Abacus Global Management, Inc. (ABX) Stock Analysis

Abacus Global Management (ABX), formerly Abacus Life, is an alternative asset manager and market maker focused on life settlements, longevity funds, and actuarial technology. Its Life Solutions segment generated 88% of H1 2026 revenue, while Asset Management contributed 12%; management wants recurring fee revenue to rise from 16% in 2025 to 70% by 2030. **Operating momentum is strong:** Q2 2026 revenue increased 30% year over year to $73.0 million, Adjusted EBITDA rose 27% to $39.9 million, and Adjusted diluted EPS of $0.28 exceeded both consensus and the high end of guidance. However, GAAP net income fell 63% to $6.6 million because of strategic, personnel, acquisition, and platform-build expenses. At the August 14, 2026 closing price of $9.27, ABX had approximately $906.5 million of equity value and traded at 8.8x–9.2x forward non-GAAP P/E on FY2026 EPS guidance of $1.00–$1.05. Near-term catalysts include ABXGX inflows, a potential Q3/Q4 securitization, the $100 million buyback, and Coventry litigation resolution, while actuarial valuation and related-party transaction risks justify the discount.