Abacus Global Management (ABX) Q4 2023 earnings summary

Executive summary

• FY 2023 pro forma revenue rose 14% YoY to $79.6M; Q4 revenue grew 25% YoY to $23.6M.

• FY originations capital deployment increased 46% to $218.9M, with policy originations up 30% to 633.

Financial highlights

• FY GAAP net income attributable to shareholders was $8.5M vs. $31.3M; adjusted net income was $29.4M vs. $32.4M.

• FY adjusted EBITDA increased 13% to $39.3M; adjusted EBITDA margin was 49.4% vs. 50.0%.

• Q4 adjusted net income was $5.9M vs. $11.0M; adjusted EBITDA was $11.0M vs. $11.1M.

Outlook and guidance

• Management said it is positioned to sustain growth and develop technology and data solutions for pension funds and financial services.

• ABL Tech officially launched in 2024, supporting the strategic focus on technology, data, and new growth initiatives.