Overview
Abacus Global Q3 revenue grows 124% yr/yr, beating analyst expectations
Adjusted EBITDA for Q3 beats estimates, growing 127% yr/yr
Company completes AccuQuote acquisition and $50 mln securitized note
Outlook
Abacus raises 2025 adjusted net income outlook to $80 mln-$84 mln
Company expects 2025 adjusted net income growth of 72% to 81%
Result Drivers
REVENUE GROWTH - Revenue increased 124% to $63 mln, driven by growth in Life Solutions and Longevity Funds segments and expanded asset management fees from acquisitions
ACQUISITION IMPACT - Acquisition of AccuQuote expands financial services platform and supports growth in policy origination
SECURITIZED NOTE - Issuance of $50 mln securitized asset-backed note marks a scalable funding mechanism
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $63 mln | $49.30 mln (5 Analysts) |
Q3 Net Income | $7.10 mln | ||
Q3 Adjusted EBITDA | Beat | $37.90 mln | $28.90 mln (3 Analysts) |
Q3 Adjusted EBITDA Margin | 60.20% |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the multiline insurance & brokers peer group is "buy"
Wall Street's median 12-month price target for Abacus Global Management Inc is $14.00, about 62.1% above its November 5 closing price of $5.30
The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 6 three months ago
Press Release: ID:nGNX7J9vhg
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)