Abacus Global Management (ABX) investor relations material

Executive summary

• Raised full-year 2026 adjusted net income guidance to $100M–$106M ($1.00–$1.05 adjusted EPS), reflecting strong business momentum and visibility into capital inflows, with Q2 guidance of $24M–$26M.

• Q1 2026 revenue grew 34.6%–35% year-over-year to $59.4M, driven by Life Solutions and asset management, with adjusted net income up 17% to $20.1M and adjusted EBITDA up 33% to $32.7M (55% margin).

• Operating cash flow improved to $91.7M from a negative $61.6M in Q1 2025, demonstrating strong cash generation.

• Significant capital inflows into longevity funds ($288M–$378M in Q1), with AUM nearly quadrupling year-over-year to ~$1B and gross AUM reaching $3.6B.

• Returned 100% of capital to LMA Income II fund investors at term end, reducing debt by ~$76M, with high reinvestment rates and improved leverage ratios.

Financial highlights

• Q1 2026 total revenue was $59.4M, up 34.6%–35% YoY, with Life Solutions contributing $50.6M and asset management fees $8.5M.

• Adjusted net income rose 16.6%–17% to $20.1M; adjusted EBITDA increased 33% to $32.7M (55% margin).

• GAAP net income attributable was $7.3M ($0.07 per diluted share), up 56%–59% year-over-year.

• Operating cash flow was $91.7M, a $153M swing from -$61.6M in Q1 2025.

• Balance sheet policy assets at $392.8M; cash of $37.2M; long-term debt reduced to ~$328M–$330M.

Outlook and guidance

• Full-year 2026 adjusted net income guidance raised to $100M–$106M; adjusted EPS $1.00–$1.05.

• Q2 2026 adjusted net income expected at $24M–$26M ($0.24–$0.26 adjusted EPS).

• Back half of the year expected to be strongest, following historical seasonality.

• Targeting a second securitization in late Q2 or early Q3, which could be incremental to $500M first-half inflow expectation.