Pagaya Technologies Ltd.
For the period ended Jun 30, 2026. Filed Jul 30, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Jul 30, 2026
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Condensed Consolidated Statements of Income
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(In thousands, except share and per share data)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Revenue | ||||
| Revenue from fees (1) | $365,639 | $317,714 | $664,630 | $600,418 |
| Other Income | ||||
| Interest income | 22,205 | 10,739 | 39,871 | 18,415 |
| Investment (loss) income, net | (802) | (2,055) | 485 | (2,446) |
| Total Revenue and Other Income | 387,042 | 326,398 | 704,986 | 616,387 |
| Production costs | 218,715 | 191,465 | 396,276 | 358,548 |
| Technology, data and product development | 17,348 | 18,455 | 33,288 | 37,899 |
| Sales and marketing | 10,087 | 19,660 | 21,219 | 29,254 |
| General and administrative | 35,093 | 40,349 | 68,399 | 86,532 |
| Total Costs and Operating Expenses | 281,243 | 269,929 | 519,182 | 512,233 |
| Operating Income | 105,799 | 56,469 | 185,804 | 104,154 |
| Gains and (losses) on investments in loans and securities (2) | (42,318) | (14,251) | (80,314) | (43,275) |
| Other expenses, net (2) | (22,972) | (20,181) | (38,438) | (38,890) |
| Gains and (losses) from extinguishment of debt (2) | 737 | (496) | 1,504 | (496) |
| Income Before Income Taxes | 41,246 | 21,541 | 68,556 | 21,493 |
| Income tax (benefit) expense | (1,088) | 4,978 | 2,061 | 2,438 |
| Net Income Including Noncontrolling Interests | 42,334 | 16,563 | 66,495 | 19,055 |
| Less: Net loss attributable to noncontrolling interests | (2,939) | (92) | (3,472) | (5,493) |
| Net Income Attributable to Pagaya Technologies Ltd. | $45,273 | $16,655 | $69,967 | $24,548 |
| Earnings per share attributable to Pagaya Technologies Ltd.’s ordinary shareholders (Note 12): | ||||
| Basic | $0.53 | $0.20 | $0.82 | $0.30 |
| Diluted | $0.49 | $0.20 | $0.77 | $0.29 |
| Weighted average shares outstanding: | ||||
| Basic | 83,184,935 | 76,873,529 | 82,926,257 | 76,347,801 |
| Diluted | 97,247,579 | 79,667,635 | 96,963,421 | 78,301,110 |
(1) Includes related-party revenues from ABS securitization trusts and investment funds totaling $231.4 million and $146.6 million for the three months ended June 30, 2026 and 2025, and $390.3 million and $314.5 million for the six months ended June 30, 2026 and 2025, respectively. Refer to Note 11, “Transactions with Related Parties,” for additional information regarding related-party transactions with ABS securitization trusts and investment funds.
(2)Prior period amounts have been reclassified to conform to the current period’s presentation.
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