secwatch.observer — SEC 8-K summary
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Issuer:     Pagaya Technologies Ltd. (PGY)
CIK:        0001883085
Form:       8-K
Filed at:   2024-06-06T23:59:59+00:00
Accession:  0001628280-24-026963
Event type: other_material
Sentiment:  positive
Materiality: 0.60
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pagaya raises FY24 adj. EBITDA guidance to $160-200M, cites $25M cost savings
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- Workforce reduction and other initiatives expected to reduce annual core operating expenses by ~$25M.
- FY2024 Adjusted EBITDA guidance raised by $10M to $160M-$200M from prior $150M-$190M.
- Full-year 2024 network volume and total revenue and other income outlook unchanged.
- A portion of cost savings will be reinvested into key growth areas.
- Full impact of cost savings expected to be realized in 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1883085/000162828024026963/0001628280-24-026963-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1883085/000162828024026963/pgy-20240606.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-026963

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