Why Pagaya Technologies Is Skyrocketing Today

Core Insights - Pagaya Technologies' stock surged by 18.2% following the release of its fourth-quarter results, outperforming the S&P 500 and Nasdaq indices [1][2] - The company reported sales of approximately $279.39 million, exceeding analyst expectations, while adjusted earnings per share were $0.17, below the forecast of $0.32 [3][4] Financial Performance - Year-over-year sales growth was approximately 28%, with a record network volume of $2.6 billion, driven primarily by personal loans [4] - Adjusted EBITDA for the quarter was $64 million, surpassing previous guidance of $49 million to $59 million [4] Future Guidance - For Q1, Pagaya anticipates sales between $280 million and $295 million, indicating a growth of roughly 17% at the midpoint [5] - Full-year revenue is projected to be between $1.15 billion and $1.28 billion, suggesting an annual growth of approximately 20.7% at the midpoint [6] - The company expects to achieve GAAP profitability by Q2, with net income projected between $10 million and $40 million for the full year [6][7]