Abacus Global Management, Inc.
For the period ended Dec 31, 2024. Filed Mar 28, 2025.
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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.
FY2024 · Filed Mar 28, 2025
ABX$9.13+1.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
ABACUS GLOBAL MANAGEMENT, INC.
CONSOLIDATED BALANCE SHEETSAS OF 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 |
| 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 |
| 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 |
ABACUS GLOBAL MANAGEMENT INC.
CONSOLIDATED BALANCE SHEETS (CONT.)
AS OF DECEMBER 31,
| 2024 | 2023 | |
|---|---|---|
| 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 |
| Retrocession fees payable | 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 (Note 12) | ||
| Preferred stock, $0.0001 par value; 1,000,000 authorized shares authorized; none issued or outstanding | — | — |
| Class A common stock, $0.0001 par value; 200,000,000 authorized shares; 96,731,194 and 63,388,823 shares issued, respectively | 10,133 | 6,339 |
| Treasury stock - at cost; 1,048,226 and 146,650 shares, 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 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.