Pagaya Technologies (PGY) Surges 12.8% on Earnings Beat, Higher Outlook

We recently published 10 Stocks Beating the Market with Eye-Popping Gains. Pagaya Technologies Ltd. (NASDAQ:PGY) is one of the best-performing stocks on Monday.

Pagaya Technologies rallied for a second day on Monday, jumping 12.80 percent to close at $27.58 after beating its earnings expectations in the past quarter and raising its growth guidance for the full-year 2025.

In an updated report, Pagaya Technologies Ltd. (NASDAQ:PGY) said it swung to a net income attributable to shareholders of $22.5 million from $67.48 million in the same period last year, beating its earlier guidance of $10 million to $20 million for the period, thanks to revenue growth, lower expenses, and normalized impairments.

Total revenues and other income ended at $350 million, hitting the higher end of its previous revenue guidance and marking a 36 percent growth from the $257 million year-on-year, driven by higher revenues from fees.

Image by MayoFi from Pixabay

Following the results, Pagaya Technologies Ltd. (NASDAQ:PGY) raised its full-year guidance for net profit, revenues, and adjusted EBITDA, among others.

Net income is now targeted at a range of $72 million to $82 million, versus $55 million to $75 million previously.

Revenues are also expected to increase to a range of $1.3 billion to $1.325 billion, from its previous expectations of at least $1.25 billion.

For the fourth quarter alone, net income is projected to settle anywhere between $25 million and $35 million, while revenues are expected to be at $333 million to $358 million.

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Disclosure: None. This article is originally published at Insider Monkey.