secwatch.observer — SEC 8-K summary
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Issuer:     Abacus Global Management, Inc. (ABX)
CIK:        0001814287
Form:       8-K
Filed at:   2024-05-13T23:59:59+00:00
Accession:  0001814287-24-000033
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Abacus Life Q1 revenue more than doubles to $21.5M; GAAP net loss $1.3M vs prior-year profit
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- Total revenue $21.5M, up 109% YoY from $10.3M, driven by active management and direct-to-consumer growth.
- GAAP net loss attributable to shareholders $1.3M vs net income $8.1M; adjusted net income $6.7M vs $7.6M.
- Adjusted EBITDA $11.6M (+38.1% YoY), margin 53.9% vs 81.4% prior year.
- Originations capital deployment $33.3M; policy originations up 6% to 119.
- Repurchased 966k shares at avg $11.41; $4M remaining under $15M buyback program.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1814287/000181428724000033/0001814287-24-000033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1814287/000181428724000033/abl-20240513.htm
  HTML page:      https://secwatch.observer/filing/0001814287-24-000033

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer