Pagaya Raises 2024 Adjusted EBITDA Guidance as it Drives Further Operational Efficiency
Pagaya Technologies Ltd. (PGY)
Company Research
Source: Business Wire
Company executes operational initiatives that are expected to reduce annual core operating expenses by approximately $25 millionPagaya raises its Adjusted EBITDA outlook range for full-year 2024 to $160 million-$200 million NEW YORK--(BUSINESS WIRE)--Pagaya Technologies LTD. (NASDAQ: PGY) ("Pagaya" or “the Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced that the Company is executing initiatives to drive enhanced profitability and achieve its goal of reaching positive net cash flow, by further streamlining its operations and accelerating its key growth priorities.The Company anticipates these initiatives, which include a workforce reduction, will result in annualized gross cost savings of approximately $25 million, a portion of which is expected to be reinvested in key growth areas. As a result, Pagaya is raising its full-year 2024 outlook range for Adjusted EBITDA to $160 million to $200 million, an increase
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PGY
News
- Pagaya's CEO named an Entrepreneur Of The Year® 2024 Award Winner [Yahoo! Finance]Yahoo! Finance
- Pagaya’s CEO named an Entrepreneur Of The Year® 2024 Award WinnerBusiness Wire
- Institutions own 27% of Pagaya Technologies Ltd. (NASDAQ:PGY) shares but individual investors control 28% of the company [Yahoo! Finance]Yahoo! Finance
- KBRA Assigns Preliminary Ratings to Research-Driven Pagaya Motor Asset Trust 2024-2 and Research-Driven Pagaya Motor Trust 2024-2 [Yahoo! Finance]Yahoo! Finance
- Pagaya Technologies Ltd. (NASDAQ: PGY) is now covered by analysts at Keefe, Bruyette & Woods. They set an "outperform" rating and a $23.00 price target on the stock.MarketBeat
PGY
Earnings
- 5/9/24 - Beat
PGY
Sec Filings
- 6/26/24 - Form 4
- 6/26/24 - Form 4
- 6/25/24 - Form 144
- PGY's page on the SEC website