Abacus Global Management, Inc.
For the period ended Dec 31, 2025. Filed Mar 13, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 13, 2026
ABX$9.13+1.6%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
ABACUS GLOBAL MANAGEMENT, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Years Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income (loss) | $37,311,952 | $(24,918,037) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Depreciation and amortization | 18,605,114 | 7,910,158 |
| Allowance for credit losses | 1,245,575 | — |
| Impairment of other investment | 500,000 | — |
| Stock-based compensation | 15,519,382 | 43,435,215 |
| Amortization of debt issuance costs | 2,405,939 | 936,112 |
| Unrealized gain on equity securities, at fair value | — | 238,012 |
| Unrealized gain on other investments | (204,016) | — |
| Non-cash gain on policy trades | — | (6,422,002) |
| Unrealized gain on policies, at fair value | (49,287,046) | (53,786,829) |
| Loss (Gain) on change in fair value of debt | (3,362,103) | 4,835,351 |
| Loss on change in fair value of warrant liability | 1,704,193 | 2,702,040 |
| Non-cash interest income | (384,618) | (99,969) |
| Deferred income taxes | 824,674 | 5,999,572 |
| Non-cash interest expense, related party | 1,588,564 | 3,061,172 |
| Non-cash interest expense | 143,629 | 470,464 |
| Non-cash lease expense | 422,954 | 352,056 |
| Non-cash other income | (1,750,000) | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (798,821) | (13,202,882) |
| Accounts receivable, related party | (5,607,465) | 266,030 |
| Equity securities, at fair value | — | 2,203,367 |
| Management and performance fee receivable, related party | 1,420,839 | (466,649) |
| Prepaid expenses and other current assets | (948,416) | (361,872) |
| Other assets | 115,807 | (537,242) |
| Accrued expenses | 3,948,939 | 802,510 |
| Accrued transaction costs | 1,852,971 | 483,206 |
| Contract liabilities, deposits on pending settlement | (2,304,359) | 1,966,543 |
| Other current liabilities | (4,303,850) | 3,858,345 |
| Income tax payable | 3,022,552 | (751,734) |
| 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) |
| Net change in life settlement policies, at cost | 165,672 | 613,201 |
| Net cash used in operating activities | (25,680,465) | (208,810,444) |
ABACUS GLOBAL MANAGEMENT, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS (CONT.)
FOR THE YEARS ENDED DECEMBER 31,
| Years Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| 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) |
| Purchase of intangible assets | — | (18,900) |
| Purchase of other investments | (11,699,569) | (200,000) |
| Purchase of available for sale securities | (2,000,000) | (1,000,000) |
| Change in due from affiliates | — | (519,534) |
| Net cash used in investing activities | (23,278,737) | (4,955,290) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Issuance of long term debt | 50,000,000 | 125,000,000 |
| Issuance of long term-debt, at fair value | 26,048,884 | 73,475,570 |
| Payment of discounts and financing costs | (1,475,195) | (7,475,569) |
| Repayment of debt | (1,125,000) | — |
| Repayment of debt, at fair value | (51,226,628) | (4,040,758) |
| Repayment of debt, related party | — | (28,189,406) |
| Common stock issuance | — | 181,702,400 |
| Common stock issuance transaction costs | (3,473,280) | (14,812,621) |
| Repurchase of common stock | (43,783,458) | (10,742,075) |
| Transaction costs | — | (483,451) |
| Payment of Series A Convertible Preferred dividend | (287,500) | — |
| Payment of Common dividend | (19,550,571) | — |
| Due to former members | — | (1,159,712) |
| Warrant conversions | — | 6,852,206 |
| Due to affiliates | — | (5,236) |
| Net cash (used in) provided by financing activities | (44,872,748) | 320,121,348 |
| NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (93,831,950) | 106,355,614 |
| CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD | 131,944,282 | 25,588,668 |
| CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD | $38,112,332 | $131,944,282 |
| NON-CASH OPERATING, INVESTING, AND FINANCING ACTIVITIES: | ||
| Non-cash sale of life settlement policies, at fair value | $— | $24,957,059 |
| Non-cash purchase of life settlement policies, at fair value | $— | $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 | $77,547,880 |
| Non-cash investment in other investments | $5,000,000 | $— |
| Non-cash issuance of series A convertible preferred stock | $5,000,000 | $— |
| Warrant Conversions | $11,049,193 | $— |
| SUPPLEMENTAL DISCLOSURES: | ||
| Interest paid | $34,037,633 | $11,615,613 |
| Income taxes paid, net of refunds | $9,187,435 | $2,146,846 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.