NASDAQ$PGY
Pagaya Technologies Ltd · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Pagaya exceeded guidance and delivered record results across key metrics, driven by disciplined execution and strategic partnerships.
Pagaya Technologies reported a record first quarter, exceeding guidance on all metrics. Key highlights include record network volume, total revenue, and adjusted EBITDA. The company also onboarded a bank partner in its point-of-sale product and strengthened its capital position through corporate debt and equity raises.
- Record network volume of $2.42 billion, a 31% increase year-over-year.
- Expanded POS business with a new bank partner set to go live in the second half of 2024.
- Record total revenue and other income of $245 million, up 31% year-over-year.
- Raised $330 million through corporate debt and equity raises, strengthening capital position.
Headline financials
Revenue & EPS history
Pagaya · Revenue · Quarterly
$245M
Forward guidance
For the second quarter of 2024, Pagaya expects Network Volume to be between $2.2 billion and $2.4 billion, Total Revenue and Other Income to be between $235 million and $245 million, and Adjusted EBITDA to be between $40 million and $45 million. For the full year 2024, Pagaya expects Network Volume to be between $9.0 billion and $10.5 billion, Total Revenue and Other Income to be between $925 million and $1,050 million, and Adjusted EBITDA to be between $150 million and $190 million.
Tailwinds
- Network Volume Expected to be between $2.2 billion and $2.4 billion
- Total Revenue and Other Income Expected to be between $235 million and $245 million
- Adjusted EBITDA Expected to be between $40 million and $45 million
- Network Volume Expected to be between $9.0 billion and $10.5 billion
- Total Revenue and Other Income Expected to be between $925 million and $1,050 million
Headwinds
- Cannot reconcile its expected Adjusted EBITDA to expected Net Loss Attributable to Pagaya under “Full-Year 2024 Outlook” without unreasonable effort
- because certain items that impact net income (loss) and other reconciling items are out of the Company's control
- or cannot be reasonably predicted at this time
- which unavailable information could have a significant impact on the Company’s U.S. GAAP financial results.
- forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause the Company's actual results, performance or achievements to be materially different from any future results
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
-0.4%
Avg return
Earnings day
-2.8%
Avg return
5 days after
-8.5%
Avg return
30 days after
45%
9 / 20 earnings
Positive
+24.3%
Q4 2024
Best reaction
-39.7%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.3% | -8.9% | -1.8% | |
| Q4 2025 | -23.9% | -33.3% | -38.4% | |
| Q3 2025 | +12.7% | -2.2% | +1.0% | |
| Q1 2025 | -2.4% | +33.6% | +52.4% | |
| Q4 2024 | +24.3% | +43.9% | -10.4% | |
| Q3 2024 | -39.7% | -47.8% | -43.9% | |
| Q2 2024 | -21.5% | -18.8% | -18.7% | |
| Q1 2024 | +20.8% | +16.8% | +17.6% | |
| Q4 2023 | +15.4% | +15.4% | -34.4% | |
| Q3 2023 | +9.3% | +4.7% | +14.0% | |
| Q2 2023 | +9.1% | -9.5% | -7.4% | |
| Q1 2023 | -7.2% | -4.6% | +25.8% | |
| Q4 2020 | -2.6% | -9.3% | -3.1% | |
| Q4 2021 | -2.6% | -9.3% | -3.1% | |
| Q4 2022 | -3.7% | -8.2% | -26.1% | |
| Q3 2022 | +10.2% | +0.0% | -42.5% | |
| Q2 2022 | -9.0% | -17.6% | -51.4% | |
| Q1 2022 | -0.3% | -0.1% | -0.2% | |
| Q3 2021 | +0.2% | +0.2% | +1.2% | |
| Q2 2021 | -0.1% | -0.3% | -0.5% | |
| Q1 2021 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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