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Abacus Global Management Reports First Quarter 2025 Results
ABLAbacus Life(ABL) GlobeNewswire·2025-05-08 20:15

Core Insights - Abacus Global Management, Inc. reported exceptional financial results for the first quarter of 2025, with total revenue more than doubling year-over-year to 44.1million,drivenbyincreasedrevenuesfromLifeSolutionsandassetmanagementfeesfromrecentacquisitions[1][6][2]FinancialPerformance−TotalrevenueforQ12025was44.1 million, driven by increased revenues from Life Solutions and asset management fees from recent acquisitions [1][6][2] Financial Performance - Total revenue for Q1 2025 was 44.1 million, compared to 21.5millioninQ12024,representingagrowthofover10521.5 million in Q1 2024, representing a growth of over 105% [6] - GAAP net income for Q1 2025 was 4.6 million, a significant turnaround from a net loss of 1.3millionintheprior−yearperiod[6]−Adjustednetincomegrew1581.3 million in the prior-year period [6] - Adjusted net income grew 158% year-over-year to 17.3 million, up from 6.7millioninQ12024[6]−AdjustedEBITDAmorethandoubledto6.7 million in Q1 2024 [6] - Adjusted EBITDA more than doubled to 24.5 million, compared to 11.6millionintheprior−yearperiod,withanadjustedEBITDAmarginof55.611.6 million in the prior-year period, with an adjusted EBITDA margin of 55.6% [6][27] Capital and Liquidity - As of March 31, 2025, the company had cash and cash equivalents of 43.8 million and total assets of 856.5million[4][22]−Thecompanyreportedoutstandinglong−termdebtof856.5 million [4][22] - The company reported outstanding long-term debt of 238.0 million [4] Growth and Market Position - The company attracted 122.8millionincapitalinflowsforitsnewlylaunchedfundswithinthefirstmonth,indicatingstrongmarketdemand[2]−Thenumberofpoliciesheldincreasedto753from322year−over−year,reflectinggrowthinthecompany′sLifeSolutionssegment[6]2025Outlook−Thecompanymaintainsitsfull−year2025outlookforadjustednetincomebetween122.8 million in capital inflows for its newly launched funds within the first month, indicating strong market demand [2] - The number of policies held increased to 753 from 322 year-over-year, reflecting growth in the company's Life Solutions segment [6] 2025 Outlook - The company maintains its full-year 2025 outlook for adjusted net income between 70 million and $78 million, implying growth of 51% to 68% compared to 2024 [7]