Income taxes receivable | 2,740,362 | 2,099,673 | |||||
| Prepaid expenses and other current assets | 4,738,492 | 2,621,791 | |||||
| Total current assets | 138,153,124 | 159,564,646 | |||||
| Property and equipment, net | 1,590,408 | 1,025,066 | |||||
| Intangible assets, net | 70,491,008 | 79,786,793 | |||||
| Goodwill | 248,959,637 | 238,296,200 | |||||
| Operating right-of-use assets | 4,716,584 | 4,722,573 | |||||
| Management and performance fee receivable, related party | 15,465,366 | 13,379,301 | |||||
| Life settlement policies, at fair value | 423,782,347 | 370,398,447 | |||||
| Life settlement policies, at cost | 905,349 | 1,083,977 | |||||
| Available-for-sale securities, at fair value; net of allowance for credit losses of | 3,194,593 | 2,205,904 | |||||
| Other investments | 9,850,000 | 1,850,000 | |||||
| Other assets | 1,829,114 | 1,851,845 | |||||
| TOTAL ASSETS | $ | 918,937,530 | $ | 874,164,752 | |||
| LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS' EQUITY | |||||||
| CURRENT LIABILITIES: | |||||||
| Current portion of long-term debt, at fair value | $ | 118,498,871 | $ | 37,430,336 | |||
| Current portion of long-term debt | 1,000,000 | 1,000,000 | |||||
| Accrued expenses | 8,691,570 | 6,139,472 | |||||
| Current operating lease liabilities | 671,281 | 515,597 | |||||
| Contract liabilities, deposits on pending settlements | 358,983 | 2,473,543 | |||||
| Accrued transaction costs | 2,523,953 | 483,206 | |||||
| Other current liabilities | 15,783,293 | 14,423,925 | |||||
| Income taxes payable | 910,545 | — | |||||
| Total current liabilities | 148,438,496 | 62,466,079 | |||||
| Long-term debt, net | 276,072,681 | 224,742,029 | |||||
| Long-term debt, at fair value | — | 105,120,100 | |||||
| Long-term debt, related party | 13,699,103 | 12,525,635 | |||||
| Retrocession fees payable | 5,361,714 | 5,312,214 | |||||
| Noncurrent operating lease liabilities | 4,535,901 | 4,580,158 | |||||
| Deferred tax liability | 31,235,642 | 26,778,865 | |||||
| Warrant liability | — | 9,345,000 | |||||
| TOTAL LIABILITIES | 479,343,537 | 450,870,080 | |||||
| COMMITMENTS AND CONTINGENCIES (Note 12) | |||||||
| MEZZANINE EQUITY | |||||||
| Series A convertible preferred stock, | 5,000,000 | — | |||||
| TOTAL MEZZANINE EQUITY | 5,000,000 | — | |||||
| STOCKHOLDERS' EQUITY | |||||||
| Preferred stock, | — | — | |||||
| Class A common stock, | 10,443 | 10,133 | |||||
| Treasury stock - at cost; 6,726,082 and 1,048,226 shares repurchased at September 30, 2025 and December 31, 2024, respectively | (50,269,042 | ) | (12,025,137 | ) | |||
| Additional paid-in capital | 513,709,228 | 494,064,113 | |||||
| Accumulated deficit | (28,856,636 | ) | (57,896,606 | ) | |||
| Noncontrolling interest | — | (857,831 | ) | ||||
| TOTAL STOCKHOLDERS' EQUITY | 434,593,993 | 423,294,672 | |||||
| TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS' EQUITY | $ | 913,937,530 | $ | 874,164,752 | |||
| ABACUS GLOBAL MANAGEMENT, INC. UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) | |||||||||||||||
| Three Months Ended | Nine Months Ended September 30, | ||||||||||||||
| September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| REVENUES: | |||||||||||||||
| Asset management | $ | 1,058,250 | $ | 59,847 | $ | 3,173,732 | $ | 176,815 | |||||||
| Asset management, related party | 7,575,553 | 56,539 | 21,995,024 | 362,394 | |||||||||||
| Life solutions | 45,536,880 | 28,032,105 | 112,059,764 | 78,172,568 | |||||||||||
| Life solutions, related party | 8,585,697 | - | 25,662,314 | - | |||||||||||
| Technology services | 218,776 | - | 448,288 | - | |||||||||||
| TOTAL REVENUES | 62,975,156 | 28,148,491 | 163,339,122 | 78,711,777 | |||||||||||
| COST OF REVENUES (excluding depreciation and amortization stated below): | |||||||||||||||
| Cost of revenue (including stock-based compensation) | 7,655,698 | 2,187,981 | 20,818,749 | 7,652,412 | |||||||||||
| GROSS PROFIT | 55,319,458 | 25,960,510 | 142,520,373 | 71,059,365 | |||||||||||
| OPERATING EXPENSES: | |||||||||||||||
| Sales and marketing | 3,799,884 | 2,169,197 | 9,683,599 | 6,651,942 | |||||||||||
| General and administrative (including stock-based compensation) | 24,706,314 | 15,489,503 | 55,896,429 | 41,396,346 | |||||||||||
| (Gain) loss on change in fair value of debt | - | 124,237 | (3,362,103 | ) | 4,036,327 | ||||||||||
| Unrealized loss (gain) on equity securities, at fair value | - | (417,677 | ) | - | (1,220,161 | ) | |||||||||
| Realized gain on equity securities, at fair value | - | - | - | (856,744 | ) | ||||||||||
| Depreciation and amortization expense | 4,400,082 | 1,745,279 | 14,342,711 | 5,177,785 | |||||||||||
| TOTAL OPERATING EXPENSES | 32,906,280 | 19,110,539 | 76,560,636 | 55,185,495 | |||||||||||
| OPERATING INCOME | 22,413,178 | 6,849,971 | 65,959,737 | 15,873,870 | |||||||||||
| OTHER INCOME (EXPENSE): | |||||||||||||||
| Gain (loss) on change in fair value of warrant liability | (1,081,193 | ) | (8,766,500 | ) | (1,704,193 | ) | (8,487,040 | ) | |||||||
| Interest expense | (9,738,472 | ) | (4,218,314 | ) | (28,108,947 | ) | (12,417,946 | ) | |||||||
| Interest income | 803,648 | 609,496 | 2,990,927 | 1,670,828 | |||||||||||
| Other (expense) income | (629,126 | ) | (9,832 | ) | 2,044,522 | 132,610 | |||||||||
| TOTAL OTHER INCOME (EXPENSE) | (10,645,144 | ) | (12,385,150 | ) | (24,777,692 | ) | (19,101,548 | ) | |||||||
| NET INCOME (LOSS) BEFORE PROVISION FOR INCOME TAXES | 11,768,034 | (5,535,179 | ) | 41,182,045 | (3,227,678 | ) | |||||||||
| Income tax expense (benefit) | 4,692,686 | (250,368 | ) | 11,096,742 | 2,680,855 | ||||||||||
| NET INCOME (LOSS) | 7,075,348 | (5,284,811 | ) | 30,085,303 | (5,908,533 | ) | |||||||||
| LESS: NET (LOSS) INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST | - | (159,756 | ) | 786,683 | (204,716 | ) | |||||||||
| NET INCOME (LOSS) ATTRIBUTABLE TO ABACUS GLOBAL MANAGEMENT, INC. | $ | 7,075,348 | $ | (5,125,055 | ) | $ | 29,298,620 | $ | (5,703,817 | ) | |||||
| EARNINGS (LOSS) PER SHARE: | |||||||||||||||
| Earnings (loss) per share - basic | $ | 0.07 | $ | (0.07 | ) | $ | 0.30 | $ | (0.09 | ) | |||||
| Earnings (loss) per share - diluted | $ | 0.07 | $ | (0.07 | ) | $ | 0.30 | $ | (0.09 | ) | |||||
| Weighted-average stock outstanding—basic | 95,956,504 | 74,694,319 | 95,612,432 | 66,984,401 | |||||||||||
| Weighted-average stock outstanding—diluted | 96,651,911 | 74,694,319 | 96,962,810 | 66,984,401 | |||||||||||
| NET INCOME (LOSS) | $ | 7,075,348 | $ | (5,284,811 | ) | $ | 30,085,303 | $ | (5,908,533 | ) | |||||
| Other comprehensive income (loss), net of tax or tax benefit: | |||||||||||||||
| Change in fair value of debt (risk adjusted) | - | (53,656 | ) | - | (111,835 | ) | |||||||||
| Reclassification of change in fair value of debt (risk adjusted) upon related debt payoff | - | 11,079 | - | 11,079 | |||||||||||
| COMPREHENSIVE INCOME (LOSS) BEFORE NON-CONTROLLING INTERESTS | 7,075,348 | (5,327,388 | ) | 30,085,303 | (6,009,289 | ) | |||||||||
| Net and comprehensive (loss) income attributable to non-controlling interests | — | (170,730 | ) | 786,683 | (229,820 | ) | |||||||||
| COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO ABACUS GLOBAL MANAGEMENT, INC. | $ | 7,075,348 | $ | (5,156,658 | ) | $ | 29,298,620 | $ | (5,779,469 | ) | |||||
| ABACUS GLOBAL MANAGEMENT, INC. ADJUSTED NET INCOME | |||||||||||||||||
| Three Months Ended September 30, | Three Months Ended September 30, | ||||||||||||||||
| 2025 | 2024 | ||||||||||||||||
| Gross | Estimated Tax[2] | Net | Gross | Estimated Tax[2] | Net | ||||||||||||
| Net income (loss) attributable to Abacus Global Management, Inc. | $ | 7,075,348 | $ | - | $ | 7,075,348 | $ | (5,125,055 | ) | $ | - | $ | (5,125,055 | ) | |||
| Net income (loss) attributable to noncontrolling interests | - | - | - | (159,756 | ) | - | (159,756 | ) | |||||||||
| Amortization expense | 4,044,099 | (1,024,977 | ) | 3,019,122 | 1,698,983 | (430,607 | ) | 1,268,376 | |||||||||
| Stock-based compensation | 4,527,358 | (1,147,459 | ) | 3,379,899 | 6,416,378 | (1,626,231 | ) | 4,790,147 | |||||||||
| Allowance for credit losses | 622,788 | (157,846 | ) | 464,942 | - | - | - | ||||||||||
| Business acquisition and special legal costs | 5,941,429 | (1,505,855 | ) | 4,435,574 | 1,948,118 | (493,751 | ) | 1,454,367 | |||||||||
| Loss on change in fair value of warrant liability | 1,081,193 | (274,028 | ) | 807,165 | 8,766,500 | (2,221,869 | ) | 6,544,631 | |||||||||
| Tax impact[1] | 315,928 | - | 315,928 | 1,174,328 | - | 1,174,328 | |||||||||||
| Adjusted Net Income | $ | 23,608,143 | $ | (4,110,165 | ) | $ | 19,497,978 | $ | 14,719,496 | $ | (4,772,458 | ) | $ | 9,947,038 | |||
| Weighted-Average Stock Outstanding - Basic | 95,956,504 | 95,956,504 | 95,956,504 | 74,691,319 | 74,691,319 | 74,691,319 | |||||||||||
| Weighted-Average Stock Outstanding - Diluted | 96,651,911 | 96,651,911 | 96,651,911 | 74,694,319 | 74,694,319 | 74,694,319 | |||||||||||
| Adjusted EPS - Basic | $ | 0.25 | $ | (0.04 | ) | $ | 0.20 | $ | 0.20 | $ | (0.06 | ) | $ | 0.13 | |||
| Adjusted EPS - Diluted | $ | 0.24 | $ | (0.04 | ) | $ | 0.20 | $ | 0.20 | $ | (0.06 | ) | $ | 0.13 | |||
| [1] Tax impact represents the permanent difference in tax expense related to the restricted stock awards granted to certain executives due to IRC 162(m) limitations. | |||||||||||||||||
| [2] The estimated tax is based on the net federal and state statutory rate. | |||||||||||||||||
| Note: EPS totals may not add up due to rounding. | |||||||||||||||||
| Nine Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
| 2025 | 2024 | ||||||||||||||||
| Gross | Estimated Tax[2] | Net | Gross | Estimated Tax[2] | Net | ||||||||||||
| Net income (loss) attributable to Abacus Global Management, Inc. | $ | 29,298,620 | $ | - | $ | 29,298,620 | $ | (5,703,817 | ) | $ | - | $ | (5,703,817 | ) | |||
| Net income (loss) attributable to noncontrolling interests | 786,683 | - | 786,683 | (204,716 | ) | - | (204,716 | ) | |||||||||
| Amortization expense | 13,345,240 | (3,382,351 | ) | 9,962,889 | 5,072,125 | (1,285,530 | ) | 3,786,595 | |||||||||
| Stock-based compensation | 10,369,582 | (2,628,171 | ) | 7,741,411 | 18,675,208 | (4,733,231 | ) | 13,941,977 | |||||||||
| Allowance for credit losses | 622,788 | (157,846 | ) | 464,942 | - | - | - | ||||||||||
| Business acquisition and special legal costs | 6,016,211 | (1,524,809 | ) | 4,491,402 | 3,273,118 | (829,572 | ) | 2,443,546 | |||||||||
| Loss on change in fair value of warrant liability | 1,704,193 | (431,928 | ) | 1,272,265 | 8,487,040 | (2,151,040 | ) | 6,336,000 | |||||||||
| Tax impact[1] | 549,065 | - | 549,065 | 3,518,782 | - | 3,518,782 | |||||||||||
| Adjusted Net Income | $ | 62,692,382 | $ | (8,125,105 | ) | $ | 54,567,277 | $ | 33,117,740 | $ | (8,999,373 | ) | $ | 24,118,367 | |||
| Weighted-Average Stock Outstanding - Basic | 95,612,432 | 95,612,432 | 95,612,432 | 66,984,401 | 66,984,401 | 66,984,401 | |||||||||||
| Weighted-Average Stock Outstanding - Diluted | 96,962,810 | 96,962,810 | 96,962,810 | 66,984,401 | 66,984,401 | 66,984,401 | |||||||||||
| Adjusted EPS - Basic | $ | 0.65 | $ | (0.08 | ) | $ | 0.57 | $ | 0.49 | $ | (0.13 | ) | $ | 0.36 | |||
| Adjusted EPS - Diluted | $ | 0.64 | $ | (0.08 | ) | $ | 0.56 | $ | 0.49 | $ | (0.13 | ) | $ | 0.36 | |||
| [1] Tax impact represents the permanent difference in tax expense related to the restricted stock awards granted to certain executives due to IRC 162(m) limitations. | |||||||||||||||||
| [2] The estimated tax is based on the net federal and state statutory rate. | |||||||||||||||||
| Note: EPS totals may not add up due to rounding. | |||||||||||||||||
| ABACUS GLOBAL MANAGEMENT, INC. ADJUSTED EBITDA | |||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||
| Net Income (Loss) | $ | 7,075,348 | $ | (5,284,811 | ) | $ | 30,085,303 | $ | (5,908,533 | ) | |||
| Depreciation and amortization expense | 4,400,082 | 1,745,279 | 14,342,711 | 5,177,785 | |||||||||
| Income tax expense (benefit) | 4,692,686 | (250,368 | ) | 11,096,742 | 2,680,855 | ||||||||
| Interest expense | 9,738,472 | 4,218,314 | 28,108,947 | 12,417,946 | |||||||||
| Other expense (income) | 629,127 | 9,832 | (2,044,521 | ) | (132,610 | ) | |||||||
| Interest income | (803,648 | ) | (609,496 | ) | (2,990,927 | ) | (1,670,828 | ) | |||||
| Loss on change in fair value of warrant liability | 1,081,193 | 8,766,500 | 1,704,193 | 8,487,040 | |||||||||
| Stock-based compensation | 4,527,358 | 6,416,378 | 10,369,582 | 18,675,208 | |||||||||
| Allowance for credit losses | 622,788 | — | 622,788 | — | |||||||||
| Business acquisition and special legal costs | 5,941,429 | 1,948,118 | 6,016,211 | 3,273,118 | |||||||||
| Realized and Unrealized gain on investments | — | (417,677 | ) | — | (2,076,905 | ) | |||||||
| Loss (gain) on change in fair value of debt | — | 124,237 | (3,362,103 | ) | 4,036,327 | ||||||||
| Adjusted EBITDA | $ | 37,904,835 | $ | 16,666,306 | $ | 93,948,926 | $ | 44,959,403 | |||||
| Total Revenue | $ | 62,975,156 | $ | 28,148,491 | $ | 163,339,122 | $ | 78,711,777 | |||||
| Adjusted EBITDA Margin % | 60.2 | % | 59.2 | % | 57.5 | % | 57.1 | % | |||||
| Net Income Margin % | 11.2 | % | (18.8 | %) | 18.4 | % | (7.5 | %) | |||||
| ABACUS GLOBAL MANAGEMENT, INC. ADJUSTED RETURN ON INVESTED CAPITAL (ROIC) | |||||
| For the Period Ended | For the Period Ended | ||||
| September 30, 2025 | September 30, 2024 | ||||
| Total Assets | 918,937,530 | 477,309,168 | |||
| Less: | |||||
| Intangible assets, net | (70,491,008 | ) | (24,653,141 | ) | |
| Goodwill | (248,959,637 | ) | (139,930,190 | ) | |
| Current Liabilities | (148,438,496 | ) | (23,862,348 | ) | |
| Total Invested Capital | 451,048,389 | 288,863,489 | |||
| Adjusted Net income | 23,608,143 | 14,719,496 | |||
| Adjusted Annualized ROIC | 21 | % | 20 | % | |
| ABACUS GLOBAL MANAGEMENT, INC. ADJUSTED RETURN ON EQUITY (ROE) | |||||
| For the Period Ended | For the Period Ended | ||||
| September 30, 2025 | September 30, 2024 | ||||
| Total Shareholder Equity | 434,593,993 | 257,939,628 | |||
| Adjusted Net income | 23,608,143 | 14,719,496 | |||
| Adjusted Annualized ROE | 22 | % | 23 | % | |
FAQ
What were Abacus (ABL) third quarter 2025 revenue and adjusted net income?
How did Abacus (ABL) update full-year 2025 guidance on November 6, 2025?
What material transactions did Abacus (ABL) complete after Q3 2025?
What were Abacus (ABL) key leverage and asset figures as of September 30, 2025?
How many policies did Abacus (ABL) hold at quarter end and how did origination change?
What profitability metrics did Abacus (ABL) report for Q3 2025?
