Abacus Global Management, Inc.
For the period ended Sep 30, 2025. Filed Nov 7, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 7, 2025
ABX$9.13+1.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Consolidated Statements of Cash Flows
ABACUS GLOBAL MANAGEMENT, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income (loss) | $30,085,303 | $(5,908,533) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Depreciation and amortization | 14,342,711 | 5,177,785 |
| Allowance for credit losses | 622,788 | — |
| Stock-based compensation | 10,369,582 | 18,675,208 |
| Amortization of debt issuance costs | 1,651,340 | 638,089 |
| Unrealized gain on equity securities, at fair value | — | (1,220,161) |
| Realized gain on equity securities, at fair value | — | (856,744) |
| Non-cash gain on policy trades | — | (3,110,282) |
| Unrealized gain on policies, at fair value | (33,600,970) | (38,140,038) |
| Change in fair value of debt | (3,362,103) | 4,036,327 |
| Change in fair value of warrant liability | 1,704,193 | 8,487,040 |
| Non-cash interest income | (347,674) | (79,805) |
| Deferred income taxes | 4,611,788 | 3,985,966 |
| Non-cash interest expense, related party | 1,173,468 | 2,692,795 |
| Non-cash interest expense | 143,630 | 352,848 |
| Non-cash lease expense | 117,416 | 219,143 |
| Non-cash other income | (1,750,000) | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (13,108,469) | (83,321) |
| Accounts receivable, related party | (10,921,957) | (3,989) |
| Equity securities, at fair value | — | 1,406,848 |
| Management and performance fee receivable, related party | 2,086,065 | — |
| Prepaid expenses and other current assets | (1,880,093) | (1,371,748) |
| Other assets | (256,269) | (651,753) |
| Accrued expenses | 1,707,300 | (1,818,948) |
| Accrued transaction costs | 2,040,747 | 2,600,000 |
| Contract liabilities, deposits on pending settlement | (2,114,560) | 417,083 |
| Other current liabilities | (2,270,137) | 259,157 |
| Income tax payable | (640,689) | (751,734) |
| Income tax receivable | 910,545 | (2,702,103) |
| Retrocession fees payable | 49,500 | — |
| Net change in life settlement policies, at fair value | (19,782,930) | (109,702,614) |
| Net change in life settlement policies, at cost | 178,628 | 626,006 |
| Net cash used in operating activities | (18,240,847) | (116,827,478) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Origination of note receivable | (7,000,000) | — |
| Acquisition of businesses, net of cash acquired | (1,660,177) | — |
| Purchase of property and equipment | (818,968) | (593,459) |
| Purchase of intangible assets | — | (102,136) |
| Purchase of other investments | (3,000,000) | (200,000) |
| Purchase of available for sale securities | (1,500,000) | — |
| Change in due from affiliates | — | (271,571) |
| Net cash used in investing activities | (13,979,145) | (1,167,166) |
ABACUS GLOBAL MANAGEMENT, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS (CONT.)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Issuance of long term-debt | 50,000,000 | 25,000,000 |
| Issuance of long term-debt, at fair value | 25,410,115 | 41,685,109 |
| Payment of discounts and financing costs | (1,393,089) | (1,887,460) |
| Repayment of debt | (750,000) | — |
| Repayment of debt, at fair value | (46,423,206) | (4,040,758) |
| Repayment of debt, related party | — | (28,189,406) |
| Common stock issuance | — | 92,000,000 |
| Common stock issuance transaction costs | (1,811,502) | (7,697,078) |
| Repurchase of common stock | (38,243,905) | (10,742,075) |
| Payment of Series A Convertible Preferred dividend | (93,750) | — |
| Due to former members | — | (1,159,712) |
| Warrant conversions | — | 6,852,207 |
| Due to affiliates | — | (5,236) |
| Net cash (used in) provided by financing activities | (13,305,337) | 111,815,591 |
| NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | (45,525,329) | (6,179,053) |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT THE BEGINNING OF THE PERIOD | 131,944,282 | 25,588,668 |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT THE END OF THE PERIOD | $86,418,953 | $19,409,615 |
| NON-CASH OPERATING, INVESTING, AND FINANCING ACTIVITIES: | ||
| Non-cash sale of life settlement policies, at fair value | $— | $14,294,275 |
| Non-cash purchase of life settlement policies, at fair value | $— | $14,294,275 |
| Non-cash consideration for business acquisition | $9,265,197 | $— |
| Non-cash issuance of debt in connection with business acquisition | $2,002,400 | $— |
| Non-cash issuance of common stock in connection with business acquisition | $1,610,918 | $— |
| Non-cash investment in other investments | $5,000,000 | $— |
| Non-cash issuance of series A convertible preferred stock | $5,000,000 | $— |
| SUPPLEMENTAL DISCLOSURES: | ||
| Interest paid | $24,641,100 | $7,851,024 |
| Income taxes paid, net of refunds | $5,700,000 | $2,691,871 |
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