Pagaya leverages machine learning and AI to provide consumer credit products and integrates proprietary API and capital solutions into a network of partners to deliver seamless user experiences and greater access to the mainstream economy. Since 2018, Pagaya has issued more than $34.5 billion across 85 ABS transactions with over 150 institutional investors, supporting originations across personal loan, auto, and point-of-sale programs.
Cyborg Score Rationale
Pagaya's recent $800 million ABS transaction was upsized 33% from its initial target, highlighting continued depth of demand in the consumer credit market for its AI-enabled assets. However, the company faces pressure on margins with operating losses and reported a revenue of over $1 billion but is grappling with profitability issues, including a negative EBIT margin of 15% and decreasing earnings per share.
Top Insights
For 2026, Pagaya expects network volume of $11.25–$13 billion, revenue of $1.4–$1.575 billion, adjusted EBITDA of $410–$460 million, and GAAP net income of $100–$150 million.
In February 2026, Pagaya expanded its point-of-sale funding platform with a $720 million forward flow agreement with Sound Point Capital Management, demonstrating continued strong institutional demand.
Corporate restructuring is underway at Pagaya as it aims to streamline operations and cut costs.
Ongoing product expansion and new bank partnerships are driving greater revenue diversification and increased market opportunity, while AI-driven underwriting advancements enhance profitability and enable scalable growth.
Named Competitors
AI-driven underwriting platform — AI lending platform for personal and auto loans
Consumer lending technology — Peer-to-peer lending platform with AI underwriting
Financial technology platform — Digital personal finance and lending solutions
Automated lending solutions — Online lending platform with AI analytics
Recent Developments
(February 2026) Pagaya launches $800M AAA-rated personal loan ABS transaction (PAID 2026-1) with 33% upsize from initial target
(February 2026) Closes $720M point-of-sale forward flow agreement with Sound Point Capital Management
(February 2026) Reports 2025 full-year earnings and provides 2026 guidance for $1.4–$1.575B revenue
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