Abacus Global Management, Inc. (ABX) SEC Filings & Earnings Calls

Interest rate sensitivity of discount rate on policy sales

“Discount rate tracked Fed funds from 12% to 21% and back to 10%; but realized gains stable, mitigating risk”

Valuation methodology change could affect comparability

“Updated to Historical Return Method in Q2 2026; inputs unchanged but methodology changed”

Asset Management Revenue Decline

“Asset management revenue decreased by $1,546,223, or 17.6%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025.” · word for word

Operating Expense Growth

“General and administrative (including stock-based compensation) increased by $14,029,745, or 74.1%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025.” · word for word

Cash Burn

“Cash and cash equivalents decreased from $38,112,332 at December 31, 2025 to $23,388,190 at June 30, 2026.”

Debt Maturity Concentration

“The Company has a material near-term debt maturity in 2027, when the secured borrowing of LMA Income Series II, LP matures on June 30, 2027.” · word for word

GAAP net income declined 63% YoY due to strategic business expenses and personnel costs from acquisitions.

“GAAP net income $6.6M vs $17.6M in prior year”

High leverage with $330.6M debt vs $23.4M cash; reliance on longevity fund inflows for cash generation.

“total outstanding debt ... of $330.6 million; cash and cash equivalents of $23.4 million”

Increased leverage from additional debt, though terms remain similar.

“Incremental term loans of $75M added, total $225M, interest rate SOFR+5.25%”

Execution risk in commercializing LifeARC platform and converting pipeline into revenue.

“The revenue model compounds with data licensing to institutions, LifeARC™ advisory and planning fees, increased direct AUM and insurance and annuity integration.” · word for word

Related Party Transaction Concentration

“Sales to related parties resulted in average realized gains of 26.4% compared to 10% from external parties during the three months ended March 31, 2026.” · word for word

High Operating Expense Growth

“General and administrative expenses increased 111.0% YoY, driven by payroll, stock-based compensation, and legal fees.”

Interest Expense Increase

“Interest expense increased 8.7% YoY due to $50M delayed draw borrowing in September 2025.”

Concentration in longevity-based assets; mortality-driven returns may face demographic or regulatory shifts.

“Our assets are mortality-driven, structurally uncorrelated to credit and equity cycles.” · word for word

Debt of $330M net of deferred issuance costs; leverage could increase if securitization or capital deployment accelerates.

“Total outstanding debt, net of deferred issuance costs and discounts, of $330.0 million.” · word for word

Integration risk from Manning & Napier minority stake and strategic alliance.

“Abacus entered into a definitive agreement to acquire an approximately $53 million minority equity stake in Manning & Napier, Inc.” · word for word

Concentration of Ownership

“All Directors and Executive Officers as a group beneficially own 46.4% of outstanding Common Stock.” · word for word

Related Party Transactions

“Significant related party transactions with Carlisle Funds and LP Funds, including management fees, servicing fees, and policy purchases.”

Valuation Uncertainty of Life Insurance Policies

“The valuation of life insurance policies involves inherent uncertainty (including, without limitation, the life expectancies of insureds and future increases in premium costs to keep the policies in force).” · word for word

Life Expectancy Forecasting Risk

“The Company could fail to accurately forecast life expectancies. There may also be changes to life expectancies generally, or from improvements in health care treatments, resulting from people living longer in the future, which could result in a lower return on the Company’s life settlement policies.” · word for word

Policy Acquisition Availability Risk

“The Company’s policy acquisitions are limited by the market availability of life insurance policies that meet the Company’s eligibility criteria and purchase parameters, and failure to secure a sufficient number of quality life insurance policies could have a material adverse effect on the Company’s business.” · word for word

Increased Competition Risk

“The Company may experience increased competition from originating life insurance companies, life insurance brokers, and investment funds which could have a material adverse effect on the Company’s business.” · word for word

Fraud Risk in Policy Origination

“There is a risk of fraud in the origination of the original life insurance policy or in subsequent sales of the life insurance policy that could adversely affect the Company’s investment returns which could have a material adverse impact on the Company’s business.” · word for word

No significant risks identified; strong performance across all metrics.

“Consistent earnings beats, margin expansion, and positive guidance.”

Acquisition integration and goodwill risk

“The increase is mainly due to the Carlisle Acquisition and FCF Acquisition with their corresponding revenue activity having commenced in December 2024.” · word for word

High leverage and interest expense

“Interest expense increased by $5,520,158 or 130.9% for the three months ended September 30, 2025 compared to the three months ended September 30, 2024.” · word for word

Dependence on continued institutional demand for life settlements

“The realized gain and unrealized activity is mainly due to the Company’s expanded capital base and deployment capacity following two major financing events.” · word for word

Dependence on continued demand for longevity-based assets; any shift in investor appetite could impact growth.

“Robust demand for our longevity-based assets, uncorrelated to traditional markets at a time when investors are increasingly focused on diversification.” · word for word

Integration risk from recent acquisition of AccuQuote; potential execution challenges.

“our acquisition of AccuQuote further expands and strengthens our financial services platform.” · word for word

Leverage and interest expense risk from $50M securitized note; interest expense partially offset revenue gains.

“The increase was primarily driven primarily driven by higher revenues, partially offset by increased operating costs and interest expense.” · word for word