Abacus Global Management Inc-A 2025年季度报告

(Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number 001-39403 Abacus Global Management, Inc. (Exact name of registrant as specified in its charter) Delaware85-1210472 (State or other jurisdiction of incorporation ororganization) (I.R.S. Employer Identification No.) 2101 Park Center Drive, Suite 200Orlando Florida 32835(Address of Principal Executive Offices)(Zip Code) (800) 561-4148Registrant's telephone number, including area code Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) ofthe Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90days.YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required tobe submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (orfor such shorter period that the registrant was required to submit such files).YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-acceleratedfiler, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,”“accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the ExchangeAct. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant toSection 13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).YesNo The registrant had 96,853,039 shares of common stock, $0.0001 par value per share, issued and outstanding as ofMay 2, 2025. Table of Contents ABACUS GLOBAL MANAGEMENT, INC. TABLE OF CONTENTS Page Item 2.Management’s Discussion and Analysis of Financial Condition and Results ofOperations36 Item 3.Quantitative and Qualitative Disclosures About Market Risk52Item 4.Controls and Procedures52PART II. OTHER INFORMATIONItem 1.Legal Proceedings53Item 1A.Risk Factors53Item 2.Unregistered Sales of Equity Securities and Use of Proceeds53Item 3.Defaults Upon Senior Securities53Item 4.Mine Safety Disclosures53Item 5.Other Information53Item 6.Exhibits53Signatures57 ABACUS GLOBAL MANAGEMENT, INC. CONSOLIDATED BALANCE SHEETS (CONT.) Table of Contents ABACUS GLOBAL MANAGEMENT, INC. UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME(LOSS) ABACUS GLOBAL MANAGEMENT, INC. UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME(LOSS) (CONT.) Three Months EndedMarch 31, Table of Contents ABACUS GLOBAL MANAGEMENT, INC. ABACUS GLOBAL MANAGEMENT, INC. UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS ABACUS GLOBAL MANAGEMENT, INC. ABACUS GLOBAL MANAGEMENT, INC. CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 1.BASIS OF PRESENTATION Theaccompanying consolidated financial statements(“Interim Financial Statements”)arepresented in accordance with the rules and regulations of the United States ("U.S.") Securities andExchange Commission ("SEC") and do not include all of the disclosures normally required by U.S.generally accepted accounting principles (“U.S. GAAP” or “GAAP”) as contained in the Company’sAnnual Report on Form 10-K. We have condensed or omitted certain information and footnotedisclosuresnormally included in financial statements presented in accordance with GAAP.Accordingly,the consolidated financial statements should be read in conjunction with theconsolidated financial statements and notes thereto included in the Company’s most recent AnnualReport on Form 10-K for the fiscal year ended December 31, 2024 (“2024 Annual Report”). Refer toNote 2 in the Company’s 2024 Annual Report for the full list of the Company’s significantaccounting policies. The details in those notes have not changed, except as discussed in Note 2 tothe Interim Financial Statements and as a result of normal adjustments in the interim periods.Capitalized terms used and not specifically defined herein have the same meanings given thoseterms in our 2024 Annual Report. We also may use certain other terms that are defined withinthese Interim Financial Statements. The Interim Financial Statements presented herein and discussed below include 100% of the assets,liabilities,revenues,expenses,and cash flows of Abacus Global Management,Inc.,(the“Company”) all entities in which the Company has