Pagaya Raises 2024 Adjusted EBITDA Guidance To $160M-$200M, An Increase Of $10M From Its Previous Outlook; Executes Operational Initiatives That Are Expected To Reduce Annual Core Operating Expenses By ~$25M
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Pagaya Technologies LTD. (NASDAQ: PGY) has raised its 2024 Adjusted EBITDA guidance to $160M-$200M, an increase of $10M from its previous outlook. The company is implementing operational initiatives expected to reduce annual core operating expenses by approximately $25M, including a workforce reduction. These savings will be partially reinvested in key growth areas.
June 06, 2024 | 12:04 pm
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Pagaya Technologies has raised its 2024 Adjusted EBITDA guidance to $160M-$200M, reflecting a $10M increase. The company is implementing cost-saving measures, including a workforce reduction, expected to save $25M annually. These savings will be partially reinvested in growth areas.
The increase in EBITDA guidance and cost-saving measures are positive indicators for Pagaya's financial health and profitability. The market is likely to respond favorably to the improved outlook and operational efficiency.
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