Abacus Life Q4 revenue +25% YoY to $23.6M; originations capital +92% to $68.3M

Abacus Global Management, Inc.

Full year 2023 total revenue $79.6M (+14% YoY); originations capital deployment $218.9M (+46% YoY).
Q4 2023 GAAP net loss $6.2M (vs $10.1M income prior) due to non-cash stock comp, warrant liability, and debt extinguishment charges.
Q4 2023 adjusted net income $5.9M vs $11.0M prior year; full year adjusted net income $29.4M vs $32.4M prior year.
Stock repurchase: 725,166 shares bought back at avg $11.20 for $8.1M; $6.9M remaining under $15M program.
Completed public bond offering, raised additional $25M via 9.875% Notes, reducing interest rate by ~275 bps; launched ABL Tech subsidiary.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Abacus Global Management, Inc. reported quarter ended December 31, 2023 results: revenue $23.6 million, net income $6.2 million.

Period: quarter ended December 31, 2023
Revenue: $23.6 million
Net income: $6.2 million
Result: reported results

Exact text from the filing

Total revenue for the fourth quarter of 2023 grew 25% to $23.6 million, compared to $18.8 million in the prior-year period.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Abacus Global Management, Inc. reported year ended December 31, 2023 results: revenue $79.6 million, net income $8.5 million.

Period: year ended December 31, 2023
Revenue: $79.6 million
Net income: $8.5 million
Result: reported results

Exact text from the filing

On March 21, 2024, Abacus Life, Inc. announced the results of its operations and its financial condition for the year ended December 31, 2023. The full text of the earnings release is included here as Exhibit 99.1 hereto.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Abacus Global Management, Inc. reported year ended December 31, 2023 results: revenue $79.6 million, net income $8.5 million.

Period: year ended December 31, 2023
Revenue: $79.6 million
Net income: $8.5 million
Result: reported results

Exact text from the filing

Full year 2023 total revenues were $79.6 million, an increase of 14% from the prior year

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Abacus Global Management, Inc. filing history →

Source: SEC EDGAR

accession 0001814287-24-000027

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