NASDAQ$PGY
Pagaya Technologies Ltd · Q4 2025 earnings
Q4 2025 earnings · · Before market open · Investor relations
Briefing
Pagaya reported Q4 2025 total revenue and other income of $335M and GAAP net income of $34M on $2.7B network volume.
Q4 total revenue and other income was $334.8 million (+20% YoY) with network volume of $2.7 billion. GAAP net income attributable to Pagaya was $34.3 million versus a large prior-year loss; adjusted net income was $78.8 million. Management highlighted durable growth in auto and point-of-sale verticals and improving profitability.
- Q4 revenue and other income $335M (+20%).
- GAAP net income $34M; adjusted net income $79M.
- Network volume $2.7B in the quarter.
- FY2025 revenue and other income $1.30B (+26%).
Headline financials
Revenue & EPS history
Pagaya · Revenue · Quarterly
$335M
Forward guidance
Pagaya discussed 2026 outlook around network volume, fee economics, and funding partners after delivering record FY2025 revenue and profitability versus prior outlook ranges.
Tailwinds
- Return to GAAP profitability in Q4.
- Strong adjusted EBITDA and fee revenue growth.
- Auto and POS vertical momentum.
Headwinds
- Credit performance and funding market volatility.
- Fair-value marks on loan investments.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2025
-0.4%
Avg return
Earnings day
-2.8%
Avg return
5 days after
-8.5%
Avg return
30 days after
45%
9 / 20 earnings
Positive
+24.3%
Q4 2024
Best reaction
-39.7%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.3% | -8.9% | -1.8% | |
| Q4 2025 | -23.9% | -33.3% | -38.4% | |
| Q3 2025 | +12.7% | -2.2% | +1.0% | |
| Q1 2025 | -2.4% | +33.6% | +52.4% | |
| Q4 2024 | +24.3% | +43.9% | -10.4% | |
| Q3 2024 | -39.7% | -47.8% | -43.9% | |
| Q2 2024 | -21.5% | -18.8% | -18.7% | |
| Q1 2024 | +20.8% | +16.8% | +17.6% | |
| Q4 2023 | +15.4% | +15.4% | -34.4% | |
| Q3 2023 | +9.3% | +4.7% | +14.0% | |
| Q2 2023 | +9.1% | -9.5% | -7.4% | |
| Q1 2023 | -7.2% | -4.6% | +25.8% | |
| Q4 2020 | -2.6% | -9.3% | -3.1% | |
| Q4 2021 | -2.6% | -9.3% | -3.1% | |
| Q4 2022 | -3.7% | -8.2% | -26.1% | |
| Q3 2022 | +10.2% | +0.0% | -42.5% | |
| Q2 2022 | -9.0% | -17.6% | -51.4% | |
| Q1 2022 | -0.3% | -0.1% | -0.2% | |
| Q3 2021 | +0.2% | +0.2% | +1.2% | |
| Q2 2021 | -0.1% | -0.3% | -0.5% | |
| Q1 2021 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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