Pagaya Q1: record volume $2.42B, revenue $245M, adj. EBITDA $40M; POS partner Elavon

Pagaya Technologies Ltd.

2024-Q1 EPS reported -$0.33 revenue$245,276,000

Network volume $2.42B (+31% YoY), total revenue $245M (+31% YoY), both above guidance ranges.
Adjusted EBITDA record $40M (exceeded guidance $32-38M); GAAP operating income $8M, third consecutive positive quarter.
FRLPC $92M (+84% YoY), margin 3.8% (highest in 8 quarters); personal loan FRLPC margin 6.0%.
Raised $1.9B in funding across 5 transactions; added 18 new funding partners; executed $50M whole-loan sale with 1% risk retention.
Onboarding Elavon (US Bank subsidiary) for POS channel, set to go live in 2H2024.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Pagaya Technologies Ltd. reported the first quarter ended March 31, 2024 results: revenue $245 million.

Period: the first quarter ended March 31, 2024
Revenue: $245 million
Result: preliminary results

Exact text from the filing

Quarter 2024 Results ● Delivered another record quarter, exceeding guidance on all metrics: ○ Record Network Volume of $2.42 billion ○ Record Total Revenue and Other Income of $245 million ○ Record Adjusted EBITDA of $40 million ● Onboarding a bank partner in our point-of-sale product New York, NY and Tel Aviv, Israel – May 9, 2024 – Pagaya Technologies Ltd.

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Source: SEC EDGAR

accession 0001883085-24-000076

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