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]

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]

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 [7][18] - 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 [8][18] - The adjusted EBITDA margin for Q4 was 50%, compared to 47% in the prior year, while the full year adjusted EBITDA margin was 55%, down from 59% the previous year [18][19] Business Line Data and Key Metrics Changes - Policy originations increased by 63% to 1,034 in 2024, with capital deployed exceeding $344 million [8] - The company completed two strategic acquisitions, adding approximately $2.6 billion in assets under management, enhancing its capabilities and market reach [9][10] Market Data and Key Metrics Changes - The company reported a strong liquidity position with cash and cash equivalents of $128.8 million as of December 31, 2024, and outstanding long-term debt of $342.4 million [19] - The company anticipates a strong 2025, projecting adjusted net income between $70 million and $78 million, implying growth of 51% to 68% compared to 2024 [8][19] 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 [15][21] - The rebranding to Abacus Global Management reflects the company's evolution and global market presence, with a focus on providing tailored financial solutions [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth opportunities ahead, highlighting the positive impact of market volatility on origination interest and investor demand for unique assets [43][45] - The company is well-positioned for 2025, with a strong capital structure and a focus on integrating acquisitions to enhance revenue streams [14][33] Other Important Information - The company raised $181.7 million in additional equity in two oversubscribed offerings and secured a new $150 million debt financing facility [13] - The company is targeting two turns per year on average for policies held on the balance sheet, with an expected average holding period of four to six months [36] 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 as a key driver [24] 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 [27][28] Question: Deployment of capital from recent equity and debt offerings - Management indicated that a significant amount of capital was deployed in Q4 and expressed confidence in the deployment strategy moving forward [32][33] Question: Changes in behavior from individuals life settling policies - Management noted that market volatility tends to increase interest in liquidity options, positively impacting origination [43][45] Question: Update on the carrier buyback program - Management reported ongoing expansion of the carrier buyback program and positive expectations for 2025 [40][41] Question: Year-end AUM at Carlisle and FCF - Management highlighted positive sentiment and interest in the AUM growth for both entities post-acquisition [50][51]