Pagaya Technologies Q3 Adjusted Net Income, Revenue Rise; Narrows 2024 Revenue Outlook; Shares Fall Pre-Bell

MT Newswires Live11-12

Pagaya Technologies (PGY) reported Q3 adjusted net income Tuesday of $0.44 per diluted share, up from $0.22 a year earlier.

Analysts polled by Capital IQ expected $0.27.

Revenue for the quarter ended Sept. 30 was $257.2 million, up from $211.8 million a year earlier.

Analysts surveyed by Capital IQ expected $253.2 million.

The company said it now expects 2024 revenue of $1.01 billion to $1.03 billion, compared with its prior guidance range of $975 million to $1.05 billion. Analysts surveyed by Capital IQ expect $1.01 billion.

Pagaya shares were down 17% in premarket activity Tuesday.

Price: 14.00, Change: -2.89, Percent Change: -17.11

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