Abacus Life Provides Preliminary Q3 2024 Results; Expects Total Revenue Between $26M-$28M
Portfolio Pulse from Benzinga Newsdesk
Abacus Life, Inc. (NASDAQ: ABL) announced preliminary Q3 2024 results, expecting revenue between $26M-$28M, a 23-33% YoY growth. However, a non-cash increase in warrant liability is expected to result in a GAAP net loss of $6M-$6.75M. Adjusted EBITDA is projected to grow 30-48% YoY.
October 22, 2024 | 12:27 pm
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Abacus Life expects Q3 2024 revenue growth of 23-33% YoY, but a GAAP net loss due to a non-cash increase in warrant liability. Adjusted EBITDA is projected to grow 30-48% YoY.
The expected revenue growth is positive, but the anticipated GAAP net loss due to warrant liability could offset investor sentiment. The strong growth in Adjusted EBITDA is a positive indicator, but the overall impact on stock price is likely neutral in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100