Pagaya Crushes Q2 EPS by 224%, Raises Full-Year Net Income Guidance
PGY sits 71% above its 52-week low of $10.4.
Summary
Pagaya delivered a massive Q2 beat with adjusted EPS of $1.07 versus the $0.33 consensus, driven by 33% network volume growth and 19% revenue growth to $387M. Net income hit $45M and adjusted EBITDA reached $124M, reflecting strong operating leverage as expenses remained stable. The company raised its full-year GAAP net income guidance to $155M-$180M, well above prior expectations, and provided Q3 guidance for network volume and net income. This follows the earlier revenue guidance raise to $1.425B-$1.525B, but the EPS beat and net income outlook are new and significantly stronger than anticipated. The results underscore accelerating momentum in the Auto vertical and expanding partner relationships, with operating income up 87% year-over-year.
At the time of this announcement, PGY was trading at $17.80 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.3B. The 52-week trading range was $10.40 to $44.99. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Reuters.