SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES New Accounting Standards—The Company’s management reviews recent accounting standards to determine the impact to the Company’s financial statements. There were no new accounting standard updates (“ASU”) issued by the Financial Accounting Standards Board’s (“FASB”) in addition to those discussed in our 2025 Annual Report that would have an impact to the Interim Financial Statements. Recently Adopted Accounting Standards ASU 2025-05—”Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets”. In July 2025, the FASB issued ASU 2025-05 to provide all entities with a practical expedient when estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under Topic 606. All entities may elect a practical expedient that assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset. The Company adopted ASU 2025-05 on a prospective basis effective January 1, 2026. The Company elected the practical expedient to estimate expected credit losses for current accounts receivables. The election of the practical expedient provided by this ASU did not have an impact to the Company’s consolidated financial statements upon adoption. Recently Issued Accounting Pronouncements ASU 2025-11—”Interim Reporting (Topic 270): Narrow-Scope Improvements.” In December 2025, the FASB issued ASU 2025-11 to clarify interim disclosure requirements. The objective of the amendments is to provide further clarity about the current interim disclosure requirements. This ASU is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027. Adoption of this ASU can be applied either using a prospective or a retrospective approach. Early adoption is permitted. The Company is currently evaluating the provisions of this ASU and does not expect this ASU to have a material impact on the Company’s consolidated financial statements. ASU 2026-01 — “Equity (Topic 505): Initial Measurement of Paid-in-Kind Dividends on Equity Classified Preferred Stock.” In April 2026, the FASB issued ASU 2026-01 to provide guidance on how an issuer should initially measure paid-in-kind (PIK) dividends on equity classified preferred stock. This ASU is effective for interim reporting periods within annual reporting periods beginning after December 15, 2026. Adoption of this ASU can be applied either using a prospective or a retrospective approach. Early adoption is permitted. The Company is currently evaluating the provisions of this ASU and does not expect this ASU to have a material impact on the Company’s consolidated financial statements. ASU 2026-02 — “Environmental Credits and Environmental Credit Obligations (Topic 818).” In May 2026, the FASB issued ASU 2026-02 to improve the financial accounting for and disclosure of environmental credits and environmental credit obligations. The objective of the amendment is to provide recognition, measurement, presentation, and disclosure requirements for all entities that generate, purchase or receive environmental credits or have a regulatory compliance obligation that may be settled with environmental credits. This ASU is effective for interim reporting periods with annual reporting periods beginning after December 15, 2027. Adoption of this ASU should be applied using a retrospective approach. Early adoption is permitted. The Company is currently evaluating the provisions of this ASU and does not expect this ASU to have a material impact on the Company’s consolidated financial statements. Concentrations— No customer accounted for 10% or more in revenues related to sales of life insurance policies for the three months ended June 30, 2026. One customer accounted for 26% of in revenues related to sales of life insurance policies for the three months ended June 30, 2025. One customer accounted for 11% (related party) in revenues related to sales of life insurance policies for the six months ended June 30, 2026. One customer accounted for 15% (related party) of total revenues related to the sales of life insurance policies for the six months ended June 30, 2025. Liquidity—The first redemption date for LMA Income Series II, LP (“LMAIS II”), a limited partnership that is a variable interest entity in which the Company has invested was March 31, 2026 at which point the investors of that entity had the option to (i) redeem their investment, (ii) extend their investment for an additional year, or (iii) invest into an Abacus managed fund launched in March 2025. The next redemption date for LMAIS II will be June 30, 2027 with the same options available to investors as the first redemption date. As of June 30, 2026, the related remaining liabilities are included within the current portion of long-term debt, at fair value within our consolidated balance sheet. If all investors were to elect to redeem their investment, the Company has determined it has sufficient liquidity available in the form of cash, credit available under the secured credit facility, and the ability to sell life settlement policies in an active market to repay the debt. Refer to Note 14, Long-Term Debt for additional information related to LMAIS II. Reclassifications—Certain prior period amounts in these Interim Financial Statements and condensed notes have been reclassified to conform to the current presentation for the three and six months ended June 30, 2026 and 2025 and for the year ended December 31, 2025.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2026

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

New Accounting Standards—The Company’s management reviews recent accounting standards to determine the impact to the Company’s financial statements. There were no new accounting standard updates (“ASU”) issued by the Financial Accounting Standards Board’s (“FASB”) in addition to those discussed in our 2025 Annual Report that would have an impact to the Interim Financial Statements.

Recently Adopted Accounting Standards

ASU 2025-05—”Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets”. In July 2025, the FASB issued ASU 2025-05 to provide all entities with a practical expedient when estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under Topic 606. All entities may elect a practical expedient that assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset. The Company adopted ASU 2025-05 on a prospective basis effective January 1, 2026. The Company elected the practical expedient to estimate expected credit losses for current accounts receivables. The election of the practical expedient provided by this ASU did not have an impact to the Company’s consolidated financial statements upon adoption.

Recently Issued Accounting Pronouncements

ASU 2025-11—”Interim Reporting (Topic 270): Narrow-Scope Improvements.” In December 2025, the FASB issued ASU 2025-11 to clarify interim disclosure requirements. The objective of the amendments is to provide further clarity about the current interim disclosure requirements. This ASU is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027. Adoption of this ASU can be applied either using a prospective or a retrospective approach. Early adoption is permitted. The Company is currently evaluating the provisions of this ASU and does not expect this ASU to have a material impact on the Company’s consolidated financial statements.

ASU 2026-01 — “Equity (Topic 505): Initial Measurement of Paid-in-Kind Dividends on Equity Classified Preferred Stock.” In April 2026, the FASB issued ASU 2026-01 to provide guidance on how an issuer should initially measure paid-in-kind (PIK) dividends on equity classified preferred stock. This ASU is effective for interim reporting periods within annual reporting periods beginning after December 15, 2026. Adoption of this ASU can be applied either using a prospective or a retrospective approach. Early adoption is permitted. The Company is currently evaluating the provisions of this ASU and does not expect this ASU to have a material impact on the Company’s consolidated financial statements.

ASU 2026-02 — “Environmental Credits and Environmental Credit Obligations (Topic 818).” In May 2026, the FASB issued ASU 2026-02 to improve the financial accounting for and disclosure of environmental credits and environmental credit obligations. The objective of the amendment is to provide recognition, measurement, presentation, and disclosure requirements for all entities that generate, purchase or receive environmental credits or have a regulatory compliance obligation that may be settled with environmental credits. This ASU is effective for interim reporting periods with annual reporting periods beginning after December 15, 2027. Adoption of this ASU should be applied using a retrospective approach. Early adoption is permitted. The Company is currently evaluating the provisions of this ASU and does not expect this ASU to have a material impact on the Company’s consolidated financial statements.

Concentrations— No customer accounted for 10% or more in revenues related to sales of life insurance policies for the three months ended June 30, 2026. One customer accounted for 26% of in revenues related to sales of life insurance policies for the three months ended June 30, 2025.

One customer accounted for 11% (related party) in revenues related to sales of life insurance policies for the six months ended June 30, 2026. One customer accounted for 15% (related party) of total revenues related to the sales of life insurance policies for the six months ended June 30, 2025.

Liquidity—The first redemption date for LMA Income Series II, LP (“LMAIS II”), a limited partnership that is a variable interest entity in which the Company has invested was March 31, 2026 at which point the investors of that entity had the option to (i) redeem their investment, (ii) extend their investment for an additional year, or (iii) invest into an Abacus managed fund launched in March 2025. The next redemption date for LMAIS II will be June 30, 2027 with the same options available to investors as the

first redemption date. As of June 30, 2026, the related remaining liabilities are included within the current portion of long-term debt, at fair value within our consolidated balance sheet. If all investors were to elect to redeem their investment, the Company has determined it has sufficient liquidity available in the form of cash, credit available under the secured credit facility, and the ability to sell life settlement policies in an active market to repay the debt. Refer to Note 14, Long-Term Debt for additional information related to LMAIS II.

Reclassifications—Certain prior period amounts in these Interim Financial Statements and condensed notes have been reclassified to conform to the current presentation for the three and six months ended June 30, 2026 and 2025 and for the year ended December 31, 2025.