Pagaya Technologies' Revenue Jumps 28%
Pagaya Technologies delivered impressive fourth-quarter results, surpassing analysts' estimates on multiple metrics.
Pagaya Technologies (NASDAQ:PGY), a leader in AI-powered financial technology solutions, released its fourth-quarter results on Feb. 13. The company reported non-GAAP EPS of $0.17, far exceeding the consensus estimate for a loss of $0.52 per share. Total revenue for the quarter was $279 million, surpassing projections and reflecting strong year-over-year growth. The results paint a robust picture for the period, with Pagaya Technologies demonstrating its capacity to leverage its technology to gain market share.
Source: Analysts' estimates for the quarter provided by FactSet.
Founded with a mission to revolutionize financial services, Pagaya Technologies harnesses artificial intelligence (AI) to refine credit evaluation processes. The company's platform has facilitated over $1.8 trillion in loan applications. It excels in real-time risk assessment and credit decision-making, offering a significant competitive advantage. The company's recent focus has been on enhancing its data network and expanding its market presence into auto loans and point-of-sale credit products.
