Company Overview - Abacus Global Management, established in 2004, manages approximately $3 billion in Assets Under Management (AUM) [5] - The company has around 160 employees [5] and operates from 2 offices and 4 representations across 3 continents, serving clients in over 30 countries [5] Financial Performance (Q1 2025) - Abacus achieved a 105% year-over-year (YoY) revenue growth [14, 34] - Adjusted EBITDA increased by 111% YoY [34] - Adjusted Net Income increased by 158% YoY [34] - Total inflows reached $151 million [14] - Gross Revenue was $44.1 million [35] - Adjusted Net Income was $17.3 million [35] - Adjusted EBITDA was $24.5 million [35] - Capital deployed for policy purchases amounted to $125.9 million [35] - Assets Under Management (AUM) reached $3.1 billion [35] Financial Outlook (FY2025) - The company projects Adjusted Net Income between $70 million and $78 million for FY2025, representing a YoY change of +51% to +68% [37]

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 $44.1 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 $21.5 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 $1.3 million in the prior-year period [6] - Adjusted net income grew 158% year-over-year to $17.3 million, up from $6.7 million in Q1 2024 [6] - Adjusted EBITDA more than doubled to $24.5 million, compared to $11.6 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 $856.5 million [4][22] - The company reported outstanding long-term debt of $238.0 million [4] Growth and Market Position - The company attracted $122.8 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]

Financial Data and Key Metrics Changes - Total revenue for the fiscal third quarter of 2025 was $3.2 million, reflecting a 15% year-over-year growth [6][17] - Fee-paying assets under management (AUM) increased by 15% year-over-year, reaching approximately $565 million [7][17] - The company reported a net loss of $4.5 million for the quarter, compared to a net loss of $2.9 million in the prior year period [17] Business Line Data and Key Metrics Changes - The company launched Monomoy Construction Services through the acquisition of Greenfield CRE, enhancing its real estate capabilities [6][11] - Base management fees from Great Elm Capital Corp (GECC) grew over 40% year-over-year to $1.3 million [9] - Great Elm Credit Income Fund delivered returns on invested capital of approximately 13.9% net of fees since inception [10] Market Data and Key Metrics Changes - GECC raised approximately $147 million through equity and debt issuances in calendar year 2024, contributing to the growth in fee-paying AUM [7] - GECC generated record total investment income of $12.5 million, marking the highest cash income quarter in the company's history [8] Company Strategy and Development Direction - The company is focused on expanding its core credit and real estate platforms as part of its long-term growth strategy [6] - The acquisition of Greenfield CRE is expected to create revenue and operational synergies, enhancing the overall real estate value proposition [11][15] - The company aims to evaluate strategic opportunities to expand its businesses and add differentiated product offerings with attractive risk-adjusted return profiles [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of unrealized losses related to investments as market conditions stabilize [13][18] - The company remains committed to executing development projects to drive profitability and deliver value for both tenants and shareholders [10][15] Other Important Information - The company has approximately $32 million in cash available to facilitate continued growth across its asset management platforms [7][18] - Share repurchase program executed with approximately 4.8 million shares repurchased for $8.7 million at an average cost of $1.84 per share, representing a 15% discount to the quarter-end book value per share of $2.14 [12][13] Q&A Session Summary - There were no questions during the Q&A session, and the call concluded with closing comments from the CEO [19][20]

Financial Data and Key Metrics Changes - Total revenue for the fiscal third quarter of 2025 was $3.2 million, reflecting a 15% year-over-year growth [6][16] - Fee-paying assets under management (AUM) increased by 15% year-over-year, reaching approximately $565 million [6][16] - The company reported a net loss of $4.5 million for the quarter, compared to a net loss of $2.9 million in the prior year period [16][17] - Adjusted EBITDA for the quarter was $500,000, down from $1.2 million in the prior year [17] Business Line Data and Key Metrics Changes - The company launched Monomoy Construction Services through the acquisition of Greenfield CRE, enhancing its real estate capabilities [5][11] - Great Elm Capital Corp (GECC) raised approximately $147 million through equity and debt issuances, contributing to a 40% increase in fee-paying AUM at GECC [6][7] - Base management fees from GECC grew over 40% year-over-year to $1.3 million [9] Market Data and Key Metrics Changes - The company ended the quarter with approximately $32 million in cash, positioning it well for future growth amid market volatility [13][17] - GECC generated record total investment income of $12.5 million, marking the highest cash income quarter in the company's history [7] Company Strategy and Development Direction - The company is focused on expanding its core credit and real estate platforms as part of its long-term growth strategy [5][15] - The acquisition of Greenfield CRE is expected to provide revenue and cost synergies, enhancing the overall real estate value proposition [11][14] - The company aims to evaluate strategic opportunities to expand its businesses and add differentiated product offerings with attractive risk-adjusted return profiles [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of unrealized losses related to investments as market conditions stabilize [13][17] - The company remains focused on enhancing financial performance and growing AUM, with a strong liquidity position to support future growth initiatives [14][15] Other Important Information - The company has repurchased approximately 4.8 million shares for $8.7 million under its $20 million buyback program, achieving an average cost of $1.84 per share [12][13] - The net loss for the quarter was primarily driven by unrealized losses related to investments marked lower amid broader market volatility [13][17] Q&A Session Summary Question: What are the expectations regarding the recovery of unrealized losses? - Management remains highly confident that the unrealized losses will reverse over time as market conditions stabilize [13][17] Question: How is the company positioned for future growth? - The company has a strong liquidity position with approximately $32 million in cash, enabling it to support future growth initiatives across its alternative asset management platform [13][14]

Record fundraising and deployments of over $1.4 Billion in Gross New Fee-Paying AUM Increased Quarterly Dividend by 7% Completed Acquisition of Qualitas Funds DALLAS, May 08, 2025 (GLOBE NEWSWIRE) -- P10, Inc. (NYSE: PX) (the “Company”), a leading private markets solutions provider, today reported financial results for the first quarter ended March 31, 2025. First Quarter 2025 Financial Highlights Revenue: $67.7 million, a 2% increase year over year.Fee-Related Revenue: $67.6 million, a 4% increase year ove ...

Financial Performance - Total revenue for the third quarter grew 15% to $3.2 million, compared to $2.8 million for the prior-year period[6] - GECC base management fees grew over 40% year-over-year due to FPAUM growth[6] - Fiscal 3Q25 revenue grew 15% to $3.2 million, compared to $2.8 million in the prior-year period[26] - Fiscal 3Q25 Adjusted EBITDA was $0.5 million, compared to $1.2 million in Fiscal 3Q24[24] - Net loss from continuing operations was ($4.5) million for Fiscal 3Q25, compared to net loss of ($2.9) million in the prior-year period[26] Assets Under Management - Assets Under Management ("AUM") reached $768 million as of March 31, 2025, a 12% increase from March 31, 2024[29] - Fee-Paying AUM ("FPAUM") was $565 million as of March 31, 2025, up 15% from March 31, 2024[31] - Great Elm ended the quarter with approximately $32 million of cash to deploy across its growing alternative asset management platform[6] Strategic Initiatives - Great Elm launched Monomoy Construction Services, LLC ("MCS") in February 2025 through the acquisition of Greenfield CRE, LLC ("Greenfield")[6] - Great Elm Capital Corp ("GECC") launched a $100 million At-the-Market equity program in May 2025[6] - Through May 6, 2025, Great Elm repurchased approximately 4.8 million shares for approximately $8.7 million, at an average cost of $1.84 per share[6]

Core Viewpoint - Great Elm Group, Inc. reported solid financial results for its fiscal third quarter ended March 31, 2025, with significant growth in assets under management and revenue, despite a net loss driven by unrealized investment losses [4][6][9]. Financial Performance - Fee-paying assets under management (FPAUM) grew by 15% to approximately $565 million, while total assets under management (AUM) increased by 12% to approximately $768 million compared to the prior-year period [3][6]. - Total revenue for the third quarter was $3.2 million, reflecting a 15% increase from $2.8 million in the prior-year period, primarily due to higher revenue from real estate project management fees and increased management fees from Great Elm Capital Corp. (GECC) [6][8]. - The net loss from continuing operations for the quarter was ($4.5) million, compared to a net loss of ($2.9) million in the prior-year period, mainly due to unrealized losses on certain investment positions [9][21]. - Adjusted EBITDA for the third quarter was $0.5 million, down from $1.2 million in the prior-year period [9][24]. Strategic Developments - The company launched Monomoy Construction Services in February 2025 through the acquisition of Greenfield CRE, enhancing its real estate platform with specialized construction capabilities [4][10]. - Great Elm continued its share repurchase program, having repurchased approximately 4.8 million shares for $8.7 million at an average cost of $1.84 per share [6][11]. - GECC achieved record total investment income of $12.5 million for the first calendar quarter of 2025, driven by cash flows from its CLO joint venture and new investments [7][13]. Future Outlook - The company remains focused on growing its core businesses and pursuing investment opportunities to maximize long-term shareholder value [4][6]. - GECC launched a $100 million At-the-Market equity program to provide additional capital flexibility [6][13].

Company Overview - Trinity Capital has provided $4.3 billion in fundings across 403 investments with 234 exits[9] - The company's portfolio includes $1,330.4 million in secured loans to 81 companies, $336.7 million in equipment financings to 27 companies, and $125.6 million in equity & warrants across 132 companies[9] - As of March 31, 2025, Trinity Capital had $216.4 million in available liquidity and a debt-to-equity ratio of 116%[9] - The annualized dividend yield is 13.5%, based on a $0.51 dividend per share for Q1 2025[9, 11] Financial Highlights (Q1 2025) - Total investment income reached $65.4 million[43] - Net investment income (NII) was $32.4 million, resulting in $0.51 per share[43] - The company committed $185.9 million in debt & equity and funded $220.4 million in debt & equity[43] - Total platform assets under management amounted to $2,142.2 million[43] - The effective yield was 15.3%, while the core yield was 14.1%[43] Portfolio Composition - Loans represent 74.2%, equipment financings 18.8%, and equity & warrants 7.0% of the investment type[84] - The portfolio is diversified across industries, with the largest allocations in Finance and Insurance (17.6%), Medical Devices (12.7%), and SaaS (10.4%)[84] - Floating rate debt investments constitute 76.9% of the portfolio[100]

Financial Performance - TPG's net income for 1Q'25 was $88 million, compared to a net loss of $9 million in 1Q'24[16] - Net income attributable to TPG Inc was $25 million for 1Q'25, compared to $16 million in 1Q'24[16] - Fee-Related Revenues (FRR) for 1Q'25 increased by 6% to $476 million compared to $451 million in 1Q'24[17] - After-tax Distributable Earnings (DE) for 1Q'25 was $187 million, an increase from $181 million in 1Q'24[17] Assets Under Management (AUM) - Total AUM reached $251 billion, up 12% from $223.6 billion in 1Q'24[7, 17] - Fee Earning Assets Under Management (FAUM) increased by 4% to $142.8 billion, compared to $137 billion in 1Q'24[17] - Available capital stood at $57 billion at the end of 1Q'25[4, 17] Capital Activity - Capital raised in 1Q'25 was $59 billion, compared to $47 billion in 1Q'24[17] - Capital invested in 1Q'25 amounted to $73 billion, compared to $65 billion in 1Q'24[17] - Realizations in 1Q'25 totaled $43 billion, compared to $49 billion in 1Q'24[17] Dividend - TPG declared a quarterly dividend of $041 per share of Class A common stock, payable on June 2, 2025[5]

Core Insights - Trinity Capital Inc. reported a total investment income growth of 29.5% year-over-year, reaching $65.4 million for Q1 2025 [4][13] - The company's net asset value (NAV) increased to $833 million, although NAV per share decreased to $13.05 from $13.35 [10][13] - The return on average equity (ROAE) was reported at 15.5% for the first quarter of 2025 [13] Financial Performance - Total investment income for Q1 2025 was $65.4 million, compared to $50.5 million in Q1 2024 [4][13] - Net investment income was approximately $32.4 million, or $0.52 per share, compared to $25.2 million or $0.54 per share in the previous year [7][13] - The net increase in net assets resulting from operations was $27.1 million, or $0.43 per share, up from $14.5 million or $0.31 per share in Q1 2024 [9][13] Operating Expenses - Total operating expenses, excluding interest, were $15.3 million in Q1 2025, up from $13.2 million in Q1 2024, primarily due to higher compensation and professional fees [5] - Interest expense increased to $17.7 million in Q1 2025 from $12.1 million in Q1 2024, attributed to higher average debt outstanding and borrowing rates [6] Investment Portfolio - As of March 31, 2025, the investment portfolio had a fair value of approximately $1.79 billion, consisting of $1.33 billion in secured loans, $336.7 million in equipment financings, and $125.6 million in equity and warrants [11][12] - The company originated approximately $185.9 million in new commitments during the first quarter, with gross investments funded totaling $220.4 million [12][13] Asset Management and Liquidity - The company had approximately $216.4 million in available liquidity as of March 31, 2025, including $8.4 million in unrestricted cash [17] - Trinity's leverage ratio was approximately 116% at the end of Q1 2025, compared to 108% at the end of Q4 2024 [20] Dividend Distribution - The Board of Directors declared a regular dividend of $0.51 per share for Q1 2025, marking the 21st consecutive quarter of consistent or increased dividends [22][13]