Pagaya Tech

Q2 FY2026 EarningsQ2 FY26 results significantly exceeded consensus across all top and bottom-line metrics, characterized by a substantial revenue beat of $387M vs. $357M expected (+8.38%) and GAAP Net Income of $45M hitting the top end of guidance. Record network volume of $3.5B (+33% YoY) drove an operating income surge of 87% YoY to $106M. Management raised FY26 guidance for GAAP Net Income to $155M-$180M and Adjusted EBITDA to $460M-$490M, signaling continued scale and operating leverage despite slightly compressed FRLPC margins.