Raises Full-Year 2026 Adjusted Net Income(1) Guidance to $100--$106 Million, Up to 24% Increase Year-Over-Year; Issues Q2 Adjusted Net Income Guidance of $24--$26 Million
Issues Full-Year 2026 Adjusted EPS(1) Guidance of $1.00--$1.05; Q2 Adjusted EPS Guidance of $0.24--$0.26
Generates $91.7 Million in Operating Cash Flow, an Increase of More Than $153 Million Year-Over-Year
Longevity Income Funds AUM Grows Nearly 4x Year-Over-Year to Approximately $1 Billion
Adjusted Net Income(1) Increases 17% Year-Over-Year to $20.1 Million; Adjusted EBITDA(1) Grows 33.3% to $32.7 Million
ORLANDO, Fla., May 07, 2026 (GLOBE NEWSWIRE) -- Abacus Global Management, Inc. ("Abacus" or the "Company") $(ABX)$, a financial services company specializing in alternative asset management, data-driven wealth solutions, technology innovations, and institutional services with a focus on longevity-based assets and personalized financial planning, today reported results for the first quarter ended March 31, 2026.
Jay Jackson, Chief Executive Officer of Abacus commented, "This quarter, the results reflect both the execution of our platform and the moment this asset class is having. Gross AUM reached approximately $3.6 billion on $378 million of gross capital inflows, longevity income fund AUM has grown nearly 4x year-over-year approaching $1 billion, and we deployed $163.6 million in origination capital. At the same time, we returned 100% of investor capital in our LMA Income II Fund at term, on time, as promised, with two-thirds of those investors choosing to recommit or extend their investment. That is not a capital return event. That is a validation. Our assets are mortality-driven, structurally uncorrelated to credit and equity cycles, and in this macro environment, that distinction is driving institutional demand. We increased our 2026 guidance, and our strategic initiatives including our investment in Manning & Napier and a second securitization are advancing on schedule. Quarter after quarter, we do what we say we will do."
First Quarter 2026 Highlights
Metric 1Q26 1Q25 Note
----------------------------- ------- -------- ----------------------------
+35% YoY driven by strong
Total Revenue $59.4M $44.1M Life Solutions growth
----------------------------- ------- -------- ----------------------------
Origination capital +30% YoY; 659 policies held
deployment $163.6M $125.9M (vs. 753 in 1Q25)
----------------------------- ------- -------- ----------------------------
GAAP net income $7.3M $4.6M +59%
----------------------------- ------- -------- ----------------------------
Operating Cash Flow $91.7M ($61.6M) +$153M increase YoY;
demonstrates cash generation
capacity of platform
----------------------------- ------- -------- ----------------------------
First Quarter 2026 Non-GAAP Highlights
Metric 1Q26 1Q25 Note
-------------------------- ------ ------ ----------------------------------
Adjusted net income(1) $20.1M $17.3M +17% YoY
-------------------------- ------ ------ ----------------------------------
Adjusted EPS (basic)(1) $0.21 $0.18 +17% YoY
-------------------------- ------ ------ ----------------------------------
Adjusted EBITDA(1) $32.7M $24.5M +33% YoY
-------------------------- ------ ------ ----------------------------------
Adjusted EBITDA margin(1) 55.0% 55.6% Maintains high margin level while
growing the business
-------------------------- ------ ------ ----------------------------------
First Quarter 2026 Efficiency Movers
Metric 1Q26 1Q25 Note
-------------------------- ---- ---- --------------------------------------
Annualized ROIC(1) 17% 17% Maintained YoY
-------------------------- ---- ---- --------------------------------------
Annualized ROE(1) 19% 16% +19% YoY
-------------------------- ---- ---- --------------------------------------
Annualized turnover ratio 1.9x 0.8x Within long-term target of 1.5x to
2.0x
-------------------------- ---- ---- --------------------------------------
Average Realized Gain 26% 21% Exceeds long-term target of 20%,
reflecting strong origination
discipline
-------------------------- ---- ---- --------------------------------------
First Quarter 2026 Capital Return Update
Metric 1Q26 Note
------------------------ ---- ----------------------------------------------
Share repurchase program $20M Board approved additional repurchases of up to
$20 million in January 2026, reflecting
confidence in long-term business model,
recurring earnings, and capital strength
------------------------ ---- ----------------------------------------------
Other First Quarter 2026 Highlights
-- On March 12, 2026, Abacus entered into a definitive agreement to acquire
an approximately $53 million minority equity stake in Manning & Napier,
Inc., a diversified wealth and asset management firm with approximately
$18 billion in total AUM. In connection with the investment, the parties
will enter into a Strategic Alliance Agreement designed to drive product
distribution, lead generation and referrals, and joint product
development across the two platforms. The transaction is expected to
close in Q2 2026, subject to customary closing conditions including
regulatory approvals.
-- During Q1 2026, Abacus returned 100% of investor capital in its LMA
Income II Fund at term, on time, and as promised, with approximately
two-thirds of investors electing to re-commit or extend their investment.
The successful capital return underscores the reliability of the
Company's fund structures and the growing institutional confidence in
longevity-based investment products.
-- Following the quarter's end, on April 17, 2026, Abacus announced several
key leadership appointments: Alexei Solomon, CPA, Abacus' Treasurer was
elevated to also serve as our Chief Accounting Officer. Elena Plesco was
named Abacus' Chief Investment Officer. Samantha Butcher, President of
Abacus Life Solutions, was elevated to an Executive Officer of Abacus.
Bill McCauley, Abacus' Chief Financial Officer was also appointed as
Chief Operating Officer. Additionally, with the appointment of Mr.
Solomon to the role of Chief Accounting Officer, Mr. McCauley stepped
down from that role.
Liquidity and Capital
As of March 31, 2026, the Company had cash and cash equivalents of $37.2 million, balance sheet policy assets held at fair value of $392.8 million, and total outstanding debt, net of deferred issuance costs and discounts, of $330.0 million. The Company generated $91.7 million in operating cash flow during Q1 2026, compared to negative $61.6 million in the prior-year period, reflecting the increasing cash generation capacity of the platform as longevity fund AUM scales.
Outlook
Metric FY26 2Q26 Note
---------------------- -------------- -------------- ----------------------
Adjusted net income(1) $100M to $106M $24M to $26M FY Implies 17% to 24%
YoY; Midpoint of 20%
---------------------- -------------- -------------- ----------------------
Adjusted EPS $1.00 to $1.05 $0.24 to $0.26 First time EPS
(basic)(1) guidance; based on
basic share count
---------------------- -------------- -------------- ----------------------
Webcast and Conference Call
A webcast and conference call to discuss the Company's results will be held today, May 7, 2026, 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.abacusgm.com. The dial-in number for the conference call is (833) 316-2483 (toll-free) or (785) 838-9284 (international) and participants must enter Conference ID "ABACUS" when joining. 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 2026 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, 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
All statements in this press release (and oral statements made regarding the subjects of this press release) other than historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors that could cause actual results to differ materially from such statements, many of which are outside the control of Abacus. Forward-looking information includes but is not limited to statements regarding: Abacus's financial and operational outlook; Abacus's operational and financial strategies, including planned growth initiatives and the benefits thereof; Abacus's ability to successfully effect those strategies, and the expected results therefrom; projections of future earnings and expected capital; Abacus' ability to generate future cash flows; securitization schedules and timing; future demand for Abacus' products and services; and the reliability of the Company's fund structures and corresponding market confidence and expectations. These forward-looking statements generally are identified by the words "believe," "project," "estimate," "expect," "intend," "anticipate," "goals," "prospects," "will," "would," "will continue," "will likely result," and similar expressions (including the negative versions of such words or expressions).
While Abacus believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. The factors that could cause results to differ materially from those indicated by such forward-looking statements include, but are not limited to: the potential impact of our business relationships, including with our employees, customers and competitors; changes in general economic and business and conditions, including changes in the financial markets; political instability both in the U.S. and abroad, to include political violence, terrorism, and war; weakness or adverse changes in the level of activity in our sector or the sectors of our affiliated companies, which may be caused by, among other things, high or increasing interest rates, or a weak U.S. economy; significant competition that our operating subsidiaries face; compliance with extensive government regulation; the failure to meet Abacus's investment objectives; the inability to raise capital on favorable terms or at all; and the effectiveness of Abacus's control environment, including the identification of control deficiencies.
These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties set forth in documents filed by Abacus with the U.S. Securities and Exchange Commission from time to time, including the Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and subsequent periodic reports. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Abacus cautions you not to place undue reliance on the forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Abacus assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Abacus does not give any assurance that it will achieve its expectations.
Risk disclosure: All securities investing and trading activities risk the loss of capital. Investors should carefully review the offering documents and consult with their own legal, tax, and financial advisors regarding the suitability of investments.
About Abacus
Abacus Global Management (NYSE: ABX) is a financial services company specializing in alternative asset management, data-driven wealth solutions, technology innovations, and institutional services. With a focus on longevity-based assets and personalized financial planning, Abacus leverages proprietary data analytics and decades of industry expertise to deliver innovative solutions that optimize financial outcomes for individuals and institutions worldwide.
For more information, please visit www.abacusgm.com
Contacts:
Investor Relations
Robert F. Phillips -- SVP Investor Relations and Corporate Affairs
rob@abacusgm.com
(321) 290-1198
David Jackson -- Managing Director of Investor Relations
david@abacusgm.com
(321) 299-0716
Abacus Global Management Public Relations
press@abacusgm.com
ABACUS GLOBAL MANAGEMENT, INC. CONSOLIDATED BALANCE SHEET
March 31, December 31,
2026 (unaudited) 2025
------------------ -----------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 37,209,747 $ 38,112,332
Accounts receivable 12,260,137 18,082,473
Accounts receivable, related
party 13,297,909 9,320,103
Income taxes receivable 96,223 411,055
Prepaid expenses and other
current assets 5,453,056 3,646,850
------------- -----------
Total current assets 68,317,072 69,572,813
Property and equipment, net 1,621,754 1,597,896
Intangible assets, net 63,284,242 66,360,444
Goodwill 252,779,884 252,779,884
Operating right-of-use assets 10,339,573 4,561,692
Management and performance fee
receivable, related party 14,509,188 14,800,140
Life settlement policies, at fair
value 392,770,863 468,857,929
Life settlement policies, at cost 931,353 918,305
Available-for-sale securities, at
fair value; net of allowance for
credit losses of $1,245,575 at
March 31, 2026 and December 31,
2025 3,147,609 3,108,750
Other investments 20,653,585 18,253,585
Other assets 1,439,461 1,428,820
TOTAL ASSETS $ 829,794,584 $902,240,258
============= ===========
LIABILITIES, MEZZANINE EQUITY, AND
STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Current portion of long-term
debt, at fair value $ - $114,424,000
Current portion of long-term debt 1,500,000 1,500,000
Accrued expenses 7,146,873 10,935,292
Current operating lease
liabilities 1,327,873 720,186
Contract liabilities, deposits on
pending settlements 766,528 169,184
Accrued transaction costs 2,200,698 2,336,177
Other current liabilities 14,092,882 15,853,016
Income taxes payable 8,767,351 2,653,366
------------- -----------
Total current liabilities 35,802,205 148,591,221
Long-term debt, net 275,802,521 275,780,392
Long-term debt, at fair value 38,156,705 -
Long-term debt, related party 14,541,873 14,114,199
Retrocession fees payable 5,361,714 5,361,714
Noncurrent operating lease
liabilities 9,985,924 4,637,642
Deferred tax liability 27,540,858 30,214,160
Warrant liability - -
------------- -----------
TOTAL LIABILITIES 407,191,800 478,699,328
------------- -----------
COMMITMENTS AND CONTINGENCIES (Note
12)
MEZZANINE EQUITY
Series A convertible preferred
stock, $0.0001 par value; 5,000
shares authorized; 5,000 and --
shares issued and outstanding at
March 31, 2026 and December 31,
2025, respectively 5,000,000 5,000,000
------------- -----------
TOTAL MEZZANINE EQUITY 5,000,000 5,000,000
------------- -----------
STOCKHOLDERS' EQUITY
Preferred stock, $0.0001 par
value; 1,000,000 shares
authorized; 5,000 shares issued
and outstanding - -
Class A common stock, $0.0001 par
value; 200,000,000 authorized
shares; 105,039,246 and
104,879,752 shares issued at
March 31, 2026 and December 31,
2025, respectively 10,504 10,488
Treasury stock -- at cost;
9,055,830 and 7,406,118 shares
repurchased at March 31, 2026
and December 31, 2025,
respectively (70,262,583) (55,808,595)
Additional paid-in capital 522,314,870 515,971,485
Accumulated deficit (34,460,007) (41,632,448)
Noncontrolling interest - -
------------- -----------
TOTAL STOCKHOLDERS' EQUITY 417,602,784 418,540,930
------------- -----------
TOTAL LIABILITIES, MEZZANINE
EQUITY, AND STOCKHOLDERS' EQUITY $ 829,794,584 $902,240,258
============= ===========
ABACUS GLOBAL MANAGEMENT, INC. UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
Three Months Ended
March 31,
------------------------------
2026 2025
REVENUES:
Asset management $ 1,042,443 $ 748,389
Asset management, related party 7,416,701 7,024,688
Life solutions 34,016,667 35,397,311
Life solutions, related party 16,550,621 901,346
Technology services 363,856 67,612
----------- -----------
TOTAL REVENUES 59,390,288 44,139,346
COST OF REVENUES (excluding
depreciation and amortization stated
below):
Cost of revenue (including
stock-based compensation) 6,307,385 7,108,407
----------- -----------
GROSS PROFIT 53,082,903 37,030,939
OPERATING EXPENSES:
Sales and marketing 4,947,910 2,616,000
General and administrative
(including stock-based
compensation) 25,872,125 12,263,786
(Gain) loss on change in fair value
of debt - (3,362,103)
Unrealized loss (gain) on equity
securities, at fair value - (272,254)
Depreciation and amortization
expense 3,934,086 4,758,546
----------- -----------
TOTAL OPERATING EXPENSES 34,754,121 16,003,975
----------- -----------
OPERATING INCOME 18,328,782 21,026,964
OTHER INCOME (EXPENSE):
Gain (loss) on change in fair value
of warrant liability - (4,806,000)
Interest expense (10,453,592) (9,618,330)
Interest income 663,223 1,175,001
Other (expense) income 2,518,593 (44,524)
----------- -----------
TOTAL OTHER INCOME (EXPENSE) (7,271,776) (13,293,853)
----------- -----------
NET INCOME BEFORE PROVISION FOR INCOME
TAXES 11,057,006 7,733,111
Income tax expense 3,790,814 2,334,085
----------- -----------
NET INCOME 7,266,192 5,399,026
----------- -----------
LESS: NET INCOME ATTRIBUTABLE TO
NONCONTROLLING INTEREST - 759,443
----------- -----------
NET INCOME ATTRIBUTABLE TO ABACUS
GLOBAL MANAGEMENT, INC. $ 7,266,192 $ 4,639,583
=========== ===========
EARNINGS (LOSS) PER SHARE:
Earnings per share - basic $ 0.07 $ 0.05
Earnings per share - diluted $ 0.07 $ 0.05
Weighted-average stock
outstanding--basic 96,775,889 96,193,199
Weighted-average stock
outstanding--diluted 99,545,644 97,498,923
NET INCOME $ 7,266,192 $ 5,399,026
----------- -----------
COMPREHENSIVE INCOME BEFORE
NON-CONTROLLING INTERESTS 7,266,192 5,399,026
Net and comprehensive income
attributable to non-controlling
interests - 759,443
----------- -----------
COMPREHENSIVE INCOME ATTRIBUTABLE TO
ABACUS GLOBAL MANAGEMENT, INC. $ 7,266,192 $ 4,639,583
=========== ===========
ABACUS GLOBAL MANAGEMENT, INC. ADJUSTED NET INCOME
Three Months Ended March 31, Three Months Ended March 31,
2026 2025
Estimated Estimated
Gross Tax [2] Net Gross Tax [2] Net
Net income (loss)
attributable to
Abacus Global
Management $ 7,266,192 $ - $ 7,266,192 $ 4,639,583 $ - $ 4,639,583
Net income (loss)
attributable to
noncontrolling
interests - - - 759,443 - 759,443
Amortization
expense 3,824,053 (969,206) 2,854,847 4,691,720 (1,189,117) 3,502,603
Stock based
compensation 6,343,401 (1,607,735) 4,735,666 2,355,395 (596,975) 1,758,420
Business
acquisition and
project legal
costs 3,949,340 (1,000,960) 2,948,380 - - -
Unrealized gain
on investments (5,400,000) 1,368,630 (4,031,370) - -
Impairments on
investments 3,050,000 (773,023) 2,276,977 - - -
Loss on change in
fair value of
warrant
liability - - - 4,806,000 (1,218,081) 3,587,919
Other 103,561 - 103,561 - - -
Tax impact([1]) 971,199 - 971,199 - - -
Adjusted Net
Income $20,107,746 $(2,982,294) $17,125,453 $17,252,141 $(3,004,172) $14,247,969
========== ========== ========== ========== ========== ==========
Weighted-Average
Stock
Outstanding -
Basic 96,775,889 96,775,889 96,775,889 96,193,199 96,193,199 96,193,199
Weighted-Average
Stock
Outstanding -
Diluted 99,545,644 99,545,644 99,545,644 97,498,923 97,498,923 97,498,923
Adjusted EPS -
Basic $ 0.21 $ (0.03) $ 0.18 $ 0.18 $ (0.03) $ 0.15
Adjusted -
Diluted $ 0.20 $ (0.03) $ 0.17 $ 0.18 $ (0.03) $ 0.15
[1] Tax impact represents the permanent difference
in tax expense related to the restricted stock awards
granted to certain executives due to IRC 162(m) limitations.
[2] The estimated tax is based on the net federal
and state statutory rate.
Note: Totals may not add up due to rounding.
ABACUS GLOBAL MANAGEMENT, INC. ADJUSTED EBITDA
Three Months Ended March 31,
2026 2025
Net Income $ 7,266,192 $ 5,399,026
Depreciation and amortization
expense 3,934,086 4,758,546
Income tax expense 3,790,814 2,334,085
Interest expense 10,453,592 9,618,330
Other (income) expense, net (168,593) 44,524
Interest income (663,223) (1,175,001)
Loss on change in fair value of
warrant liability - 4,806,000
Stock based compensation 6,343,401 2,355,395
Unrealized gain on investments (5,400,000) -
Impairments on investments 3,050,000 -
Business acquisition and project
legal costs 3,949,340 -
Other 103,561 -
Unrealized gain on equity
securities, at fair value - (272,254)
Change in fair value of debt - (3,362,103)
Adjusted EBITDA $ 32,659,170 $24,506,548
----------- ----------
Total Revenue $ 59,390,288 $44,139,346
Adjusted EBITDA Margin % 55% 56%
Net Income Margin % 12% 12%
ABACUS GLOBAL MANAGEMENT, INC.
RETURN ON INVESTED CAPITAL
Three Months Ended Three Months Ended
March 31, 2026 March 31, 2025
---------------------- ----------------------
Total Assets $ 829,794,584 $ 856,509,285
Less:
Intangible assets, net (63,284,242) (75,110,105)
Goodwill (252,779,884) (238,296,200)
Current Liabilities (35,802,205) (130,800,422)
Total Invested Capital $ 477,928,253 $ 412,302,558
-------------- --------------
Adjusted Net income $ 20,107,746 $ 17,252,141
Adjusted Annualized ROIC 17% 17%
ABACUS GLOBAL MANAGEMENT
RETURN ON EQUITY
Three Months Ended Three Months Ended
March 31, 2026 March 31, 2025
---------------------- ----------------------
Total Shareholder Equity $ 417,602,784 $ 430,579,026
Adjusted Net income $ 20,107,746 $ 17,252,141
Adjusted Annualized ROE 19% 16%
(END) Dow Jones Newswires
May 07, 2026 16:15 ET (20:15 GMT)