Pagaya Technologies (PGY) Stock News

Pagaya Technologies (NASDAQ: PGY) closed a $600 million AAA-rated personal loan asset-backed securities transaction, designated PAID 2026-6.

The transaction drew 47 unique investors, including three new investors to Pagaya’s broader asset-backed securities platform. Year-to-date personal loan issuance reached over $6 billion, while total issuance this year exceeded $9 billion, both company records. Pagaya reported tighter pricing relative to recent deals and said its evolving funding model balances syndicated issuance with new products, including private revolving structures and warehouse lines, to reduce reliance on any single funding channel.

Pagaya Technologies (PGY) closed its first variable funding note facility with ATLAS SP Partners, targeting nearly $700 million in personal-loan funding capacity.

The committed, revolving warehouse line lets Pagaya draw, repay and redeploy liquidity as needed, providing funding visibility across multiple quarters. A dedicated vehicle will hold newly originated loans before securitization. Pagaya says the structure builds real-time performance data to support execution for its AAA-rated PAID asset-backed securities platform and diversify its securitization activity. ATLAS is majority owned by Apollo Funds.

Pagaya Technologies (PGY) closed PAID 2026-REV1, a 24-month revolving personal loan facility with an initial size of $460 million. The structure is backed by consumer loans originated on Pagaya’s network and is expected to deploy approximately $850 million of total capital over the two-year revolving period. The deal is Pagaya’s second revolving structure in 2026 and is aimed at institutional investors seeking capital-efficient, longer-duration exposure. The company said the facility supports its long-term, committed capital strategy and diversification across public and private funding structures.

Pagaya Technologies (PGY) has appointed fintech and payments veteran Jason Gardner to its Board of Directors, following his confirmation at the company’s Annual Meeting in August.

Gardner is the founder of Marqeta, where he served as CEO from 2010 to 2023, led the company through its 2021 IPO, and later served as Executive Chair before becoming a director and Chair of Marqeta’s Payments Innovation Committee. His earlier experience includes founding PropertyBridge, a payment platform acquired by MoneyGram International in 2007, and Vertical Think, an IT management company, as well as serving as Director of Sales for the 451 Group, now part of S&P Global.

Pagaya Technologies (PGY) signed a new forward flow agreement with Neuberger Specialty Finance on September 16, 2026, for the purchase of up to $700 million of auto loans.

The agreement, Pagaya’s second auto forward flow deal and first such agreement with Neuberger, expands an existing partnership that spans multiple capital markets and financing transactions. Pagaya’s auto network volume reached an annualized run-rate of $4.8 billion last quarter, and the company said auto contributed more than 75% of its year-over-year network volume growth. Pagaya’s AI-driven platform links auto lending partners with institutional investors, supporting predictable, long-term funding capacity.

Pagaya Technologies (NASDAQ: PGY) announced that its management team will participate in several investor conferences in September 2026. These include the B. Riley 9th Annual Consumer & TMT Conference on September 10 and the Oppenheimer Fintech Leaders Conference on September 15, both in New York, and the BTIG Consumer Finance Conference on September 17 in Boston.

Pagaya (NASDAQ: PGY) reported record second quarter 2026 results, with GAAP net income attributable to shareholders of $45 million, up $29 million year-over-year and above its $25–$45 million outlook. Operating income rose to $106 million, an 87% increase.

Total revenue and other income reached $387 million, up 19% year-over-year, while network volume grew 33% to $3.5 billion, led by the Auto vertical. Fee revenue less production costs (FRLPC) was $147 million, up 16%, with FRLPC margin at 4.2%, down 61 bps.

Adjusted EBITDA was $124 million, up 43% and ahead of guidance. Pagaya funded $3.7 billion of ABS across six deals and reported annualized Auto network volume of $4.8 billion. The company issued Q3 2026 guidance and raised full‑year 2026 GAAP net income guidance to $155–$180 million. Fitch revised Pagaya’s corporate rating outlook to Positive.

Pagaya (NASDAQ: PGY) closed an upsized $900 million AAA-rated personal loan asset-backed securities (ABS) transaction, PAID 2026-5, described as one of the largest deals in its history and its largest personal loan ABS since 2022.

The transaction attracted 37 unique investors, including four new investors to Pagaya’s broader ABS platform and five new investors to its PAID shelf. According to Pagaya, the upsized deal lifts year-to-date personal loan ABS issuance to $4.7 billion and total 2026 issuance to a record $7.5 billion, highlighting expanded capital markets access for its AI-driven personal loan platform.

Pagaya Technologies (NASDAQ: PGY) announced that Fitch Ratings revised the rating outlook for Pagaya and its wholly owned subsidiary, Pagaya US Holding Company LLC, to Positive from Stable, effective July 15, 2026. Fitch also affirmed Pagaya’s Long-Term Issuer Default Ratings and senior unsecured debt ratings at ‘B’.

According to Pagaya, Fitch’s Positive outlook reflects Pagaya’s recent momentum in profitability, reduced leverage and expanded interest coverage, which met Fitch’s upgrade triggers, and Fitch indicated ratings could be upgraded if this improved profile is sustained.