Regulatory and Compliance Risks - The company is subject to regulatory risks, including potential changes in laws that could impose additional burdens on its operations [84]. - The Company is exposed to regulatory risks related to life settlements, which may be classified as securities, potentially leading to increased compliance costs and operational limitations [140]. - The Company must comply with various U.S. privacy laws, and failure to do so could result in regulatory actions, fines, and reputational harm [147]. - The Company is subject to the EU General Data Protection Regulation (GDPR), which imposes complex compliance requirements that could be costly [133]. - The Company may face increased operating costs and restrictions due to the Luxembourg and EU regulatory frameworks affecting investment advisors [134]. - The Company is currently licensed and operating in 49 states, which may be subject to increased regulation that could restrict its business operations [157]. - Changes in tax laws or regulations could negatively impact the Company's cash flows and results of operations, potentially imposing new costs or restrictions [155]. - The Company has implemented various policies to comply with data privacy and security laws, but failure to comply could lead to government enforcement actions and additional costs [151]. Financial 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 operations [88]. - The company may fail to accurately forecast life expectancies, which could lead to lower returns on life settlement policies due to people living longer [91]. - The company bears credit risk associated with life insurance companies, which may affect the realization of full value from insurance payouts [85]. - The Company has approximately $406 million in outstanding indebtedness as of December 31, 2025, including $149 million under its Senior Secured Credit Facility [123]. - The Company may incur additional indebtedness in the future, which could affect its financial and operational flexibility [123]. - The Company must ensure timely premium payments on life insurance policies to avoid lapses, which would result in investment losses [108][109]. - The Company bears credit risk associated with life insurance companies, and their insolvency could adversely affect the Company's profits [115][116]. - The Company may not be able to liquidate its life insurance policies when needed, impacting cash flow and liquidity [113][114]. - The Company has faced challenges in certifying the effectiveness of its internal controls, which could lead to misstatements in its consolidated financial statements and regulatory scrutiny [127]. - The Company has primarily funded its operations through the origination and management of life settlement policies, but it cannot guarantee sufficient cash flow for ongoing operations or growth [128]. - The Company intends to continue making investments to support its business but may require additional funds, which may not be available on favorable terms [129]. - The Company is subject to audits in various jurisdictions, which could result in additional tax assessments and impact cash flows [156]. Market and Competitive Risks - The company faces increased competition from life insurance companies and investment funds, which could limit access to quality life insurance policies [97]. - The life insurance policy secondary market has grown, but its future development is uncertain, potentially affecting the company's ability to secure policies [95]. - The company may experience challenges due to negative public perception and political opposition towards the life settlement industry, impacting investment value and liquidity [99]. - Events outside the Company's control, such as geopolitical tensions and economic instability, may disrupt its ability to generate life settlement policies on acceptable terms [139]. - The market price of the Company's Common Stock has been volatile and may continue to fluctuate due to various factors beyond its control [163]. - The Company may experience significant risks associated with investments in life insurance policies, which could lead to higher volatility and potential losses [166]. Operational Risks - The Company relies on medical underwriting firms for life expectancy estimates, which are inherently uncertain and could lead to valuation discrepancies [94]. - The Company faces risks related to the accuracy and reliability of third-party data used for tracking life settlement policies, which could adversely impact revenues [101]. - There is a risk of fraud in the origination and sale of life insurance policies, which could negatively affect investment returns [102]. - The Company may be subject to claims from life insurance companies or regulatory authorities, which could materially impact its business [103]. - The Company relies on data processing systems to manage sensitive information, and any breaches could lead to financial loss and reputational damage [105]. - The Company must maintain effective internal controls over financial reporting to prevent errors and ensure reliable financial reports [125][126]. Shareholder and Stock Risks - The Company has broad discretion to issue up to 200 million shares of Common Stock and 1 million shares of Preferred Stock, which could lead to substantial dilution for existing stockholders [160]. - The Company's stock repurchase program may not enhance long-term stockholder value and could increase stock price volatility [158]. - The Company may be exposed to additional risks if it issues debt securities, which could restrict operations and adversely affect stock price [161]. Litigation Risks - Recent acquisitions have led to litigation and claims that could adversely affect the Company's business and financial results [136]. - The Company may face material adverse effects from lawsuits questioning the insurable interest in life insurance policies, which could impact its business [152].

Financial Data and Key Metrics Changes - Abacus Global Management reported total revenue growth of 116% in Q4 2025, reaching $71.9 million compared to $33.2 million in the prior year [31] - For the full year 2025, revenue increased by 110% to $235.2 million from $111.9 million in the previous year [31] - Adjusted net income for Q4 2025 grew 71% to $23 million, up from $13.4 million in the prior year [32] - Adjusted EBITDA for Q4 2025 increased by 132% to $38.6 million, with an adjusted EBITDA margin of 54% [33] - Full year adjusted EBITDA rose 115% to $132.6 million, maintaining a margin of 56% [34] - The company initiated its full year 2026 outlook for adjusted net income between $96 million and $104 million, implying up to 22% growth compared to 2025 [36] Business Line Data and Key Metrics Changes - The Life Solutions segment continues to drive revenue growth, with significant contributions to overall performance [31] - In Q4 2025, capital deployed increased by 82% to $230.7 million, compared to $126.5 million in the prior year [30] - The asset management segment generated nearly $34 million in management fees in 2025, with over $3 billion in fee-paying AUM [11][28] Market Data and Key Metrics Changes - The company noted a robust demand for longevity-linked and asset-backed strategies, driven by institutional allocators seeking uncorrelated return streams [21] - Abacus paid nearly a quarter of a billion dollars to policyholders in 2025, highlighting the liquidity provided to policyholders during market uncertainty [8] Company Strategy and Development Direction - Abacus aims to grow its fee-paying AUM to over $5 billion by the end of 2026, with a long-term target of $50 billion by 2030 [28] - The company is focused on building a recurring revenue model, targeting 70% of total revenue from recurring sources over the next five years [29] - The recent acquisition of a minority position in Manning & Napier is expected to create synergies across wealth management and life insurance [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business model and execution, citing 11 consecutive quarters of outperformance [5][38] - The current market environment is seen as favorable for Abacus, with a focus on educating the investment community about the company's value proposition [39] - The company is committed to maximizing long-term shareholder value through disciplined capital allocation and strategic growth initiatives [17][18] Other Important Information - The company has a strong balance sheet with cash and cash equivalents of $38.1 million and outstanding long-term debt of $405.8 million as of December 31, 2025 [36] - Abacus is leveraging proprietary mortality data to enhance its underwriting and asset management capabilities, positioning itself as a valuable data provider in the industry [7][12] Q&A Session Summary Question: Can you expand on how the investor demand side has evolved since the last quarter? - Management noted that demand has continued to increase, particularly in light of recent market volatility, which has created more opportunities for securitization [44][45] Question: Is it fair to assume the next securitization could be larger than the first one? - Management confirmed that the goal is to target a larger securitization, potentially exceeding $100 million based on current demand [46][48] Question: What is the pipeline like for potential acquisitions? - Management indicated that there are ongoing discussions for strategic acquisitions that would create synergies, emphasizing a patient and diligent approach [77]

Financial Data and Key Metrics Changes - In Q4 2025, total revenue grew 116% to $71.9 million compared to $33.2 million in the prior year period, driven by strong performance in Life Solutions and higher Asset Management fees [31] - For the full year 2025, revenue increased 110% to $235.2 million compared to $111.9 million in the prior year [31] - Adjusted net income for Q4 2025 grew 71% to $23 million compared to $13.4 million in the prior year [32] - Adjusted EBITDA for Q4 2025 grew 132% to $38.6 million compared to $16.6 million in the prior year, with an adjusted EBITDA margin of 54% [33] - For the full year 2025, adjusted EBITDA increased 115% to $132.6 million compared to $61.6 million for the prior year, with an adjusted EBITDA margin of 56% [34] Business Line Data and Key Metrics Changes - The Life Solutions segment continues to generate impressive revenue growth, contributing significantly to overall revenue increases [31] - The Asset Management segment generated nearly $34 million in management fees in 2025, with over $3 billion in fee-paying AUM [11][31] - The technology services business also contributed to revenue growth, with the flagship product MVerify achieving 4x growth and tracking nearly 3 million lives [12] Market Data and Key Metrics Changes - The company reported a robust capital deployment of $230.7 million in Q4 2025, bringing full year deployment to $580.8 million, up 82% year-over-year [24][30] - The origination platform reviewed more than 10,000 qualified policies during the year, maintaining a close rate of 12% [24] Company Strategy and Development Direction - The company aims to grow recurring revenue from approximately 16% of total revenue today to 70% over the next five years, focusing on building a fee-related earnings base [29] - The strategic acquisition of a minority position in Manning & Napier is expected to create synergies across wealth management and life insurance [14][15] - The company is focused on expanding its asset-based finance strategy, which is projected to be a critical part of AUM expansion [25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business model and execution, highlighting 11 consecutive quarters of outperformance [5][38] - The company initiated its full year 2026 outlook for adjusted net income to be between $96 million and $104 million, implying growth of up to 22% compared to 2025 [36] - Management noted that the current market environment plays to the company's strengths, with increasing demand for longevity-linked assets [38] Other Important Information - The company has a disciplined capital allocation strategy, with a focus on maximizing long-term shareholder value through share repurchases and dividends [17] - The company launched its inaugural securitization in October, aimed at educating institutions about the asset class [19] Q&A Session Summary Question: Expectations for future securitization size and frequency - Management indicated that demand for securitization has increased and they are targeting a potentially larger securitization than the initial $50 million [44][46] Question: Capital needs and equity issuance - Management stated there is no intent to issue equity for policy purchases, as organic capital generation is sufficient to meet growth needs [51][52] Question: Capital deployment and revenue growth - Management clarified that the capital deployed in Q4 was successful, with a significant portion allocated to ETFs, which typically have lower management fees [56][57] Question: Growth targets and acquisition strategy - Management emphasized that growth will be driven by both organic and acquisition strategies, including the recent investment in Manning & Napier [66][67] Question: Value provided by ABL Tech to various markets - Management explained that ABL Tech offers valuable mortality verification data to pension funds and insurance companies, enhancing their operational efficiency [87]

Financial Data and Key Metrics Changes - In Q4 2025, total revenue grew 116% to $71.9 million compared to $33.2 million in the prior year period, driven by strong performance in Life Solutions and higher asset management fees [32] - For the full year 2025, revenue increased 110% to $235.2 million compared to $111.9 million in the prior year [32] - Adjusted net income for Q4 2025 grew 71% to $23 million compared to $13.4 million in the prior year [33] - Adjusted EBITDA for Q4 grew 132% to $38.6 million compared to $16.6 million in the prior year, with an adjusted EBITDA margin of 54% [34] - For the full year 2025, adjusted EBITDA increased 115% to $132.6 million compared to $61.6 million for the prior year [34] - The company initiated its full year 2026 outlook for adjusted net income to be between $96 million and $104 million, implying growth of up to 22% compared to full year 2025 [36] Business Line Data and Key Metrics Changes - The Life Solutions segment continues to generate impressive revenue growth, contributing significantly to overall revenue increases [32] - The asset management segment generated nearly $34 million in management fees in 2025, with over $3 billion in fee-paying AUM [11][29] - The technology services business also contributed to revenue growth, with the flagship product MVerify achieving 4x growth [12] Market Data and Key Metrics Changes - The company reported a robust capital deployment of $230.7 million in Q4 2025, up 82% year-over-year, bringing full year deployment to $580.8 million [25][31] - The origination platform reviewed more than 10,000 qualified policies during the year, maintaining a close rate of 12% [25] Company Strategy and Development Direction - The company aims to grow its recurring revenue from approximately 16% of total revenue today to 70% over the next five years, focusing on building a fee-related earnings base [30] - The strategy is built on four integrated verticals: Life Solutions, Asset Group, Data and Technology, and Wealth Advisors, creating a comprehensive ecosystem [9][10][14] - The recent acquisition of a minority position in Manning & Napier is expected to create synergies across wealth management and life insurance [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business model and execution, highlighting 11 consecutive quarters of outperformance [4][38] - The current market environment is seen as favorable, with increasing demand for longevity-linked and asset-backed strategies [22] - The company recognizes the disconnect between its fundamentals and current valuation, viewing it as an opportunity for growth [38] Other Important Information - The company has a disciplined capital allocation strategy, with a focus on maximizing long-term shareholder value through share repurchases and dividends [18] - The securitization strategy is expected to create additional financing and distribution channels, enhancing capital efficiency [19] Q&A Session Summary Question: Investor demand for securitization - Management noted that demand for securitization has increased, with expectations for a larger offering in the first half of 2026 [42][44] Question: Capital needs and equity issuance - Management confirmed no intent to issue equity for policy purchases, citing strong organic capital generation [50] Question: Capital deployment and revenue growth - Management explained that capital deployed in Q4 was successful, with a focus on maximizing returns through strategic policy management [55] Question: ABL Tech's value proposition - Management highlighted the value of proprietary mortality data for pension funds and insurance companies, emphasizing the accuracy and speed of their data services [87][88]

1 Disclaimer General. This presentation (this "Presentation") is provided solely for informational purposes. This Presentation is subject to update, completion, revision, verification and further amendment without notice. None of Abacus Global Management, Inc. (the "Company", "Abacus", Abacus Global Management", "we", "our", or "us") or its affiliates has authorized anyone to provide interested parties with additional or different information. The information contained herein does not purport to be all incl ...

Financial Performance - Fourth quarter 2025 total revenue increased by 116% to $71.9 million, compared to $33.2 million in the prior-year period[5] - Full year 2025 total revenues grew by 110% to $235.2 million, compared to $111.9 million in the prior year[8] - GAAP net income for the full year 2025 was $36.5 million, compared to a net GAAP loss of $23.9 million in the prior year[8] - Adjusted net income for the full year 2025 increased by 84% to $85.7 million, compared to $46.5 million in the prior year[8] - Adjusted EBITDA for the fourth quarter of 2025 increased by 132% to $38.6 million, with an adjusted EBITDA margin of 54%[5] - Operating income for the year ended December 31, 2025, was $88.76 million, a significant improvement from an operating loss of $0.89 million in 2024[28] - Adjusted EBITDA for the year ended December 31, 2025, reached $132,553,833, up from $61,592,431 in 2024, reflecting a strong growth trajectory[31] - The adjusted net income for the year ended December 31, 2025, was $85,660,633, compared to $46,521,713 in 2024, representing an increase of 84%[32] - The adjusted EBITDA margin for the year ended December 31, 2025, was 56%, compared to 55% in 2024, indicating stable profitability[31] Growth Metrics - The company initiated its full year 2026 outlook for adjusted net income to be between $96 million and $104 million, implying growth of up to 22% compared to full year 2025[10] - Annualized return on equity (ROE) for the fourth quarter of 2025 was 22%, compared to 13% in the prior year[8] - Annualized return on invested capital (ROIC) for the fourth quarter of 2025 was 21%, compared to 11% in the prior year[8] - The adjusted annualized return on invested capital (ROIC) improved to 20% for the year ended December 31, 2025, compared to 15% in 2024[32] - The adjusted annualized return on equity (ROE) for the three months ended December 31, 2025, was 22%, up from 13% in the same period of 2024[34] Revenue and Profitability - Total revenues for the year ended December 31, 2025, reached $235.24 million, a significant increase from $111.92 million in 2024, representing a growth of approximately 110%[28] - Gross profit for the year ended December 31, 2025, was $206.38 million, compared to $100.55 million in 2024, indicating a growth of about 105%[28] - The company reported a significant increase in life solutions revenue, which rose to $163.17 million in 2025 from $104.96 million in 2024, marking a growth of approximately 55%[28] - Earnings per share (diluted) for the year ended December 31, 2025, was $0.36, compared to a loss of $0.34 in 2024[28] - The adjusted earnings per share (EPS) for the three months ended December 31, 2025, was $0.24, compared to $0.16 in 2024, reflecting a 50% increase[29] Asset and Liability Management - Current liabilities increased to $148.59 million in 2025 from $62.47 million in 2024, reflecting a rise of about 138%[27] - Cash and cash equivalents decreased to $38.11 million in 2025 from $131.94 million in 2024, a decline of approximately 71%[27] - The total assets of the company increased to $902.24 million in 2025, up from $874.16 million in 2024, representing a growth of about 3%[27] - The company’s long-term debt increased to $275.78 million in 2025 from $224.74 million in 2024, an increase of approximately 23%[27] - Total assets as of December 31, 2025, were $902,240,258, an increase from $874,164,752 in 2024[32] Strategic Initiatives - The company completed a strategic acquisition of AccuQuote to enhance its financial services capabilities[8] - Originations capital deployment for the full year 2025 was $580.8 million, an increase of 53% from the prior year[8] - Stock-based compensation for the three months ended December 31, 2025, was $5,149,800, down from $24,760,007 in the same period of 2024, suggesting improved cost management[31] Quarterly Performance - For the three months ended December 31, 2025, Abacus Global Management reported a net income of $7,226,649, a significant improvement compared to a net loss of $(19,009,504) for the same period in 2024[29]

Core Viewpoint - The Schall Law Firm is investigating claims against Abacus Global Management, Inc. for potential violations of securities laws, focusing on misleading statements and undisclosed information [1][2]. Group 1: Investigation Details - The investigation centers on whether Abacus issued false or misleading statements and failed to disclose critical information to investors [2]. - A report by Morpheus Research dated June 4, 2025, claims that Abacus, valued at $794 million, altered its portfolio valuation methodology to present a more favorable financial picture [2]. - The report also suggests that Abacus employs unusual methods for calculating life expectancy estimates and highlights past concerns regarding its co-founders [2]. Group 2: Legal Representation - The Schall Law Firm invites shareholders who have experienced losses to participate in the investigation and offers free consultations regarding their rights [3]. - The firm specializes in securities class action lawsuits and shareholder rights litigation, representing investors globally [3].

Core Viewpoint - Abacus Global Management, Inc. is making strategic moves to enhance shareholder value, including a transition of its stock listing from Nasdaq to NYSE and an increase in price target by Piper Sandler, indicating potential growth for investors [1][2][5]. Group 1: Stock Performance and Ratings - Piper Sandler maintains an "Overweight" rating for Abacus Global Management, raising the price target from $9 to $11, while the current stock price is $8.50, suggesting potential growth [1][5]. - The current stock price of ABL is $8.49, reflecting a slight decrease of 0.18% with a change of $0.015, and has fluctuated between $8.38 and $8.7 today [4]. Group 2: Stock Listing Transition - Abacus is transitioning its Class A common stock listing from Nasdaq to the New York Stock Exchange (NYSE), with trading expected to start on December 30, 2025, under the new ticker "ABX" [2][5]. - The company's 9.875% Fixed Rate Senior Notes will also move to the NYSE, expected to trade under the symbol "ABXL" starting December 30, 2025, as part of a broader strategy to increase market presence [3][5]. Group 3: Market Capitalization and Trading Volume - Abacus Global Management has a market capitalization of approximately $830.41 million and a trading volume of 436,740 shares on Nasdaq [4]. - Over the past year, ABL has seen a high of $9.61 and a low of $4.6, indicating significant volatility in its stock performance [4].

Core Viewpoint - Abacus Global Management, Inc. is transferring its listing from Nasdaq to the New York Stock Exchange, which is expected to enhance shareholder value and leverage the NYSE's advantages for growth [1][3]. Group 1: Listing Transfer Details - The transfer of Abacus' Class A common stock to the NYSE is anticipated to begin trading on or about December 30, 2025, under the new ticker symbol "ABX" [1]. - The Company's 9.875% Fixed Rate Senior Notes due 2028 will also transfer to the NYSE, starting to trade under the new ticker symbol "ABXL" on or about December 30, 2025 [2]. Group 2: Strategic Rationale - The decision to move to the NYSE is described as a strategic move aimed at creating long-term shareholder value, supported by the NYSE's global reach, strong institutional investor base, and deep market liquidity [3]. - The NYSE platform is expected to provide an exceptional foundation for Abacus' continued growth and innovation in the alternative asset management space [3]. Group 3: Company Overview - Abacus Global Management specializes in alternative asset management, data-driven wealth solutions, technology innovations, and institutional services, focusing on longevity-based assets and personalized financial planning [4].

Summary of Abacus Global Management Conference Call Company Overview - **Company Name**: Abacus Global Management (NasdaqCM: ABL) - **Industry**: Asset Management focused on life insurance assets - **History**: Over 20 years of operation, public for 10 quarters Key Financial Metrics - **Q1 Revenue Growth**: Year-over-year growth of over 100% in revenue [4] - **Adjusted Net Income Guidance**: Targeting approximately 80% year-over-year growth [4] - **EBITDA Margin**: Greater than 60% [4] - **Return on Equity (ROE) and Return on Invested Capital (ROIC)**: Both over 20% [4] - **Dividend Yield**: Over 2.5% with the first annual dividend announced [6] - **Market Valuation**: Trading at a multiple of approximately 2.5 earnings, with expectations for growth [5] Business Model and Strategy - **Core Business**: Abacus operates as both an origination company and an asset manager, controlling the lifecycle of client assets [3] - **Market Opportunity**: Positioned in a $14 trillion life insurance industry, with a focus on acquiring life insurance policies as assets [7][10] - **Recurring Revenue**: Aiming to increase recurring revenue from 15% to 70% over the next three to five years [15] - **Growth Strategy**: Plans to triple revenue over the last two years and double it again in the next three years [16] Unique Selling Proposition - **Regulatory Advantage**: Licensed in every state to operate in a highly regulated market [10] - **Data Utilization**: Developed technology to track mortality with 99% accuracy within 48 hours, significantly outperforming traditional systems [18] - **Asset Characteristics**: Life insurance policies are typically A-rated, cash-reserved, and uncorrelated to market fluctuations [12][13] Growth Areas - **Asset Management**: Currently managing approximately $3-$3.5 billion in assets under management (AUM), with expectations to reach $10 billion in five years [26] - **Technology Division**: Significant growth in tracking lives for mortality data, expanding from 26,000 to 2.6 million lives monitored [29] - **Wealth Advisory Services**: Developing financial solutions based on lifespan data to assist clients in retirement planning [19] Market Position and Future Outlook - **Market Penetration**: Abacus is a dominant player in an underpenetrated market, with a unique position as the only public company in its industry with recurring revenue [7] - **Securitization Plans**: Launched its first securitization in October, with plans for more in 2026 to optimize capital costs [32] - **Investor Engagement**: Committed to educating investors about the business model and growth potential [36] Conclusion - **Investment Opportunity**: Abacus presents a compelling investment opportunity with strong growth metrics, a unique business model, and a significant market opportunity in the life insurance asset management space [36]