Pagaya Technologies: Completely Overdone
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Pagaya Technologies Ltd., a fintech company, reported a record Q3 revenue of $257 million, driven by a 24% increase in fee revenue and 11% network volume growth. Despite a net loss due to non-cash items, the company achieved a record adjusted EBITDA of $56 million with a margin of 21.8%.
November 12, 2024 | 5:45 pm
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Pagaya Technologies reported strong Q3 results with record revenue and adjusted EBITDA, despite a net loss due to non-cash items. The company's growth in fee revenue and network volume is notable.
The record revenue and adjusted EBITDA indicate strong operational performance, which is likely to positively impact the stock price in the short term. The net loss is attributed to non-cash items, which investors may overlook given the strong revenue and EBITDA figures.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100