ORLANDO, Fla., April 07, 2025 (GLOBE NEWSWIRE) -- Abacus Global Management (“Abacus” or the “Company”) (NASDAQ: ABL), a leader in the alternative asset management space, commented on the ongoing macro environment, noting that it remains well-positioned to capitalize on current market volatility, according to Chairman and Chief Executive Officer Jay Jackson. The Company’s unique business model provides it with clear strategic advantages in uncertain market conditions. In a recent earnings call, Mr. Jackson h ...

Core Insights - ABL Bio and GSK have entered into a multi-program agreement to develop novel medicines targeting neurodegenerative diseases using ABL Bio's Grabody-B platform technology, which facilitates drug delivery across the blood-brain barrier [1][2][3] - ABL Bio is set to receive up to £77 million in upfront and near-term payments, with potential total payments reaching £2.075 billion across various programs [3] Company Overview - ABL Bio is a clinical-stage biotech company focused on bispecific antibody technology for immuno-oncology and neurodegenerative diseases, with multiple clinical projects underway across different countries [5] - The company is developing several pipelines, including ABL301, ABL001 (tovecimig), ABL111 (givastomig), and others, with ABL001 having received Fast Track designation from the FDA [5] Industry Context - The blood-brain barrier (BBB) presents a significant challenge in developing treatments for neurological diseases, and ABL Bio's Grabody-B technology aims to overcome this limitation by targeting the Insulin-like Growth Factor 1 Receptor (IGF1R) [2] - There is a growing need for new therapeutics for neurodegenerative diseases, driven by an aging population and the increasing prevalence of conditions such as Alzheimer's and Parkinson's [4]

Group 1 - Abacus Life, Inc. (ABL) shares have increased by 2.6% over the past four weeks, closing at $7.87, with a mean price target of $13.88 indicating a potential upside of 76.4% [1] - The average price targets range from a low of $13 to a high of $15, with a standard deviation of $0.85, suggesting a consensus among analysts regarding the stock's potential [2] - Analysts have shown optimism about ABL's earnings prospects, with a positive trend in earnings estimate revisions correlating with potential stock price increases [4][10] Group 2 - The Zacks Consensus Estimate for ABL's current year earnings has increased by 3.4% over the last 30 days, indicating a positive outlook [11] - ABL holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates, suggesting strong potential for upside [12] - While price targets can be misleading, the direction indicated by the consensus price target for ABL appears to be a reliable guide for potential price movement [9][12]

Redesigning and repricing of products and services to maintain sales and profitability have been driving Zacks Life Insurance industry players. Increased automation is expected to drive premium growth and boost the efficiency of Aviva (AVVIY) , NN Group (NNGRY) , Jackson Financial (JXN) and Abacus Global Management (ABL) . However, with two rate cuts expected this year, life insurers will likely face challenges as they invest a large portion of their premiums to meet contractually guaranteed obligations of ...

Business Risks - The company's valuation of life insurance policies is uncertain, as many values are tied to actual maturity dates, which could adversely impact business performance [81]. - The company faces risks in accurately forecasting life expectancies, which may lead to lower returns on life settlement policies if people live longer than expected [90]. - The availability of life insurance policies for acquisition is limited, and failure to secure sufficient quality policies could materially affect the company's business [95]. - Increased competition from life insurance companies and brokers offering enhanced cash surrender values may adversely impact the company's ability to acquire policies [97]. - The company assumes credit risk associated with life insurance companies, which could affect the realization of full value from insurance payouts [84]. - The company may not realize anticipated benefits from recent acquisitions, which could negatively impact business results and stock value [84]. - The life settlement industry faces negative public perception and political opposition, which could adversely affect the Company's investments and liquidity [99]. - There is a risk of fraud in the origination and sale of life insurance policies, which could significantly impact the Company's returns and overall business [103]. - The Company may be subject to claims from life insurance companies and regulatory authorities, which could have a material adverse impact on its operations [104]. - Changes in legislation could classify life settlements as securities, leading to increased regulatory burdens and potential limitations on the Company's investment strategies [107]. - The Company may face challenges in liquidating life insurance policies due to market conditions and uncertainties surrounding their liquidation value [131]. - The Company may face litigation or claims related to acquisitions, which could adversely affect its business and financial results [174]. Regulatory and Compliance Risks - The company is subject to significant foreign currency risk due to operations conducted in currencies other than the U.S. dollar [84]. - The company's business may be affected by potential future regulations regarding life settlements, which could impose additional compliance burdens [82]. - The Company is subject to U.S. privacy laws, and non-compliance could result in fines, sanctions, and reputational harm [118]. - The Company collects nonpublic personal information (NPI) and protected health information (PHI), and must comply with regulations such as the Gramm-Leach Bliley Act (GLBA) and HIPAA [119][120]. - The SEC has recommended defining life settlements as securities, which could lead to significant regulatory changes affecting the Company's business model [109]. - The Company may need to register as an investment company under the Investment Company Act, which would require substantial changes to its business operations [113]. - The Company is subject to the EU General Data Protection Regulation (GDPR), and non-compliance could result in significant penalties affecting its financial condition [167]. - The Company's business is subject to increasing regulatory oversight outside the U.S., which could lead to higher compliance costs and impact its growth [169]. Financial Performance and Capital Structure - The Company has not paid cash dividends in the past and does not expect to do so in the foreseeable future, limiting returns to stock price increases [88]. - The company's stock price has been volatile and may continue to fluctuate widely due to various factors beyond its control [88]. - The Company may require additional financing to support its business, and failure to secure adequate funds could harm its growth opportunities [148]. - The company had outstanding indebtedness of approximately $381 million as of December 31, 2024, including $100 million under its Senior Secured Credit Facility [193]. - The company has a committed Delayed Draw Facility with up to $50 million available to be drawn subject to certain conditions [193]. - The company may issue additional securities, which could result in substantial dilution to existing stockholders [181]. - The company expects to incur additional indebtedness in the future, which may affect its financial and operational flexibility [193]. Operational Risks - The Company relies on third-party data for tracking life settlement policies, and failures in these systems could lead to financial losses and operational disruptions [102]. - The Company must ensure timely premium payments on life insurance policies to avoid lapses, which would adversely affect its investments [127]. - The Company has policies in place to identify potential STOLI policies, but there is no guarantee that all such policies will be identified [125]. - The Company’s success is dependent on retaining experienced management and key employees, with competition for talent being intense [135]. - Integration of the acquired companies may lead to the loss of key employees and customers, as well as increased costs and delays in achieving anticipated synergies [161]. - Disruption to the Company's distribution channels may lead to a decline in assets under management (AUM), revenue, and earnings [170]. Market and Economic Risks - Pandemics, rising interest rates, and inflation may disrupt the Company's ability to originate life settlement policies, adversely impacting its financial position [142]. - The company's financial performance and stock price may be influenced by fluctuations in market conditions and investor sentiment [185]. - The company’s stock repurchase program may not enhance long-term stockholder value and could increase stock price volatility [176]. - The company has entered into lock-up agreements that restrict certain stockholders from selling shares until specific dates [179]. Internal Controls and Governance - The Company must maintain effective internal controls over financial reporting to prevent errors and ensure reliable financial reports [144]. - The Company has irrevocably elected to opt out of the extended transition period under the JOBS Act [360]. - As an emerging growth company, the Company will adopt new or revised accounting standards at the same time as public companies [361]. - Following the Business Combination, the Company will comply with new or revised accounting standards on the relevant dates required for non-emerging growth companies [361].

Financial Data and Key Metrics Changes - For Q4 2024, total revenue grew by 40% year over year to $33.2 million, with adjusted net income increasing by 126% to $13.4 million and adjusted EBITDA rising by 51% to $16.6 million [9][10][24] - For the full year 2024, total revenue increased by 69% to $111.9 million, adjusted net income grew by 58% to $46.5 million, and adjusted EBITDA rose by 57% to $61.6 million [10][24][29] - Adjusted EBITDA margin for Q4 was 50%, compared to 47% in the prior year, while for the full year, it was 55%, down from 59% [27][29] Business Line Data and Key Metrics Changes - The company completed two strategic acquisitions, Carlisle Management Company and FCF Advisors, adding approximately $2.6 billion in assets under management [12][13] - Policy originations increased by 63% to 1,034 in 2024, with capital deployed exceeding $344 million [10][19] Market Data and Key Metrics Changes - The company reported a strong liquidity position with cash and cash equivalents of $128.8 million and outstanding long-term debt of $342.4 million as of December 31, 2024 [28] - The company anticipates a strong 2025, projecting adjusted net income between $70 million and $78 million, implying growth of 51% to 68% [11][29] Company Strategy and Development Direction - The company aims to solidify its position as a leader in the alternative asset management space, leveraging proprietary technology and data to capture market opportunities [21][32] - The rebranding to Abacus Global Management reflects the company's evolution and global market presence, enhancing its offerings to institutional investors [16][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth opportunities ahead, citing a favorable market environment for both policy origination and investor interest in unique assets [66][72] - The company is well-positioned for 2025, with a focus on integrating acquisitions and expanding its asset management capabilities [19][29] Other Important Information - The company raised $181.7 million in additional equity and secured a $150 million debt-financing facility to support growth initiatives [19][20] - The company has initiated a new ETF, the Abacus FCF Small Cap Leaders ETF, and reduced management fees across its ETFs [15][19] Q&A Session Summary Question: Key swing factors in guidance assumptions - Management clarified that the guidance range does not depend on a full draw of the remaining $50 million on the revolver, emphasizing strong origination and integration of asset management [34][36] Question: Update on direct channel metrics post-advertising shift - Management confirmed that advertising was not paused but targeted to non-swing states, resulting in continued positive impacts on policy origination [37][39] Question: Deployment of capital from recent equity and debt offerings - Management indicated significant deployment of capital in Q4 and a strong position for Q1, with expectations for continued positive results [42][44] Question: Strategy for holding policies on the balance sheet - Management stated that policies on the balance sheet are expected to hover around $370 million to $450 million, with a target of two turns per year on average [50][52] Question: Update on the carrier buyback program - Management reported ongoing expansion of the carrier buyback program and positive expectations for 2025 [57][60] Question: Changes in behavior of individuals life settling policies - Management noted that market volatility tends to increase interest in liquidity options, positively impacting origination [61][66] Question: Year-end AUM at Carlisle and FCF - Management expressed optimism about AUM growth for both entities, citing strong interest and favorable market conditions [69][72]

Core Insights - Abacus Life, Inc. reported quarterly earnings of $0.16 per share, exceeding the Zacks Consensus Estimate of $0.13 per share, and showing an improvement from a loss of $0.10 per share a year ago, resulting in an earnings surprise of 23.08% [1] - The company achieved revenues of $33.21 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 15.67%, compared to $23.65 million in the same quarter last year [2] - Abacus Life, Inc. has outperformed consensus EPS estimates three times over the last four quarters [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.14 on revenues of $35.85 million, and for the current fiscal year, it is $0.73 on revenues of $187.92 million [7] - The estimate revisions trend for Abacus Life, Inc. is mixed, leading to a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Insurance - Life Insurance industry, to which Abacus Life, Inc. belongs, is currently ranked in the top 26% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Financial Data and Key Metrics Changes - For Q4 2024, total revenue increased by 40% year-over-year to $33.2 million, with adjusted net income growing by 126% to $13.4 million and adjusted EBITDA rising by 51% to $16.6 million [10][28][29] - For the full year 2024, total revenue rose by 69% to $111.9 million, adjusted net income increased by 58% to $46.5 million, and adjusted EBITDA grew by 57% to $61.6 million [11][26][29] Business Line Data and Key Metrics Changes - Policy originations increased by 63% to 1,034 in 2024, with capital deployed exceeding $344 million [12] - Active management revenue was a significant driver of revenue growth, attributed to increased capital deployment and more policies sold directly to third parties [26][27] Market Data and Key Metrics Changes - The company successfully completed acquisitions that added approximately $2.6 billion in assets under management, enhancing its market reach and capabilities [14][15] - The company reported a strong liquidity position with cash and cash equivalents of $128.8 million as of December 31, 2024 [31] Company Strategy and Development Direction - The company aims to revolutionize financial services through expert asset management and advanced technology, focusing on providing tailored financial solutions [18][17] - The rebranding to Abacus Global Management reflects the company's evolution and global market presence, with a commitment to maintaining momentum in the alternative asset management space [17][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a full-year 2025 adjusted net income between $70 million and $78 million, indicating growth of 51% to 68% compared to 2024 [13][32] - The management highlighted the positive impact of market volatility on origination interest, as individuals seek liquidity and investors look for unique assets [68][71] Other Important Information - The company announced management fee reductions across all ETFs and an 18-month fee waiver on four ETFs to enhance competitiveness [17] - The company has initiated a strategy to simplify its capital structure, including private warrant exchange agreements [22] Q&A Session Summary Question: Key swing factors and assumptions for guidance range - Management clarified that the guidance range does not depend on the full draw of the $50 million revolver, emphasizing strong origination as a key driver [38] Question: Update on direct channel metrics post-advertising adjustments - Management confirmed that advertising was not paused but targeted to non-swing states, resulting in positive impacts on policy origination [42][43] Question: Deployment of capital from recent equity and debt offerings - Management indicated that a significant amount of capital was deployed successfully, with a strong cash position remaining at year-end [48] Question: Strategy for holding policies on the balance sheet - Management stated that policies on the balance sheet are expected to hover around $370 million to $450 million as policies are bought and sold [56] Question: Update on the carrier buyback program - Management reported continued expansion of the carrier buyback program, anticipating growth in 2025 [62] Question: Changes in behavior of individuals life-settling policies - Management noted that market volatility tends to increase interest in liquidity options, positively impacting origination [68][71] Question: Year-end AUM at Carlisle and FCF - Management expressed optimism about the growth of AUM from the acquisitions, with significant interest in new offerings [76][78]

Core Insights - Abacus Global Management reported record full-year revenue growth of 69% to $111.9 million for 2024, driven by increased active management revenue and policy originations [4][14] - The company achieved a fourth-quarter revenue increase of 40% year-over-year to $33.2 million, with policy originations growing by 63% to 1,034 for the full year [5][14] - Abacus is initiating its 2025 outlook for adjusted net income between $70 million and $78 million, representing growth of 51% to 68% compared to 2024 [7] Financial Performance - Full-year 2024 adjusted net income increased by 58% to $46.5 million, compared to $29.4 million in 2023 [14] - Adjusted EBITDA for 2024 grew 57% to $61.6 million, with an adjusted EBITDA margin of 55% [14][28] - The company reported a GAAP net loss attributable to shareholders of $24.0 million for 2024, compared to a net income of $9.5 million in the prior year [14] Operational Highlights - The company completed two strategic acquisitions and strengthened its executive team through key hires, enhancing its market capabilities [2] - As of December 31, 2024, Abacus had cash and cash equivalents of $128.8 million and total assets of $874.2 million [6][22] - The company successfully raised substantial equity capital and secured significant debt financing to optimize its capital structure [2] Market Position and Strategy - Abacus rebranded to better reflect its evolution and global market presence, indicating a strategic shift towards a broader market opportunity [2] - The company is well-positioned to capitalize on its momentum and drive long-term growth, with expectations of over 50% growth in adjusted net income for 2025 [2][7]

Core Points - KLX Energy Services Holdings, Inc. has successfully refinanced its existing 2025 senior secured notes by issuing approximately $232 million of new senior secured notes due March 2030 along with warrants for common stock purchase [1] - The company has also established a new ABL credit facility due March 2028 with a commitment of $125 million, a first-in-last-out facility with a $10 million commitment, and an incremental loan option of $25 million [1] Company Overview - KLX is a growth-oriented provider of diversified oilfield services catering to leading onshore oil and natural gas exploration and production companies across both conventional and unconventional plays in major basins throughout the United States [2] - The company offers mission-critical oilfield services focused on drilling, completion, production, and intervention activities for technically demanding wells, supported by over 50 service and support facilities across the United States [2] - KLX's suite of proprietary products and specialized services is backed by technically skilled personnel and a broad portfolio of innovative in-house manufacturing, repair, and maintenance capabilities [2]