Abacus Global Management, Inc.
ABX, ABXL · Investment Advice · 95.9M shares · +19%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: -$33M (gross $11M, SBC $43M)
Reference price $8.38 · est. market cap ~$804M — last insider sale, 2026-02-18 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C64Abacus Global Management — life-settlement/alternative-asset manager, profitable but cash-burning.
Strengths
- Operating margin 38% (100th pct), gross (89th); profitable underwriting
Risks
- Negative free cash flow (12th pct); weak liquidity (current 0.47)
- Life-settlement-valuation and funding sensitivity
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Auditor changeRecent 8-K item 4.01 8-K ↗
- Cash burnNegative free cash flow (-26.6M)
- Weak liquidityCurrent ratio 0.47 (<1)
- Material weakness• Failure to maintain adequate financial, information technology and management processes and controls could result in material weaknesses and lead to errors in our financial reporting, which could ad
- Chronic dilutionShare count +19%/yr over 2y (dilution)
- Revenue declineRevenue -17.4% YoY
- Insider sellingInsider selling — 3 open-market sale(s) by 3 insider(s) (cluster of 3 insiders, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
87.7%
Operating margin
37.7%
Net margin
15.5%
Return on assets
4.0%
Revenue growth (QoQ)
-17.4%
Net debt / EBITDA
2.3×
Current ratio
0.5×
Free cash flow
-$27M
EBITDA
$107M
Cash & investments
$41M
Cash runway
6q
Stock comp / revenue
6.6%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-08 | Kirby Kevin Scott | Tax withheld | 28K | $9.08 |
| 2026-05-08 | McNealy Sean | Tax withheld | 28K | $9.08 |
| 2026-05-08 | McCauley William Hugh JR | Tax withheld | 47K | $9.08 |
| 2026-05-08 | Jackson Jay J | Tax withheld | 96K | $9.08 |
| 2026-05-08 | Ganovsky Matthew | Tax withheld | 28K | $9.08 |
| 2026-03-12 | Radka Karla | Grant | 17K | $10.10 |
| 2026-03-12 | Jackson Jay J | Grant | 730K | $10.10 |
| 2026-03-12 | McCauley William Hugh JR | Grant | 358K | $10.10 |
| 2026-03-12 | McNealy Sean | Grant | 212K | $10.10 |
| 2026-03-12 | Kirby Kevin Scott | Grant | 212K | $10.10 |
| 2026-03-12 | Ganovsky Matthew | Grant | 212K | $10.10 |
| 2026-03-12 | Corbett Thomas Wingett JR | Grant | 17K | $10.10 |
| 2026-03-12 | van Katwijk Cornelis Michiel | Grant | 17K | $10.10 |
| 2026-03-12 | Gusky Adam Samuel | Grant | 17K | $10.10 |
| 2026-03-12 | Schulte Mary Beth | Grant | 21K | $10.10 |
| 2026-02-18 | McNealy Sean | Sell | 2.4K | $8.38 |
| 2026-02-18 | Ganovsky Matthew | Sell | 2.4K | $8.38 |
| 2026-02-18 | Kirby Kevin Scott | Sell | 2.4K | $8.38 |
| 2026-02-13 | McNealy Sean | Grant | 8.0K | $8.40 |
| 2026-02-13 | Kirby Kevin Scott | Grant | 8.0K | $8.40 |
| 2026-02-13 | Jackson Jay J | Grant | 8.0K | $8.40 |
| 2026-02-13 | Ganovsky Matthew | Grant | 8.0K | $8.40 |
| 2025-08-06 | Ganovsky Matthew | Gift | 1.5M | — |
| 2025-07-03 | McCauley William Hugh JR | Grant | 283K | — |
| 2025-06-04 | Kirby Kevin Scott | Buy | 86K | $5.77 |
| 2025-06-04 | McNealy Sean | Buy | 86K | $5.77 |
| 2025-06-04 | Kirby Kevin Scott | Buy | 86K | $5.77 |
| 2025-06-04 | McNealy Sean | Buy | 86K | $5.77 |
| 2025-06-04 | McCauley William Hugh JR | Buy | 33K | $5.82 |
| 2025-04-02 | Radka Karla | Grant | 10K | — |
| 2025-04-02 | Corbett Thomas Wingett JR | Grant | 10K | — |
| 2025-04-02 | van Katwijk Cornelis Michiel | Grant | 10K | — |
| 2025-04-02 | Schulte Mary Beth | Grant | 12K | — |
| 2025-04-02 | Gusky Adam Samuel | Grant | 10K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-10 | Reg FDExhibits | filing ↗ |
| 2026-06-04 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2026-05-27 | OtherExhibits | filing ↗ |
| 2026-05-07 | ResultsReg FDExhibits | filing ↗ |
| 2026-04-21 | Exec/director changeExhibits | filing ↗ |
| 2026-03-18 | Auditor changeExec/director changeExhibits | filing ↗ |
| 2026-03-12 | ResultsReg FDExhibits | filing ↗ |
| 2026-01-30 | Reg FDOtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-10 | 2026-06-10 | 0001628280-26-042072 ↗ |
| 8-K | 2026-06-04 | 2026-06-03 | 0001628280-26-040854 ↗ |
| 8-K | 2026-05-27 | 2026-05-27 | 0001628280-26-038331 ↗ |
| 10-Q | 2026-05-11 | 2026-03-31 | 0001628280-26-033136 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001628280-26-032209 ↗ |
| 8-K | 2026-04-21 | 2026-04-17 | 0001628280-26-026306 ↗ |
| 8-K | 2026-03-18 | 2026-03-12 | 0001628280-26-019440 ↗ |
| 10-K | 2026-03-13 | 2025-12-31 | 0001628280-26-017775 ↗ |
| 8-K | 2026-03-12 | 2026-03-12 | 0001628280-26-017274 ↗ |
| 8-K | 2026-01-30 | 2026-01-30 | 0001628280-26-004416 ↗ |
| 8-K | 2026-01-09 | 2026-01-08 | 0001628280-26-001644 ↗ |
| 8-K | 2025-12-29 | 2025-12-29 | 0001628280-25-059007 ↗ |