Pagaya Technologies Ltd. announced preliminary financial results for the second quarter ended June 30, 2025, indicating that the company expects to exceed the top end of its prior guidance across most metrics. This announcement was made in connection with the company's ongoing evaluation of opportunities to optimize its balance sheet and lower the cost of capital.
Preliminary expected results for Q2 2025 include Network Volume of approximately $2.6 billion, surpassing the guidance of $2.3 billion to $2.5 billion. Total Revenue is expected to be approximately $326 million, exceeding the $290 million to $310 million guidance. GAAP Net Income is projected at approximately $17 million, significantly higher than the $0 to $10 million guidance.
Adjusted EBITDA is expected to be approximately $86 million, compared to the guidance of $75 million to $90 million. CFO Evangelos Perros stated that these preliminary results reflect continued strong execution with a focus on consistent and profitable growth. The company reiterated that it neither needs nor plans to issue equity or equity-linked instruments in the foreseeable future.
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