Abacus Global Management, Inc. (ABX) · Nov 5, 2026 · Earnings
Beat — Adjusted EPS $0.29 vs. $0.26–$0.28 Q3 guidance
Abacus earnings beat its Q3 guide, lifted FY 2026 adjusted EPS guidance, and paired stronger cash generation with a 10% dividend increase.
Abacus is building an alternative-asset platform around longevity-linked investments, LifeARC wealth technology, and institutional capital; at the June quarter it had already exceeded its first-half longevity-fund fundraising target and was expanding advisor distribution. This filing says that buildout is translating into faster earnings and cash generation, not merely more strategic initiatives.
The quarter beat the company’s own bar and the outlook moved higher again. Adjusted net income reached $29.4 million versus prior Q3 guidance of $26–$28 million, while adjusted EPS was $0.29 versus $0.26–$0.28. The company raised FY 2026 adjusted net income guidance to $104.5–$106.5 million from the prior $100–$106 million range, and adjusted EPS guidance to $1.05–$1.07 from $1.00–$1.05. There is no dependable published consensus in the filing materials, so the cleanest benchmark is the company’s previous guidance. 〔0〕
| Metric | 3Q26 | 3Q25 | Prior guide |
|---|---|---|---|
| Total revenue (Income Statement) | $76.9M (+22%) | $63.0M | |
| GAAP net income (Income Statement) | $14.5M (+105%) | $7.1M | |
| Adjusted net income (Adjusted Net Income reconciliation) | $29.4M (+24%) | $23.6M | $26M–$28M |
| Adjusted EPS, diluted (Adjusted EPS reconciliation) | $0.29 (+20%) | $0.24 | $0.26–$0.28 |
| Adjusted EBITDA margin (Adjusted EBITDA reconciliation) | 55.0% | 60.2% | |
| FY26 adjusted EPS guidance (Outlook) | $1.05–$1.07 | $1.00–$1.05 prior |
The operating platform is producing more cash and external validation. Nine-month operating cash flow swung to $167.4 million from negative $18.2 million, while longevity-fund inflows reached $452.4 million in the quarter and roughly $997 million year to date versus $604 million for all of 2025. The $400 million securitization was also oversubscribed and upsized, with investment-grade notes, supporting the company’s claim that institutional demand for the asset class is becoming tangible rather than theoretical. 〔1〕
The main caveat is that growth is not yet uniformly clean. Adjusted EBITDA grew 12%, below revenue growth, and its margin fell to 55.0% from 60.2%. Nine-month GAAP net income also declined to $28.4 million from $30.1 million, reflecting heavier general and administrative, acquisition, and growth-related costs. The filing’s earnings improvement is therefore more convincing on adjusted earnings and cash flow than on reported operating leverage.
The dividend increase reinforces confidence but is secondary to the earnings update. The annual dividend rose 10% to $0.22 per share from $0.20, payable December 16, 2026. With cash at $104.0 million and the company also authorized a $100 million repurchase program, Abacus is signaling that it believes current cash generation can support both expansion and shareholder returns, although debt stood at $405.0 million at quarter-end.
Bottom line: This was a clearly better-than-expected quarter against Abacus’s own operating targets, and the second guidance increase makes the platform story more credible. The signal is strongest in cash flow, fundraising, and institutional demand; the falling margin and still-heavy adjusted items keep it from being a complete rewrite of the business profile.
Q4 report and FY 2026 results, early 2027
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