Abacus Global Management Delivers Strong Q2 Earnings, Upgrades FY Outlook – ExecEdge
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Abacus Global Management Delivers Strong Q2 Earnings, Upgrades FY Outlook
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Abacus Global Management Delivers Strong Q2 Earnings, Upgrades FY Outlook

By Karen Roman

Abacus Global Management, Inc. (Nasdaq: ABL) said second quarter total sales increased 93% to $56.2 million compared to $29.1 million the prior year, thanks to higher revenues from Life Solutions and asset-management fees from previous acquisitions.

Adjusted net income rose 87% to $21.9 million compared to $11.7 million the year prior, while adjusted diluted earnings per share was $0.22 compared to $0.17, it said.

Adjusted EBITDA increased 89% to $31.5 million compared to $16.7 million, with an adjusted EBITDA margin of 56.1% compared to 57.5%, the company stated.

Abacus raised its full year outlook and now expects adjusted net income between $74 million and $80 million compared to its prior goal of $70 million to $78 million, it said

“Our strong performance was driven by robust demand for policyholder liquidity, as well as increased inflows for our new asset management offerings,” said Jay Jackson, Abacus CEO. “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.”

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