Pagaya's second quarter Network Volume surged 33% to $3.5B, prompting a raise in full-year net income guidance.

Pagaya Technologies reported record second quarter 2026 results, with total revenue and other income of $387 million, up 19% year-over-year, and GAAP diluted EPS of $0.49. Network volume, a key performance indicator, grew 33% to a record $3.5 billion, significantly exceeding prior outlook and analyst expectations.

Key Highlights

• Record Network Volume reached $3.5 billion, a 33% year-over-year increase, driven by strong growth in the Auto vertical.
• Total revenue and other income grew 19% year-over-year to $387 million, while operating income increased 87% to $106 million, demonstrating significant operating leverage.
• The company raised its full-year 2026 GAAP Net Income guidance by nearly 25% at the midpoint to a new range of $155 million to $180 million.