Abacus Life Reports Third Quarter 2024 Results
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Abacus Life, Inc. reported strong third-quarter 2024 results with a 33% increase in total revenue to $28.1 million. Despite a GAAP net loss of $5.1 million due to a non-cash increase in warrant liability, the company achieved a 65% growth in adjusted net income to $14.9 million and a 54% increase in adjusted EBITDA to $16.7 million.
November 07, 2024 | 9:30 pm
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Abacus Life, Inc. reported a 33% increase in Q3 2024 revenue to $28.1 million. Despite a GAAP net loss due to a non-cash warrant liability, adjusted net income grew 65% to $14.9 million, and adjusted EBITDA increased 54% to $16.7 million.
The significant growth in revenue, adjusted net income, and EBITDA indicates strong operational performance, which is positive for the stock. The GAAP net loss is due to a non-cash item, which investors may overlook given the strong adjusted figures.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100