Overview

* Pagaya ( PGY ) Q3 total revenue rises 36% yr/yr to $350 mln

* Adjusted net income for Q3 beats analyst expectations significantly

* Adjusted EBITDA for Q3 increases 91% yr/yr to $107 mln

Outlook

* Pagaya ( PGY ) raises full-year revenue guidance to $1,300 mln-$1,325 mln

* Company expects FY25 adjusted EBITDA between $372 mln and $382 mln

* 4Q25 network volume expected between $2.65 bln and $2.9 bln

Result Drivers

* REVENUE GROWTH - Driven by improved economics in Personal Loan and Auto verticals

* NETWORK VOLUME INCREASE - Growth in Auto and Point-of-Sale verticals with focus on prudent underwriting

* EXPENSE REDUCTION - Lower expenses and normalized impairments contributed to net income growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Total $350 mln

Revenue

& Other

Income

Q3 Beat $93 mln $14.42

Adjusted mln (10

Net Analysts

Income )

Q3 Net $23 mln

Income

Q3 $107 mln

Adjusted

EBITDA

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the financial technology (fintech) peer group is "buy"

* Wall Street's median 12-month price target for Pagaya Technologies Ltd ( PGY ) is $39.00, about 37.3% above its November 7 closing price of $24.45

* The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 27 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)