Abacus Global Management, Inc.

This conference is being recorded. I will now turn the conference over to Garrett Edson of ICR. Thank you. You may begin.

Good day, ladies and gentlemen. Thank you for standing by. Abacus Life refers participants on this call to the investor webpage, www.abacuslife.com slash investors. For the press release, the investor information and filings with the FCC for a discussion of the risks that can affect the business. Abacus Life specifically refers participants to the presentation furnished today on Form 8K with the Securities and Exchange Commission and to remind listeners that some of the comments today may contain forward-looking statements and, as such, will be subject to risks and uncertainties which, if they materialize, could materially affect results. Reference is made to the section titled Forward-Looking Statements and the Company's Earnings Press Release for the Second Quarter of 2024, which is incorporated herein by reference. We know forward-looking statements, whether written or oral, include but are not limited to Abacus Life's expectation or prediction of financial and business performance and conditions, as well as its competitive and industry outlook. Forward-looking statements are subject to risks, uncertainties, and assumptions, including the risk factors set forth in Item 1A of our most recent 10-K, which, if they materialize, could materially affect results, and such forward-looking statements do not guarantee performance, and Abacus Life gives no such assurances. Abacus Life is under no obligation, expressly disclaims any obligation to update, alter, or otherwise revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. In addition, historical data pertaining to the operating results and other performance indicators applicable to Abacus Life are not necessarily indicative of results to be achieved in succeeding periods. I will now turn the call over to Jay Jackson, Chief Executive Officer of Abacus Life.

Thank you to everyone joining us today for your interest in Abacus. And welcome to our second quarter 2024 earnings call. With me today is our Chief Financial Officer, Bill McCauley. And after our prepared remarks, we'll open it up to your questions. It was another quarter of excellent performance for Abacus Life as we continue to successfully execute on our key strategic initiatives. and further solidifying our position as a leading market maker and global alternative asset manager, which will have nearly $3 billion in assets under management post-acquisitions. For the second quarter of 2024, we more than doubled total revenue year-over-year to $29.1 million and recorded strong earnings, growing adjusted EBITDA by 83% year-over-year to $16.7 million. and generating a 75% year-over-year increase in adjusted net income to $11.8 million, or $0.18 per diluted share. Our second quarter performance underscores our thoughtful investments in marketing, which continue to yield excellent results by driving significant year-over-year increases in our direct-to-consumer originations. Meanwhile, the strength of our partnerships with carriers and reinsurers remains a key contributor to our strong performance in both revenue and adjusted EBITDA. Bill will be along shortly to discuss our second quarter financial performance in further detail. In addition to our exceptional quarterly financial results, we also made substantial progress with respect to our long-term strategy. As we outlined during our investor day in June, along with our core business of acquiring life insurance policies, we are focused on expanding our complimentary lifespan-based financial products. Since our last earnings call, we achieved several key strategic milestones. In a pivotal moment for our ABL Wealth Division, subsequent to the quarter end, we announced a definitive agreement to acquire Carlyle Management Company, a premier Luxembourg-based investment manager in the life settlement space. for approximately $200 million. This acquisition will add approximately $2 billion in assets under management and is fully aligned with our strategy to become a global alternative asset manager. In addition to being a great culture fit, Carlyle further enhances Abacus's offering to institutional investors seeking attractive risk-adjusted returns with low correlation to other asset classes. Carlisle has a most impressive and longstanding track record as a fund manager in the life settlement industry and its geographically diverse client base stands to significantly complement our efforts to become a global financial leader. By incorporating Carlisle's expertise and robust portfolio into our offerings, we are strategically positioning ABOL at the heart of our mission to deliver sophisticated investment solutions for the life settlement market. This acquisition highlights our dedication to providing exceptional value and expanding our capabilities to serve a wider range of investor. Along with Carlisle, last week, we entered into an agreement to acquire FCF Advisors, a New York-based asset manager and index provider specializing in free cash flow-focused investment strategies. FCF Advisors has a suite of core and thematic free cash flow equity strategies and offers over 50 customizable free cash flow index strategies covering eight global equities allocations. The deal will add approximately $600 million in assets under management and further accelerates the expansion of ABL Wealth with a diverse lifespan-based suite of products. In late June, we successfully closed an oversubscribed public offering of 11.5 million shares of common stock, including full exercise of the underwriters option, which further broadened our investor base and enhanced our liquidity position. Through this offering, we raised over $90 million in proceeds, which we have rapidly deployed into additional life settlement policies, as well as advancing our overall business strategy. Finally, During the quarter, we established a national distribution relationship with AIMCOR, one of the largest national insurance marketing organizations in the United States. This partnership will leverage AIMCOR's extension network of over 40 broker general agencies to offer protection and retirement solutions to thousands of financial professionals, institutional clients, and other distribution partners nationwide. As a preferred partner for life settlement solutions, Abacus will provide its expertise to AIMCOR's affiliated member firms. This collaboration highlights our commitments to client-centric solutions and enhancing our ability to educate policyholders about the value of their policies and empowering them to make informed financial decisions. All of our achievements over the past few months clearly underscore our relentless commitment to constant innovation through our wealth of longevity data and actuarial technology, offering an incredible value proposition for our clients. and firmly solidifying Abacus as a pioneering global alternative asset manager and market maker. Looking ahead, we're incredibly excited to build upon our success and capitalize on the vast growth opportunities before us. By continuing to leverage our successful business model, exceptional team of experts, and extensive proprietary data and technology, we are strategically positioned for sustainable and profitable growth. ensuring long-term value creation for our shareholders. With that, I'll now hand it over to our CFO, Bill McCauley, to discuss the specifics of our second quarter results in financials.