Shares of Abacus Global Management (NASDAQ:ABL) jumped 10.2% on Friday morning after the company raised its full-year earnings outlook and posted a second straight quarter of record growth.
The alternative asset manager lifted its 2025 adjusted earnings forecast to a range of $74 million to $80 million, citing strong demand for policyholder liquidity and inflows into its new asset management offerings.
On Thursday, Abacus reported a 93% year-over-year increase in revenue to $56.2 million for the quarter ended June 30, while adjusted net income climbed 87% to $21.9 million.
CEO Jay Jackson said the results reflect the company’s expanding scale and growing brand recognition, as well as its ability to execute on strategic initiatives.
The stock rally follows investor optimism over Abacus’s strong profitability and operational metrics. Adjusted EBITDA surged 89% to $31.5 million, while newly introduced performance indicators included an annualized turnover ratio of 2.3x and an average realized gain of 26.3%.
Abacus also announced a $20 million share repurchase program.