Pagaya Reports Strong Q1 Results, Raises Full-Year Net Income Guidance, and Announces CFO Transition

summarizeSummary

Pagaya Technologies reported robust first-quarter financial results, exceeding expectations and significantly raising its full-year net income guidance, alongside a planned and amicable CFO transition.

check_boxKey Events · Earnings and Guidance · PGY

• Strong Q1 2026 Financial Performance

  Pagaya reported GAAP net income of $25 million (up $17 million year-over-year), Adjusted EBITDA of $94 million (up 18% year-over-year), and total revenue of $318 million (up 10% year-over-year). Network volume grew 9% to $2.6 billion.

• Full-Year Net Income Guidance Raised

  The company increased its full-year 2026 GAAP net income guidance to a range of $110 million to $160 million, reflecting accelerated momentum, particularly in its auto business.

• Planned CFO Transition

  Evangelos Perros will step down as CFO effective June 15, 2026, and will be succeeded by Jonathan Dobres, the current Chief Strategy Officer. The transition is stated to be unrelated to any disagreements over accounting practices or financial statements, with Mr. Perros remaining as a Strategic Executive Advisor through year-end.

auto_awesomeAnalysis · PGY · Finance

Pagaya Technologies delivered robust first-quarter results, exceeding expectations with a significant increase in GAAP net income and adjusted EBITDA. Crucially, the company raised its full-year GAAP net income guidance, signaling strong confidence in its continued performance and operational momentum. This positive financial update is accompanied by a planned and amicable CFO transition, with the outgoing CFO remaining as an advisor and an internal Chief Strategy Officer stepping into the role, ensuring leadership continuity. The combination of strong financial performance and a smooth executive transition provides a positive outlook for investors.