---
schema_version: "secwatch.filing_event.v1"
accession: "0001883085-25-000140"
form_type: "8-K"
ticker: "PGY"
cik: "0001883085"
company_name: "Pagaya Technologies Ltd."
filed_at: "2025-07-17T23:59:59+00:00"
generated_at: "2026-05-18T06:00:42.226868+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Pagaya prelim Q2 beats across all metrics; Net Income ~$17M vs $0-10M guidance

## Summary
- Preliminary Q2 revenue ~$326M, Network Volume ~$2.6B; both exceed top end of prior guidance.
- GAAP Net Income estimated ~$17M, significantly above $0-10M range; Adjusted EBITDA ~$86M (upper end).
- Company reiterates no equity or equity-linked issuance planned; focusing on balance sheet optimization.
- As of Dec 31, 2025, Pagaya loses EGC status, becomes large accelerated filer; Section 16 applies Jan 1, 2026.

## SEC filing metadata
- accession: 0001883085-25-000140
- form_type: 8-K
- ticker: PGY
- cik: 0001883085
- company_name: Pagaya Technologies Ltd.
- filed_at: 2025-07-17T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1883085/000188308525000140/0001883085-25-000140-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1883085/000188308525000140/pgy-20250717.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001883085-25-000140
- JSON: https://secwatch.observer/filing/0001883085-25-000140.json
- Plain text: https://secwatch.observer/filing/0001883085-25-000140.txt

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