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- Guarantee Exposure Increased 63% to $141.3m (worsened) — The maximum potential future payments under guarantees rose from $86.9M to $141.3M, indicating larger contingent liabilities from forward flow agreements.
- Related Party Revenue Concentration (worsened) — Revenue from related parties increased 58% to $231.4M, with ABS securitization trusts accounting for $227.5M, heightening concentration risk.
Pagaya Q2 revenue +18.6% to $387.0M, net income +171.8% to $45.3M; guarantee exposure jumps 63%
Filed July 30, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 7, 2025 · ~1 min read
Key Changes
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Total revenue rose 18.6% to $387.0M, operating income nearly doubled to $105.8M, and net income surged 171.8% to $45.3M.
MD&A verify on EDGAR → -
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Maximum potential guarantee payments under forward flow agreements increased 63% to $141.3M, while restricted cash accruals rose from $6M to $20.9M.
Legal Proceedings verify on EDGAR → -
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Related party revenue grew 58% to $231.4M, with ABS securitization trusts contributing $227.5M, highlighting concentration risk.
Notes view on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 4, 2026 · How we verify