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NEW YORK - Pagaya Technologies Ltd. (NASDAQ:PGY) reported better-than-expected first quarter results and raised its full-year guidance on Wednesday.
The company’s shares soared 11.84% in premarket trading after the earnings release.
The company posted adjusted earnings per share of $0.69, significantly beating analyst estimates of a $0.17 loss. Revenue came in at $289.98 million, topping the consensus forecast of $286.3 million and representing an 18% increase YoY.
Pagaya’s strong performance was driven by a 19% YoY increase in revenue from fees, which reached $282.7 million. The company also reported record adjusted EBITDA of $80 million, up 100% from the same period last year.
"Pagaya has entered a new era in 2025—an era of profitability," said Gal Krubiner, co-founder and CEO of Pagaya Technologies. "Our focus is clear: growing profit and creating long-term value for our shareholders while bridging Wall Street and Main Street."
Looking ahead, Pagaya raised its full-year 2025 revenue guidance to a range of $1.175 billion to $1.3 billion, up from its previous forecast and above the analyst consensus of $1.19 billion. The company also expects second quarter revenue between $290 million and $310 million, surpassing the $286.2 million analyst estimate.
The strong results and optimistic outlook reflect Pagaya’s successful execution of its strategy to leverage AI technology in the financial sector.
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