Pagaya Technologies Ltd. (PGY)
NASDAQ:PGY
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Earnings Data
Report Date
Aug 06, 2026TBA (Not Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.33Last Year’s EPS
0.2Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a largely positive operational and financial momentum: sustained GAAP profitability (fifth consecutive quarter), double-digit revenue growth, improved margins and strong adjusted EBITDA, record auto performance, successful capital raises and important capital‑market milestones (Fitch AAA, first auto securitization, resecuritizations providing recycleable capital), and an active partner onboarding pipeline. The company is managing market volatility prudently by diversifying funding across ABS and other channels and maintaining disciplined underwriting. Notable negatives include a $38M investment loss, downward fair‑value adjustments, FRLPC margin compression driven by higher cost of capital, ongoing private credit market repricing risk, and intentionally tighter underwriting that keeps application-to-volume conversion below 1%. Overall, the positive operational and capital‑markets achievements and upgraded guidance outweigh the financial and market headwinds discussed.Company Guidance
Fifth Consecutive Quarter of GAAP Profitability
GAAP net income of $25 million for 1Q26 (fifth straight profitable quarter), up $17 million YoY; GAAP net income margin improved to 8% from 3% in 1Q25.
Top-Line Growth and Strong Profitability Metrics
Total revenue of $318 million, up 10% year-over-year; fee revenue $299 million, up 6% YoY; fee revenue less production costs (FRLPC) $121 million, up 5% YoY; adjusted EBITDA $94 million (margin 29.6%), up $15 million YoY and +200 basis points in margin versus prior year; operating income $80 million, up 68% YoY.
Network Volume Expansion
Network volume of $2.6 billion, up 9% YoY and up 23% YoY excluding SFR (Darwin Homes). Company raised full-year network volume guidance (FY26 range increased to $11.45B–$13.0B, with the lower end up ~$200M).
Material Funding and Capital‑Markets Milestones
Raised approximately $2.1 billion of funding this quarter via four ABS transactions; attracted five new investors into deals; expanded investor base and completed first-ever auto resecuritization; added Fitch as a major rating agency (first Fitch AAA on personal loan resecuritization shelf); marketed deals to a network of >160 institutional funding partners.
Resecuritization and Capital Recycling Benefits
Resecuritizations returned capital and enhanced flexibility — company reported ~$44 million of net cash flows generated from these transactions over the last 12 months and successfully refinanced ~$800 million of seasoned collateral via resecuritizations.
Auto Business Surge
Auto reached a record performance with an annualized run rate of $2.3 billion (roughly double the level from 1Q25); improved ABS execution, dealer-level transaction optimization, and better recoveries cited as drivers of strong auto profitability.
Partner and Product Expansion Momentum
Onboarded four new partners (GLS, Upstart, Sezzle, Flex Pay) this quarter; personal loans remain 63% of production; added Experian Activate to broaden marketplace distribution; completed 12 prescreen campaigns across five partners; management reports pipeline of regional banks and multiple onboarding opportunities.
Raised Full-Year Financial Guidance
Management increased FY26 guidance for adjusted EBITDA to $420M–$460M and GAAP net income to $110M–$160M; Q2 guidance provided: network volume $2.875B–$3.075B, total revenue $345M–$365M, adjusted EBITDA $100M–$115M, GAAP net income $25M–$45M.
Operating Efficiency and Leverage
Core operating expenses were well controlled (flat sequentially; modestly higher YoY) and represented 39% of FRLPC; management emphasized strong operating leverage with most revenue growth translating into adjusted EBITDA in dollar terms.
PGY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
PGY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $14.83 | $15.50 | +4.52% |
Feb 09, 2026 | $18.64 | $14.19 | -23.87% |
Nov 10, 2025 | $24.45 | $27.58 | +12.80% |
Aug 07, 2025 | $31.36 | $30.62 | -2.36% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Pagaya Technologies Ltd. (PGY) report earnings?
Pagaya Technologies Ltd. (PGY) is schdueled to report earning on Aug 06, 2026, TBA (Not Confirmed).
What is Pagaya Technologies Ltd. (PGY) earnings time?
Pagaya Technologies Ltd. (PGY) earnings time is at Aug 06, 2026, TBA (Not Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PGY EPS forecast?
PGY EPS forecast for the fiscal quarter 2026 (Q2) is 0.33.
