Pagaya (PGY) Q4 2024 Earnings Call Transcript

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Tue, December 23, 2025 astatine 10:41 AM CST 42 min read

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Thursday, Feb. 13, 2025 astatine 8:30 a.m. ET

• Chief Executive Officer — Gal Krubiner

• President — Sanjiv Das

• Chief Financial Officer — Evangelos Perros

Gal Krubiner, Chief Executive Officer of Pagaya; Sanjiv Das, President; and Evangelos Perros, Chief Financial Officer. You tin find the materials that travel our prepared remarks and a replay of today's webcast connected the Investor Relations conception of our website astatine investor.pagaya.com. Our remarks contiguous volition see forward-looking statements that are based connected our existent expectations and forecasts with respect to, among different things, our operations and fiscal performance, including our fiscal outlook for the archetypal 4th and afloat twelvemonth of 2025. Our existent results whitethorn disagree materially from those contemplated by these forward-looking statements.

Factors that could origin these results to disagree materially from our expectations see but are not constricted to those risks described successful today's property merchandise and our filings with the US Securities and Exchange Commission. We undertake nary work to update immoderate forward-looking statements arsenic a effect of caller accusation oregon aboriginal events. Please notation to the documents we record from clip to clip with the SEC, including our 10-K, 10-Q, and different reports for a much elaborate treatment of these factors. Additionally, non-GAAP fiscal measures including adjusted EBITDA, adjusted EBITDA margin, adjusted nett income, interest gross little accumulation costs oregon FRLPC, FRLPC arsenic a percent of web measurement and halfway operating expenses volition beryllium discussed connected the call.

Reconciliations to the astir straight comparable GAAP fiscal measures are disposable to the grade disposable without unreasonable efforts successful our net merchandise and different materials which are posted to our capitalist relations website. We promote you to reappraisal the shareholder letter, which was furnished with the SEC connected Form 8-K contiguous for elaborate commentary connected our concern and show successful conjunction with the accompanying earning supplement and property release. With that, fto maine crook the telephone implicit to Gal.

Gal Krubiner: Thank you for joining america contiguous for a treatment of our 4th fourth and afloat twelvemonth 2024 results, arsenic good arsenic an update connected our concern arsenic we participate 2025 connected the strongest wide footing successful our company's history. You volition spot from our property merchandise this greeting that we closed retired 2024 with an yearly gross of much than $1 cardinal up 27% year-over-year, FRLPC of $407 cardinal up 54% year-over-year, and adjusted EBITDA of $210 cardinal up 156% year-over-year. All of our cardinal reported metrics were astatine grounds levels and bushed our anterior guidance.