PGY Earnings Prediction
The chart below shows how PGY performed 10 days before and after its earnings report, based on data from the past quarters. Typically, PGY sees a -14.94% change in stock price 10 days leading up to the earnings, and a -3.25% change 10 days following the report. On the earnings day itself, the stock moves by +5.64%. This data can give you a slight idea of what to expect for the next quarter's release.
PGY Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
249.28M
23.75%
2.76%
Gross Margin
40.24%
11.56%
0.65%
Operating Margin
5.79%
214.88%
-616.96%
Net Margin
-29.78%
30.56%
-12.62%
EPS
-0.93
-158.33%
-10.58%
No Data Available
PGY Earnings Analysis
Pagaya Technologies Ltd. Class A Ordinary Shares Corporation (PGY.O) Earnings Conference Call
Positive
Financial Performance Overview: P agaya is at an approximate annual rate of $1 billion of revenue, $400 million of fee revenue less production costs, and $220 million in adjusted EBITDA.
Product Impact on Loans: The use of our product has generated over $24 billion of loans with approximately two million customers added or retained by our partners.
Network Volume Growth: We expect next year to have over eight relationships generating over $500 million fair value of network volume, channeling the power of our existing customer franchises.
Revenue Growth Overview: Total revenue grew 21% year-over-year to $257 million with revenue from fees up 24% to $249 million.
EBITDA Growth and Margin Increase: Adjusted EBITDA of $56 million grew by $28 million year-over-year, a margin of 21.8%, up 846 basis points.
Negative
Third Quarter Financials: Reported third quarter total revenue of $257 million, with fee revenue less production costs of $100 million and adjusted EBITDA of $56 million.
Fee Revenue Growth: Fee revenue less production costs grew 38% year-over-year to $100 million, which was meaningfully higher than the growth in our network volume and revenue.
Net Loss Comparison: Net loss attributable to Pagaya was $67 million in the third quarter compared to a net loss of $22 million in 3Q of 2023.
Credit Fair Value Adjustments: Credit-related fair value adjustments reported in other expense amounted to negative $70 million, net of non-controlling interest.
Vintages Loss Recognition: We recognized losses related to vintages originated in 2023 and prior when capital market conditions were much more challenging.
PGY FAQs
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PGY Earning Call Sentiment
Pagaya Technologies Ltd. (PGY) Q3 2024 Earnings Call Transcript
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PGY.O
-5.57%Positive
The earnings call summary presents a positive sentiment overall. The company reported strong financial performance with a 21% revenue increase and improved EBITDA margins. Despite a net loss, adjusted net income was positive, indicating underlying strength. The Q&A session highlighted management's confidence in growth and profitability, although some concerns about credit impairments remain. No shareholder return plan was announced, but the focus on future profitability suggests potential for future returns. The positive financial results and optimistic outlook outweigh the risks, leading to a positive stock price prediction.
