Shares of Abacus Global Management (ABL) surged 8.11% in Friday's pre-market trading following the release of its impressive fourth-quarter and full-year 2024 financial results. The company reported record revenue growth and a strong outlook for 2025, driving investor enthusiasm.
Abacus Global Management's Q4 2024 performance exceeded expectations, with total revenue reaching $33.2 million, marking a 40% increase year-over-year. The full-year 2024 revenue soared to $111.9 million, representing a remarkable 69% growth compared to the previous year. Notably, the company's adjusted net income for Q4 2024 skyrocketed by 126% to $13.4 million, while the full-year adjusted net income rose 58% to $46.5 million.
The company's growth strategy also included two strategic acquisitions, adding approximately $2.6 billion in assets under management. This expansion, coupled with a strong liquidity position bolstered by $181.7 million raised through oversubscribed offerings, has set the stage for continued growth. Investors are particularly encouraged by Abacus's 2025 outlook, which projects adjusted net income growth between 51% and 68%. Despite some challenges, including a GAAP net loss in Q4 due to non-cash expenses, the market appears focused on the company's robust fundamental performance and promising future prospects.
