Core Insights - Pagaya Technologies reported quarterly results that fell short of market expectations, resulting in a nearly 24% decline in share price [1] Financial Performance - The company generated $335 million in total revenue and other income for the fourth quarter, marking a 20% year-over-year increase [2] - Network volume increased by only 3% to $2.7 billion, which was below expectations [2] - Non-GAAP net income rose almost sixfold to nearly $78.8 million, or $0.80 per share, surpassing the consensus estimate of $0.35 per share [4] Strategic Changes - The slower growth in network volume and the disparity between revenue and net income growth rates were attributed to Pagaya's strategic exit from its single-family rental (SFR) operations [5] Future Guidance - For the first quarter, Pagaya anticipates network volume to be flat or slightly down, ranging from $2.5 billion to $2.7 billion, with revenue projected between $315 million and $335 million [7] - The company's guidance for the full year includes a network volume range of $11.25 billion to $13 billion and revenue expectations of $1.4 billion to nearly $1.58 billion [8]