secwatch.observer — SEC 8-K summary
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Issuer:     Pagaya Technologies Ltd. (PGY)
CIK:        0001883085
Form:       8-K
Filed at:   2025-11-10T23:59:59+00:00
Accession:  0001883085-25-000191
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pagaya Q3 net income $23M; raises FY25 guidance across all metrics
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- GAAP net income $23M (vs guidance $10-20M), up $90M YoY; revenue $350M, up 36%.
- Adjusted EBITDA $107M (up 91% YoY, vs guidance $90-100M); network volume $2.8B (+19%).
- Raised $500M corporate debt with three credit ratings; expanded revolver to $132M at lower rate.
- Inaugural $500M auto forward flow with Castlelake; second $300M POSH ABS closed in Nov.
- FY25 guidance raised: rev $1.30-1.325B, adj EBITDA $372-382M, GAAP net income $72-82M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1883085/000188308525000191/0001883085-25-000191-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1883085/000188308525000191/pgy-20251110.htm
  HTML page:      https://secwatch.observer/filing/0001883085-25-000191

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