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SEGMENT REPORTING (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Summary of Revenue by Segment

Revenue related to the Company’s reporting segments for the three-month and nine-month periods ended September 30, 2023, and September 30, 2022, is as follows:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
Portfolio servicing			$	224,569					$	382,245					$	814,626					$	1,372,573
Active management			18,926,144						11,125,503						39,921,061						28,411,475
Originations			10,214,489						—						10,214,489						—
Segment revenue (including inter-segment)			29,365,202						11,507,748						50,950,176						29,784,048
Inter-segment elimination			(8,244,272)						—						(8,244,272)						—
Total revenue			$	21,120,930					$	11,507,748					$	42,705,904					$	29,784,048

Summary of Segment Information

Information related to the Company’s reporting segments for the three-month and nine-month periods ended September 30, 2023 and September 30, 2022 is as follows:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
Portfolio servicing			$	(626,045)					$	(106,817)					$	(792,173)					$	561,935
Active management			13,856,637						9,859,671						34,144,789						25,381,144
Originations			4,525,381						—						4,525,381						—
Total gross profit			17,755,973						9,752,854						37,877,997						25,943,079
Sales and marketing			(1,704,154)						(14,905)						(3,116,999)						(1,664,403)
General and administrative (including stock based compensation of $4,583,632)			(9,838,951)						(59,816)						(11,113,382)						(706,523)
Depreciation and amortization expense			(1,694,853)						(1,071)						(1,696,994)						(3,211)
Other (expense) income			20,086						42,289						(1,565)						(199,958)
Loss on change in fair value of warrant liability			(943,400)						—						(943,400)						—
Interest expense			(2,679,237)						—						(3,620,695)						—
Interest income			63,826						—						71,283						—
Gain (Loss) on change in fair value of debt			2,088,797						1,235,032						(309,865)						859,519
Unrealized (loss) gain on investments			(306,800)						(246,846)						491,356						(1,301,821)
Provision for income taxes			(1,710,315)						(352,081)						(2,238,419)						(648,887)
Less: Net gain (loss) attributable to non-controlling interests			(147,611)						(363,452)						339,692						(770,093)
Net income attributable to Abacus Life, Inc.			$	903,361					$	9,992,004					$	15,739,009					$	21,507,702

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues.

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-Name Accounting Standards Codification
-Topic 280
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-Section 50
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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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