Pagaya Q1 revenue rises 10%, adjusted EBITDA up 18%

Pagaya Technologies

07/05/2026 12:07

Overview

US AI infrastructure firm's Q1 revenue rose 10% yr/yr, driven by interest income growth

Adjusted EBITDA for Q1 grew 18% yr/yr as business scaled

Company announced CFO transition effective June 15

Outlook

Pagaya expects 2Q26 network volume between $2.875 bln and $3.075 bln

Company sees 2Q26 total revenue and other income between $345 mln and $365 mln

Pagaya raises FY26 net income guidance to $110 mln-$160 mln

Result Drivers

NETWORK VOLUME GROWTH - Q1 network volume rose 9% yr/yr, driven by growth in Auto and Point-of-Sale verticals while maintaining prudent underwriting

INTEREST INCOME SURGE - 130% yr/yr growth in interest income contributed to 10% rise in total revenue and other income

OPERATING LEVERAGE - Adjusted EBITDA grew 18% yr/yr, benefiting from growth in fee revenue less production costs and operating leverage as business scales

Company press release: ID:nBw38MSYsa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Total Revenue & Other Income
$318 mln
Q1 Net Income
$25 mln
Q1 Adjusted EBITDA
$94 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the financial technology (fintech) peer group is "buy"

Wall Street's median 12-month price target for Pagaya Technologies Ltd is $30.00, about 102.3% above its May 6 closing price of $14.83

The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 12 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)