Pagaya Technologies Ltd. Class A Ordinary Shares Earnings Recaps
Q1 2026
May 8, 2026
Pagaya's shares edged up modestly by 2.4% following Q1 2026 results, reflecting steady execution but no clear catalyst to drive a stronger market response.
Key takeaways
- Reported GAAP net income of $25 million, marking five consecutive quarters of profitability.
- Maintained a cautious credit posture in the quarter, consistent with Q4 2025, avoiding risk extension despite some seasonal tailwinds.
- Raised $2.1 billion in funding, onboarding five new investors, and expanded presence in public ABS markets with Fitch joining as a major rating agency.
- Auto loan segment achieved record volume, becoming a key growth driver supported by product enhancements and pricing efficiency.
- Continued expansion of partner network with four new onboards and progress in regional bank relationships.
Q3 2025
Nov 10, 2025
Pagaya Technologies Ltd. reported strong third quarter results, achieving consistent GAAP net income profitability and setting an annualized exit rate of over $120 million, reflecting robust growth and strategic operational execution.
Key takeaways
- Record quarterly network volume reached $2.8 billion, with a 12% sequential application flow growth, indicating strong scalability.
- Successful expansion of partner relationships, with the onboarding of up to eight new partners, maximizing product engagement across diverse asset classes.
- Issued $1.8 billion in ABS across multiple transactions, bolstering capital efficiency and expanding funding diversity.
- Consistent application-to-funding conversion rate held at 1%, demonstrating effective pipeline management and solid conversion strategies.
- Progress towards multi-year contracts with key partners, enhancing long-term revenue stability and positioning Pagaya as a fundamental utility for U.S. lenders.