ABX · Abacus Global Management, Inc.

Abacus delivered strong first-quarter 2026 results driven by growth in its core longevity-based asset management business: revenue increased 35% YoY to $59.4M, primarily fueled by Life Solutions expansion, while adjusted net income rose 17% to $20.1M and adjusted EBITDA grew 33.3% to $32.7M — maintaining a robust 55.0% margin despite scale. The company deployed $163.6M in origination capital and generated $91.7M in operating cash flow — a dramatic reversal from negative $61.6M YoY — underscoring the platform’s improving cash conversion as Longevity Income Funds AUM scaled nearly 4x to ~$1B. Management attributed performance to structural advantages: mortality-driven assets uncorrelated to credit/equity cycles, disciplined origination (26% average realized gain vs. 20% target), and successful capital recycling, exemplified by the full return of investor capital in LMA Income II Fund with two-thirds recommitting. The raised full-year adjusted net income guidance ($100–$106M, up to 24% YoY) reflects confidence in continued institutional demand and execution on strategic initiatives, including the $53M investment in Manning & Napier — designed to accelerate distribution and joint product development across complementary wealth and longevity platforms. Leadership reshuffling signals operational maturation, with expanded executive roles aligning with growth priorities. While forward-looking statements caution against undue reliance due to macroeconomic and regulatory risks, the consistency of delivery — highlighted by CEO Jay Jackson’s emphasis on 'doing what we say we will do' — reinforces credibility around near-term targets and long-term positioning in an increasingly sought-after asset class.