Abacus Life Q3 revenue up 20% to $21.1M; adjusted EBITDA up 26% to $10.8M

Abacus Global Management, Inc.

2023-Q3 EPS reported $0.29 revenue$42,705,904

GAAP net income of $0.9M vs $11.2M prior year; adjusted net income of $9.2M vs $10.2M.
Originations capital deployment grew 43% to $51M; policy originations up 61% to 181.
Active management revenue increased 70% to $18.9M; total revenue from originations fell to $2.0M.
Completed first public bond offering post-quarter, improving cost of capital by ~275 bps.
Launched ABL Wealth division with Dynasty Financial Partners for lifespan-based solutions.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Abacus Global Management, Inc. reported the quarter ended September 30, 2023 results: revenue $21.1 million, net income $0.9 million.

Period: the quarter ended September 30, 2023
Revenue: $21.1 million
Net income: $0.9 million
Result: reported results

Exact text from the filing

Total revenue for the third quarter of 2023 grew 20% to $21.1 million, compared to $17.5 million in the prior-year period.

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Source: SEC EDGAR

accession 0001814287-23-000029

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