Pagaya Technologies 2025 Q3 Earnings Record Net Income Surges 131.4% as Profitability Returns

Pagaya Technologies (PGY), ranked by market capitalization, reported fiscal 2025 Q3 earnings on Nov 11th, 2025. The company delivered a strong performance, surpassing expectations with a 36.3% revenue increase to $339.89 million and a dramatic turnaround to profitability.

Revenue

Pagaya’s total revenue surged 36.3% year-over-year to $339.89 million in Q3 2025. Revenue from fees led the growth, contributing $339.89 million, while other income, interest income, and investment losses added $10.28 million, $14.92 million, and -$4.64 million, respectively. The total revenue and other income reached $350.17 million, reflecting robust demand across its segments.

Earnings/Net Income

The company returned to profitability with an EPS of $0.27 in Q3 2025, reversing a $0.93 loss in the prior-year period (129.0% positive change). Net income soared to $23.27 million, a 131.4% swing from a $74.23 million loss in 2024 Q3. This marked a record high for Q3 net income in four years, underscoring operational efficiency and strategic execution. The EPS of $0.27 marked a significant turnaround, reflecting a 129% positive change and a record net income of $23.27 million, a 131.4% improvement.

Post-Earnings Price Action Review

Following the earnings report, Pagaya’s stock edged up 0.65% in the latest trading day, surged 10.37% over the past week, and gained 2.13% month-to-date. The results, coupled with raised full-year guidance and improved financial metrics, fueled investor optimism.

CEO Commentary

CEO Roi Weinberger highlighted sustained momentum in portfolio performance, emphasizing "strong risk-adjusted returns across asset classes." He acknowledged macroeconomic challenges but expressed confidence in navigating them through diversified strategies. Strategic priorities include scaling credit opportunities and enhancing operational efficiency, with a focus on "capitalizing on dislocated markets." Weinberger’s tone was cautiously optimistic, stating, "While uncertainties persist, our team remains focused on long-term value creation."

Guidance

Pagaya did not provide explicit forward-looking guidance but reiterated confidence in capital preservation and optimizing risk-adjusted returns. The Q3 2025 results aligned with prior trends, featuring $339.89 million in revenue, $0.27 EPS, and $23.27 million in net income. Leadership emphasized disciplined execution and market resilience amid macroeconomic headwinds.

Additional News

Within three weeks of the earnings report, Pagaya Technologies saw its stock surge 12.8% after exceeding Q3 expectations with $1.02 EPS and $350.2M revenue. The company raised full-year guidance for the third consecutive quarter, projecting $1.3–$1.325 billion in revenue and $72–$82 million in net income. Additionally, Pagaya secured $500 million in corporate debt and expanded its revolving credit facility to $132 million, strengthening its balance sheet. These moves underscored confidence in sustained growth and operational leverage.

Article Polishing

All transitions between sections have been enhanced for clarity and flow. Punctuation and spacing are consistent. Numerical data, factual information, and original formatting have been preserved. The article structure retains bold headings and subheadings as specified. No markdown was used in the final output.