Pagaya Technologies Ltd. (NASDAQ: PGY) shares sank at the opening Friday, on announcing financial results for the second quarter of 2024.The company reported record total revenue and other income of $250 million (exceeding outlook of $235 million to $245 million) increased by 28% year-over-year, driven by a 31% increase in revenue from fees, and is now at an annual run-rate of approximately $1 billion.Net loss attributable to Pagaya shareholders of $75 million was impacted by non-cash items such as fair value adjustments and share-based compensation.Adjusted net income of $7 million, which…
Category: News
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