Pagaya Technologies Reports Record Q3 2026 GAAP Net Income Amid Network Expansion
Pagaya Technologies (PGY) delivered strong third-quarter 2026 results, headlined by a 121% year-over-year increase in GAAP net income to $50 million. The company's network volume reached $3.6 billion, representing 29% growth driven primarily by the Personal Loans and Auto segments. Revenue rose 12% to $390 million, supported by increased fee revenue and a doubling of interest and investment income. Despite facing margin compression in FRLPC due to elevated treasury rates, Pagaya successfully expanded its partner network with the addition of Citizens Financial Group and FNBO. The company also secured $3 billion in asset-backed securities funding, including its largest-ever Auto ABS transaction. Management provided optimistic full-year guidance, projecting GAAP net income between $162 million and $182 million.
Topics: Adjusted EBITDA Asset-Backed Securities GAAP Net Income Network Volume Revenue Growth