Abacus Global Management, Inc.

Greetings and welcome to the Abacus Global Management First Quarter 2025 Earnings Call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star and then zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Robert Phillips. Thank you. You may begin.

Thank you, Operator, and thank you, everyone, for joining Abacus Global Management's first quarter 2025 earnings call. Here with me today are Jay Jackson, Chairman and Chief Executive Officer, and Bill McCauley, Chief Financial Officer. This afternoon at 4.15 p.m. Eastern Time, Abacus Global Management released its first quarter 2025 results. This afternoon's call will allow participants to ask questions about our results. Before we begin, Abacus Global Management refers participants on this call to the investor webpage ir.abacusgm.com for the press release, the investor information, and filings with the SEC for a discussion of the risks that can affect the business. Abacus Global Management 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. For more information on the risks, uncertainties, and assumptions relating to forward-looking statements, please refer to Abacus Global Management's public filings. During the call, we will reference certain non-GAAP financial measures. Although we believe these measures provide useful supplemental information about our financial performance, they are not recognized measures and do not have standardized meanings under U.S. generally accepted accounting principles or GAAP. Please see our public filings for additional information regarding our non-GAAP financial measures, including references to comparable GAAP measures. With that, I'd now like to turn the call over to Jay Jackson, Chief Executive Officer.

Thanks, Rob. And thank you to everyone joining us today for your interest in Abacus Global Management. And welcome to our first quarter 2025 earnings call. After Bill and I conclude our prepared remarks, we'll open it up to your questions. We are pleased to kick off the new year with a record first quarter of profitable growth while continuing to execute our strategic initiatives to scale and diversify our business. For the first quarter of 2025, we more than doubled total revenue year over year to $44.1 million and recorded strong adjusted earnings, more than doubling adjusted net income to $17.3 million and adjusted EBITDA to $24.5 million year over year. Our strong performance was driven by robust demand for policyholder liquidity. Our excellent first quarter performance positions us very well to achieve our full year 2025 outlook for adjusted net income to be between $70 million and $78 million, which implies another strong year of growth between 51% to 68%. Bill will be along shortly to discuss our first quarter financial performance in further detail. While the macro environment remains uncertain in the near term, we strongly believe Abacus remains well-positioned to successfully navigate through any challenges posed by the current market volatility. Abacus' unique business model provides us with clear strategic advantages. During times of market volatility, policyholders and their financial advisors often look for different ways to access liquidity. Abacus specializes in helping clients unlock the value from their life insurance policies, driving more business opportunities. Market uncertainty also drives increased investor demand for uncorrelated alternative assets to diversify their portfolios from traditional market performance. Abacus's specialized investment products continue to attract increased interest from registered investment advisors looking for differentiated yield products for their clients. Meanwhile, our expanded private fund offerings through our longevity funds have generated strong demand from advisors seeking alternative investment options. By serving both consumers seeking liquidity and investors pursuing uncorrelated assets, we have established a durable business model that we believe can succeed in any market cycle. Additionally, our balance sheet and liquidity position has never been stronger with cash and cash and equivalents of $43.8 million and balance sheet policy assets of $448.1 million as of March 31st, 2025. While we continue to monitor the macro environment closely, we are poised to take advantage of any opportunities that may be caused by any market dislocations. In the first quarter, our asset management offerings continued to gain strong traction with new AUM inflows of $151 million due to our expanded offerings, geographic reach, and the growing institutional interest of private funds that are being stood up specifically to allocate to life insurance policies. Our expanded private fund offerings that launched in late February this year are off to a strong start, with approximately $123 million in new capital inflows in just the first month since launch. Further, our ETFs also saw a positive increase in asset flows in the first quarter, with the Real Assets ETF increasing net new inflows by $44 million. As we highlighted on our prior call, we recently rebranded our company to Abacus Global Management to reflect our evolution and our expanded global market presence. The feedback we received and continue to receive has been extremely encouraging. To that end, in the months ahead, you will see us expand our new brand recognition, including via the launch of a new ad campaign that will focus on all of Abacus Global Management's distinct yet complementary business verticals, namely... Abacus Life Solutions, which provides premium liquidity solutions for life insurance assets, helping thousands of clients maximize the value of their life insurance assets. Since 2004, Abacus has purchased over $10 billion in face value of life insurance policies. Abacus Asset Group, which serves institutional investors and select private clients with specialized uncorrelated and longevity-based assets and investment strategies, fixed income replacement strategies, and free cash flow-based investment solutions. The platform uses proprietary analytics to identify unique investment opportunities that deliver consistent results across market cycles while maintaining strict risk asset management. Abacus Wealth Advisors, which redefines wealth management through our 20-plus years of proprietary data and algorithms that create truly customized financial plans based on health, longevity, and overall financial well-being. and ABL Tech, which leverages our decades of experience in proprietary data to revolutionize the life planning industry through innovative technology solutions, serving pensions, insurance companies, and asset managers. The division has developed platforms that conduct real-time mortality verifications, locate missing participants, and service the secondary life insurance market with unprecedented speed and accuracy. Looking ahead, We are building on our momentum as our growing brand recognition is leading to greater policy originations, increased interest in our asset management offerings, and our expansion into wealth management. As a result, we remain well on track to achieve our full-year financial targets. We remain committed to executing our growth strategy to firmly solidify Abacus as a leader in the alternative asset manager and wealth management space. Our differentiated business model, along with our offerings of uncorrelated assets, position us well to successfully navigate the current uncertain environment and come out even stronger than before. With that, I'll now hand it over to our CFO, Bill McCauley, to discuss the specifics of our first quarter results.