Pagaya Raises 2025 Revenue Guidance to $1.325B, Expands Product Suite and Funding Capacity.

Pagaya Technologies has raised its 2025 revenue guidance to up to $1.325B, driven by a record $326M in total revenues in Q2 2025. The company has also expanded its product suite and funding capacity. CEO Gal Krubiner announced a second consecutive quarter of positive GAAP net income at a record high of $17M.

Pagaya Technologies Ltd. (NASDAQ: PGY) has reported robust financial results for the second quarter and the first half of 2025, exceeding expectations and raising its full-year revenue guidance. The company's CEO, Gal Krubiner, announced a second consecutive quarter of positive GAAP net income, reaching a record high of $17 million. This performance is driven by record total revenues of $326 million in Q2 2025, up 30% year-over-year (YoY).

The company's adjusted EBITDA also saw a significant increase, reaching $86 million, up 72% YoY. This growth is attributed to a 30% YoY increase in total revenue and other income, driven by improved economics in the personal loan and auto verticals. Network volume increased by 14% YoY to $2.6 billion, reflecting growth in the Auto and Point-of-Sale verticals.

Pagaya Technologies expanded its product suite and funding capacity in Q2 2025. The company issued its first AAA-rated $300 million Auto ABS securitization and an inaugural AAA-rated $300 million POSH Point-of-Sale ABS structure, providing more than $1 billion in total funding capacity over the next 12 months. Additionally, Pagaya Technologies raised $2.3 billion across six ABS transactions in Q2, a quarterly record, and expanded its funding network by 10 new investors, totaling 145 funding partners.

The company's full-year 2025 revenue guidance has been raised to up to $1.325 billion, reflecting strong performance and growth prospects. The full-year 2025 outlook includes expected network volume of between $10.5 billion and $11.5 billion, total revenue and other income of between $1.25 billion and $1.325 billion, adjusted EBITDA of between $345 million and $370 million, and GAAP net income of between $55 million and $75 million.

Pagaya Technologies' performance highlights its ability to drive sustainable gains in profitability and maintain positive net cash flow. The company's forward flow agreement with Castlelake, announced in July, will purchase up to $2.5 billion in Personal Loans over 16 months, raising capacity across forward flow partnerships and pass-throughs to ~$5 billion since the end of 2024.

Pagaya Technologies will hold a webcast and conference call today, August 7, 2025, at 8:30 a.m. Eastern Time, to discuss these results further. The webcast and conference call details are available on the company's investor relations website.

References:
[1] https://investor.pagaya.com/news-releases/news-release-details/pagaya-reports-second-quarter-and-first-half-2025-results