Abacus Global Management, Inc. ABX
Abacus Global Management, Inc. ("we," "us," "our," the "Company," or "Abacus") was formerly known as Abacus Life, Inc. and East Resources Acquisition Company ("ERES"). The Company was initially organized as ERES, a blank check company incorporated in Delaware on May 22, 2020. On June 30, 2023, we completed a business combination by and between Abacus Merger Sub, LLC, a Delaware limited liability company and wholly owned subsidiary of ERES ("Abacus Merger Sub"), Longevity Market Assets, LLC, a Florida limited liability company ("LMA"), and Abacus Settlements, LLC, a Florida limited liability company ("Abacus Settlements" and, together with LMA, the "Companies"), pursuant to which (i) LMA Merger Sub merged with and into LMA, with LMA surviving and (ii) Abacus Merger Sub merged with and into Abacus, with Abacus
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $235.2M | $111.9M | $66.4M | $44.7M | — | — |
| Cost of revenue | $28.9M | $11.4M | $6.5M | $5.9M | — | — |
| Gross profit | $206.4M | $100.6M | $59.9M | $38.8M | — | — |
| SG&A | $87.8M | $81.7M | $26.5M | $1.4M | — | — |
| Total operating expenses | $117.6M | $101.4M | $35.8M | $5.2M | — | — |
| Operating income | $88.8M | -$888.3K | $24.1M | $33.7M | — | — |
| Interest expense | $38.8M | $18.3M | $9.9M | $42.8K | — | — |
| Pre-tax income | $52.0M | -$18.5M | $11.0M | -$591.1K | $15.8M | — |
| Income tax | $15.4M | $5.5M | $1.5M | $889.9K | — | — |
| Net income | $36.5M | -$24.0M | $9.5M | $31.7M | $15.8M | — |
| EPS, basic | 0.38 | -0.34 | 0.17 | 0.63 | — | — |
| EPS, diluted | 0.36 | -0.34 | 0.16 | 0.63 | — | — |
| Shares, diluted (wtd. avg.) | $99.2M | $70.8M | $57.8M | $50.4M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $38.1M | $131.9M | $25.6M | $30.1M | $102.4K | — |
| Total current assets | $69.6M | $159.6M | $31.8M | $33.3M | $944.8K | $824.4K |
| Property, plant and equipment | $1.6M | $1.0M | $400.7K | $18.6K | — | — |
| Goodwill | $252.8M | $238.3M | $140.3M | $0 | — | — |
| Other intangibles | $66.4M | $79.8M | $29.6M | $0 | — | — |
| Total assets | $902.2M | $874.2M | $331.8M | $59.1M | $346.0M | $345.9M |
| Accounts payable | — | — | $0 | $40.0K | — | — |
| Short-term debt | $115.9M | $38.4M | $0 | $0 | — | — |
| Total current liabilities | $148.6M | $62.5M | $23.3M | $1.3M | — | — |
| Long-term debt | $289.9M | $342.4M | — | — | — | — |
| Total liabilities | $478.7M | $450.9M | $167.8M | $30.9M | $29.2M | $44.9M |
| Retained earnings | -$41.6M | -$57.9M | -$34.7M | $25.5M | -$28.3M | -$44.1M |
| Total equity | $418.5M | $423.3M | $164.1M | $28.1M | $766.9K | -$44.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$25.7M | -$208.8M | -$64.0M | $10.7M | -$1.2M | — |
| Depreciation and amortisation | $18.6M | $7.9M | $3.4M | $4.3K | — | — |
| Stock-based compensation | $15.5M | $43.4M | $10.8M | $0 | $0 | — |
| Capital expenditure | $931.4K | $786.2K | $189.7K | $0 | — | — |
| Investing cash flow | -$23.3M | -$5.0M | $2.2M | -$3.7M | — | — |
| Financing cash flow | -$44.9M | $320.1M | $57.3M | $23.0M | $1.5M | — |
| Dividends paid | $19.6M | $0 | — | — | — | — |
| Buybacks | $43.8M | $10.7M | $1.3M | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-026261.
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