Financial Performance - Total revenue for Q3 2025 reached $63.0 million, representing a 124% increase year-over-year from $28.1 million[3] - GAAP net income attributable to shareholders was $7.1 million, a significant recovery from a net loss of $5.1 million in the prior-year period[3] - Adjusted net income increased 60% year-over-year to $23.6 million, compared to $14.7 million in the prior year[3] - Adjusted EBITDA grew 127% year-over-year to $37.9 million, with an adjusted EBITDA margin of 60.2%[3] - Total revenues for Q3 2025 reached $62.98 million, a significant increase from $28.15 million in Q3 2024, representing a growth of 123.7% year-over-year[22] - Life solutions revenue surged to $45.54 million in Q3 2025, compared to $28.03 million in Q3 2024, marking a 62.6% increase[22] - Gross profit for Q3 2025 was $55.32 million, up from $25.96 million in Q3 2024, reflecting a growth of 113.2%[22] - Operating income for the nine months ended September 30, 2025, was $65.96 million, compared to $15.87 million for the same period in 2024, indicating a year-over-year increase of 314.5%[22] - Net income for Q3 2025 was $7.08 million, a turnaround from a net loss of $5.28 million in Q3 2024[22] - For the three months ended September 30, 2025, Abacus Global Management reported an adjusted net income of $23,608,143, compared to $14,719,496 for the same period in 2024, reflecting a year-over-year increase of 60.5%[23] - The adjusted EBITDA for the three months ended September 30, 2025, was $37,904,835, with an adjusted EBITDA margin of 60.2%, compared to $16,666,306 and a margin of 59.2% in the same period of 2024[25] - Total revenue for the three months ended September 30, 2025, was $62,975,156, up from $28,148,491 in the same period of 2024, indicating a significant growth of 123.5%[25] - For the nine months ended September 30, 2025, the adjusted net income was $54,567,277, compared to $24,118,367 for the same period in 2024, representing an increase of 126.5%[24] Financial Position - Total assets as of September 30, 2025, amounted to $918.94 million, an increase from $874.16 million at the end of 2024, representing a growth of 5.1%[21] - Current liabilities increased to $148.44 million as of September 30, 2025, compared to $62.47 million at the end of 2024, reflecting a 137.5% rise[21] - Cash and cash equivalents decreased to $86.42 million from $131.94 million at the end of 2024, a decline of 34.5%[21] - The company repurchased 6,726,082 shares at a cost of $50.27 million as of September 30, 2025, compared to 1,048,226 shares repurchased for $12.03 million at the end of 2024[21] Returns and Shareholder Value - Annualized return on invested capital (ROIC) for Q3 2025 was 21%, and annualized return on equity (ROE) was 22%[10] - The adjusted annualized return on invested capital (ROIC) for the period ended September 30, 2025, was 21%, slightly up from 20% in the previous year[26] - The adjusted annualized return on equity (ROE) for the period ended September 30, 2025, was 22%, down from 23% in the previous year[27] - Earnings per share for Q3 2025 were $0.07, compared to a loss of $0.07 per share in Q3 2024[22] - The adjusted EPS for the three months ended September 30, 2025, was $0.25 for basic shares, compared to $0.20 in the same period of 2024[23] Strategic Initiatives - Abacus completed the strategic acquisition of AccuQuote, enhancing its financial services platform and expanding client lifecycle coverage[10] - The company announced a $50 million securitized asset-backed rated note of life insurance assets, marking a scalable funding mechanism[10] - Abacus was added to the Russell 2000® and 3000® Indexes, effective September 22, 2025, enhancing visibility to institutional investors[10] Costs and Liabilities - The company incurred business acquisition and special legal costs of $5,941,429 for the three months ended September 30, 2025[25] - The loss on change in fair value of warrant liability was $1,081,193 for the three months ended September 30, 2025, compared to $8,766,500 in the same period of 2024[25]
ET.RES.ACQ(ERESW) - 2025 Q3 - Quarterly Results