---
schema_version: "secwatch.filing_event.v1"
accession: "0001883085-26-000010"
form_type: "8-K"
ticker: "PGY"
cik: "0001883085"
company_name: "Pagaya Technologies Ltd."
filed_at: "2026-02-09T23:59:59+00:00"
generated_at: "2026-05-16T03:56:50.256084+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Pagaya Q4 GAAP net income $34M record; FY25 net income $81M; FY26 guidance issued

## Summary
- Q4 2025: GAAP net income $34M (up $272M YoY), adj. EBITDA $98M (+53%), revenue $335M (+20%), network volume $2.7B (+3%).
- FY 2025: GAAP net income $81M (up $483M YoY), adj. EBITDA $371M (+76%), revenue $1.3B (+26%), network volume $10.5B (+9%).
- Inaugural POS forward flow with Sound Point ($720M) and $350M PAID revolving ABS with 26North (up to $700M capacity).
- Onboarded 3 new partners (Achieve, GLS, major BNPL provider); cut tail-risk tiers to limit credit exposure.
- Q1'26 guidance: volume $2.5-2.7B, adj. EBITDA $80-95M, GAAP net income $15-35M. FY'26 guidance: volume $11.25-13B, adj. EBITDA $410-460M, net income $100-150M.

## SEC filing metadata
- accession: 0001883085-26-000010
- form_type: 8-K
- ticker: PGY
- cik: 0001883085
- company_name: Pagaya Technologies Ltd.
- filed_at: 2026-02-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1883085/000188308526000010/0001883085-26-000010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1883085/000188308526000010/pgy-20260209.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001883085-26-000010
- JSON: https://secwatch.observer/filing/0001883085-26-000010.json
- Plain text: https://secwatch.observer/filing/0001883085-26-000010.txt

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