Abacus Global Management Inc. - 2025年季度报告

SECURITIES AND EXCHANGE COMMISSION (Mark One) xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedMarch 31, 2025OR oTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transion period from _____to _____Commissionfile number001-39403 Abacus Global Management, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdicon of incorporaon or organizaon) (I.R.S. Employer Idenficaon No.) (800)561-4148Registrant's telephone number, including area code Indicate by check mark whether the registrant (1) hasfiled all reports required to befiled by Secon 13 or 15(d) of the SecuriesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required tofile such Indicate by check mark whether the registrant has submied electronically every Interacve Data File required to be submiedpursuant to Rule 405 of Regulaon S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Indicate by check mark whether the registrant is a large acceleratedfiler, an acceleratedfiler, a non-acceleratedfiler, a smallerreporng company, or an emerging growth company. See the definions of “large acceleratedfiler,” “acceleratedfiler,” “smaller If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transion period forcomplying with any new or revisedfinancial accounng standards provided pursuant to Secon 13(a) of the Exchange Act.x Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ABACUS GLOBAL MANAGEMENT, INC. TABLE OF CONTENTS Financial Statements of AbacusGlobal Management, Inc. (Unaudited) Unaudited Consolidated Statements of Operaons and ComprehensiveIncome(Loss)4 Management’s Discussion and Analysis of Financial Condion and Results of Operaons PART II. OTHER INFORMATION Table of Contents ABACUS GLOBAL MANAGEMENT, INC. ABACUS GLOBAL MANAGEMENT, INC. ABACUS GLOBAL MANAGEMENT, INC. UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) Table of Contents ABACUS GLOBAL MANAGEMENT, INC. UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (CONT.) Table of Contents ABACUS GLOBAL MANAGEMENT, INC. UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY ABACUS GLOBAL MANAGEMENT, INC. ABACUS GLOBAL MANAGEMENT, INC. ABACUS GLOBAL MANAGEMENT, INC. CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 1.BASIS OF PRESENTATION The accompanying consolidatedfinancial statements (“Interim Financial Statements”) are presented in accordancewith the rules and regulaons of the United States ("U.S.") Securies and Exchange Commission ("SEC") and do notinclude all of the disclosures normally required by U.S. generally accepted accounng principles (“U.S. GAAP” or“GAAP”) as contained in the Company’s Annual Report on Form 10-K. We have condensed or omied certaininformaon and footnote disclosures normally included infinancial statements presented in accordance with GAAP.Accordingly, the consolidatedfinancial statements should be read in conjuncon with the consolidatedfinancialstatements and notes thereto included in the Company’s most recent Annual Report on Form 10-K for thefiscal year The Interim Financial Statements presented herein and discussed below include 100% of the assets, liabilies,revenues, expenses, and cashflows of Abacus Global Management, Inc., (the “Company”) all enes in which theCompany has a controlling vong interest (“subsidiaries”), and variable interest enes (“VIEs”) for which theCompany is the primary beneficiary, as determined in accordance with consolidaon accounng guidance.References in these Interim Financial Statements to net income or loss aributable to common stockholders and The Interim Financial Statements have been prepared on a basis consistent with the audited annualfinancialstatements as of and for the year ended December31, 2024, and, in the opinion of management, reflect alladjustments, consisng solely of normal recurring adjustments, necessary for the fair presentaon of theCompany’sfinancial posion as of March31, 2025, and the consolidated statements of operaons andcomprehensive income (loss) for the three months ended March31, 2025 and 2024, respecvely, and the The preparaon offinancial statements in conformity with GAAP requires management to make esmates andassumpons that affect amounts reported in thefinancial statements and accompanying notes. Such esmatesinclude, but are not limited to, revenue recognion, cost of revenue, life selement policy valuaon, goodwill and 2.SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING STANDARDS New Accounng Standards—The Company’s management reviews recent accounng standards to determine theimpact to the Com