Pagaya Technologies Raises 2024 EBITDA Guidance to $160-200M

Pagaya Technologies Ltd. has just announced a significant increase in its adjusted EBITDA guidance for the full year 2024. The company has raised its outlook range to $160 million-$200 million, reflecting a substantial upward revision from previous expectations. This adjustment comes as Pagaya executes operational initiatives aimed at reducing annual core operating expenses by approximately $25 million, indicating a focus on driving further operational efficiency.

This development underscores the company's commitment to enhancing its financial performance, as evidenced by the improved adjusted EBITDA guidance. This signals a positive trajectory for Pagaya as it continues to navigate the business landscape and make strategic operational decisions to bolster its financial position. Today the company's shares have moved 5.7% to a price of $12.48. Check out the company's full 8-K submission here.

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