Abacus Life Inc. (ABL) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
2101 PARK CENTER DRIVE, SUITE 200 ORLANDO, FL 32835 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6282 - Investment Advice (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 3/31/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | |||
|---|---|---|---|---|---|---|---|
| ASSETS | |||||||
| Current Assets | |||||||
| Cash, cash equivalents, and short-term investments | 27,842 | 87 | 853 | 590 | |||
| Cash and cash equivalents | 25,589 | 87 | 853 | 590 | |||
| Short-term investments | 2,253 | ||||||
| Prepaid expense | 65 | 92 | 235 | ||||
| Other undisclosed current assets | 3,935 | ||||||
| Total current assets: | 31,777 | 151 | 945 | 824 | |||
| Noncurrent Assets | |||||||
| Operating lease, right-of-use asset | 1,894 | ||||||
| Property, plant and equipment | 401 | ||||||
| Long-term investments and receivables | 1,202 | ||||||
| Long-term investments | 1,202 | ||||||
| Intangible assets, net (including goodwill) | 169,910 | ||||||
| Goodwill | 140,287 | ||||||
| Intangible assets, net (excluding goodwill) | 29,623 | ||||||
| Asset, held-in-trust | 99,223 | 345,049 | 345,026 | ||||
| Other noncurrent assets | |||||||
| Other receivable, after allowance for credit loss | 999 | ✕ | ✕ | ✕ | |||
| Other undisclosed noncurrent assets | 125,644 | ||||||
| Total noncurrent assets: | 300,049 | 99,223 | 345,049 | 345,026 | |||
| TOTAL ASSETS: | 331,826 | 99,374 | 345,994 | 345,851 | |||
| LIABILITIES AND EQUITY | |||||||
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts payable and accrued liabilities | 4,354 | 9,228 | 144 | 141 | |||
| Accrued liabilities | 4,354 | 9,228 | 144 | 141 | |||
| Deferred revenue | 507 | ||||||
| Debt | 13,030 | ||||||
| Due to related parties | ✕ | ✕ | 4,924 | 1,500 | |||
| Other undisclosed current liabilities | 5,435 | ||||||
| Total current liabilities: | 23,326 | 14,152 | 1,644 | 141 | |||
| Noncurrent Liabilities | |||||||
| Liabilities, other than long-term debt | 10,996 | 12,075 | 12,075 | ||||
| Deferred revenue | 12,075 | 12,075 | |||||
| Deferred income tax liabilities | 9,199 | ||||||
| Operating lease, liability | 1,797 | ||||||
| Other undisclosed noncurrent liabilities | 133,434 | ||||||
| Total noncurrent liabilities: | 144,430 | 12,075 | 12,075 | ||||
| Other undisclosed liabilities | 4,629 | 15,512 | 32,711 | ||||
| Total liabilities: | 167,756 | 18,781 | 29,231 | 44,927 | |||
| Equity | |||||||
| Equity, attributable to parent, including: | 163,925 | (18,390) | (28,237) | (44,077) | |||
| Treasury stock, value | (1,283) | ||||||
| Additional paid in capital | 199,826 | 24 | 24 | 24 | |||
| Accumulated other comprehensive income | 108 | ||||||
| Accumulated deficit | (34,726) | (18,415) | (28,262) | (44,102) | |||
| Other undisclosed equity, attributable to parent | 1 | 1 | 1 | ||||
| Equity, attributable to noncontrolling interest | 138 | ||||||
| Other undisclosed equity | 6 | 98,983 | 345,000 | 345,000 | |||
| Total equity: | 164,070 | 80,594 | 316,763 | 300,923 | |||
| TOTAL LIABILITIES AND EQUITY: | 331,826 | 99,374 | 345,994 | 345,851 | |||
Income Statement (P&L) ($ in thousands)
| 3/31/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | ||
|---|---|---|---|---|---|---|
| Revenues | 66,401 | |||||
| Net investment income | 17,981 | |||||
| Cost of revenue | (6,490) | (236) | ||||
| Present value of future insurance profits, amortization expense | (236) | |||||
| Gross profit: | 59,911 | (236) | ||||
| Operating expenses | (35,785) | (240) | ||||
| Operating income (loss): | 24,126 | (476) | ||||
| Nonoperating income (expense) | (13,623) | 11,131 | 17,222 | |||
| Interest and debt expense | (2,086) | |||||
| Income (loss) from continuing operations before equity method investments, income taxes: | 8,417 | 11,131 | 16,746 | |||
| Other undisclosed loss from continuing operations before income taxes | (11,722) | |||||
| Income (loss) from continuing operations before income taxes: | 8,417 | (591) | 16,746 | |||
| Income tax expense (benefit) | (1,469) | (52) | 380 | |||
| Income (loss) from continuing operations: | 6,948 | (644) | 17,126 | |||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 17,126 | ✕ | |
| Other undisclosed net income (loss) | 2,086 | (1,286) | ||||
| Net income (loss): | 9,034 | (644) | 15,839 | |||
| Net income (loss) attributable to noncontrolling interest | 482 | |||||
| Net income (loss) available to common stockholders, diluted: | 9,517 | (644) | 15,839 | |||
Comprehensive Income ($ in thousands)
| 3/31/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | ||
|---|---|---|---|---|---|---|
| Net income (loss): | 9,034 | (644) | 15,839 | |||
| Other comprehensive loss | (1,248) | |||||
| Comprehensive income (loss): | 7,786 | (644) | 15,839 | |||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 800 | |||||
| Comprehensive income (loss), net of tax, attributable to parent: | 8,586 | (644) | 15,839 | |||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.