Pagaya Technologies Ltd. (PGY) Form 8-K — Oct 29, 2026
Pagaya reported record third-quarter 2026 results, with GAAP net income of $50 million (up $27 million YoY, or 121%), revenue of $390 million (up 12%), and adjusted EBITDA of $130 million (up 22%) at a 33% margin. Network volume grew 29% YoY to a record $3.6 billion, driven by the Auto and Personal Loan verticals. The company onboarded Citizens Financial Group and First National Bank of Omaha as new partners and closed over $2 billion of longer-duration committed capital, including a $700 million auto forward flow with Neuberger Berman and an inaugural ~$700 million Personal Loan VFN. ABS issuance totaled $3 billion in the quarter.
Key figures
- Eps
- 0.52
- Revenue
- 390492000
- Guidance
- FY26: network volume $12.725B-$13.025B, revenue $1.45B-$1.5B, Adjusted EBITDA $465M-$485M, GAAP net income $162M-$182M; 4Q26: volume $2.961B-$3.261B, revenue $355M-$405M, Adjusted EBITDA $117M-$137M, GAAP net income $42M-$62M
- Net Income
- 49732000
- Revenue Yoy
- 12%
- Total Assets
- 1798229000
- Cash Position
- 247115000
- Frlpc
- $146 million (up 5% YoY)
- Frlpc percent
- 4.1% (down 91bps YoY)
- Network volume
- $3.6 billion (up 29% YoY)
- Adjusted ebitda
- $130 million (up 22% YoY)
- Operating income
- $113 million (up 41% YoY)
- Application volume
- $377 billion (up 42% YoY)
- Impairment loss q3
- $36.9 million
- Abs raised in quarter
- $3 billion
- Adjusted ebitda margin
- 33%
- Committed capital closed
- over $2 billion
- Auto abs spread improvement
- tightened >30bps investment grade on most recent PAID deal
AI analysis
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