Pagaya reports Q2 results expected to exceed guidance

Pagaya Technologies Ltd. (NASDAQ: PGY) announced preliminary second quarter results that exceed prior guidance across most metrics, according to a press release statement.

The company expects network volume of approximately $2.6 billion, surpassing the guidance range of $2.3 to $2.5 billion. Total revenue is anticipated to reach approximately $326 million, above the $290 to $310 million guidance range.

GAAP net income is expected to be approximately $17 million, significantly exceeding the guidance range of $0 to $10 million. Adjusted EBITDA is projected at approximately $86 million, near the upper end of the $75 to $90 million guidance range.

"Our second-quarter results reflect continued strong execution across our network, with a focus on consistent and profitable growth," said Evangelos Perros, CFO of Pagaya.

The company made this announcement in connection with its evaluation of opportunities to optimize its balance sheet and lower the cost of capital on existing debt. Pagaya stated it neither needs nor plans to issue equity or equity-linked instruments in the foreseeable future.

Pagaya has not completed its financial closing procedures for the quarter ended June 30, 2025, and actual results may differ from these preliminary estimates. The company will report final second quarter results and host a conference call on August 7, 2025.

The preliminary results have not been audited, reviewed, or compiled by the company's independent registered public accounting firm.

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