Abacus Global Management Reports Fourth Quarter and Full Year 2024 Results
Abacus Global Management (NASDAQ: ABL) reported strong Q4 and full-year 2024 results, with notable growth across key metrics. Q4 total revenue increased 40% year-over-year to $33.2 million, while full-year revenue grew 69% to $111.9 million.
Q4 highlights include a 41% increase in origination capital deployment to $96.6 million and 214 policy originations. However, the company recorded a GAAP net loss of $18.3 million in Q4, primarily due to non-cash expenses related to stock compensation and acquisition costs.
Full-year 2024 saw policy originations grow 63% to 1,034, while adjusted EBITDA increased 57% to $61.6 million with a 55.0% margin. The company maintains a strong liquidity position with $128.8 million in cash and cash equivalents.
Looking ahead, Abacus projects 2025 adjusted net income between $70-78 million, representing 51-68% growth compared to 2024's $46.5 million.
Abacus Global Management (NASDAQ: ABL) ha riportato risultati solidi per il quarto trimestre e per l'intero anno 2024, con una crescita notevole in tutti i principali indicatori. I ricavi totali del Q4 sono aumentati del 40% rispetto all'anno precedente, raggiungendo 33,2 milioni di dollari, mentre i ricavi dell'intero anno sono cresciuti del 69%, arrivando a 111,9 milioni di dollari.
I punti salienti del Q4 includono un aumento del 41% nel capitale di origine investito, pari a 96,6 milioni di dollari, e 214 origini di polizze. Tuttavia, l'azienda ha registrato una perdita netta GAAP di 18,3 milioni di dollari nel Q4, principalmente a causa di spese non monetarie legate alla compensazione azionaria e ai costi di acquisizione.
Nell'anno intero 2024, le origini delle polizze sono aumentate del 63%, raggiungendo 1.034, mentre l'EBITDA rettificato è aumentato del 57%, arrivando a 61,6 milioni di dollari con un margine del 55,0%. L'azienda mantiene una solida posizione di liquidità con 128,8 milioni di dollari in contante e equivalenti.
Guardando al futuro, Abacus prevede un reddito netto rettificato per il 2025 compreso tra 70 e 78 milioni di dollari, rappresentando una crescita del 51-68% rispetto ai 46,5 milioni di dollari del 2024.
Abacus Global Management (NASDAQ: ABL) reportó resultados sólidos para el cuarto trimestre y el año completo 2024, con un crecimiento notable en todos los indicadores clave. Los ingresos totales del Q4 aumentaron un 40% interanual, alcanzando 33.2 millones de dólares, mientras que los ingresos del año completo crecieron un 69%, sumando 111.9 millones de dólares.
Los aspectos destacados del Q4 incluyen un aumento del 41% en el despliegue de capital de origen a 96.6 millones de dólares y 214 orígenes de pólizas. Sin embargo, la empresa registró una pérdida neta GAAP de 18.3 millones de dólares en el Q4, principalmente debido a gastos no monetarios relacionados con la compensación de acciones y costos de adquisición.
Durante el año completo 2024, los orígenes de pólizas crecieron un 63% hasta 1,034, mientras que el EBITDA ajustado aumentó un 57% hasta 61.6 millones de dólares con un margen del 55.0%. La empresa mantiene una sólida posición de liquidez con 128.8 millones de dólares en efectivo y equivalentes.
De cara al futuro, Abacus proyecta ingresos netos ajustados para 2025 entre 70 y 78 millones de dólares, lo que representa un crecimiento del 51-68% en comparación con los 46.5 millones de dólares de 2024.
아바쿠스 글로벌 매니지먼트 (NASDAQ: ABL)는 2024년 4분기 및 연간 실적을 발표하며 주요 지표에서 두드러진 성장을 기록했습니다. 4분기 총 수익은 전년 대비 40% 증가하여 3,320만 달러에 달했으며, 연간 수익은 69% 증가하여 1억 1,190만 달러에 달했습니다.
4분기 하이라이트로는 자본 배치가 41% 증가하여 9,660만 달러에 도달하고, 214개의 정책이 출범했습니다. 그러나 회사는 주식 보상 및 인수 비용과 관련된 비현금 비용으로 인해 4분기에 GAAP 기준으로 1,830만 달러의 순손실을 기록했습니다.
2024년 전체에서 정책 출범은 63% 증가하여 1,034건에 달했으며, 조정된 EBITDA는 57% 증가하여 6,160만 달러에 달하고, 55.0%의 마진을 기록했습니다. 회사는 1억 2,880만 달러의 현금 및 현금성 자산으로 강력한 유동성 위치를 유지하고 있습니다.
앞으로 아바쿠스는 2025년 조정된 순이익이 7천만에서 7천8백만 달러 사이에 이를 것으로 예상하며, 이는 2024년 4,650만 달러에 비해 51-68%의 성장을 나타냅니다.
Abacus Global Management (NASDAQ: ABL) a annoncé des résultats solides pour le quatrième trimestre et l'année entière 2024, avec une croissance notable dans tous les indicateurs clés. Les revenus totaux du Q4 ont augmenté de 40 % par rapport à l'année précédente, atteignant 33,2 millions de dollars, tandis que les revenus de l'année entière ont crû de 69 % pour atteindre 111,9 millions de dollars.
Les points forts du Q4 incluent une augmentation de 41 % du déploiement de capital d'origine à 96,6 millions de dollars et 214 origines de polices. Cependant, l'entreprise a enregistré une perte nette GAAP de 18,3 millions de dollars au Q4, principalement en raison de dépenses non monétaires liées à la compensation en actions et aux coûts d'acquisition.
Pour l'année entière 2024, les origines de polices ont augmenté de 63 % pour atteindre 1 034, tandis que l'EBITDA ajusté a augmenté de 57 % pour atteindre 61,6 millions de dollars avec une marge de 55,0 %. L'entreprise maintient une solide position de liquidité avec 128,8 millions de dollars en espèces et équivalents.
En regardant vers l'avenir, Abacus prévoit un revenu net ajusté pour 2025 compris entre 70 et 78 millions de dollars, représentant une croissance de 51 à 68 % par rapport aux 46,5 millions de dollars de 2024.
Abacus Global Management (NASDAQ: ABL) hat starke Ergebnisse für das vierte Quartal und das gesamte Jahr 2024 gemeldet, mit bemerkenswertem Wachstum in allen wichtigen Kennzahlen. Die Gesamteinnahmen im Q4 stiegen im Jahresvergleich um 40% auf 33,2 Millionen Dollar, während die Gesamteinnahmen im Jahr um 69% auf 111,9 Millionen Dollar wuchsen.
Die Highlights des Q4 umfassen einen Anstieg des originären Kapitaleinsatzes um 41% auf 96,6 Millionen Dollar und 214 Policenursprünge. Das Unternehmen verzeichnete jedoch im Q4 einen GAAP-Nettoverlust von 18,3 Millionen Dollar, hauptsächlich aufgrund von nicht liquiditätswirksamen Aufwendungen im Zusammenhang mit Aktienvergütung und Akquisitionskosten.
Im gesamten Jahr 2024 stiegen die Policenursprünge um 63% auf 1.034, während das bereinigte EBITDA um 57% auf 61,6 Millionen Dollar mit einer Marge von 55,0% anstieg. Das Unternehmen hält eine starke Liquiditätsposition mit 128,8 Millionen Dollar in Bar und liquiden Mitteln.
Für die Zukunft prognostiziert Abacus eine bereinigte Nettogewinnspanne zwischen 70 und 78 Millionen Dollar für 2025, was einem Wachstum von 51-68% im Vergleich zu 46,5 Millionen Dollar im Jahr 2024 entspricht.
- Record full-year revenue growth of 69% to $111.9 million
- Q4 revenue increased 40% year-over-year to $33.2 million
- Policy originations grew 63% to 1,034 in 2024
- Q4 Adjusted EBITDA grew 51% to $16.6 million with improved margin
- Strong 2025 guidance projecting 51-68% adjusted net income growth
- Successful completion of two strategic acquisitions expanding market reach
- Q4 GAAP net loss of $18.3 million, widening from $6.2 million loss year-over-year
- Full-year GAAP net loss of $24.0 million compared to $9.5 million profit in 2023
- Adjusted EBITDA margin declined to 55.0% from 59.2% in prior year
- High debt level of $342.4 million as of December 31, 2024
Insights
Abacus Global Management has delivered impressive growth metrics in their Q4 and FY 2024 results. The company reported
The company's operational scaling is evident through
The GAAP losses (
Particularly noteworthy is Abacus's ambitious 2025 outlook, projecting adjusted net income between
- Delivered Record Full Year Revenue and Growth While Executing on Strategic Acquisitions and Initiatives -
- Fourth Quarter 2024 Total Revenue Grows
- Full-Year Policy Originations Grow
- Initiating Full Year 2025 Outlook for Adjusted Net Income Between
ORLANDO, Fla., March 27, 2025 (GLOBE NEWSWIRE) -- Abacus Global Management (“Abacus” or the “Company”) (NASDAQ: ABL), a leader in the alternative asset management space, today reported results for the fourth quarter ended December 31, 2024.
“We concluded 2024 with another solid quarter of profitable growth and significant milestones, capping off a record year for Abacus. In addition to our strong financial results, we undertook meaningful strategic initiatives that have significantly expanded our business. Over the past 12 months, we strengthened our executive team through key hires, successfully raised substantial equity capital to fuel our growth initiatives, secured significant debt financing to optimize our capital structure, completed two strategic acquisitions that expanded our capabilities and market reach, and dramatically grew both the scope and scale of our operations across multiple business lines and geographies.”
“Subsequent to year-end, in early March, we successfully rebranded to Abacus Global Management, which better reflects our evolution and global market presence. As we look ahead, we’re off to a strong start in 2025 - expecting to once again grow our adjusted net income for the full year by over
Fourth Quarter 2024 Highlights
- Total revenue for the fourth quarter of 2024 grew
40% to$33.2 million , compared to$23.6 million in the prior-year period. The increase was primarily driven by higher active management revenue, increased capital deployed and more policies sold directly to third parties. - Origination capital deployment for the fourth quarter of 2024 increased
41% to$96.6 million , compared to$68.3 million in the prior-year period; number of policy originations for the fourth quarter of 2024 was 214. - GAAP net loss attributable to shareholders for the fourth quarter of 2024 was
$18.3 million , compared to net loss of$6.2 million in the prior-year period, primarily driven by an$18.6 million increase in non-cash expenses related to employee stock compensation, as well as non-recurring acquisition-related costs and higher interest expense. - Adjusted net income (a non-GAAP financial measure) for the fourth quarter of 2024 more than doubled to
$13.4 million , compared to$5.9 million in the prior-year period. - Adjusted EBITDA (a non-GAAP financial measure) for the fourth quarter of 2024 grew
51% to$16.6 million , compared to$11.1 million in the prior-year period. Adjusted EBITDA margin (a non-GAAP financial measure) for the fourth quarter of 2024 was50.0% , compared to46.7% in the prior-year period. - Annualized return on invested capital (ROIC) (a non-GAAP financial measure) for the fourth quarter of 2024 was
11% . - Annualized Return on equity (ROE) (a non-GAAP financial measure) for the fourth quarter of 2024 was
13% .
Full Year 2024 Results
- Full year 2024 total revenues grew
69% to$111.9 million , compared to$66.4 million in the prior year, primarily driven by higher active management revenue, increased capital deployed and more policies sold directly to third parties. - Originations capital deployment for the full year 2024 was
$327.8 million , an increase of50% from the prior year; number of policy originations grew63% to 1,034, compared to 633 in the prior year. - GAAP net loss attributable to shareholders for the full year 2024 was
$24.0 million , compared to net GAAP income of$9.5 million in the prior year. - Adjusted net income (a non-GAAP financial measure) for the full year 2024 increased
58% to$46.5 million , compared to$29.4 million in the prior year, primarily due to increases in non-cash stock-based compensation and related tax effect, acquisition-related costs, and acquired intangible asset amortizations. - Adjusted EBITDA for the full year 2024 grew
57% to$61.6 million , compared to$39.3 million in the prior year. Adjusted EBITDA margin (a non-GAAP measure) for the full year 2024 was55.0% , compared to59.2% in the prior year. - Return on invested capital (ROIC) (a non-GAAP measure defined below) for the full year 2024 was
15% . - Return on equity (ROE) (a non-GAAP measure defined below) for the full year 2024 was
17% .
Liquidity and Capital
As of December 31, 2024, the Company had cash and cash equivalents of
2025 Outlook
The company is initiating its full year 2025 outlook for Adjusted net income to be between
The Company is unable to provide a comparable 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.
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 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.abacusgm.com. The dial-in number for the conference call is (877) 407-9716 (toll-free) or (201) 493-6779 (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.
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 Global Management, 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 Global Management
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 – IR/Capital Markets Associate
david@abacusgm.com
(321) 299-0716
Abacus Global Management Public Relations
press@abacusgm.com
| ABACUS GLOBAL MANAGEMENT, INC. CONSOLIDATED BALANCE SHEET | ||||||
| December 31, | December 31, | |||||
| 2024 | 2023 | |||||
| ASSETS | ||||||
| CURRENT ASSETS: | ||||||
| Cash and cash equivalents | $ | 131,944,282 | $ | 25,588,668 | ||
| Equity securities, at fair value | - | 2,252,891 | ||||
| Accounts receivable | 15,785,531 | 2,149,111 | ||||
| Accounts receivable, related party | 7,113,369 | 79,509 | ||||
| Due from affiliates | 1,527,062 | 1,007,528 | ||||
| Other receivables | - | - | ||||
| Income taxes receivable | 2,099,673 | - | ||||
| Prepaid expenses and other current assets | 1,094,729 | 699,127 | ||||
| Total current assets | 159,564,646 | 31,776,834 | ||||
| Property and equipment, net | 1,025,066 | 400,720 | ||||
| Intangible assets, net | 79,786,793 | 29,623,130 | ||||
| Goodwill | 238,296,200 | 140,287,000 | ||||
| Operating right-of-use assets | 4,722,573 | 1,893,659 | ||||
| Life settlement policies, at cost | 1,083,977 | 1,697,178 | ||||
| Life settlement policies, at fair value | 370,398,447 | 122,296,559 | ||||
| Noncurrent management and performance fee receivable, related party | 13,379,301 | - | ||||
| Available-for-sale securities, at fair value | 2,205,904 | 1,105,935 | ||||
| Other investments, at cost | 1,850,000 | 1,650,000 | ||||
| Other assets | 1,851,845 | 998,945 | ||||
| Equity securities, at fair value | - | 96,107 | ||||
| TOTAL ASSETS | $ | 874,164,752 | $ | 331,826,067 | ||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||
| CURRENT LIABILITIES: | ||||||
| Current portion of long-term debt, at fair value | $ | 37,430,336 | $ | 13,029,632 | ||
| Current portion of long-term debt | 1,000,000 | - | ||||
| Accrued expenses | 6,139,472 | 4,354,225 | ||||
| Operating lease liabilities | 515,597 | 118,058 | ||||
| Due to affiliates | - | 5,236 | ||||
| Due to former members | - | 1,159,712 | ||||
| Contract liabilities, deposits on pending settlements | 2,473,543 | 507,000 | ||||
| Accrued transaction costs | 483,206 | - | ||||
| Other current liabilities | 14,423,925 | 3,400,734 | ||||
| Income taxes payable | - | 751,734 | ||||
| Total current liabilities | 62,466,079 | 23,326,331 | ||||
| Long-term debt, net | 224,742,029 | 33,818,090 | ||||
| Long-term debt, at fair value, net | 105,120,100 | 55,318,923 | ||||
| Long-term debt, related party | 12,525,635 | 37,653,869 | ||||
| Noncurrent retrocession fee payables | 5,312,214 | - | ||||
| Operating lease liabilities | 4,580,158 | 1,796,727 | ||||
| Deferred tax liability | 26,778,865 | 9,199,091 | ||||
| Warrant liability | 9,345,000 | 6,642,960 | ||||
| TOTAL LIABILITIES | 450,870,080 | 167,755,991 | ||||
| COMMITMENTS AND CONTINGENCIES | ||||||
| Preferred stock, | - | - | ||||
| Class A common stock, | 10,133 | 6,339 | ||||
| Treasury stock - at cost; 1,048,226 and 146,650 shares repurchased at December 31, 2024 and 2023, respectively | (12,025,137 | ) | (1,283,062 | ) | ||
| Additional paid-in capital | 494,064,113 | 199,826,278 | ||||
| Accumulated deficit | (57,896,606 | ) | (34,726,135 | ) | ||
| Accumulated other comprehensive income | - | 108,373 | ||||
| Non-controlling interest | (857,831 | ) | 138,283 | |||
| Total stockholders' equity | 423,294,672 | 164,070,076 | ||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 874,164,752 | $ | 331,826,067 | ||
| ABACUS GLOBAL MANAGEMENT, INC. CONSOLIDATED STATEMENT OF OPERATIONS | |||||||||||||
| Three Months Ended December 31, | Years Ended December 31, | ||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||
| REVENUES: | |||||||||||||
| Active management | $ | 29,041,030 | $ | 21,274,316 | $ | 102,819,361 | $ | 61,195,377 | |||||
| Origination fees | 1,062,910 | 2,233,683 | 5,457,147 | 4,203,900 | |||||||||
| Asset management fees | 2,841,481 | - | 2,841,481 | - | |||||||||
| Portfolio servicing fees | 232,960 | 187,548 | 772,169 | 1,002,174 | |||||||||
| Technology services | 33,628 | - | 33,628 | - | |||||||||
| Total revenues | 33,212,009 | 23,695,547 | 111,923,786 | 66,401,451 | |||||||||
| COST OF REVENUES (excluding depreciation and amortization stated below): | |||||||||||||
| Cost of revenue (including stock-based compensation) | 3,719,321 | 1,570,994 | 11,371,733 | 6,390,921 | |||||||||
| Related party cost of revenue | - | 91,476 | - | 99,456 | |||||||||
| Cost of revenue (including stock-based compensation) | 3,719,321 | 1,662,470 | 11,371,733 | 6,490,377 | |||||||||
| Gross Profit | 29,492,688 | 22,033,077 | 100,552,053 | 59,911,074 | |||||||||
| OPERATING EXPENSES: | |||||||||||||
| Sales and marketing | 2,411,442 | 1,788,748 | 9,063,384 | 4,905,747 | |||||||||
| General and administrative (including stock-based compensation) | 40,338,172 | 15,369,189 | 81,734,518 | 26,482,571 | |||||||||
| Loss on change in fair value of debt | 799,024 | 2,046,193 | 4,835,351 | 2,356,058 | |||||||||
| Unrealized loss (gain) on investments | 1,458,173 | (877,754 | ) | 238,012 | (1,369,112 | ) | |||||||
| Realized gain on investments | (1,484,322 | ) | - | (2,341,066 | ) | - | |||||||
| Depreciation and amortization expense | 2,732,373 | 1,712,934 | 7,910,158 | 3,409,928 | |||||||||
| Total operating expenses | 46,254,862 | 20,039,310 | 101,440,357 | 35,785,192 | |||||||||
| Operating (loss) income | (16,762,174 | ) | 1,993,767 | (888,304 | ) | 24,125,882 | |||||||
| OTHER INCOME (EXPENSE): | |||||||||||||
| Loss on change in fair value of warrant liability | 5,785,000 | (3,260,960 | ) | (2,702,040 | ) | (4,204,360 | ) | ||||||
| Interest (expense) | (5,861,740 | ) | (6,246,126 | ) | (18,279,686 | ) | (9,866,821 | ) | |||||
| Interest income | 727,863 | 523,481 | 2,398,691 | 594,764 | |||||||||
| Other income (expense) | (94,570 | ) | (144,879 | ) | 38,040 | (146,443 | ) | ||||||
| Total other income (expense) | 556,553 | (9,128,484 | ) | (18,544,995 | ) | (13,622,860 | ) | ||||||
| Net (loss) income before provision for income taxes | (16,205,621 | ) | (7,134,717 | ) | (19,433,299 | ) | 10,503,022 | ||||||
| Income tax expense | 2,803,883 | (769,885 | ) | 5,484,738 | 1,468,535 | ||||||||
| NET (LOSS) INCOME | (19,009,504 | ) | (6,364,832 | ) | (24,918,037 | ) | 9,034,487 | ||||||
| LESS: NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTEREST | (752,271 | ) | (142,447 | ) | (956,987 | ) | (482,139 | ) | |||||
| NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS | $ | (18,257,233 | ) | $ | (6,222,385 | ) | $ | (23,961,050 | ) | $ | 9,516,626 | ||
| (LOSS) EARNINGS PER SHARE: | |||||||||||||
| (Loss) earnings per share—basic | $ | (0.22 | ) | $ | (0.10 | ) | $ | (0.34 | ) | $ | 0.17 | ||
| (Loss) earnings per share—diluted | $ | (0.22 | ) | $ | (0.10 | ) | $ | (0.34 | ) | $ | 0.16 | ||
| Weighted-average stock outstanding—basic [1] | 81,784,013 | 63,352,743 | 70,761,830 | 56,951,414 | |||||||||
| Weighted-average stock outstanding—diluted [1] | 81,784,013 | 64,169,227 | 70,761,830 | 57,767,898 | |||||||||
| [1] The 2023 number of shares outstanding and their par value have been retrospectively recast for all prior periods presented to reflect the par value of the outstanding stock of Abacus Life, Inc. as a result of the Business Combination. | |||||||||||||
| ABACUS GLOBAL MANAGEMENT, INC. ADJUSTED NET INCOME AND ADJUSTED EPS | |||||||||||||
| Full Year | Full Year | For the three months ended | |||||||||||
| 2024 | 2023 | 12/31/2024 | 12/31/2023 | ||||||||||
| Adjusted Net Income and Adjusted EPS | |||||||||||||
| Net income attributable to Abacus Life, Inc. | $ | (23,961,050 | ) | $ | 9,516,626 | $ | (18,257,233 | ) | $ | (6,222,383 | ) | ||
| Net income attributable to non-controlling interests | (956,987 | ) | (482,139 | ) | (752,271 | ) | (142,447 | ) | |||||
| Depreciation and Amortization expense | 7,748,269 | 3,364,167 | 2,676,144 | 1,682,084 | |||||||||
| Stock compensation expense | 43,435,215 | 10,768,024 | 24,760,007 | 6,184,392 | |||||||||
| Business Acquisition Accounting expenses | 8,403,065 | - | 5,129,947 | - | |||||||||
| Change in fair value of warrant liability | 2,702,040 | 4,204,360 | (5,785,000 | ) | 3,260,960 | ||||||||
| Tax impact of executive RSUs | 9,151,161 | 2,069,993 | 5,632,379 | 1,161,722 | |||||||||
| Adjusted Net Income | $ | 46,521,713 | $ | 29,441,031 | $ | 13,403,973 | $ | 5,924,328 | |||||
| Weighted-average shares of Class A common stock outstanding | 70,761,830 | 56,951,414 | 81,784,013 | 64,169,227 | |||||||||
| Adjusted EPS | $ | 0.66 | $ | 0.52 | $ | 0.16 | $ | 0.09 | |||||
| ABACUS GLOBAL MANAGEMENT, INC. ADJUSTED EBITDA | |||||||||||||
| Full Year | Full Year | For the three months ended | |||||||||||
| Adjusted EBITDA | 2024 | 2023 | 12/31/2024 | 12/31/2023 | |||||||||
| Net income | $ | (24,918,037 | ) | $ | 9,034,487 | $ | (19,009,504 | ) | $ | (6,364,830 | ) | ||
| Depreciation and Amortization | 7,910,159 | 3,409,928 | 2,732,374 | 1,712,934 | |||||||||
| Interest expense | 18,279,686 | 9,866,821 | 5,861,740 | 6,246,126 | |||||||||
| Interest income | (2,398,691 | ) | (594,764 | ) | (727,863 | ) | (523,481 | ) | |||||
| Income Tax | 5,484,738 | 1,468,535 | 2,803,883 | (769,884 | ) | ||||||||
| Stock compensation | 43,435,215 | 10,768,024 | 24,760,007 | 6,184,392 | |||||||||
| Other (Income) / Expenses | (38,040 | ) | 146,443 | 94,570 | 144,878 | ||||||||
| Change in fair value of warrant liability | 2,702,040 | 4,204,360 | (5,785,000 | ) | 3,260,960 | ||||||||
| Business Acquisition expenses | 8,403,065 | - | 5,129,947 | - | |||||||||
| Change in fair value of debt | 4,835,351 | 2,356,058 | 799,024 | 2,046,193 | |||||||||
| Realized and Unrealized loss / (gain) on investments | (2,103,054 | ) | (1,369,112 | ) | (26,149 | ) | (877,756 | ) | |||||
| Adjusted EBITDA | $ | 61,592,432 | $ | 39,290,780 | $ | 16,633,029 | $ | 11,059,532 | |||||
| Revenue | $ | 111,923,786 | $ | 66,401,451 | $ | 33,212,009 | $ | 23,695,547 | |||||
| Adjusted EBITDA Margin | 55 | % | 59 | % | 50 | % | 47 | % | |||||
| Net (Loss) Income Margin | -22 | % | 14 | % | -57 | % | -27 | % | |||||
| ABACUS GLOBAL MANAGEMENT, INC. ADJUSTED RETURN ON INVESTED CAPITAL (ROIC) | |||||||||||||||
| For the 3 mo period ended | YTD | For the 3 mo period ended | YTD | ||||||||||||
| 9/30/2024 | 9/30/2024 | 12/31/2024 | 12/31/2024 | ||||||||||||
| Total Assets | $ | 477,309,168 | $ | 477,309,168 | $ | 874,164,752 | $ | 553,012,056 | (1) | ||||||
| Less: | |||||||||||||||
| Intangible assets, net | (24,653,141 | ) | (24,653,141 | ) | (79,786,793 | ) | (39,710,021 | ) | (1) | ||||||
| Goodwill | (139,930,190 | ) | (139,930,190 | ) | (238,296,200 | ) | (164,610,895 | ) | (1) | ||||||
| Total current liabilities | (23,862,348 | ) | (23,862,348 | ) | (62,466,079 | ) | (41,386,709 | ) | (1) | ||||||
| Total Invested Capital | $ | 288,863,489 | $ | 288,863,489 | $ | 493,615,680 | $ | 307,304,431 | |||||||
| Adjusted Net Income | $ | 14,879,252 | $ | 33,322,456 | $ | 13,403,973 | $ | 46,521,713 | |||||||
| Adjusted Annualized ROIC | 21 | % | 15 | % | 11 | % | 15 | % | |||||||
| Note: | |||||||||||||||
| (1) Weighted Average for the full year. | |||||||||||||||
| ABACUS GLOBAL MANAGEMENT, INC. ADJUSTED RETURN ON EQUITY (ROE) | |||||||||||||||
| For the 3 mo period ended | YTD | For the 3 mo period ended | YTD | ||||||||||||
| 9/30/2024 | 9/30/2024 | 12/31/2024 | 12/31/2024 | ||||||||||||
| Total stockholders' equity | $ | 257,939,628 | $ | 257,939,628 | $ | 423,294,672 | $ | 275,856,140 | (1) | ||||||
| Adjusted Net Income | $ | 14,879,252 | $ | 33,322,456 | $ | 13,403,973 | $ | 46,521,713 | |||||||
| Adjusted Annualized ROE | 23 | % | 17 | % | 13 | % | 17 | % | |||||||
| Note: | |||||||||||||||
| (1) Weighted Average for the full year | |||||||||||||||
FAQ
What was Abacus Global Management's (ABL) revenue growth in Q4 2024?
How many policies did ABL originate in full-year 2024?
What is ABL's projected adjusted net income for 2025?
What caused ABL's Q4 2024 GAAP net loss?
What was ABL's cash position at the end of 2024?
