---
schema_version: "secwatch.filing_event.v1"
accession: "0001883085-24-000076"
form_type: "8-K"
ticker: "PGY"
cik: "0001883085"
company_name: "Pagaya Technologies Ltd."
filed_at: "2024-05-09T23:59:59+00:00"
generated_at: "2026-06-02T07:12:21.088013+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Pagaya Q1: record volume $2.42B, revenue $245M, adj. EBITDA $40M; POS partner Elavon

## Summary
- Network volume $2.42B (+31% YoY), total revenue $245M (+31% YoY), both above guidance ranges.
- Adjusted EBITDA record $40M (exceeded guidance $32-38M); GAAP operating income $8M, third consecutive positive quarter.
- FRLPC $92M (+84% YoY), margin 3.8% (highest in 8 quarters); personal loan FRLPC margin 6.0%.
- Raised $1.9B in funding across 5 transactions; added 18 new funding partners; executed $50M whole-loan sale with 1% risk retention.
- Onboarding Elavon (US Bank subsidiary) for POS channel, set to go live in 2H2024.

## SEC filing metadata
- accession: 0001883085-24-000076
- form_type: 8-K
- ticker: PGY
- cik: 0001883085
- company_name: Pagaya Technologies Ltd.
- filed_at: 2024-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1883085/000188308524000076/0001883085-24-000076-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1883085/000188308524000076/pgy-20240509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001883085-24-000076
- JSON: https://secwatch.observer/filing/0001883085-24-000076.json
- Plain text: https://secwatch.observer/filing/0001883085-24-000076.txt

## Source-grounded claims
- claim_id: ae7a71156eba525da381088262d7cd11fb47fd52
  claim: Pagaya Technologies Ltd. reported the first quarter ended March 31, 2024 results: revenue $245 million.
  evidence_excerpt: Quarter 2024 Results ● Delivered another record quarter, exceeding guidance on all metrics: ○ Record Network Volume of $2.42 billion ○ Record Total Revenue and Other Income of $245 million ○ Record Adjusted EBITDA of $40 million ● Onboarding a bank partner in our point-of-sale product New York, NY and Tel Aviv, Israel – May 9, 2024 – Pagaya Technologies Ltd.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1883085/000188308524000076/0001883085-24-000076-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.