- Second Quarter 2025 Total Revenue Nearly Doubles Year-over-Year to $56.2 Million -

- Longevity Funds Attracted $123.1 Million in Capital Inflows -

- GAAP Net Income of $17.6 Million -

- Adjusted Net Income Grew 87% Year-over-Year to $21.9 Million -

- Adjusted EBITDA Grew 89% Year-over-Year to $31.5 Million --

Raises Full Year 2025 Outlook

ORLANDO, Fla., Aug. 07, 2025 (GLOBE NEWSWIRE) -- Abacus Global Management, Inc. ("Abacus" or the "Company") (NASDAQ: ABL), a leader in the alternative asset management space, today reported results for the second quarter ended June 30, 2025.

"We delivered another excellent quarter of record profitable growth in the second quarter of 2025, nearly doubling total revenue and adjusted earnings year-over-year, enabling us to raise our full year outlook for adjusted earnings," said Jay Jackson, Chief Executive Officer of Abacus. "Our strong performance was driven by robust demand for policyholder liquidity, as well as increased inflows for our new asset management offerings. Our differentiated origination-focused business model, serving both liquidity-seeking consumers and yield-seeking investors, enables us to capture true market value in any macro environment. With our greater scale and capabilities, our ability to consistently execute on our strategic growth initiatives and our expanding brand recognition, we remain steadfast in our mission to establish Abacus as the leading alternative asset and wealth management company."

Second Quarter 2025 Highlights

   -- Total revenue for the second quarter grew 93% to $56.2 million, compared 
      to $29.1 million in the prior-year period. The increase was primarily 
      driven by higher revenues from Life Solutions as well as a full quarter 
      of asset management fees from the acquisitions that were completed in the 
      fourth quarter of 2024. 
 
   -- Origination capital deployment for the second quarter of 2025 was $121.8 
      million, compared to $104.7 million in the prior-year period; number of 
      policies held as of the end of the second quarter of 2025 stood at 600, 
      compared to 458 in the prior-year period. 
 
   -- GAAP net income attributable to shareholders for the second quarter of 
      2025 of $17.6 million grew $16.9 million compared to net income of $0.7 
      million in the prior-year period. The increase was primarily driven by 
      higher revenues and a non-recurring $4.2 million gain on change in fair 
      value of warrant liability, partially offset by increased operating 
      expenses. 
 
   -- Adjusted net income (a non-GAAP financial measure) for the second quarter 
      of 2025 grew 87% to $21.9 million, compared to $11.7 million in the 
      prior-year period. Adjusted diluted earnings per share for the second 
      quarter of 2025 was $0.22, compared to $0.17 in the prior-year period. 
 
   -- Adjusted EBITDA (a non-GAAP financial measure) for the second quarter of 
      2025 increased 89% to $31.5 million, compared to $16.7 million in the 
      prior-year period. Adjusted EBITDA margin (a non-GAAP financial measure) 
      for the second quarter of 2025 was 56.1%, compared to 57.5% in the 
      prior-year period. 
 
   -- Adjusted Annualized return on invested capital $(ROIC)$ (a non-GAAP 
      financial measure) for the second quarter of 2025 was 22%. 
 
   -- Annualized Return on equity $(ROE)$ (a non-GAAP financial measure) for the 
      second quarter of 2025 was 21%. 
 
   -- Company introduces supplemental KPIs to provide greater insight into the 
      Company's operational performance: 
 
          -- Annualized Turnover Ratio (a non-GAAP financial measure) for the 
             second quarter of 2025 was 2.3x. 
 
          -- Average Realized Gain (a non-GAAP financial measure) for the 
             second quarter of 2025 was 26.3%. 
 
   -- Announced a newly authorized $20 million Share Repurchase program, 
      approved by the Board effective June 5, 2025. 
 
   -- Hosted Investor Day and Longevity Summit at Nasdaq in New York City on 
      June 12, 2025. During the event the Company announced the public launch 
      of a new corporate-focused commercial campaign. A replay of the event is 
      accessible here. 

Liquidity and Capital

As of June 30, 2025, the Company had cash and cash equivalents of $74.8 million, balance sheet policy assets of $387.3 million and outstanding long-term debt of $357 million.

2025 Outlook

Driven by strong second quarter performance, the Company is raising its full year 2025 outlook for Adjusted net income to between $74 million and $80 million, compared to its prior outlook of between $70 million and $78 million. The new range implies growth of between 59% to 72% compared to full year 2024 Adjusted net income of $46.5 million.

For a definition of Adjusted net income, see "Non-GAAP Financial Information" below.

Subsequent Events

On July 30, 2025, the Company eliminated the overhang of its warrants, announcing the completion of its previously announced exchange offer (the "Offer") and consent solicitation (the "Consent Solicitation") relating to its outstanding warrants. As a result of the completion of the Offer and the Post-Offer Exchange, no warrants will remain outstanding. Accordingly, the public warrants are expected to be suspended from trading on the Nasdaq as of the close of business on August 14, 2025, and will be delisted.

Following completion of the Offer, there are approximately 102,050,981 shares of common stock outstanding (an increase of approximately 4% from prior to the closing of the Offer) and following completion of the Post-Offer Exchange there will be approximately 102,555,154 shares of common stock outstanding (an increase of approximately 5% from prior to the closing of the Offer and the Post-Offer Exchange).

Webcast and Conference Call

A webcast and conference call to discuss the Company's results will be held today beginning at 5:00 p.m. (Eastern Time). A live webcast of the conference call will be available on Abacus' investor relations website at ir.abacuslife.com. The dial-in number for the conference call is (844) 826-3033 (toll-free) or (412) 317-5185 (international). Please dial the number 10 minutes prior to the scheduled start time.

A webcast replay of the call will be available at ir.abacusgm.com for one year following the call.

Non-GAAP Financial Information

Adjusted Net Income, a non-GAAP financial measure, is defined as net income (loss) attributable to Abacus adjusted for non-controlling interest income, amortization, change in fair value of warrants and non-cash stock-based compensation and the related tax effect of those adjustments. Management believes that Adjusted Net Income is an appropriate measure of operating performance because it eliminates the impact of expenses that do not relate to business performance. A reconciliation of Adjusted Net Income to Net income attributable to Abacus, the most directly comparable GAAP measure, appears below.

The Company is unable to provide a comparable FY 2025 outlook for, or a reconciliation to net income because it cannot provide a meaningful or accurate calculation or estimation of certain reconciling items without unreasonable effort. Its inability to do so is due to the inherent difficulty in forecasting the timing of items that have not yet occurred and quantifying certain amounts that are necessary for such reconciliation, including variations in effective tax rate, expenses to be incurred for acquisition activities, and other one-time or exceptional items.

Adjusted EBITDA, a non-GAAP financial measure, is defined as net income (loss) attributable to Abacus adjusted for depreciation expense, amortization, interest expense, income tax and other non-cash and certain non-recurring items that in our judgement significantly impact the period-over-period assessment of performance and operating results that do not directly relate to business performance within Abacus' control. A reconciliation of Adjusted EBITDA to Net income attributable to Abacus Life, the most directly comparable GAAP measure, appears below.

Adjusted EBITDA margin, a non-GAAP financial measure, is defined as Adjusted EBITDA divided by Total revenues. A reconciliation of Adjusted EBITDA margin to Net income margin, the most directly comparable GAAP measure, appears below.

Annualized return on invested capital (ROIC), a non-GAAP financial measure, is defined as Adjusted net income for the quarter divided by the result of Total Assets less Intangible assets, net, Goodwill and Current Liabilities multiplied by four. ROIC is not a measure of financial performance under GAAP. We believe ROIC should be considered in addition to, not as a substitute for, operating income or loss, net income or loss, cash flows provided by or used in operating, investing and financing activities or other income statement or cash flow statement line items reported in accordance with GAAP.

Annualized return on equity (ROE), a non-GAAP financial measure, is defined as Adjusted net income divided by total shareholder equity multiplied by four. ROE is not a measure of financial performance under GAAP. We believe ROE should be considered in addition to, not as a substitute for, operating income or loss, net income or loss, cash flows provided by or used in operating, investing and financing activities or other income statement or cash flow statement line items reported in accordance with GAAP. The below table presents our calculation of ROE.

Forward-Looking Statements

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August 07, 2025 16:15 ET (20:15 GMT)