Abacus Raises 2026 Net Income to $100–$106M; Barrick Contractor Exits Mali
Abacus Global Management raised 2026 adjusted net income guidance to $100–$106 million and produced $91.7 million in Q1 operating cash flow. Barrick’s largest Loulo-Gounkoto contractor is exiting Mali, cutting over 600 jobs as the miner scales back high-risk asset exposure.
1. Abacus Q1 2026 Results and Outlook
Abacus reported Q1 revenue of $59.4 million, up 35% year-over-year, with GAAP net income of $7.3 million (up 59%) and adjusted net income of $20.1 million (up 17%). Operating cash flow reached $91.7 million versus a $61.6 million outflow a year earlier, while total AUM grew to $3.6 billion, including nearly $1 billion in longevity income funds. The company raised full-year 2026 adjusted net income guidance to $100–$106 million and issued Q2 guidance of $24–$26 million.
2. Barrick Contractor Exit in Mali
Barrick’s largest contractor at the Loulo-Gounkoto gold complex will cease operations in Mali, resulting in more than 600 employees being laid off. This decision reflects Barrick’s broader initiative to reduce exposure to higher-risk assets, which may impact on-site support and operational continuity at its key West African complex.