secwatch.observer — SEC 8-K summary
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Issuer:     Pagaya Technologies Ltd. (PGY)
CIK:        0001883085
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001883085-24-000076
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1883085/000188308524000076/0001883085-24-000076-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1883085/000188308524000076/pgy-20240509.htm
  HTML page:      https://secwatch.observer/filing/0001883085-24-000076

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer