Shares of Pagaya Technologies Ltd. (PGY) gained over 17% on Thursday morning after the company released preliminary second-quarter 2025 results.
The stock opened at $26.00, up from Wednesday's close of $23.53. The trading volume rose to 4.5 million shares, more than double its average daily volume.
The fintech platform reported that network volume is expected to reach approximately $2.6 billion, topping the prior guidance range of $2.3 to $2.5 billion. Total revenue is estimated at $326 million, well above the guidance of $290 to $310 million. GAAP net income is projected at $17 million, and adjusted EBITDA at $86 million, both above or at the high end of earlier expectations.
"Our second-quarter results reflect continued strong execution across our network, with a focus on consistent and profitable growth," said Evangelos Perros, CFO of Pagaya.
Pagaya is scheduled to release its second results and host an earnings call on August 7, 2025.
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