Welcome to our dedicated page for Abacus Global Management news (Ticker: ABL), a resource for investors and traders seeking the latest updates and insights on Abacus Global Management stock.
Abacus Global Management reports developments in alternative asset management, data-driven wealth solutions, technology innovation and institutional services. Company news centers on longevity-based assets, including life insurance policy assets, origination activity, asset management results and structures designed for institutional buyers.
Recurring updates also cover financial results, capital allocation actions such as dividends and stock repurchase programs, securitized life insurance asset transactions, conference participation and listing or security-related announcements. The company's announcements frame Abacus as a financial services issuer focused on longevity-based assets and personalized financial planning for individuals and institutions.
Abacus Life, Inc. reported a more than doubled total revenue of $21.5 million in the first quarter of 2024, driven by a 59% year-over-year growth in the Direct-to-Consumer division. The company also launched ABL Tech, raised $25 million from the issuance of senior notes, and strengthened its management team. Adjusted EBITDA grew by 38.1% to $11.6 million, with an EBITDA margin of 53.9%. Despite a GAAP net loss of $1.3 million, adjusted net income was $6.7 million. The company had cash equivalents of $65.4 million and repurchased shares worth $11 million.
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