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SEGMENT REPORTING (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Summary of Revenue by Segment

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

		Three Months Ended June 30,								Six Months Ended June 30,
		2023				2022				2023				2022
Portfolio servicing		$	354,366			$	419,422			$	590,057			$	990,328
Active management			11,024,399				7,979,479				20,994,917				17,285,971
Total revenue		$	11,378,765			$	8,398,901			$	21,584,974			$	18,276,299

Summary of Segment Information

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

		Three Months Ended June 30,								Six Months Ended June 30,
		2023				2022				2023				2022
Portfolio servicing		$	(76,705	)		$	280,303			$	(166,128	)		$	668,752
Active management			10,482,070				7,452,479				20,288,152				15,521,472
Total gross profit			10,405,365				7,732,782				20,122,024				16,190,224
Sales and marketing			(683,841	)			(1,019,498	)			(1,412,845	)			(1,649,498	)
General, administrative and other			(577,539	)			(5,499	)			(1,274,431	)			(646,705	)
Depreciation			(1,098	)			(1,098	)			(2,141	)			(2,141	)
Other (expense) income			121,601				(127,455	)			(21,651	)			(242,247	)
Interest expense			(584,075	)			—				(934,001	)			—
Loss on change in fair value of debt			(1,445,229	)			(333,879	)			(2,398,662	)			(375,513	)
Unrealized gain (loss) on investments			672,936				(1,039,022	)			798,156				(1,054,975	)
Provision for income taxes			(1,184,571	)			(120,132	)			(528,104	)			(296,806	)
Less: Net loss attributable to non-controlling interests			26,596				(406,641	)			487,303				(406,641	)
Net income attributable to Abacus Life, Inc.		$	6,750,145			$	4,679,558			$	14,835,648			$	11,515,698

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
-SubTopic 10
-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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