Abacus Life, Inc. announced preliminary financial results for the third quarter of 2024, expecting total revenue between $26.0 million and $28.0 million. This represents a projected year-over-year growth of 23% to 33%. The company also anticipates Adjusted EBITDA to be between $14.0 million and $16.0 million, indicating a 30% to 48% increase year-over-year.
The preliminary report projects a GAAP Net Loss between ($6.0 million) and ($6.75 million) for the quarter. This loss is primarily attributed to a non-cash increase in warrant liability, estimated between $8.0 million and $9.0 million. The company's operational performance, as reflected in Adjusted EBITDA, shows continued growth.
These preliminary figures provide investors with an early look at the company's financial trajectory, emphasizing strong underlying business growth in revenue and adjusted profitability. The non-cash nature of the GAAP net loss driver suggests operational strength remains intact.
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