ABL

Abacus Life, Inc. Releases Detailed 10-Q Report

Abacus Life, Inc. has released its latest 10-Q report, providing a detailed insight into the company's financial condition and operational performance. Abacus Life, Inc. operates as an alternative asset manager specializing in life insurance products. It purchases life insurance policies from consumers seeking liquidity and manages policies over time via trading, holding, and/or servicing. The company was founded in 2004 and is based in Orlando, Florida.

In the 10-Q report, under Item 2 * Management's Discussion and Analysis of Financial Condition and Results of Operations, Abacus Life, Inc. provides an overview of its business operations and revenue streams. The report highlights that the company is composed of two principal operating subsidiaries, Abacus and LMA, which specialize in investing in inforce life insurance products throughout the lifecycle of a life insurance policy. The company purchases life insurance policies from consumers seeking liquidity and actively manages those policies over time through trading, holding, and/or servicing. Abacus Life, Inc. is one of the leading buyers of life insurance policies in the U.S. and leverages its strong market position, highly efficient origination platform, and proprietary technology to drive revenue and profitability.

The report also delves into the critical accounting policies and estimates used by the company in preparing its financial statements. It states that the company evaluates its estimates and judgments on an ongoing basis, basing its estimates on historical experience and other relevant assumptions. The report further discusses recent accounting pronouncements and provides detailed performance measures, including revenue breakdowns for the three months ended March 31, 2024, and March 31, 2023.

For the three months ended March 31, 2024, the company reported total revenues of $21,487,184, representing a significant increase from the $10,273,389 reported for the same period in 2023. The increase in revenue was primarily driven by a substantial rise in active management revenue, which surged to $19,796,999 in 2024 from $9,970,518 in 2023. This represents a remarkable 98.6% increase in active management revenue year-over-year.

Additionally, the report provides detailed insights into the company's revenue streams, including related party servicing revenue, portfolio servicing revenue, active management revenue, and origination revenue. It also offers a breakdown of the changes in revenue from related party services, portfolio servicing, and active management, highlighting the factors contributing to these fluctuations.

Following these announcements, the company's shares moved 0.3%, and are now trading at a price of $12.01. If you want to know more, read the company's complete 10-Q report here.

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