The Infrastructure Is Coming to Life

Aug 20, 2026

Jay Jackson

Jay Jackson

Chairman & CEO

Abacus reported Q2 results this week and the momentum continued: revenue hit $73 million, up 30% year-over-year; adjusted net income came in at $27.1 million, exceeding our guidance; and adjusted EBITDA margins held above 54% even as we invested heavily in the platform.

These numbers matter. But as I’ve been writing on this Substack, what matters more is the foundation we’re building underneath them.

Three Infrastructure Pieces

This quarter, we began tokenizing in-force life insurance policies. For each policy in the program, there is now an immutable, on-chain record showing who owns it, what liens are attached, and what cash flows belong to whom. That brings a level of transparency and liquidity to the secondary life insurance market that has never existed before. The infrastructure that makes life insurance investable just became more accessible and more efficient.

Just after the quarter closed, we launched the ABX Longevity Growth and Income Fund. For the first time, individual investors can access the longevity strategy directly—an asset class that has historically been available only to institutions. And this isn’t through a complex separate account—it’s a registered fund, accessible through financial advisors.

Finally, the Manning & Napier partnership is live and already proving the concept. We’ve established a live referral channel, and LifeARC is now rolling out across their advisor network. This is the flywheel turning: policy owners can now build long-term plans with data that actually reflects their lifespan.

Why This Matters

Longevity funds raised $544.2 million in the first half, surpassing our $500 million target—and nearly matching what we raised in all of last year. That’s capital flowing into the platform because the infrastructure works. Advisors, institutional allocators, and now individual investors are seeing it and accessing it.

The cash tells the same story. Operating cash flow reached $130.9 million year-to-date, up from $14.5 million in the same period last year—a sign that the platform is generating cash at scale as longevity fund AUM grows.

Building this infrastructure isn’t free—it takes deliberate, sustained investment in the platform. But that’s precisely the investment the cash flow and capital inflows are already validating.

With three new pieces of infrastructure live and the flywheel accelerating, the second half is about scale: deepening the Manning & Napier rollout, growing the interval fund, and expanding the tokenized policy record. The market told us what it needed. We’re building it—and it’s coming to life.

Recommended For You