Abacus Global Management, Inc. Material Event - What Happened

This summary breaks down recent significant developments at Abacus Global Management, Inc. in clear, accessible language. We've distilled the key information to help you understand the company's latest moves and financial performance.

1. What happened? (The Big News)

Abacus Global Management recently announced its full-year 2025 financial results, reporting a record year. Revenue soared to $210 million, more than doubling its 2024 revenue of $100 million. This marks the company's 11th consecutive quarter of strong earnings growth. Full-year net income reached $36.5 million, or $0.75 per diluted share (GAAP), and $85.7 million, or $1.76 per diluted share, on an Adjusted basis (which typically excludes non-recurring items to show core operational performance). The company also significantly expanded its Adjusted Net Income margin to 41% from 30% in the prior year.

In addition to these strong financial results, Abacus announced several significant strategic moves:

• It acquired a 49% minority stake in Manning & Napier, a prominent wealth advisory firm, for $52.9 million. This strategic investment aims to expand Abacus's presence in the wealth management sector.
• Abacus also completed the acquisition of AccuQuote, a leading online life insurance marketplace, for an undisclosed amount, further broadening its financial services offerings to include integrated protection and wealth solutions.
• For investors, Abacus approved its first-ever annual cash dividend of $0.20 per share, payable on April 15, 2026, to shareholders of record as of March 29, 2026. The company also authorized a $20 million share repurchase program over the next 12 months, returning capital to shareholders.
• Finally, Abacus moved its stock listing to the New York Stock Exchange (NYSE) under the ticker "ABX," effective March 11, 2026, a significant step for increased visibility and liquidity.

2. When did it happen? (The Timeline)

Abacus made these announcements on March 12, 2026, coinciding with the release of its full-year 2025 financial results. The NYSE listing became effective on March 11, 2026. The dividend is payable on April 15, 2026, to shareholders of record as of March 29, 2026.

3. Why did it happen? (The Backstory)

While annual financial results are routine, Abacus's report showcased stellar performance driven by strong execution and strategic initiatives. CEO Jay Jackson highlighted "real results consistently delivered," with revenue growth exceeding 100% and Adjusted Net Income margins expanding to 41%. The company's asset base grew to $3.6 billion from $2.8 billion in 2024, reflecting robust organic growth and prior acquisitions. This strong financial health and consistent achievement of financial targets over 11 consecutive quarters provided the confidence and capital for strategic expansion.

The acquisitions of Manning & Napier and AccuQuote are pivotal to Abacus's long-term strategy of becoming a diversified financial services powerhouse. The 49% stake in Manning & Napier allows Abacus to tap into the growing wealth management market, leveraging Manning & Napier's established client base and advisory expertise while preserving its operational independence. AccuQuote, an online life insurance marketplace, directly enhances Abacus's ability to offer comprehensive "integrated protection, wealth accumulation, and preservation solutions," driving higher recurring revenue and expanding customer acquisition channels.

The decision to pay a dividend and initiate a share repurchase program directly reflects Abacus's strong cash flow generation and management's belief in the company's intrinsic value. Moving to the NYSE aims to enhance the company's profile, attract a broader institutional investor base, and improve stock liquidity, aligning with its goal of becoming a prominent mid-cap company.

4. Why does this matter? (The Significance)

These developments matter for several key reasons:

• Exceptional Financial Performance: Abacus delivered outstanding 2025 results, with revenue more than doubling to $210 million and Adjusted Net Income margins significantly expanding to 41%. This consistent, high-growth performance signals strong operational efficiency and market demand.
• Strategic Market Expansion: The 49% investment in Manning & Napier and the acquisition of AccuQuote are transformative. They strategically position Abacus to capture market share in wealth management and broaden its financial services ecosystem, aiming for increased recurring revenue and diversified income streams. This represents a significant strategic evolution.
• Direct Shareholder Value: The introduction of a $0.20 annual dividend and a $20 million share repurchase program directly rewards shareholders and underscores management's confidence in sustained profitability and future cash flows.
• Enhanced Visibility & Credibility: The NYSE listing is a significant milestone, expected to increase Abacus's market visibility, attract larger institutional investors, and potentially improve stock liquidity and valuation.
• Clear Growth Trajectory: These actions collectively demonstrate Abacus's aggressive pursuit of its long-term vision: becoming a leading mid-cap financial services company with a strong recurring revenue base.

5. Who is affected? (Stakeholder Impact)

These developments will affect various stakeholders:

• Investors: Investors may see increased confidence in Abacus's stock due to its strong financial performance, clear growth strategy, and direct shareholder returns. The acquisitions lay the groundwork for long-term value creation, though integration risks should be considered.
• Employees: While the filing does not detail direct changes, strong company performance typically translates to job security and growth opportunities for Abacus employees. For Manning & Napier and AccuQuote employees, Abacus's involvement as a significant investor or owner could bring new resources and strategic direction. Manning & Napier, however, will likely maintain its operational independence.
• Customers: Abacus customers may benefit from an expanded suite of integrated financial solutions, including enhanced wealth management services through the Manning & Napier partnership and broader protection offerings via AccuQuote. Manning & Napier's clients will continue to receive their advisory services, now backed by Abacus's strategic investment.
• Competitors: Abacus's aggressive expansion into wealth management and broader financial services will intensify competition in these sectors, potentially prompting other firms to re-evaluate their strategies.
• The Company Itself: Abacus's balance sheet will reflect these new investments, and its operational focus will expand to integrate these new capabilities, moving it closer to its long-term goal of becoming a diversified mid-cap financial powerhouse. The company will also face challenges integrating new businesses and managing a minority stake.

6. What happens next? (The Road Ahead)

Regarding the financial results, the company hosted an earnings call on March 12, 2026, to discuss them in detail and address analyst questions. A replay and transcript are typically available on its investor relations website.

For the acquisitions, Abacus will focus on integrating AccuQuote and collaborating with Manning & Napier to realize expected synergies and expand market reach. Investors should look for a new investor presentation on Abacus's website (ir.abacusgm.com), expected to provide more details on its strategic vision and how these acquisitions fit into it.

Looking ahead, Abacus has set an ambitious 2026 outlook, forecasting Adjusted Net Income to grow to between $96 million and $104 million, reflecting continued strong performance and anticipated contributions from its strategic initiatives.

7. What should investors/traders know? (Key Takeaways)

For investors and traders, here's the bottom line:

First, Abacus reported an exceptionally strong 2025, with revenue more than doubling and significant margin expansion. This demonstrates robust operational health and growth momentum. Second, the company is aggressively executing a growth strategy through two key acquisitions: a 49% stake in Manning & Napier and the full acquisition of AccuQuote. These moves aim to diversify revenue streams, expand into high-growth financial sectors, and increase recurring revenue. Third, Abacus is directly rewarding shareholders with its first-ever dividend and a $20 million share repurchase program, signaling strong financial health and management confidence. Fourth, the NYSE listing enhances visibility and potential liquidity.

Key Considerations: While the outlook is positive, investors should evaluate the integration risks associated with the acquisitions and how the minority stake in Manning & Napier will contribute to Abacus's overall strategy and financial results. Review the full earnings report (Exhibit 99.1) and the upcoming investor presentation for comprehensive details on financial performance, strategic rationale, and future guidance. Monitor the market's reaction to these significant developments.