Abacus Global Management Inc. (NASDAQ: ABL) raised its full-year earnings outlook on Thursday after reporting a second quarter of record growth, driven by rising demand for its life solutions offerings and expanding asset management platform.
The alternative asset manager said total revenue surged 93% year-over-year to $56.2 million for the quarter to end June 2025, while adjusted net income rose 87% to $21.9 million.
The results prompted the company to lift its 2025 adjusted earnings forecast to a range of $74 million to $80 million, up from its previous estimate of $70 million to $78 million.
“Our strong performance was driven by robust demand for policyholder liquidity, as well as increased inflows for our new asset management offerings,” said CEO Jay Jackson. "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."
Abacus’s origination capital deployment reached $121.8 million in the quarter, up from $104.7 million a year earlier, while the number of life insurance policies held rose to 600 from 458.
Adjusted EBITDA climbed 89% to $31.5 million, reflecting sustained margin strength at 56.1%. Return on invested capital for the quarter stood at 22%, while return on equity reached 21%.
The company also introduced new key performance indicators to enhance transparency, including an annualized turnover ratio of 2.3x and an average realized gain of 26.3%.
To support future growth and enhance shareholder value, Abacus announced a new $20 million share repurchase program in June. The firm also recently hosted its inaugural Investor Day and Longevity Summit at Nasdaq, where it unveiled a corporate brand campaign aimed at institutional and retail partners.
Abacus reported $74.8 million in cash and $387.3 million in balance sheet policy assets at the end of the quarter.