Abacus Global Management (ABX) Q3 2026 earnings summary

Executive summary

• Record Q3 revenue was $76.9M, up 22% YoY; adjusted EBITDA was $42.3M and adjusted net income was $29.4M.

• FY26 adjusted net income guidance increased to $104.5M–$106.5M; longevity fund inflows reached ~$997M through Q3, versus $604M for all of 2025.

• Strategy focuses on scaling fee-related earnings, capital-efficient origination and technology, with securitization adding a funding and distribution channel.

Financial highlights

• Q3 revenue was $76.9M versus $63.0M; adjusted EBITDA was $42.3M versus $37.9M, and adjusted net income was $29.4M versus $23.6M.

• GAAP net income attributable to shareholders was $14.5M versus $7.1M in Q3 2025; nine-month adjusted net income was $76.6M versus $62.7M.

• Nine-month revenue was $209.3M versus $163.3M; YTD operating cash flow was $167.4M versus $(18.2)M.

• Q3 adjusted EPS was $0.29; operating expenses rose 32% to $43.4M, mainly reflecting higher legal and professional fees.

• Quarter-end cash was $104.0M and policy assets at fair value were $370.0M; YTD operating cash flow was $1.46 per $1 of adjusted EBITDA.

Outlook and guidance

• FY26 adjusted net income guidance increased to $104.5M–$106.5M and adjusted EPS to $1.05–$1.07; the range implies 22%–24% YoY adjusted net income growth.

• Q4 adjusted net income guidance is $28M–$30M and adjusted EPS is $0.28–$0.30; Q4 EPS growth is projected up to 30% YoY.

• Outlook cites consistent longevity fund inflows, rising fee-related earnings from higher AUM, institutional demand and disciplined capital allocation.

• The next securitization is in preparation for Q1 2027; management targets two to three annually, with deal size shaped by portfolio composition and diversification needs.

• Management expects measured capital-deployment growth in 2027–28 and fund platform flows to begin building in Q1.