Pagaya Technologies Ltd Class A (PGY)

In the past six months, Pagaya Technologies Ltd. stock has experienced several notable events. The company reported strong Q3 2025 results, with adjusted EPS of $1.02 and revenue growth of 36% year-over-year. Pagaya announced its intent to file on U.S. domestic issuer forms with the SEC and establish its global headquarters in New York City. Pagaya reported Q4 2025 earnings with an EPS of $0.324. Pagaya closed an $800 million AAA-rated personal loan ABS transaction and a $500 million AAA-rated auto ABS transaction. Pagaya secured its inaugural AAA rating from Fitch Ratings on its $368 million personal loan resecuritization. Pagaya announced robust Q1 2026 results, achieving a GAAP net income of $25 million, revenue of $318 million, and adjusted EBITDA of $94 million, and raised its full-year 2026 net income guidance to $110 million to $160 million. Pagaya appointed Jonathan Dobres as its new CFO. Pagaya onboarded four new partners in Q1 2026, including Global Lending Services, Upstart, Sezzle, and Flex Pay, and announced a new point-of-sale partnership with Sezzle.

Pagaya Technologies' business model exhibits some flexibility regarding economic cycles. Demand for Pagaya's core product, "Decline Monetization," tends to increase during economic uncertainty. During favorable economic periods, partners are more active in utilizing Pagaya's additional products to accelerate growth and expand their customer base. While a tool exists to analyze monthly seasonality for PGY stock, specific demand seasonality for its products and services is primarily described in relation to broader economic conditions rather than fixed calendar periods.

Pagaya Technologies Ltd. is a technology company that uses machine learning and AI to provide consumer credit and residential real estate products for partners, customers, and investors. Pagaya's products provide lenders with an AI-powered credit and acquisition ecosystem, helping them approve more borrowers, capture more demand, and grow without adding risk. Key products include Decline Monetization, Dual Look, First Look, Affiliate Optimizer Engine, Direct Marketing Engine, and FastPass. Pagaya also provides comprehensive consumer credit products, including personal loans, auto loans, and point-of-sale (POS) financing, as well as residential real estate products and solutions.

Pagaya Technologies Ltd. generates the majority of its revenue from its business in the United States. The company also has operations and deploys its technology in Israel and the Cayman Islands. Its headquarters are located in New York, New York, with a technical development site in Tel Aviv, Israel.

Pagaya Technologies positions itself as a technology company focused on AI-driven financial infrastructure rather than a traditional lender. The company's consistent profitability and successful fundraising efforts contribute positively to its reputation. The achievement of an inaugural AAA Fitch rating on its personal loan resecuritization shelf also enhances its credibility. However, a reported US$140.2 million one-off loss, share price volatility, and a funding model that relies on external borrowing are factors investors consider. A disappointing Q4 2025 earnings report also initially rattled AI-adjacent names and software stocks, but the company's subsequent strong Q1 2026 performance and raised guidance have helped to mitigate these concerns.

Pagaya Technologies Ltd. has a diverse ownership structure, with significant holdings by institutional investors, individual insiders, private equity, and the general public. Institutions hold a substantial portion, with 245 institutional owners holding a total of 42,177,554 shares as of May 6, 2026. Insiders own a significant proportion of Pagaya Technologies Ltd., holding approximately 16.41% to 19% of the shares. Private equity firms hold about 18% ownership. Individual investors, or the general public, hold approximately a 21% stake.