Pagaya Technologies Ltd. Stock Price, News & Analysis

Pagaya Technologies (NASDAQ: PGY) reported strong Q2 2025 financial results, marking its second consecutive quarter of positive GAAP net income. The company achieved record performance across key metrics, including net income of $17 million (up $91 million YoY), Adjusted EBITDA of $86 million (up 72% YoY), and total revenue of $326 million (up 30% YoY).

Notable achievements include the issuance of their first AAA-rated Auto ABS and inaugural AAA-rated Point-of-Sale revolving ABS structure, along with a successful $500 million 5-year Senior Unsecured Notes offering. The company raised its full-year 2025 guidance, expecting network volume between $10.5-11.5 billion and total revenue between $1.25-1.325 billion.

Pagaya Technologies (NYSE:PGY), an AI-driven financial technology solutions provider, has announced its management team's participation in four upcoming investor conferences in August 2025.

The schedule includes Bank of America's TMT Summer Fireside Chat Series (Virtual, August 8), Canaccord Growth Conference (Boston, August 12), JP Morgan Future of Financials Forum (Virtual, August 13), and Needham Fintech & Digital Transformation Conference (Virtual, August 13).

Pagaya Technologies (NASDAQ: PGY) has successfully closed an upsized $500 million offering of 8.875% senior unsecured notes due 2030. The offering, which was approximately 5 times oversubscribed, demonstrates strong institutional investor confidence in Pagaya's platform. The company will use the proceeds to refinance existing higher-cost debt.

This refinancing is expected to generate $40 million in annualized cash flow savings, including $30 million from reduced debt amortization and $12 million in annual interest expense reduction. The transaction will lower Pagaya's cost of debt by nearly 200 basis points while maintaining flat net leverage. As part of this milestone, Pagaya has secured ratings from all three major credit agencies: S&P, Moody's, and Fitch.

Pagaya Technologies (NASDAQ: PGY) has successfully closed PAID 2025-5, a $500 million asset-backed securitization (ABS) backed by consumer loans. The deal, upsized from an initial target of $400 million, received a AAA rating from KBRA and marks the company's fifth fully-prefunded PAID deal of 2025.

The transaction attracted over 30 unique investors, including five new participants, and brings Pagaya's year-to-date ABS issuance to over $4.6 billion. Since 2018, the company has completed 75 securitizations, raising nearly $31 billion in capital. The company has secured over $9.5 billion in capital commitments this year across its ABS and forward-flow programs.

Pagaya Technologies (NASDAQ: PGY) has announced the pricing of an upsized $500 million senior unsecured notes offering due 2030, increased from the initially planned $450 million due to strong demand. The notes will carry an interest rate of 8.875% payable semi-annually, with maturity set for August 1, 2030.

The notes offering, priced at 100% of principal amount, is expected to generate net proceeds of approximately $491 million after deducting costs. The company plans to use the proceeds primarily to repay existing credit facilities and approximately $100 million of outstanding secured borrowings, with the remainder allocated for general corporate purposes.

Pagaya Technologies (NASDAQ: PGY) has successfully closed a $400 million AAA-rated auto loan ABS transaction (RPM 2025-4), marking its fourth auto ABS deal of 2025. This latest deal brings Pagaya's total auto ABS issuance to $1.3 billion year-to-date and represents the company's 10th ABS transaction across all asset classes in 2025.

The oversubscribed transaction attracted 15 investors, including 6 new participants, demonstrating strong institutional demand for Pagaya's AI-driven credit assets. The diverse investor base comprised insurance companies, pension funds, investment managers, and hedge funds. The company has raised over $8.5 billion in capital commitments this year across its ABS and forward-flow programs, and has accumulated more than $30.2 billion across 74 ABS transactions since 2018.

Pagaya Technologies (NASDAQ: PGY) has announced that its subsidiary, Pagaya US Holding Company LLC, plans to offer $450 million in unsecured senior notes due 2030 through a private offering to qualified institutional buyers under Rule 144A.

The company will use the proceeds to repay all outstanding credit facilities, settle $75 million in secured borrowings, cover related expenses, and fund general corporate purposes. The notes will be guaranteed by Pagaya and its subsidiary guarantors on a senior unsecured basis.

The offering is limited to qualified institutional buyers who are also qualified purchasers under specific SEC regulations, and the notes will not be registered under the Securities Act.

Pagaya Technologies (NASDAQ: PGY), an AI infrastructure provider for the financial ecosystem, has announced preliminary Q2 2025 results that significantly exceed previous guidance. The company expects Network Volume of approximately $2.6 billion, Total Revenue of $326 million, GAAP Net Income of $17 million, and Adjusted EBITDA of $86 million.

The company is evaluating opportunities to optimize its balance sheet and reduce existing debt costs to support growth and profitability. Notably, Pagaya has confirmed it does not plan to issue any equity or equity-linked instruments in the foreseeable future. The final Q2 2025 results will be reported on August 7, 2025.

Pagaya Technologies (NASDAQ: PGY) has announced a new forward flow agreement with Castlelake for the purchase of up to $2.5 billion in personal loan assets over a 16-month period. This new agreement doubles the size of their previous $1 billion partnership from 2024.

The deal strengthens Pagaya's funding infrastructure, with approximately $5 billion of expected capacity across its forward flow partnerships. The company's AI-driven platform provides credit services across three verticals: personal loans, auto loans, and point of sale (POS), enabling efficient, scaled investment opportunities for Castlelake investors.