Pagaya Technologies (NASDAQ:PGY) Posts Quarterly Earnings Results, Beats Expectations By $0.53 EPS

Key Points

• Pagaya Technologies beat earnings expectations, reporting $0.73 EPS versus the $0.20 consensus estimate. Revenue came in at $317.94 million, below expectations, but still rose 9.7% year over year.
• The company said it posted GAAP net income of $25 million, marking its fifth consecutive profitable quarter, and raised full-year adjusted EBITDA and GAAP net income guidance.
• Pagaya also highlighted capital and business expansion, including $2.1 billion raised through ABS transactions, a Fitch Triple-A rating addition, new partners, and a record auto business run rate of $2.3 billion.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) released its earnings results on Thursday. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.53, Briefing.com reports. Pagaya Technologies had a net margin of 7.39% and a return on equity of 46.46%. The business had revenue of $317.94 million during the quarter, compared to analysts' expectations of $323.85 million. During the same quarter last year, the company earned $0.10 earnings per share. The firm's revenue was up 9.7% on a year-over-year basis.

Here are the key takeaways from Pagaya Technologies' conference call:

• GAAP net income of $25 million marked Pagaya's fifth consecutive profitable quarter, with adjusted EBITDA $94 million and management raising full-year adjusted EBITDA and GAAP net income guidance.
• Pagaya raised $2.1 billion across four ABS transactions, added Fitch (Triple‑A) to its ratings footprint and completed its first auto re‑securitization, giving the company repeatable capital recycling and lower-cost funding options.
• Product and partner expansion accelerated — four new partners onboarded (GLS, Upstart, Sezzle, FlexPay), the auto business reached a record annualized run rate of $2.3 billion, and affiliate/direct‑marketing products are driving incremental volume.
• Management maintained a selective credit posture and reported FRLPC at 4.6% (down 19 bps) due to tighter ABS pricing and higher cost of capital, and recorded $38 million in losses on investments, signaling near‑term margin pressure risks.
• CFO transition announced — outgoing CFO EP will serve as strategic advisor and Jonathan Dobres is promoted to CFO, with the company saying financial strategy and priorities remain unchanged.

Pagaya Technologies Price Performance

Shares of Pagaya Technologies stock traded down $0.31 during midday trading on Friday, reaching $15.19. The company had a trading volume of 6,032,315 shares, compared to its average volume of 3,758,065. The company has a current ratio of 10.55, a quick ratio of 10.55 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 14.20 and a beta of 5.42. The stock has a fifty day simple moving average of $12.37 and a 200 day simple moving average of $18.67. Pagaya Technologies has a 1-year low of $10.40 and a 1-year high of $44.99.

Analyst Ratings Changes

PGY has been the subject of several recent research reports. Citigroup dropped their price target on shares of Pagaya Technologies from $40.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, February 12th. Freedom Capital raised shares of Pagaya Technologies to a "strong-buy" rating in a report on Tuesday, February 3rd. Zacks Research lowered shares of Pagaya Technologies from a "strong-buy" rating to a "hold" rating in a report on Monday, February 2nd. Jefferies Financial Group dropped their price objective on shares of Pagaya Technologies from $35.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday, February 10th. Finally, Canaccord Genuity Group dropped their price objective on shares of Pagaya Technologies from $39.00 to $32.00 and set a "buy" rating for the company in a report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $33.11.

Insider Activity at Pagaya Technologies

In related news, CFO Evangelos Perros sold 13,004 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $11.34, for a total value of $147,465.36. Following the completion of the sale, the chief financial officer owned 122,174 shares of the company's stock, valued at $1,385,453.16. This trade represents a 9.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Sanjiv Das sold 9,702 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $10.99, for a total transaction of $106,624.98. Following the completion of the sale, the president directly owned 144,034 shares of the company's stock, valued at approximately $1,582,933.66. This represents a 6.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 46,756 shares of company stock valued at $558,738 over the last quarter. Corporate insiders own 47.59% of the company's stock.

Hedge Funds Weigh In On Pagaya Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd raised its position in shares of Pagaya Technologies by 351.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company's stock valued at $29,000 after acquiring an additional 1,084 shares during the last quarter. Transamerica Financial Advisors LLC bought a new position in shares of Pagaya Technologies in the 4th quarter worth $30,000. Quarry LP boosted its position in shares of Pagaya Technologies by 330.8% in the 4th quarter. Quarry LP now owns 1,663 shares of the company's stock worth $35,000 after purchasing an additional 1,277 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Pagaya Technologies in the 4th quarter worth $52,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Pagaya Technologies by 177.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,561 shares of the company's stock worth $140,000 after purchasing an additional 4,199 shares during the last quarter. 57.14% of the stock is owned by institutional investors.

Key Headlines Impacting Pagaya Technologies

Here are the key news stories impacting Pagaya Technologies this week:

• Positive Sentiment: Pagaya beat Q1 earnings estimates, reporting $0.73 per share versus a much lower consensus, while revenue rose 9.7% year over year to $317.94 million. Article Title
• Positive Sentiment: The company raised full-year 2026 net income guidance and highlighted stronger revenues and lower expenses, reinforcing confidence in earnings momentum. Article Title
• Positive Sentiment: Second-quarter adjusted EBITDA guidance was also a focus for investors, suggesting management expects continued operating improvement in the near term. Article Title
• Neutral Sentiment: Pagaya also announced that Chief Strategy Officer Jonathan Dobres will become CFO effective June 15, 2026, with the current CFO staying through year-end to support the transition. Article Title
• Neutral Sentiment: Revenue guidance for Q2 and FY2026 was mixed relative to consensus, with the company pointing to a quarterly range below estimates even as the broader year outlook remains constructive. Article Title

Pagaya Technologies Company Profile

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.

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