Financial Performance - Total revenue for Q3 2025 reached $63.0 million, a 124% increase year-over-year from $28.1 million[3] - GAAP net income for Q3 2025 was $7.1 million, compared to a net loss of $5.1 million in the prior year[3] - Adjusted net income rose 60% year-over-year to $23.6 million, with adjusted diluted earnings per share at $0.24[3] - Adjusted EBITDA for Q3 2025 increased 127% to $37.9 million, maintaining an adjusted EBITDA margin of 60.2%[3] - Total revenues for Q3 2025 reached $62,975,156, a significant increase from $28,148,491 in Q3 2024, representing a growth of 123.6%[22] - Life solutions revenue increased to $45,536,880 in Q3 2025, compared to $28,032,105 in Q3 2024, marking a growth of 62.6%[22] - Gross profit for Q3 2025 was $55,319,458, up from $25,960,510 in Q3 2024, reflecting a growth of 113.2%[22] - Operating income for the nine months ended September 30, 2025, was $65,959,737, compared to $15,873,870 for the same period in 2024, an increase of 314.5%[22] - Net income for Q3 2025 was $7,075,348, a turnaround from a net loss of $5,284,811 in Q3 2024[22] - For the three months ended September 30, 2025, adjusted net income was $23,608,143, compared to $14,719,496 for the same period in 2024, representing a year-over-year increase of 60.5%[23] - 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 2024[25] - Total revenue for the three months ended September 30, 2025, was $62,975,156, up from $28,148,491 in 2024, indicating a significant growth of 123.8%[25] - Adjusted EPS for the three months ended September 30, 2025, was $0.25 for basic shares, compared to $0.20 in 2024, reflecting a 25% increase[23] - The net income attributable to Abacus Global Management, Inc. for the three months ended September 30, 2025, was $7,075,348, a turnaround from a loss of $(5,125,055) in 2024[23] Outlook and Strategic Initiatives - The company is raising its full-year 2025 outlook for adjusted net income to between $80 million and $84 million, implying growth of 72% to 81% compared to 2024[5] - Abacus completed a strategic acquisition of AccuQuote, enhancing its financial services platform and expanding client lifecycle coverage[10] - The company sold $50 million in securitized life insurance assets, structured as an investment-grade rated collateralized note[10] - Abacus was added to the Russell 2000® and 3000® Indexes, effective September 22, 2025, improving visibility to institutional investors[10] Capital and Asset Management - Origination capital deployment increased by 10% to $102.4 million, with the number of policies held totaling 522[3] - Total assets as of September 30, 2025, amounted to $918,937,530, an increase from $874,164,752 as of December 31, 2024[21] - Current liabilities increased to $148,438,496 as of September 30, 2025, compared to $62,466,079 at the end of 2024[21] - Long-term debt, net, rose to $276,072,681 as of September 30, 2025, from $224,742,029 at the end of 2024[21] - Cash and cash equivalents decreased to $86,418,953 as of September 30, 2025, from $131,944,282 at the end of 2024[21] Returns and Shareholder Metrics - Annualized return on invested capital (ROIC) for Q3 2025 was 21%, and annualized return on equity (ROE) was 22%[10] - The company reported an adjusted annualized return on invested capital (ROIC) of 21% for the period ended September 30, 2025, compared to 20% in 2024[26] - Adjusted annualized return on equity (ROE) was 22% for the period ended September 30, 2025, slightly down from 23% in 2024[27] - The weighted-average stock outstanding for basic shares was 95,956,504 for the three months ended September 30, 2025, compared to 74,691,319 in 2024[23] Costs and Liabilities - The company incurred $5,941,429 in business acquisition and special legal costs 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 2024[25]
EAST RESOURCES A(ERES) - 2025 Q3 - Quarterly Results