Pagaya Technologies Posts Wider Loss In Q2 - Quick Facts

(RTTNews) - Pagaya Technologies Ltd. (PGY) posted a second quarter net loss to Pagaya of $74.8 million or $1.04 per share compared to a loss of $31.3 million or $0.53 per share, prior year. The company said its net loss to shareholders was impacted by non-cash items such as fair value adjustments and share-based compensation. Adjusted net income per share increased to $0.10 from $0.01.

Second quarter revenue from fees increased to $242.59 million from $185.69 million, prior year. Network volume was $2.3 billion, grew by 19% year-over-year.

For full year 2024, the company expects total revenue and other income to be between $975 million and $1.05 billion. The company expects third quarter total revenue and other income to be between $250 million and $260 million.

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