Earnings summaries and quarterly performance for Pagaya Technologies.
Executive leadership at Pagaya Technologies.
Gal Krubiner
Detailed
Chief Executive Officer
CEO
AP
Avital Pardo
Detailed
Chief Technology Officer
CV
Cory Vieira
Detailed
Chief Accounting Officer
EP
Evangelos Perros
Detailed
Chief Financial Officer
SD
Sanjiv Das
Detailed
President
TR
Tami Rosen
Detailed
Chief Development Officer
YY
Yahav Yulzari
Detailed
Chief Business Officer
Board of directors at Pagaya Technologies.
Research analysts who have asked questions during Pagaya Technologies earnings calls.
JH
John Hecht
Jefferies
5 questions for PGY
Also covers: AFRM, ARCC, CACC +22 more
Peter Christiansen
Citigroup Inc.
4 questions for PGY
Also covers: ADP, ADT, ALIT +12 more
DS
David Scharf
Citizens Capital Markets and Advisory
3 questions for PGY
Also covers: AFRM, ECPG, ENVA +11 more
Joseph Vafi
Canaccord Genuity - Global Capital Markets
3 questions for PGY
Also covers: ADV, ALIT, ASGN +20 more
SS
Sanjay Sakhrani
Keefe, Bruyette & Woods (KBW)
3 questions for PGY
Also covers: ALLY, AVDX, AXP +17 more
Hal Goetsch
B. Riley Securities
2 questions for PGY
Also covers: BTM, CPIG, ML +5 more
KJ
Kyle Joseph
Jefferies
2 questions for PGY
Also covers: AFRM, CACC, CRMT +14 more
Harold Goetsch
B. Riley Securities
1 question for PGY
Also covers: ANTA, BTM, CCRD +9 more
Mark Palmer
The Benchmark Company, LLC
1 question for PGY
Also covers: CAN, DAVE, GLXY +4 more
Rayna Kumar
Oppenheimer & Co. Inc.
1 question for PGY
Also covers: EEFT, EFX, FIS +9 more
SK
Steven Kwok
Keefe, Bruyette & Woods
1 question for PGY
Also covers: AVDX, RPAY
Recent press releases and 8-K filings for PGY.
Pagaya Technologies Partners with Achieve to Expand Personal Loan Access
PGY
Product Launch
New Projects/Investments
- Pagaya Technologies has partnered with Achieve, a digital personal finance company, to expand consumers' access to personal loans on Achieve's platform.
- Achieve will integrate Pagaya's AI-powered underwriting technology and data network to provide responsible access to personal loans for an expanded mix of consumers.
- Achieve will serve as the end-to-end relationship manager and servicer for the loans offered through this partnership.
- The partnership is expected to expand collaboration beyond personal loan decisioning to include Pagaya's full suite of capabilities, such as prescreen and affiliate marketing products.
8 days ago
Pagaya Announces New $500 Million Personal Loan ABS Transaction
PGY
Debt Issuance
New Projects/Investments
- Pagaya Technologies announced the closing of PAID 2025-8, a $500 million asset-backed securitization (ABS) backed by consumer loans, which is AAA-rated.
- This transaction is the eighth PAID deal of 2025, bringing the total amount raised via ABS for personal loans year-to-date to approximately $5.4 billion.
- The company has raised over $8 billion of capital commitments year-to-date to fund all asset classes across its ABS programs, with 74 unique investors participating in the PAID platform in 2025.
- Since 2018, Pagaya has completed 83 securitizations, raising over $34 billion in capital to fund loans originated through its network.
Dec 10, 2025, 1:30 PM
Pagaya Technologies Ltd. Reports Full Year 2024 Financial Results
PGY
Earnings
Revenue Acceleration/Inflection
- Pagaya Technologies Ltd. reported a net loss attributable to the company of $401.4 million for the year ended December 31, 2024, an increase from a net loss of $128.4 million in 2023.
- Total Revenue and Other Income increased by 27% to $1,032.2 million for the year ended December 31, 2024, up from $812.1 million in 2023, primarily driven by a 30% increase in revenue from fees.
- The company's Operating Income improved to $66.8 million for the year ended December 31, 2024, compared to an operating loss of $24.4 million in 2023.
- A 1-for-12 reverse share split was effected on March 8, 2024, retroactively adjusting all share and per share amounts.
Dec 5, 2025, 2:00 PM
Pagaya Technologies Discusses Business Model, Financial Performance, and Growth Strategy
PGY
Guidance Update
New Projects/Investments
Revenue Acceleration/Inflection
- Pagaya Technologies (PGY) operates a B2B AI/ML-based credit decisioning platform, providing white-label solutions to 31 lending partners and connecting them with 155 institutional investors across personal loan, Auto, and POS asset classes.
- The company reported its third consecutive quarter of GAAP net income positive, with Q3 showing a 10% fee revenue growth, 24% adjusted EBITDA growth, and 35% net income growth.
- Management noted stable credit performance and no deterioration in the underlying consumer, maintaining a prudent underwriting approach since the beginning of the year.
- Pagaya aims for 20% consistent annual growth, primarily through adding new partners and leveraging existing relationships, while diversifying its funding mix to a target 50/50 split between ABS and forward flow from the current 60/40.
- The company highlights its unique B2B model and high barriers to entry in the market, with potential future expansion into asset classes like home improvement, healthcare POS, and credit cards.
Nov 18, 2025, 7:00 PM
Pagaya Reports Strong Financial Performance and Outlines Growth and Funding Strategies
PGY
Revenue Acceleration/Inflection
New Projects/Investments
Guidance Update
- Pagaya reported its third consecutive quarter of GAAP net income positive, with a run rate of approximately $110 million in net income. The company achieved 10% fee revenue growth, 24% adjusted EBITDA growth, and 35% net income growth quarter over quarter.
- The company has eight new lending partners currently in the onboarding phase, though significant volume contribution from these partners is expected in late 2026 or 2027 due to ramp-up time. Pagaya aims for 20% year-over-year growth.
- Pagaya's funding mix is currently 60% ABS and 40% forward flows/other structures, with a strategic goal to achieve a 50-50% split for diversification.
- The company highlights its unique B2B white-label model with high barriers to entry, requiring significant investment and time to replicate, giving it a first-mover advantage.
Nov 18, 2025, 7:00 PM
Pagaya Technologies Reports Strong Q3 Performance and Increased 2025 Guidance
PGY
Guidance Update
Revenue Acceleration/Inflection
New Projects/Investments
- Pagaya Technologies (PGY) reported its third consecutive quarter of GAAP net income positive, with net income run-rating at approximately $110 million. The company also increased its guidance for 2025.
- Key Q3 2025 performance metrics include 12% quarter-over-quarter application flow growth, 6% volume increase, 10% fee revenue growth, 24% adjusted EBITDA growth, and 35% net income growth.
- The company operates a B2B white-label solution model, integrating with 31 lending partners and making fees primarily from these partners (80%). This model results in no customer acquisition costs and high barriers to entry.
- Pagaya has 8 new partners in the onboarding phase, with significant volume contribution anticipated in late 2026 or 2027, supporting its goal of 20% year-over-year growth.
- The funding mix is currently approximately 60% ABS and 40% forward flow, with a strategic target of a 50-50% split for diversification.
Nov 18, 2025, 7:00 PM
Pagaya Discusses Sustainable Growth, Product Expansion, and Capital Markets Strategy at Citi FinTech Conference
PGY
New Projects/Investments
Debt Issuance
Revenue Acceleration/Inflection
- Pagaya (PGY) is focused on a B2B strategy for sustainable network growth, aiming for "sticky growth" by perfecting products for existing lenders and expanding its product suite to include a Marketing Affiliate product and "FastPass" for auto lending.
- The company has become cash flow positive in 2024, with a strategic focus on optimizing capital markets and funding, achieving a blended net risk retention of approximately 1.5% across its personal loan, auto loan, and point-of-sale products.
- Pagaya anticipates a 150 basis point reduction in the cost of capital in 2025 compared to 2024, which is expected to strengthen unit economics and provide more flexibility in managing credit cycles.
- The company is strategically retaining B-bonds to generate high returns on equity (ROE) and improve GAAP net income, aiming to build a more robust balance sheet and lower its cost of capital.
- Pagaya's long-term vision is to be a leading technology company that solves core problems for lenders across various asset classes and credit spectrums, with plans to increase forward flow agreements and improve credit ratings.
Nov 18, 2025, 6:30 PM
Pagaya Discusses Sustainable Growth and Capital Strategy
PGY
New Projects/Investments
Product Launch
Debt Issuance
- Pagaya (PGY) is focused on a B2B strategy for sustainable growth, emphasizing product development like Marketing Affiliate and FastPass for auto loans, and a Pre-screen Engine to drive partner value and customer acquisition.
- The company has achieved cash flow positive status and is implementing a capital allocation strategy to reduce its cost of capital, including retaining B-bonds and resecuritizing maturing positions, aiming for a more robust balance sheet.
- Management noted a 150 basis point reduction in the cost of capital in 2025 compared to 2024, contributing to strong unit economics and enabling stable growth without aggressive credit box expansion.
- Pagaya plans to increase forward flows to 40-50% of production and pursue improved credit ratings (e.g., Moody's, S&P) to further compress spreads and enhance funding efficiency.
Nov 18, 2025, 6:30 PM
Pagaya Technologies Reports Record Q3 2025 Results, Raises Full-Year Outlook
PGY
Earnings
Guidance Update
Debt Issuance
- Pagaya Technologies Ltd. reported record financial results for the third quarter and first nine months of 2025, showing significant year-over-year growth in GAAP net income, adjusted EBITDA, total revenue, and network volume.
- The company raised its full-year guidance for 2025 for total revenue, adjusted EBITDA, and GAAP net income, driven by strong performance in its Auto and Point-of-Sale verticals.
- Pagaya's Adjusted EBITDA margin rose nearly 9 points to 31%, demonstrating strong operating leverage.
- The company expanded its financial partnerships and credit facilities, including issuing $1.8 billion in its ABS program in Q3 2025 and raising $500 million in corporate debt rated by major credit agencies.
Nov 8, 2025, 7:03 PM
Pagaya Technologies Secures $500M Auto Loan Deal with Castlelake
PGY
New Projects/Investments
Revenue Acceleration/Inflection
- Pagaya Technologies secured a $500 million forward flow agreement with Castlelake LP to purchase auto loans sourced through its AI-driven platform, marking the first auto loan transaction between the two firms and expanding their partnership beyond personal loans.
- This agreement is expected to significantly accelerate Pagaya's auto lending capabilities and enhance its funding diversification.
- Pagaya operates in the technology sector, specifically software, with a market capitalization of approximately $1.999 billion and a 21.6% revenue growth rate over the past three years.
Nov 3, 2025, 1:43 PM
Quarterly earnings call transcripts for Pagaya Technologies.
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