Pagaya Technologies Q1 Adjusted Earnings, Revenue Rise; Jonathan Dobres to Succeed Evangelos Perros as CFO

MT Newswires Live05-07

Pagaya Technologies (PGY) shares were up about 5.1% in Thursday trading after the company reported higher Q1 results.

The company reported Q1 adjusted earnings Thursday of $0.73 per diluted share, up from $0.69 per share a year earlier.

Analysts polled by FactSet expected $0.56.

Revenue for the quarter ended March 31 was $317.9 million, increasing from $290 million a year earlier.

Analysts surveyed by FactSet expected $323.8 million.

The company expects revenue for Q2 in the range of $345 million to $365 million. Analysts polled by FactSet estimate $367.5 million.

For the full year, the company expects total revenue and other income of $1.40 billion to $1.58 billion. Analysts polled by FactSet expect $1.48 billion.

The company named Jonathan Dobres to succeed Evangelos Perros as chief financial officer, effective June 15.

Dobres most recently served as the financial technology firm's chief strategy officer, the company said.

Perros will become a strategic executive advisor to the chief executive officer through Dec. 31, 2026, with a focus on building out the company's long-term funding strategy, the company added.

Price: 15.43, Change: +0.60, Percent Change: +4.07

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