Abacus Global Management

Liquidity and leverage are key watch items. Year‑end 2025 cash was ~$38.1 million with total outstanding debt of ~$405.8 million and $38.8 million of FY2025 interest expense; Q1 2026 reported ~$37.2 million cash and ~$330 million debt.

FY2025 operating cash flow was a use of $25.7 million, but Q1 2026 generated $91.7 million, highlighting volatility as capital cycles through originations and policy events. Fixed‑rate senior notes trade under ABXL, and the company emphasizes asset coverage and saleable policy pools for redemption windows.

While we do not see immediate balance‑sheet distress, the model is not fortress‑like and would be tested by adverse mortality/valuation shifts or funding markets tightening.