Pagaya Technologies Ltd. announced its financial results for the fourth quarter and full year ended December 31, 2024. For Q4 2024, total revenue and other income reached $279.394 million, a 28% increase year-over-year from $218.044 million in Q4 2023. Full year 2024 total revenue and other income was $1.032 billion, up 27% from $812.051 million in 2023.
The company reported a significant net loss attributable to Pagaya Technologies Ltd. of $(237.922) million for Q4 2024, compared to $(14.418) million in Q4 2023. This loss was primarily due to a $(272.280) million "other expense, net," which included re-marking investments in loans and securities from 2021-2023 vintages. Management stated these legacy issues are now addressed and not expected to materially impact future performance.
Looking ahead, Pagaya provided optimistic guidance for 2025, expecting to achieve GAAP net income profitability in the second quarter of 2025. Full year 2025 guidance includes Network Volume between $10.25 billion and $11.75 billion, Total Revenue and Other Income between $1.15 billion and $1.275 billion, and GAAP Net Income between ($10) million and $40 million. Adjusted EBITDA is projected to be between $265 million and $315 million.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.