By Adriano Marchese

Pagaya Technologies shares slipped in premarket trading Monday after the company issued a weaker-than-expected outlook and reported fourth-quarter results that fell short of forecasts.

Shares traded 20% lower ahead of the morning bell at $14.90.

The financial-technology company on Monday said it expects first-quarter revenue to be between $315 million and $335 million, below analyst forecasts of $346.7 million, according to FactSet.

Net income is expected between $15 million and $35 million, with analysts expecting $26.3 million.

Adjusted earnings before interest, taxes, depreciation and amortization are also below analyst forecasts, with Pagaya expecting the figure to come in between $80 million and $95 million, below consensus expectations of $101.7 million.

For the full year, total revenue is expected between $1.4 billion and $1.58 billion, with analysts expecting $1.53 billion.

Net income for the year is projected to be between $100 million and $150 million and adjusted Ebitda between $410 million and $460 million. Analysts expect $149.2 million and $455.7 million, respectively.

For the fourth quarter, Pagaya reported that revenue rose to $334.8 million, on the low end of its prior guidance range of between $333 million and $358 million, and missing analyst forecasts of $349.4 million.

Net income for the quarter was $34.3 million, or 36 cents a share, up from a loss of $237.9 million, or $3.20 a share a year earlier.

Adjusted earnings of 80 cents a share came in 3 cents above analyst forecasts for the quarter.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

February 09, 2026 08:29 ET (13:29 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.